Sunday, June 26, 2016

Keep Money Smelling Mothy?

                                  Keep money smelling mothy?

While I know he's currently being hated by the entire world right now (#Lemonade) , I'm not afraid to say Jay-Z's music raised me. While I've never met the man, his music was the soundtrack to my teenage years. I rap entire albums by heart!  I remember where I heard songs for the first time! I even was willing to lie and say that Nas’s diss song “Ether” was trash (Honest moment: greatest diss song ever)!  Now that you understand the level of a jay-z stan I am. Imagine being a young man and hearing "keep money smelling mothy" on a Jay-Z record. One interpretation is that HOV was telling his audience to save their money and seeing as his “alleged” drug dealing audience couldn’t take their drug profits to the bank, Jay-z suggested that they put the money in their closet. The mothy scent comes from the moth balls that old people line their houses with to ensure that moths don’t eat their treasured garments.  It was the game plan for what I needed to hear for what to do with my money. I knew just what I was gonna do with my money, hide it in my closet. (To the would be jack boys, I have since gave up this practice) Now if you have any financial brain you understand why this isn't a good idea. First Jay-z was talking about putting his “alleged” drug earnings into his closet for safe keeping because let's be honest a young black man with no job would be a little suspicious walking into a bank depositing over a $100k. And since I was a 15 year old kid depositing his lose change from his part time job it  wouldn’t cause any red flags, I should’ve input this money into the bank.  Based off what I’ve learned from watching crime shows, the life of a drug dealer can be an unpredictable one. One minute you can be in the club popping bottles of Ace of Spades and the next you’re sitting in that cold cell. While we non drug dealers don’t have those type of lows, we can understand why Jay-Z would advised his community to save for that rainy day. Life is a long marathon and there will undoubtedly be lows. It’s important to always be saving money because just like drug dealers can’t forecast police raids, you can’t forecast loss of job or medical emergencies.

Most banks give you at least 1 % to keep your money in their banks. But if you know you’re not going to need the money lock it away in certificates which offer a higher rate of return. Certificates are no-risk and moderate reward savings account. But it allows you to gain higher interest for money that would be just sitting there in a lower interest rate savings accounts. By this point you should have an emergency fund saved up (at least 6 months, but now start working for 12!) so now if you're saving to buy a house save that money away in a certificate allowing you to gain compound interest on money you know you won't need for a couple years. It’s also saves you from losing what you put in. The only drawback is having that money locked away for the length of the certificate. Certificates can be ended sooner but there are penalties for early withdraw.

I take all of my dollars and change to the bank, I don't allow this money to sit long in jars because I'll miss the potential interest. So instead of having a huge coin bucket, I empty the change out and take it to the bank periodically. While coin jars are great mindless savings accounts, they don’t provide the compound interest that a bank would. Am I talking about making thousands of dollars off of the change that’s usually left in your car? HELL NO. I’m talking about making the most you can off the money you have. This can be a lot or it can also be a little bit depending on the funding you have in the account.  But what I can tell you is that you won’t be making any money off of the money just sitting in your closet. You don't deal drugs, (if so, stop polluting your community)..... So don't be scared to take your crinkled dollar bills to the bank each week/month. Don't account for that money in your normal savings, but create a certificate to immediately   toss the funds into for savings.  By locking the change away you force yourself to forget about the money and continue working for more savings. Of course you’re not saving for event lose your re-up or lawyer fews like the old jay-z was but you need to have a similar mindset.

 Thanks for the life lessons Jay-Z!

