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WWE: Money in the Bank, or all Hype?

Most people will never realize what it’s like to lose $350 million in a single day, but if you’re Vince McMahon you know the feeling all too well. However, before you start collecting money to give to the WWE CEO, let’s remember that despite that setback he’s still worth a cool $750 million. So while he got knocked out of the billionaire’s club, he’s still a full-fledged member of the multi-millionaire’s club.

English: Vince McMahon at a WWE Raw event. Bra... — English: Vince McMahon at a WWE Raw event. Bradley Center, Milwaukee, Wisconsin, September 242007. Taken by me. (Photo credit: Wikipedia)

World Wrestling Entertainment, thinking anything it does is money in the bank, has been busy lately securing television deals for its various programs such as Raw and Smackdown. While Mr. McMahon got the deals finalized with networks owned by NBCUniversal, the price he got was considered by analysts to be far lower than what he was looking for. As a result, WWE stock prices plunged nearly 43 percent in a single day, costing Vince his billionaire club card.

However, despite the rough financial spot in the road, don’t think the WWE is ready to tap out anytime soon. The WWE Network, an on-demand streaming service launched by the company earlier this year, is already approaching one million subscribers. Despite what will probably be an initial loss of $50 million for the fledgling network, McMahon and other WWE executives believe the network will eventually become a money-maker for the company.

So while Triple H, the Rock and John Cena have helped make the WWE what it is today, there are many other superstars who are helping take the company to even greater heights. In recent years, perhaps none are more well-known and liked than the company’s Divas. Whoever said sex sells sure knew what they were talking about, because it seems the wrestling fans simply can’t get enough of the beauties who fight it out every week for glory and gold. With the show Total Divas on the E! Network for the next several years, fans will continue to get their weekly dose of the ring beauties there as well as on the other shows in the WWE camp.

So while it’s not money in the bank that all of the company’s ventures will pan out as hoped, it’s a good bet Mr. McMahon and those associated with the WWE will continue to figure out what fans are wanting and deliver it to them on a regular basis. And whether or not you are a wrestling fan, you’ve got to admit the WWE is a captivating experience in sports entertainment that keeps fans coming back for more each and every week.

How to Save

Finance

Saving is hard. For years, we would either not save at all, or we’d save a bit, then rush to spend it. That didn’t get us very far. Years of pretending to save like this left us with nothing in reserve. Finally, we’ve figured out the strategy to save money.

First and foremost, make more than you spend. This holds true at any level of income. If you don’t make much money, then you need to not spend much, either. Sometimes, this isn’t possible under current circumstances. In those cases, you need to either increase your income or decrease your expenses. Cut the luxuries and pick up a side hustle. The wider the gap between your bottom line and your top line, the easier it is to save.

Next, make a budget and stick to it. There is no better way to track both your income and your expenses. I’ve discussed budgets before, so I won’t address that in detail today. Short version: Make a budget. Use any software you like. Use paper if you want. Make it and use it.

Pay yourself first. The first expense listed on your budget should be you. Save first. If you can’t afford to save, you can’t afford some of the other items in your budget. Cut the cable or take the bus, but save your money. Without an emergency fund, your budget is just a empty dream when something unexpected comes up. And something unexpected always comes up.

Automate that payment to yourself. Don’t leave yourself any excuse not to make that payment. Set up an automated transfer to another bank and forget about it. Schedule the transfer to happen on payday, every payday.

Now comes the hard part: Forget about the money. Don’t check your balance. Don’t think about it in any way. Just ignore it. For the first month or two, this will be difficult. After that, you’ll forget it exists for a few months and come back amazed at how much you’ve saved.

If you don’t forget about it, and you decide to dip into the account, you are undoing everything you’ve worked so hard to save. Do yourself a favor and leave the money alone.

A Brighter Future: 3 Simple Things Parents Can Do to Make a Difference

Finance

[Editor: This is a guest post from my good friend Terra. I’ve know her for–jeez, really–20 years. If you’re looking for a staff writer, hit her up. Seriously. She’s good people.]

Who doesn’t want a brighter future for their child? Book store shelves overflow with parenting advice tomes and how-to guides to make “uber-kids”. Eager parents lap up promises to raise their children’s I.Q., increase their chances to get into college, and improve their social skills.

From books to apps to specialized software, there is a dizzying number of products available to help your child grow into the genius you know he or she is.

But what if I told you that the secrets to increasing your child’s likelihood to succeed in life were absolutely free. Simple things you have complete control over. No batteries or special upgrades required. No matter your income, education level, or what country you live in, these deceptively simple tips offer powerful results.

Make Mealtimes Sacred

Food connects people. From the dawn of time, our species has gathered around the fire, to break bread and share our stories.

In modern times, our schedule can be crazy (between work, social activities, and, you know, life) so having dinner on the table at 6 o’clock every night is not always possible. However, studies consistently show that having a family meal at least 3 times a week has huge benefits for children (from teenagers being less likely to abuse drugs and alcohol, to increased academic success, to reduced risk of developing eating disorders or becoming obese, the implications are impressive). And it doesn’t have to be dinner, any meal will work. Consistency is the key.

