Pay D. Bills Vol.1
What up people? Welcome to the first Pay D Bills segment presented to you by none other than… you guessed it… D. Bills, Baltimore’s financial spokesman. Now lets get a few things straight before we dive into this portion of the Duepayer experience. I know there are a couple of things you probably want to ask me before I start advising you on your financial decisions. Well, lets get a few of those out of the way:
Do I have some type of Finance/Economics degree? No
Have I ever worked for a financial institution? No
Am I even good in math? Not really.
Am I a “financially challenged brotha” (read: broke ass individual) who got madd bills like many of you do and has somehow come across lucrative information that could relieve us of our economic embarrassment? YES.
Now after that brief introduction, lets get it started…
ASSETS AND PASSIVE INCOME Part 1
Most Americans whose wages and job benefits place them in the low- to middle-income economic bracket think about income in terms of the paycheck they get every two to four weeks for the work they do for someone else. What most people do with their income is pay bills and buy items that are quickly consumed or that decrease in value. Despite all of their hard work, many workers do not have money left over once they pay their debts and monthly living expenses.
Many people who work for someone else (rather than owning their own business) learn that even though their living expenses increase, the income they need to meet those expenses remains the same. Despite scheduled pay raises and annual bonuses, a person’s annual wages generally do not increase a great deal. In addition, salaries are capped for most jobs or are limited to the amount of money a person can earn in any one job.
There are ways to have more control, or autonomy, over how you handle expenses. A feeling of autonomy can contribute to mental liberation.
Regardless of how much you earn, you have the choice to put a portion of each paycheck into assets, such as U.S. savings bonds, mutual funds, a savings account for college or, perhaps, a house. With these types of purchases, a person can enjoy a passive income, or earnings from money that is invested as opposed to the money a person goes to work for every day.
One source of passive income is money collected on real estate that is leased or rented. Another form comes from royalties creative individuals earn, for example, from music or books they write and publish. In addition to bonds and real estate, assets include stocks and notes. Assets also include intellectual property, such as the music and books mentioned above, as well as inventions and products individuals create and for which they hold patents and trademarks.
The idea that assets go to work for their owners means that the investment itself ears money, or interest.
OK… now this is only Part 1 of this segment. I hope I shared some vital information with yall that could possibly be the first step towards your goals. Stay posted for Part 2 when we get into how interest, regardless of how small the percentage, can work in your favor.
No matter what you do in life, you gotta pay ya dues… just remember to pay da bills first!
D. Bill$
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[...] Nah Right regular D.Billz is going to be doing a little financial advice column over at duepayer.com. Check it out and and get your mind and money right. [...]
i feel stupid using this nick on this website, but i gotta state my name. that shit was tight, ill keep that in mind for my future. its good that somebody is looking out for others in this dog eat dog world. good luck
I like this, i will be looking for part 2.
Great stuff D.Bill$! Damn I hope all our brothers and sisters who really NEEDS this advice take it!
…congratulations on your 1st joint DBillz….i see you shining….and in your own words:
*B More Nubian*
Billz, thanks for the info, you covered the technical aspects of freeing yourself from dept, but what advise would you have for a person whos not motivated. Knowing is one thing but doing is a whole other subject, most people know what they should be doing but breaking the cycle of bad spending is what holds most people back, maybe in your next segment you can offer your imput on motivation and changing bad spending habits.
Very interesting start. It’s a shame how we (as Black people) don’t learn about financial responsibility in grade/middle/high school–when it’s probably one of the most important things we need to know as adults. Good look.
Billz droppin’ knowledge. good advice tho, let eskay know when Part 2 drop so everyone can check it out.
Good job!
^yea they should have a class on the importance of credit alone
Werd^ keep it up
Billz you stay droppin knowledge, keep it up… back to NR
foreign investments through mutual funds were hot , but have sinced cooled down, because the U.S. econonmy was down, but it is trying to rebound, also commodities trading.
d billz comin up, good job.
YO SON YOU ARE THE MAN FOR THIS. Holding appreciable assets versus splurging on depreciable assets are the way to wealth. I know this first hand. Good looks on dropping the jewels!!
i enjoyed your article, but what about our generation who is facing no social security how can we plan for our future? there should be a course in financial planning, maybe your calling is in teaching??? consider it . thanks
nice informative article look foward to more
Good advice D Billz, keep doing yo thang playboy!
this is a good look Billz. coming from a financial and real estate background myself, i want to be the first to commend you on accuracy. there are alot of ways for young people to secure their futures and very few of them take the opportunity that gets rubbed in their faces every day. school em billz.
good site. keep folks up on whats going on with their pockets. its a shame that we dont seem to know this already, but better late than never.
Peace 2 U continue to enlighten, this is what the youngsters need.
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