Thursday, February 4, 2016

What to do when you get promoted

I was blessed to be raised the way I was. While my parents did an amazing job with instilling values that have allowed me literally to see the world, they weren’t the only people I looked to for guidance. Per usual, children and parents bump heads as they grow up and the child thinks they know everything and parents don’t know a thing. In those times of being a prodigal son, my older cousins were my role models. Each of them very different but ironically all the same. As an adult I realized my cousins were raised with the same morals and values that were instilled in me due to the fact our parents grew up in the same household. Most of the time when I speak to my mentors I just listen after I ask an initial question. One of my cousin, who we will call Crazy Panther Fan (CPF), I do most of the talking. This cousin isn’t much of a talker, he’s a thinking man. And I’ve realized that if I say something off course, he’ll give me a look followed by a Jesus like rhetorical question to make me rethink my previous stance.  So rewind to five years ago, I was just starting my career and spending a lot of time around CPF. I mentioned how I was expecting a raise and how it was going to make things a lot easier for me move around with the additional money. What CPF said to me is one of the reasons I started this blog for my quest for financial knowledge. Looking me dead in my eyes he said “You made it through last year on your current salary, so do you really need the extra money?”, “Save your raise. Treat it as if you’re still working off your old salary”. As I drove home once again I realized he was right. I didn’t really need the money sure it’s nice receiving that raise but I didn’t really need it to survive. What I needed to do was figure out how I could improve my life style on the prior year’s salary. And ladies and gentlemen that’s what I’ve done. I created an auto debit for every pay increase that goes right to my savings. I don’t even let the money take a pit stop in my checking account. My savings account is with a different banking system, which I don’t see regularly so I don’t get tempted to spend it. Am I hurting for anything?? Nope. I go on more vacations than 1 human being should be allowed to take. I say that to say this, just because you have the money doesn’t mean you have to spend it. Just because you aren’t spending your raises doesn’t mean you’re not living life. You just have to get creative with your spending and explore where you can cut corners.
 -@JonMcKinney87 for @theNewCheap

Ladies let’s have a discussion.....

Your man loves you and the whole world knows it! He’s checked every box you and those bitter single friends could come up with and smiled while doing it.  So with Valentine's Day coming up there's something we need to discuss... But first let me ask you a question, if I told you I'd give you $30 today but if you waited till tomorrow I'd give you $100…. What would you do? No brainer here, you would wait that one additional day for the extra $70. 

So ladies if you're willing to wait that one day, you could get 70% more stuff for Valentine's Day. We have to admit folks you know Valentine's Day is a joke. From the ladies sending themselves stuff to front likes they have a "bae" to the single girls posting love hate post on Instagram. Why buy into that?? Now this isn't a "Valentine's day doesn't make our relationship” speech that side chicks across the globe will hear, because you're actually gonna get something ladies.  But by waiting one day, you can get 3 times as much for your money. Stores mark down all of the Valentine's Day stuff the minute the clocks hits 12:01. And the smart Casanovas know this is the time to rack up on the manufactured love. Why does this matter for you ladies?? Because you get MORE and what lady doesn't like MORE?? So tell your man to skip the Valentine's Day purchase, and do it the day after when things are marked down at 70% off. Fellas use that money you saved to take her to dinner. If she's able to see past the BS of the floral and chocolate industry’s created holiday, then she deserves a nice dinner when places aren't crowded and menus are back to regular price. It’s important to remember that at the end of day your woman will want to spend some quality time on Valentine’s Day. Give her that time fellas because I’m pretty sure she’s doing everything in her power to make sure Super Bowl Sunday is a great one for your.

-@JonMcKinney87 for @theNewCheap

Wednesday, January 27, 2016

Rant in Progress - The Jonas Blizzard

I grew up different which is why I see the world a lot different than most. Maybe you grew up the same way and you're just as confused on the worlds current status. If you're not one of those people close out of this blog.

Prepare for a rant....

 I grew up around legal hustlers and illegal hustlers. I choose the legal route for my hustle because I saw the end result of the illegal hustle and the people who's raised me would kill me if I chose that route! As a youngster one of the legal hustles I had was cutting grass. I would go rent a lawnmower from the community center and walk up and down the neighborhood looking for grass to cut. This money allowed me to move around without having to ask my parents for cash. I felt independent, I felt empowered, I felt like a man. So as many of you know the east coast was hit with a blizzard this last weekend,( thanks for those that called and check on me and the family) so I was left to clean up 30 inches of snow. I'm no stranger to hard labor, and I enjoy it, but I also enjoy supporting hustlers. But there weren't any..... I spent Sunday morning cleaning off my car wondering why there weren't any teenagers offering to take over the job.