Far from being boring, children find the predictable routine of family meals reassuring, promoting warm, fuzzy feelings of closeness and comfort (though teenagers will never admit it). Whether it’s take-out or made from scratch goodness, nothing says “I care about you” like sharing a meal.

Quality matters here, so remove distractions during meal time (turn off the TV, ban phones) and focus on each other. Take this time to reconnect and talk about your day and ask the kids about theirs. Make this time sacred. It matters that much.

Hug Frequently

“We need 4 hugs a day for survival. We need 8 hugs a day for maintenance. We need 12 hugs a day for growth.” – Virginia Satir, psychotherapist

Receiving a loving hug feels wonderful. But beyond feeling “nice”, hugs literally have the power to heal us and improve our lives.

Hugs have superpowers. A hug has the power to release a “happiness hormone cocktail” of oxytocin (natural antidepressant, promotes feelings of devotion, trust and bonding), dopamine (intense pleasure), and serotonin (elevates mood, negates pain and sadness) in both the giver and receiver. Bonus, hugs are naturally gluten-free, organic, and have no unpleasant side effects.

To get the most benefits, prolonged hugging is recommended, around 20 seconds. A full-body hug stimulates your nervous system while decreasing feelings of loneliness, combating fear, increasing self-esteem, defusing tension, and showing appreciation. However, this hug fest only works its magic if you’re hugging someone you trust. Since children love to be held and cuddled, this is ideal for family bonding. Not so much with that new client you just landed (awkward…).

How does hugging effect children specifically? Children who aren’t hugged have delays in walking, talking, and reading. Hugging boosts self-esteem; from the time we’re born our family’s touch shows us that we’re loved and special. All of those cuddles we give to our children are imprinted on them at a cellular level and will still be imbedded in their nervous system as adults. Hugs today equal the ability to self-love as adults. That’s an awesome gift.

Create a Home Library

We all know how important reading aloud to children is, from infants to teenagers. Reading is one of the most important factors affecting the development of a child’s brain. But reading skills are not hardwired into us; we don’t pop out of the womb quoting “Pride and Prejudice”. Reading skills need to be taught and encouraged.

Parents are a child’s first, and most important, teachers. While children can learn from flashcards and workbooks, nothing is more powerful than seeing your passion for reading. Whether you like it or not, your children are learning from your every move. What you find important, they will find important. No pressure! Teaching reading to your child requires attention, focus, and motivation. It also requires access to books, lots and lots of books.

Libraries are a great resource for developing a love of reading in your child. Most have a thoughtfully arranged children’s area offering story-time and other enrichment opportunities. However, nothing beats having a book to call your own, to hold and cherish, until the edges are worn with love.

Having a well-stocked home library, it turns out, matters. A lot. This study found that having a 500-book library was equivalent to having university-educated parents in terms of increasing the level of education their children will attain. That’s pretty powerful. It doesn’t matter if your family is rich or poor, from North America or Asia, if your parents are illiterate or college-educated, what matters is that you have books in your home.

Don’t’ have the space for 500 books? No worries. Having as few as 20 books in the home still has a significant impact on propelling a child to a higher level of education, and the more books you add, the greater the benefit.

Having a variety of books available makes a difference; especially important are reference books, with history and science texts having the greatest benefit.

No money for books? No Excuse! Dolly Parton’s Imagination Library is a great resource for free, high-quality children’s books. When you sign up, your child is mailed a new book each month until the age of five, addressed to them (a very special thing indeed).

I hope these tips empower you to take action. Small changes can have a big impact on your child’s future. Just remember, it’s not the money you make or the tutor you’ve hired or the new app you’ve installed that will catapult your baby Einstein ahead in life. It’s the quiet moments with you at home, eating, hugging, and reading that will carry them through whatever life brings their way.

Are these things you would like to focus on in your family? Do you have simple parenting tips that have made a difference in your child’s life?

Why I chose a prepaid credit card

Finance

This is a guest post.

You can’t get credit without a credit card, and you can’t get a credit card without good credit. This is a dilemma that many people find themselves facing, whether they are trying to re-establish their credit or build credit for the first time. In fact, this is the dilemma that I found myself in. My solution was to get a prepaid card, and here’s why.

The Real Deal with Prepaid

Prepaid credit cards have earned a mixed reputation over the years. While it’s true that they usually have more fees than a regular credit card, they also offer a financial solution for people who don’t have good credit. And you should also keep in mind that they don’t charge interest because the cash that you are using is yours to begin with. The important thing to remember about prepaid cards is that they are a means to an end; once you rebuild your credit, you’ll find it much easier to apply for a card with better rates and fewer fees.

