Debt-Free Millionaire

Simplified Explanation: When you work a normal full-time job, you work between 30-40 hours per week. If you work less, you are considered part-time and don’t enjoy the benefits of health insurance. If you work over 40 hours a week you are due overtime pay, which is usually your normal pay, plus an extra 50% of that pay (often called “time and a half”). So, you are making extra money when you work...

WHERE DO MY TAXES GO? Federally – There are three types of spending: National Debt payments: The U.S. borrows over a trillion dollars every year, so as the government’s spending goes up, more U.S. taxes are paid to the repayment of this debt, increasing much over the past few years (2020-22). This would be like you taking a loan from the bank and needing to pay interest on the loan, but instead of...

Simplified Explanation: Taxes are money, collected by the government, from citizens, to pay for its operations. They use it for the infrastructure, salaries of state and federal employees, and anything else they decide to fund - literally anything they decide they want to do with your money. You pay your taxes through your paycheck, or by being charged on a regular (or not so regular) schedule. Co...

Real Life: There is only one way to keep from having children - and that is to be discussed with your parents. This simulation is to show you the average price of having children, and how expensive they can be if they are not planned for.  According to the U.S. Department of Agriculture (3), the average cost of raising a child from birth to 17 years is $233,610. That number was calculated from 201...

Real Life: Sadly, there is no way of escaping your monthly expenses, or escaping having to use your money to pay for things each month. Whether you are buying food or using the lights in your home, this increases your monthly expenses (and you need food and electricity). Since we talked about Expenses in (W1:D3), let’s talk about how to save money and lower your expenses. Here are some ways to low...

Real Life: Now that you have picked the income streams you want, let’s go over this again, because you may want to change your mind. The first and best questions to ask before choosing a college, career, or job are these: Who are you, really? What is it that you want to do for the next 30-40 years? What will pay you what you want to make? Where are these jobs located? Conflicting Statistics: Exper...

Real Life: Let’s talk about the most important word in financial literacy: Income. It is the money coming to you for services you give, or items you sell. In other words, if you work a full-time career, part-time job, own a small business, or invest, you have income. And if you have them all together, you have four streams of income.  Like a raging river, it is fed by hundreds of small streams tha...

Flipping Houses: A Gateway to Real Estate Investment Success The allure of real estate investment has long captivated the imaginations of aspiring entrepreneurs and investors alike. Among the myriad strategies available, house flipping stands out as a particularly appealing entry point for many. This process, which involves purchasing properties, renovating them, and selling them at a profit, can...

Real Life: Do you want to work your entire life, or stop working – or lessen the amount of normal work – when you get to a certain age? This is retirement. When would you like to retire? Is it a year, or an amount of money? There are pros and cons to either choice, but there are some important things to think about when considering when you want to retire. By knowing what your requirements are to...

Real Life: Consider this: what would happen if you lost your job and you had no money to pay your bills? What would you do to keep your house or apartment? What would you do to put food on the table? Well, if you had savings in the bank, you wouldn’t have to worry. Savings is an amount of money you have stored away for a later time. Normally, you would keep your savings in a separate bank account,...

Real Life: Do you know where your money is going every month? Have you ever tracked what you spend? These are all called Expenses. Expenses are anything you spend money on, and they add up quickly! Here are just a few expenses the average American pays each month, listed in priorities of living: Needs (Necessity Expenses):   Food Toiletries and Household Items Mortgage/Rent Utilities: Electric, Ga...

GOALS: INCOME – HIGH OR LOW? (W1:D2) Game View: In the game, you set your goals. This about this: what would make you feel like a winner? This is to track your sheet and analyze later. Will your goal be to make a high, medium, or low income, when you are older? Perhaps yearly income of $1 million? Place a dollar amount or just state high or low income. Personal Game View: What is your goal, annual...

Simplified Explanation:  Do you know the most basic terms in finance: Income, Debt, and Expense? These are the three most fundamental terms in the financial dictionary, and are essential to learn in order to be successful. We will teach you more about each of these, but let’s give you the basics before we go further: Income means the amount of money you receive in a given amount of time, through w...

What’s up my Debt free millionaire zealots. That’s right, this is the first podcast for the Debt Free Millionaire brand. This is not just a podcast… It is a brand... That means we have everything from two books being published… to a video game that every youth and their parents will be playing in the future… It is going to be amazing. We are producing that with Xogos Gaming ( https://www.xogosgami...