When I was a college undergraduate, social media sites like Facebook and Twitter were still in their infancy. (MySpace actually ruled the day!) At that time, I had no idea what it meant to promote myself online—and trying to get a handle on it was difficult.
​
I wasn’t much better at promoting myself in person, either. I didn’t attend any networking events until I was on the verge of graduating from college. And that in itself was later than usual because I had already decided to attend graduate school in Oklahoma.

​Read more www.saltmoney.org/content/media/Blog/every-worker-must-promote-expertise/_/R-101-27989

​Let's ring in the new year by improving your savings habit by joining me in the 52-week savings challenge.

All you need to do is start saving $1 week and continue to add a $1 each week for 52 weeks.

If you follow the challenge by the end of the year you should have $1,378 saved. 

Keep up with me and tell me about your journey by using #mrjrealtalk on Facebook, Twitter, and Instagram. 


https://www.bankrate.com/banking/savings/build-a-52-week-savings-plan-with-the-52-week-money-challenge/#slide=1

​

Check out my special guest appearance on the Engineering a Startup podcast. 

The following was taken directly from the Engineering a Startup podcast website. 

Engineering a startup is a podcast that tells the stories of people who build things, people who change things, and people who start things. Learn what it takes to make it from people that eat, sleep, live and breathe startups.

Jose was a university student excited about entrepreneurship when he joined a biotech startup, ready to execute an exit strategy and become a millionaire, until the founder refused to sign his ownership papers and showed him the door. His perspective on entrepreneurship has changed since then, but his passion hasn’t.

Jose Fulgencio is the founder of LDMS media, and educational media and technology startup. He is deeply entrenched in education, as a student, a teacher, and entrepreneur, and has lots of interesting insights on the future of education, and why he thinks students shouldn’t be paying $300 for textbooks.

Jose’s dream originally was to be a political science professor, until he took a course in entrepreneurship, and has never looked back. He’s been through some of the lowest lows of entrepreneurship, but hasn’t given up, and that’s what really makes him inspiring.

I had the opportunity to attend the 2017 Consumer Federation of America (CFA) annual financial services conference in Washington D.C. The sessions included financial services for lower-income households, the future of payday lending, student loan scandals, credit scoring models, fintech, and fiduciary rule just to name. I will touch on several of the sessions I attended and what you can do in your community to help spread the knowledge. 

Payday Lending
Payday lending has been a hot topic in the financial services field. There are numerous stories of individuals falling into the payday lending trap such as taking a $2500 loan turning into a $50,000 debt. States have started to act against payday lenders, but the problem continues with payday lenders pushing the federal government to protect their business.

However, credit unions have been taking action with offering similar loans without the excessive interest rate and limit on the times a loan can be taken out. Financial institutions such as credit unions can help the general public by offering loans at low interest, limit on amount borrowed, and the number of times a loan can be issued to the individual 

Student Loans
The American consumer is facing a tremendous crisis with student loans. It is not just the typical college graduating with $50,000 in student loan debt now we are including parents and grandparents carrying student loan debt from co-signing on a student loan.

Jeff Herwitz from the Associated Press commented on the crisis by saying, "the U.S. Department is a big pool of loans" and I don't doubt the comment about the U.S. Department of Education.

The current presidential administration is putting restrictions on students loans forgiven who were defrauded by for-profit institutions. 

Credit Scores
An invisible credit person is the person does not have any credit score at any of the three top credit bureaus (e.g., Experian, Equifax, TransUnion). A growing number of millennial students are credit-invisible, and it is becoming a problem because such individuals are finding it difficult to rent an apartment or purchase a vehicle without having a co-signer and even car insurance rates are being based off on credit score.

​To generate a credit score an individual needs to have a minimum of three tradelines which includes installment credit (e.g., student loan), revolving credit (e.g., credit card), and open credit (e.g., home utility bill) and it take a minimum of six months to establish credit. 