 If I was ten years younger and had 10,000 less miles on these knees I would've called all my friends and we would've walked door to door cleaning off spots. Shockingly the first day after the storm there weren't any kids outside cleaning! I was looking for kids to pay to get my car out of the parking lot. Sure I could've done it myself, but like I said I support the hustlers. I blame this on the parents of today. You spoil your kids too damn much. They don't know hard work, and a kid that doesn't know hard work will know government assistance. As a parent I would've gave my son the tools and taught him how to clean up the snow and set him on his way.
What does this have to do with saving money?? If you teach a man to fish he'll be able to feed himself... If you teach your children how to make money, you won't have to support grown ass people!

I finally met hustlers. While I was cleaning out my spot for day number two. I met some young men who were looking to make some extra money before going into the military this summer. They provided the price for cleaning out my car and did the work. As I mentioned I respect hustlers, in fact it excites me to see hustlers. I gave them double for what they offered to do the job. Why? Because they get it! They understand that living a New Cheap life means making more money and the Jonas blizzard was a perfect opportunity for making money. I respect that!
Raise your children to be hustlers.... Rant over... Now back to your day


Monday, December 14, 2015

Gambling can save you money

I know this post comes a little too late and I apologize in advance. I should’ve provided this knowledge at the beginning of the football season. But like old people say….. It’s better late than never.

One of the best ways to convert your spouse into a sports fan is to make bets about the game. Some people find it hard to have interest in something they have no stake in.  So I’m sure your partner will find the Celtics versus the Lakers game more interesting if dinner depended on the outcome. This will intrigue them to care about the game and put a competitive edge on the date. You can use this tactic whenever dinning out  with a date viewing a sporting event. In college my best friend and I had an evening out with older women. I scrapped my change together trying to figure out how to compete with a woman making far more money than my student refund check. When I got to the counter I realized his date was paying. When we got back into the car, my friend told me they made a bet which she obviously lost. I immediately put that into my tool kit for dates. Even though things have changed and I can now afford to buy Moe’s at 2am for my date, I still enjoy the competitive excitement. Girls don’t typically care about sports (I’m blessed, my lady does *praise hands*) but they’ll enjoy it so much more when their money is on the line. Please don’t use this as a way to never pay for dates (my grandmother would kill me for leading the masses astray). On this date let the loser handle the check. You may get to trade places for the evening by allowing your lady to pay while enjoying the game you love! I know we live in a world where sometimes women make just as much money as men do but we should be men! Now once you’ve dated for a while, of course allow your lady to get her beyonce’ on and take you out sometimes. But be careful not to through this date into rotation to early with a new partner. If you’ve been involved for sometime the bowl game season is the perfect time for you to toss this into the date bag. Let’s face it by this point your NFL team is in the tank, so betting on meaningless college games could be fun and save you money.


Tuesday, November 10, 2015

Acts 20:35

The holiday season is upon us folks, which happens to be my favorite time of the year! Nothing but good food, football, and family. Oh and my birthday falls at the end of the holiday period. One thing you must come to realize during the holiday is what's most important! Remember, giving is the reason for the season! Recently I was asked what I wanted for my birthday, and folks I couldn't think of one single thing! At this point in my life I have everything I ever needed or wanted. So for me to come up with a list of items to expect from loved ones would be stupid. So lets change it up this year, instead of a wish list how about you volunteer for those less fortunate. I know what you’re thinking, what does this have to do with saving money? While you're volunteering sit down and talk with some of these folks and realize just how close you are to being in the same situation. We forget how easy it is to fall on rough times. Studies show that most people are just TWO missed paychecks away from being homeless. And during a season of love and happiness that is extremely saddening. No one ever plans on being unable to provide their family dinner on thanksgiving but it happens. So instead of blowing money on holiday "reunions" at bars how about you and you friends adopt a family for the holidays. Provide them with a turkey and fixings on thanksgiving or buy the kids toys on Christmas! Nothing makes you feel better than doing charity from the heart! What you’ll realize is giving is better than receiving. And knowing that you allowed strangers to have a good holiday experience would provide you with so much joy.

