Monthly Archives: February 2018

Who Says We Need to Have Credit?

In the world we live in today it has become generally accepted that there are certain things we all must have, even as we reach our young adult life. Some of these may vary from place to place, but for the most part everyone accepts that we all must have the following to survive:

  • A source of income
  • A place to live
  • A way to contact others and stay in touch with the world
  • A way to get from one place to another
  • And food and water

Now, anyone who reads this list might disagree with some of the items that I’ve identified as being a list of bare essentials necessary to survival today, but that’s something one might discuss another time. What I’ve identified is merely a list of what we would find common today in just about every environment for what would be required to begin living their own life.

When you look at this list what is the one thing that everything else hinges upon? Income!

Once we have a source of income, the world is our oyster, so to speak. The unfortunate thing here is that most of us are lead to believe that as long as we have a source of income we can always borrow more for whatever we want and pay back what is owed.

However, when we decide to borrow money before we have earned it then we are no different than having placed ourselves into indentured servitude to that organization. We must now go to work every day to pay back first what we now owe them until our debt is paid off, and our money is no longer ours.

In today’s financial organizations they have created the financial credit system we all are aware of. This is something that was concocted by the banks to identify which clients are better prospects when potentially loaning money to. This system was not initially created with the intention for clients to build up a credit score based upon what they’ve borrowed. It was built around a base of income, expenses, an initial deposit, and how long was the money being borrowed needed.

Ever wonder why we get those letters from the credit card companies that include four or five checks to write against our credit card? Oh yeah, and magically that credit limit has now increased as well! Or, what about the influx of all the new credit cards we’re suddenly pre-approved for showing up in the mailbox! Here’s another one I love, when the personal loans from $5,000 to $50,000 are pre-approved as well.

How do these organizations know that we might have an interest or that we could even qualify for this? Next, why would we want to consider applying for such stuff even? Finally, is this even really needed?

My son, to purchase a recent used car needed me to co-sign on the loan because the bank said he didn’t have sufficient credit for them to give him a loan. Actually, based upon his income and expenses he just didn’t have sufficient funds saved to provide a reasonable down payment to avoid me having to co-sign.

When you consider all of what’s part of the formula for determining one’s credit it will basically still come down to how solid is your monthly income, how much are you paying out in monthly expenses, what’s left over to pay this additional expense, and what defaults have there been in your past on other loans?

Okay, so the banks are all out to get us, how do we beat this system?

To begin with we start with recognizing where are we at. Forget about building up a credit score because that’s only something the financial system wants us to use so that we’ll borrow more money.

Let’s figure out how we can become free from what they’ve created. First of all, do we owe them anything? How much?

Let’s set up a way to pay off any debts as quickly as possible while also saving up some extra funds for ourselves so that we can avoid going back to them for anything. While we’re doing this payoff we’ll also live within our means without purchasing anything new. This shouldn’t last long based upon what we owe, and once we’re debt free we can plan to replace what is needed and pay in cash.

What works especially well while one is taking control of their finances is to also have an additional source of income. There are so many ways to make extra money now a days that it’s truly unbelievable. What we must do is investigate the many opportunities and identify what would provide us the greatest opportunity, what best suits our ability, and what also provides us the greatest benefits.

As an individual you might be willing to just get a second part time job working for some other boss. I’m of the opinion that the best opportunity for everyone is to have their own independent business where they can create a residual, or a pipeline, income!

This is something that we can keep and might even decide to do on a permanent basis once all finances are taken care of.

The options that are available in this world are at our fingertips and are for us to find!

Believe in yourself!


Warren La Duke

Establish A Solid Foundation Financially

No matter what you do in life, where you what to go in life, or how fast you want to get there the single most important step one must take before they do anything is to establish a solid foundation financially where they owe no one! Better known as being financially secure. The sooner that one can establish this foundation the better for them.

Just for clarification, when a person is financially secure they have no outstanding debt or loans and even has enough money saved up so that if they were to lose their income source they would be able to survive for at least six months to a year.

When I first graduated high school a good forty years ago, we were already being fed the false statements that college was the way to go. Well, not only was I interested in going to play football, but because of these false statements I also believed that I needed a degree to get ahead in life too. Unfortunately, I came to realize that I had no clue I wanted to do in life, and I also had no idea what sort of jobs my degree would offer upon graduation!

I can’t say if college today is any better about sharing what opportunities are available with the degrees they offer, but I do know that not much is different with the young adults being herded into college today regarding why they are going!

When one looks at the world today it’s common belief that the sooner we are placed into debt the better. Teenagers are being offered credit card applications even before they graduate high school and have jobs! Then get going to college, and let’s start racking up student loans!

Statistics show that the average college student graduates with more than $30,000 in debt, and has more than $6,000 in credit card debt by their late 20’s. Meanwhile, average median earning for 25-34 equals $36,000-$40,000. Just imagine starting your new career with a personal debt-to-income level right about 100%!

In today’s society it’s pretty well taken for granted that to get anywhere one must put themselves into debt. That’s not true, all that we have done is indebted ourselves to that establishment while they hold that debt over us! We’re now enslaved to them until the debt is paid off, there’s no getting around that.

The best time to establish one’s financial security is while in high school before they start to accumulate debt. This is possible and there are many ways of doing this for those who are ambitious enough and have the desire to control their future.

The next best time to establish our financial security is right now!

So, how can one establish their financial security and what’s it going to take?

We must first remember that this is our life and not someone else’s. So, when it comes to dealing with the finances we have earned and made we must be in control at all time!