Payday lending is bad, student loans are pushing marriages further down, and recent college students are becoming the new credit invisible. The conference had informative information, and now it is the duty of financial institutions, educators, reporters, and community leaders to educate people when it comes to financial issues and financially empowers them for the future. 

How will you become financially empowered? 

​I agree with Amin Rajan’s Nov 6, 2017, opinion piece in the Financial Times that “individuals have to spend less, save more, save early and retire late,” that there need to be real-life case scenarios along with fun-inspired simulations in financial literacy curriculum. However, saving more sounds more like a cliché rather than an actual way of living. In a recent study by the Student Loan Hero, 44.2 million American have student loan debt, and family households have on average $5,000 saved up. How can individuals dealing with student debt or working past retirement save more? Or spend less when the costs of living continue to rise, and wages remain stagnant.
 
Financial literacy curriculum focused on fantasy budget savings tips and saving for family vacations are no longer suffice when college students are graduating with high student loan debts, and elders are working Walmart jobs to make ends meet.
 
I am not here to denigrate financial literacy curriculum but what I am here to say is that financial literacy curriculum needs to match real-life scenarios with individuals just as Amin Rajan suggested. The scenarios have to deal with individuals who are dealing with school loan debt, elders working until they can no longer walk anymore, and households coping with zero net-worth so we can advocate “spend less, save more, save early and retire late.”
 
Does “spend less, save more, save early and retire late” resonate with your financial lifestyle?  

​Last week I had the privilege of attending Chicago Ideas Week for the first time. Chicago Ideas Week held in October where events are held all across Downtown Chicago to bring people together to share ideas and spark innovation in their community. Events included conversations, labs, and talks.  Thanks to an excellent discount from the Chicago Latino Network I was able to attend several events at a discount and even a free lab from a Twitter giveaway. Let me tell you what I learned from my events. 

Financial services for the common good 
The first event I attended was a FinTech conversation titled, "Innovating for good: How can FinTech use technology to change the way that we use financial services?" The event included companies such as TipYourself, Pangea, and MoneyThink. MoneyThink helps the first generation low-income students were instead of email they communicate via text messaging. Tip Yourself was an app used to tip yourself on a goal you are trying to reach such as saving up for a car, vacation, or whatever you desire. All of the companies are making financial services a benefit to society, not a burden. 

Edelman Lab - Cultural Influences Shape on-Demand Brand Positioning 
If you were ever wondering what the growth trends are in society, then look no more than the Google Trends website, (trends.google.com). The Lab had participants engaged in a beauty product case study to determine where resources should focus on for trends in the market. The information was helpful in learning about trends and how agencies help companies identify trends that are beneficial to the companies customers. 
 
Solving customers pains 
The Lean Canvas workshop was helpful in finding the right product for the right market fit. The overall night focused on getting the right customer who has a big problem and willing to pay you to solve the problem. Participants went through several activities to get at who is the specific customer, their pains, and who we plan to address those pains. 

_________________ solve their ____________________ problem
(Potential Segment)                   (Hypothesize Problem)

Producing a commercial via phone
Univision hosted a lab titled, "produce a commercial with your mobile phone," which I found helpful and wish I knew a year ago. The lab provided apps that can help with filming and editing videos. Apps mentioned included iMovie, FilmoraGo, Quik, Viva Video, Splice, InShot. The activity consisted of filming a short commercial for a clock to practice storyboarding, filming, and editing. After the lab, I started to shoot my vlogs using my iPhone and using FilmoraGo as my editing tool, and you can see the difference yourself. 

Radio at it's best 
The last session of the week was titled, "Be the DJ at iHeartMedia." I didn't get to do much except learn what goes on behind the radio scenes and how cutthroat the radio industry can be for radio personalities. Our group did get a live radio shout-out by V103 but other than that not much on hands experience. I was expecting that we could try to be on the radio and announce the upcoming song or make a live conversation. 