In addition, prepaid cards offer several advantages. The most important one for me was the convenience of having a card that I could use to make purchases. Prepaid cards look and work exactly like regular credit cards (you don’t have to enter a personal identification number to use them), so the only one who knows it is prepaid is me. And while I use cash for everyday purchases, there’s no avoiding the need for a card when you have to shop online or pay for gasoline at the pump, for example. Most digital merchants only accept payments from cards linked to large financial brands like Mastercard and Visa, and my card gives me a way to buy what I need from whoever has it in stock. In addition, my prepaid card offers me a way to keep track of all of my purchases electronically, which is helpful since I am trying to keep a closer eye on my budget.

Prepaid cards also offer security. Cash can easily be lost or stolen, but if you lose a prepaid card, you can easily get a replacement. More importantly, your balance is protected by a replacement guarantee from your bank, which comes in handy if you ever have to dispute fraudulent charges.

Perhaps the most convenient factor of a prepaid card, though, is how easy it is to get one. You don’t have to have a bank account in your name to receive a prepaid card. However, if you do have an account, you can easily link it to your prepaid card.

Changing my spending habits and getting out of debt hasn’t been easy for me, but one way for me to show creditors that I am getting better at managing finances is to build my credit with my prepaid card. It’s also a way for me to eventually be able to make big purchases that are necessary, such as a car, and hopefully one day, a home. Prepaid isn’t for everyone, but if you find yourself considering this option, it’s worth a second look.

Three Ways to Make Christmas Cheap

Finance

We failed Christmas Budgeting 101 this year. I haven’t totaled the damage, yet, but we have spent at least $500 more than we had planned.

It hurt.

Next year, we’re going to handle the Christmas budget differently. This year’s model isn’t working. It’s a lot like pushing a car down a hill to get it started, but ignoring the cliff at the bottom.

1. Use cash. A huge part of our problem was that Capital One is helping us celebrate. It’s horrible, because we both know we shouldn’t be using a credit card, for exactly this reason, but we can’t seem to make the transition back away from the plastic. Part of the reason is that Amazon and ThinkGeek don’t accept cash, and part of it is convenience. Don’t get me wrong, we’re not carrying a balance on the card, but it’s still far too easy to overspend.

2. Communicate! If our gift budget is $500, and I spend $300 online while she’s busy spending $300 in stores, out budget is shot. Worse, if we spend that money buying stuff for the same people, our budget is shot before our shopping is done. A little bit of this happened to us this year.

3. Explore atheism. There really is no more effective wa

y to cut down holiday expenses than to eliminate the holiday completely. This may not be the best answer for everyone, but it’s effective. On the other hand, I know several atheists who celebrate Christmas as much as anyone else. This probably isn’t a good alternative for most people.

3, Take 2. Cut back on “stuff”. My kids have more toys than they can play with. My kids’ parents have more toys than they can play with. Do we really need more? Wouldn’t it be better to spend the money I’d normally use to buy my wife a present on a series of date nights, spread out through the year? I could take my kids to Feed My Starving Children so they can understand how privileged they are and how much the things they take for granted are really worth.

There are so many other ways to celebrate a holiday that has turned into a national orgy of consumerism. Next year, we’ll be trying some of the alternatives.

Credit Counseling: Swimming Out of the Mess

Finance

I once read a news story about a horse that slipped into a manure pit.

Some people–much like the unfortunate horse–are up to their necks in a mess, paddling for all they’re worth, wondering how to get out and panicking about the apparent hopelessness of their situation.

The mess I’m referring to is–of course–debt.

Fortunately, there are some life preservers out there.

The simplest option is a debt snowball. You just list all your debts in order from smallest balance to largest. Then, focus all you energy on paying off the smallest, while making minimum payments on the rest. When the smallest debt is paid off, throw that money at the next smallest balance. Eventually, all of your debts go away.

What are your other options?

There are debt consolidation loans, debt consolidation programs, horrible debt settlement plans, and even bankruptcy. There’s a whole shark-infested reef of options, some of which will make things much, much worse for you. What to do?

Take a look at credit counseling. Credit counseling is designed as a way to educate debtors on their options, and how to pursue those options. A good counselor will look at your income, your debt, and your spending habits and help you understand what went wrong and how to avoid it.

The trick is to find a good counselor.

First, search for approved and licensed counseling organizations here.

Once you have a list of candidates, you can start trimming it using these steps:

Ask them for information. Good agencies will send you information about itself and its services at no charge. If the balk, run.
Are they nonprofit? In many places, credit counselor must be nonprofit to operate legally. Whether or not it’s a legal requirement, consider making it your requirement.
Ask about their fees and get it in writing. Is there a setup fee? Monthly fees?
Will there be a signed agreement? If there is, be sure to read it, first.
How do they train their counselors? What are their qualifications?
How are the employees compensated? Do they get bonuses if you sign up for certain services? If they do, go elsewhere. Their first priority should be your needs, not getting a bonus.

Once you’ve found a company you’re comfortable with, schedule a counseling appointment. At the appointment, you can expect to go over your finances in detail, including your income, expenses, debt, and financial goals. You’ll review your options with the counselor and build an action plan.

From there, your job will be to stay on the plan and get yourself out of debt.

Have you ever met with a credit counselor?

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