Knowing what we need and what we want is huge, and important when identifying wastefulness.

Setting goals for paying off loans, mortgages, and credit cards and sticking to those goals is necessary for staying on top of one’s finances.

Putting a set amount away every paycheck into an untouchable saving account, and another for unexpected expenses is important.

Realizing that to get on top of everything quicker an additional income source may need to be considered.

When necessary get proper financial counseling, but always remember that what they are giving you is only their advice. It’s always best to realize who’s making the final decision and for whom.

Depending on one’s present situation, reaching a point of financially security most likely won’t be obtained too quickly. Most likely it will be seen anywhere over a period of either months to possibly even a few years. The other option is 10 to 30 years, you choose!

Now just think, instead of sending out what could have been thousands of dollars a month to organizations that you were indebted to, you’re pocketing it! Instead of taking a loan out for that new car you can pay cash! Or if you want to take a nice vacation somewhere you have the cash to take it! You can put more away for retirement. You can prepare for the addition to the house instead of getting a second mortgage; all kinds of things are possible while still saving away.

A program I’m very proud of, The Financial Fitness Program, has helped thousands of people to get control of their personal finances and put them on the road to financial security while helping hundreds to already reach that pinnacle. This program gets into a lot more of what one should do to become financially secure besides what I’ve just mentioned. In addition, for those who are willing this program will offer further steps that are necessary to obtaining financial freedom.

At this point you might be thinking why I should go through the effort to become financially secure when I can just get whatever I want when I go to the bank. That is probably the main reason for becoming financially secure, so no one would own you anymore! As long as one has debt that some financial establishment holds over them they truly are not free.

The sooner we remove that debt and owe no one the better!

Now once we’ve reached that point of financial security we can continue forward toward financial freedom where we have enough money coming in and saved up so that it doesn’t matter what we want or do, financially we have ourselves covered!

Believe in yourself!


Warren La Duke

Why Do We End Up Doing What We Do?

Let’s take a moment to step back right now to look at our lives. Just look at where we are, how did we get here, and why we’re here?

When you think about this, on a day to day basis, one might say that they’re exactly where they wanted to be! They have a job that pays what they need to take care of the life they’re living. But then I’d have to ask is that truly the life they want to be living?

How much time do we put in for our job? Do we have the ultimate say as to when we’re going to be at work and for how long? Who determines what we’re getting paid at the end of the week? What about the time we want to spend with family, be it just at home or at the events they’re involved in? Do we determine when we can participate in any or all of these? Are we fulfilling our dream or just our bosses dream?

When I was young I loved playing baseball and wanted to pursue a professional career. Unfortunately, due to circumstances beyond my control that dream just never turned out to reality. So, I ended up playing football and tried the same there. After playing a year in college and injures that came to be I realized that professional football wasn’t going to be for me either.

Now I was at a time where what do I do next? What do I finish studying at college? Although I did end up getting my degree at college I really had not been given any true direction of what was out in the world nor had anyone cared to talk with me about what was available based upon what I liked to do. As a result, I blindly pursued a degree that I hoped would get me a good job so that I could begin a career and also begin to make money!

Not a chance! As it turned out the area of “expertise” that I graduated in suddenly went into an economic downspin and not only stopped hiring, but they were also laying off tons of people. Nothing was available. Well, after five years of working for a small company and obtaining a second degree I ended up getting a job with the state Dept. of Transportation in a capacity that had very little to do with either of my degrees that I obtained while in college.

Needless to say, I had hoped for more. The consensus though was that working for the government I was set for the rest of my life. Not! There are no secure jobs anymore; even if government positions were once they definitely aren’t anymore. Although I stuck it out for 30 years all the while I was thinking that there’s got to be something better, that I can be doing more for myself, my family, and others who are looking as well.

Guess what? There is!

With all that’s going on in this world, and all that’s available, if anyone has a desire for something better it’s possible. The main thing is to look beyond what we feel is holding us back, because you know what, all those things are just excuses! I don’t recommend beginning something blindly. There is so much for us to learn so that we can take our dreams and make it become reality!

To first make a change one must first believe in what they’re about to change. They must absolutely believe in themselves to the utmost of what they are about to do! So many great books exist for us to learn from, but what’s just as important is taking that information and not only applying it but also discussing it with others doing the same along with a coach or a mentor. This helps us to share our thoughts and then to hear from others how they see the same picture. Ultimately, allowing us to know when we need to take an extra step back and take another look at the whole picture again. This is the concept of learning from those who already have what we’re working to achieve.

We all hear and see things differently based upon what we know at that moment. Too often our decisions are limited only by what we’re willing to open our mind up to or possibly what we let others dictate to us. If you have a desire to achieve greater things then consider what it is that you would like to do. Ask yourself, what do you find fun?

From here let’s see how we can establish a solid foundation financially for you so that within a year or two you’re able to start your own business without even having to borrow money to open those doors. This solid foundation not only describes eliminating what you owe to others, it also includes ways of making extra money, knowing more about how the financial system works and using that to your benefit.

As author Jeff Olson describes in his book, The Slight Edge, all we need to do is take this one step at a time. Let’s learn proper positive increments so that we can get to be where we want to be in one or two years.

If you have any idea of what you’d like to be doing only just not sure how to get started, then read on. We’ll talk further about establishing that solid financial foundation.

With one step you’re moving somewhere and making progress, with no steps you’re moving nowhere and making no progress! Take that step.

Believe in yourself!

Warren La Duke