Overall, Chicago Ideas Week was a way to get my face out in the market, learn from industry experts, and take ideas that I can use for my business. What did you take away from the 2017 Chicago Ideas Week? 

​Clothes shopping can be a hassle for men especially when not knowing the right way to mix and match suits with ties, blazers with shoes, or knowing what to wear to your friend's wedding. 
​
As an avid consumer of clothes, I don’t like to pay the whole price unless I have to because the clothing is necessary. Shopping for clothes does not have to be a hassle and let me give you three places to get deals on clothes

Online Stores
Online stores like Groupon, overstock.com, and Amazon are convenient to get your shopping needs done. Overstock, you can get your suits, shirts, pants, shoes, and accessories all in one site with sales going on all the time.  Groupon can be a hit or miss at times. I bought a pair of suites from Groupon and fitted me well and still are holding strong after three years of wearing them. However, I do warn of getting on the email listserve because you will get tempted to shop all the time. Amazon provides great choices in accessories and suit selection. Before shopping online for a suite make sure you know your measurements and be ready to take your suits to a tailor to get it fitted correctly. 

Discount Stores
There is nothing wrong with shopping at places like T.J. Maxx, Marshalls, Burlington Coat Factory, or Ross. The bulk of my clothes come from such stores, and I am not ashamed of shopping at such stores. I once bought an Express blazer for $50 at T.J. Maxx and a NorthFace sweater for a whole heck lot cheaper than the original price. To get the best stuff from these stores find out when the new shipment of clothes comes in and be one of the first. Name brand clothing doesn't last that long at discount stores. And don’t forget to check out the clearance racks you might find something of value. 

Clearance Racks
Every time I walk into a major department store I go to the sales/discount/clearance rack to find deals. I have been fortunate enough to find amazing brands at cheap low prices by looking at the clearance racks. I will warn to try on the clothes and look for any damages to the clothes because there's a reason why some of the clothes are on the clearance racks. 

When it comes to suits, get your measurements from a tailor before shopping online. Have fun and look for the best deals. 

How do you do your clothes shopping for the best prices? 

​Creating a budget is easy but maintain a budget can be a challenge. A person no longer has to create a budget using an excel spreadsheet because there is an increasing amount of budgeting apps available such as Mint and You Need a Budget. However, creating a budget with no goal, realistic mindset, or picking what works for you is as useless as signing up for a gym membership and not knowing what to do. When creating a budget no matter if it's on an app or excel spreadsheet follow these rules.
 
Set goals
Without setting goals, you cannot achieve anything. You have to set goals or else you’ll lose motivation for maintaining a budget. Goals can range from paying off $10,000 in credit card debt, saving for a down payment on a house, or saving for a vacation trip. Without setting goals in your budget you run the risk of spending what you don't have and not managing correctly, which can be the cause of severe credit card debt. 
 
Be realistic
Saving for a brand new Mercedes Benz in one year when you’re only making $35,000 is not realistic. A realistic budget consists of living within one's means and saving for something that is within purchasing power. When I budgeted my money to pay off my credit card debt I was realistic and knowing that it would not be paid off within one year. I gave my self at the very least three years if not less. I accomplished my goal of paying off $10,000 of debt in 41 months because I was realistic.
 
Pick what works best for you
Everyone has their secret recipe for what works best. You have to decide what works best for you. For me having a budget app and writing things down on paper helps me budget my money. There are hundreds of ways to budget your money and each one may have own benefits. Listen to what others budget methods but use what works best for your needs and wants. it's

Starting a budget is easy but maintaining one can be a challenge. Do not lose sight of your money and be aware of your expenses. Spending $3.45 every day on a cup of coffee can add up without even realizing and affect your budget.
 
So how do you budget your money?

​In last weeks Facebook Live show during the finance with attitude segment, I discussed lessons from the original Godfather of personal finance – Benjamin Franklin. Benjamin Franklin was more than just a statesman and inventor he provided fantastic personal finance advice: live within your means, don’t keep up with the Joneses, and save every penny. Over two hundred years later the majority of Americans have not learned from Franklin’s words of wisdom.
 