As you know, anything we tell you here at theNewCheap is something we do ourselves. So theNewCheap is looking for a family to adopt for the Thanksgiving! If you know of a family in Fayetteville, NC or Baltimore, MD area please let us know by emailing us! Now please don’t suggest yourself when you've been messing up commas for 56 nights straight on IG (if you didn't get the joke ask someone under the age of 25). We’ll provide two families with a full thanksgiving dinner. The email is provided below to let us know about the family needing a little help.

(The family doesn’t have to worry about being put all over social media for receiving the gift. We believe that good deeds shouldn’t be broadcasted for social media likes, we believe in a higher power who has us covered on the recognition.)

Friday, October 30, 2015

20th Anniversary of the Million Man March

During the first million-man march I was only a child, but I grew up hearing about the historic event. I promised myself that I would attend the march if I ever had the chance. Well on October 10th of this year, I got that chance! It was a blessing to be raised in a community of strong men. My father, uncles, and grandfather all provided me with positive role models. As the day grew closer my excitement grew about the potential of having a million men with similar feelings of community responsibility. 

This memorable day began rather hectic. Per usual, I was late even when I attempted to be early. I sped the entire way to the bus station blasting gospel songs hoping to flood the atmosphere with Jesus vibes to ward off potential tickets. I arrived just as the bus driver was preparing to close his door. I remember sweating from all the excitement as I sat in my seat. Once I sat down, gathered myself and looked around, a calm came over me that lasted the entire day. As I rushed off the bus and attempted to navigate the DC subway system, I was at a stand still with which way to go next. I looked up for help and my eyes were met by another man who shared the same gaze of confusion. A young man who favored this gentleman’s looks stood behind him consumed by his cell phone.  These two men joined me on this journey even though we did not share our names with one another. We greeted each other as brothers and began to navigate the subway.

The elderly man spoke of how he attended the first march 20 years ago and how excited he was to experience this nostalgia again with his son. I saw the pride in his eyes as he mentioned the first march he attended, telling his son how amazing the atmosphere was back then. He went on to say how monumental today would be and the enormous amount of men who will be in attendance today in Washington DC. We arrived to the march within moments of the keynote speaker taking the podium. Did I want to hear this speech? Absolutely, but I really wanted to see the beautiful faces of those who supported the cause.
As I walked around I was greeted in peace and love, called King and Brother by strangers. I saw my people in every shade and age ranging from the elderly being escorted through the crowd to babies on their mother’s hip. I saw white people with their children, Native Americans in their traditional clothing, same sex couples holding hands, and interracial couples embracing each other all the while listening to the keynote speaker. What I saw and felt on this day was love. I have never felt that much love from strangers. It was so overwhelming; I had to have a seat to reflect on what I was experiencing.  This was about the right for every American to pursue happiness! 

I sat there overlooking the masses of people thinking about the past, present and future. I thought about the beauty of this moment. I envisioned what it would be like to share this moment with my future wife and children and suddenly tears began to rapidly fall from my eyes. I couldn’t control these feelings and I didn’t want to. I began this day intending to fully embrace the moment and every emotion that came with it. An older man sat down beside me and put his arm over my shoulder. We did not speak to each other, just sat in silence embracing this powerful moment. Thoughts were flooding my mind, why couldn't it always be this way? Why cant people of all colors come together in peace and love outside of an organized event? Why couldn't this love be felt every day all over the world? I thought about the dreams the enslaved had for their children of freedom and the many marches and protests their children endured for us to have equal rights.

 I thought about the present, about my life as a black man. My future and if my children will still need to march for equality regardless of ethnicity, gender and who they love. While the elderly man stood up, hugged me and continued on his journey, I wondered if we shared the same images in our minds as we looked around the crowd. I wondered if he felt hope seeing how far we’ve come but still felt sorrow of where we need to go.

October 10th was my call to action. I will love more, forgive more, understand more and feel more. My purpose is to ensure we don’t need another march in 20 years. My duty is to help in any way possible to ensure every person has the same opportunities as the next regardless of what they look like and where they are from. Happiness and love is the ultimate goal here. The love felt on 10.10.15 should be felt every day. I’ve accepted my call to do my part, and will make that goal a reality.

Please see the 1568 visuals from Million Man March
20th Anniversary of the Million Man March