Rather go to bed without dinner than to rise in debt  
Benjamin Franklin was obviously not telling people to go hungry every night that would be foolish. The meaning of Benjamin’s quote is to live within your means, but American’s still do not live with their means. U.S. consumer households carry on average $16,425 in credit card debt, and that’s not adding student loan debt. Don’t go shopping for items you know you cannot afford, stop buying expensive coffee, and please stop with the avocado sandwiches for lunch. There is nothing wrong with making your coffee, eating peanut butter and jelly sandwiches for lunch, and not shopping for items you want.
 
It is easier to suppress the first desire, than to satisfy all that follow
There should be no reason to keep up with others appearances. Years ago a group of colleagues decided to go out for drinks after a busy work week. One of the colleagues bought shots for all of us in the group. Another colleague from the group was upset because he told me he was the one who bought shots for everyone. My colleague was upset and had to show everyone he was the man and decided to buy shots for everyone regardless of the fact that he was in financial limbo. I told my colleague there is no way you can compete against the guy because he is way much wealthier than you are at the moment. The moral of the story is don’t compete with others when it comes to money. If someone buys drinks for the entire group, let them it's not your money wasted on drinks. 
 
A penny saved is a penny earned
Saving a penny or two is not easy especially when television commercials are telling us to spend, spend, and spend some more. However, saving a penny or two can go a long way. Whenever I buy products or services in cash, I deposit the change into a savings piggy bank and at the end of six months it can add up to at least $20.  Every penny counts no matter how small or little. I advise you to wait for your penny change whenever you go shopping.  If the cashier waits for you to hand over every penny you owe in the transaction why can’t you get your penny that you are owed?
 
There is no need to get into financial debt if you don’t have so make sure you live within your means, don’t compete against the Joneses, and save every penny.  

Learn the top ways you can build an emergency fund with a simple change in your shopping habits. Also, get insights on how to learn entrepreneurship while working full time. 

Make sure you watch the Mr. J Real Talk Facebook Live show every Sunday at 9pm(CST). 

​Watch as Mr. J Real Talk talks the Mayweather vs McGregor fight, myths about entrepreneurship that you should not believe, and do you really need to budget? 

Check out my guest appearance on the #OklaEd podcast as I discuss financial literacy in education. Also, the questions and replies from the Twitter chat I guest hosted Sunday, August 20, 2017

Enjoy 

​
http://teachingfromhere.com/podcast/episode-27-financial-literacy-in-education/

​A few days ago I was sitting working on my weekly email from a local Starbucks when next to me
I could hear the conversation between an older gentleman and a young man talk about business. The older gentleman was giving all types of business advice from knowing how to manage a business, setting up a budget, to knowing what to charge as a business expense.

I was trying to concentrate on my business, but the older gentleman kept talking until finally, he said something that got my full attention, “entrepreneurs always find a way to get the thing done no matter the circumstances.” I felt like going up to the older gentleman and give him a high-five. 

Entrepreneurs always find a way to get things done no matter the circumstances. Think of all the celebrity entrepreneurs you hear about on television (e.g., Michael Dell, Mark Zuckerberg) all of them have done what impossible to possible no matter the circumstances.

John Paul Dejoria (Co-Founder of Paul Mitchel hair products) went from door to door selling his hair products to saloons when he was dirt poor. 50cent was selling his mix tapes to bootleggers so that they could hand them out to people. Michael Dell built computers from his dorm room. 

As an entrepreneur, you have to find a way to get things done no matter the circumstances. As Dr. Michal Morris writes in his book Entrepreneurial Intensity, “successful entrepreneurs can combine adaptability with persistence in adjusting their concept when confronted with the obstacles, both natural and arbitrary, that arise along the way.” 

Next time you face an obstacle in your business, startup, or life make sure you find a way to get through your obstacle, that’s what entrepreneurs do.