Sheldon Marc Tenia

02/09/2022

How many people you know this relates to? , , ,

Is it surprising that workers are quitting in droves? Of course not! The real miracle is that people didn’t quit sooner.

04/07/2021

Day 6 of Financial Literacy Month.
Tip 6:
Ask questions.
When looking at your assets and finding your net worth you probably looked at different financial assets where your money is housed. The question is do you understand how it works, their advantages and disadvantages and more importantly how they are working to grow you money? Get your Financial Professional to answer those questions for you or if you don't have one join in on events such as the one discribed below.

04/06/2021

Here is Tip 5 for Day 5 of Financial Literacy Month
Tip 5:
Determine your Net Worth
Your Net Worth is the difference between your assets and the debt that you have. By looking at your net worth you can have an idea if where you currently stand and then start setting goals of where you would like to be. Those goals could be Short Term (1-3 years) or Mid Term range (3-7 years) or Long Term (7 years +). As you reduce your debt and increase your Net Worth you can measure your progress towards those goals and determine whether or not you need to increase your efforts or set new goals to reach the desired wealth you wish to achieve. It will also show if your going in the opposite direction and need a bit of course correction or help from a Financial Professional to get you to where you need to be. Never be afraid to ask for help for someone that does this for a living. After all when we need car repairs we go to a Mechanic, when we are sick we seek the advice of a Doctor, so why not go to a Financial Professional when it comes to our Finances.

04/05/2021

Day 4 brings us to another Financial Tip
Tip 4:
Check your Interest Rates
Most Financial Institutions utilize compound interest to their advantage. The higher the interest rate the faster their money grows. by the same token the higher your interest rate you have on your debt the faster it grows as well. Tip here is to pay down or pay off you debt with high interest rates as soon as possible. This could be done by simply paying more than the minimum balance each month until it is payed off completely. If you have more than one high interest debt then pay one off, and the moneys you were putting toward that debt should then be added to the next debt in line so that it too can be paid off quickly. This is utilizing the snow ball effect and you would be surprised just how quickly your debt would be reduced when used.

04/04/2021

Lets continue sharing on Day 3 of Financial Literacy Month.
Tip 3:
Build or Increase your Emergency Fund.
The most important purpose for savings is for emergencies. We all have unexpected expenses the crop up from time to time. If we could have anticipated them, we would have put them in our spending plan, but we all know that Murphy’s law is alive and well. “Anything that can go wrong, will go wrong… and at the worst time”. If unexpected expenses were rare, payday lenders and credit card companies would not have such a thriving business. Begin with an initial emergency fund of $300-$500 if you have not started one. The reason for this is that the average unexpected cost we encounter is between $300 -$500. I encourage you to grow your savings from there to $500, $1,000, one month’s expenses, then 3 –6 month’s expenses. Why so much? Because in the event that you are injured or lose a job, it could take that long to get your affairs back in order. Looking back at last year's events just reiterates the need for having that emergency fund.

04/03/2021

To continue what was started yesterday at the beginning of Financial Literacy Month.
Tip 2:
Creat a Spending Plan / Budget and Include a Financial Calendar.
Do you know what your spending on a daily, weekly, monthly, quarterly or annual basis? Have you planned for the bills when they are due or do you have reminders when things are due? These are all things you can prepare for by having a spending plan / budget and having a Financial Calendar as a reminder for when things are due. When you create your plan be sure to pay yourself first and build your emergancy fund if you don't have one for those unexpected surprises. Then plan for the monthly expenses as well as some of the periodic expenses that may come up ( car maintenance every 3 months, personal property tax, insurance premiums if not monthly etc..). Make sure you utilize the calendar to remind you of pending payments. Google Calendar is good or if you have a daily, weekly or monthly planner that you can write it down in is also a good resource. Also be sure to create a list of spending priorities that work for you. Then, spend according to those priorities. You spending will be more in line with your values, and you will be happier as a result. As you plan involve the family with the planning this way everyone is on the same wavelength and understand the importance of maintaining the spending plan / budget created.

04/02/2021

Financial Literacy is the understanding of how to earn, spend, save, manage, and invest money. Simply put, it is knowing how money works. April is Financial Literacy Month. When was the last time you looked at your financial situation? I challenge you to do so! It is a chance to reflect on the state of your personal finances and an opportunity to improve them. To assist in this endeavor, I will post a helpful Financial Tip each day in April that you can use on your road to Financial Literacy.
Tip 1:
Get educated:
Financial Literacy starts with acquiring knowledge about finances. Start with the basics and work your way up. There are many resources out there that gives you basic financial knowledge, just start somewhere. I highly recommend the book "How Money Works - Stop Being a Sucker" by Tom Mathews and Steve Siebold.
This book provides you the steps towards financial literacy.
Get Started:
Once you have acquired the steps from the “How Money Works” book have a financial professional evaluate your current situation. They will help you get started on improving your financial standings. What if saving an extra $5-$10 towards your emergency fund or paying an extra $5-$10 on your credit card debt improved your current situation? This may seem insignificant, but these actions add up. It is a start to saving more, reducing debt, and can possibly put you in the position to invest in the future.
Keep it Simple:
Do not get too complex or elaborate with your plan. Create goals, formulate a plan to achieve those goals step by step and then EXECUTE!
So, get the education and become more financially literate, start doing the little thing to get the ball rolling and keep it simple.
PS If you would like a copy of the book “How Money Works – Stop Being a Sucker." reach out to me at https://howmoneyworks.com/sheldontenia/ to get your personal copy.

Become financially literate today.

03/24/2021

It's getting close to tax season and then there is the stimulus package we have received recently so when I came across this article thought it was a good read to share.
Read Step by Step Guide to Creating Your Budget:

Budgeting is a critical skill for anyone pursuing financial independence. Read this article to discover the simplest way to create a functional budget, ASAP.

03/10/2021

I found this article and thought of sharing it with all of you. Read Two Ways to Prepare for Financial Emergencies:

So the best way to deal with one is to prepare for it in advance. Below are two extremely effective and relatively easy steps that can help you prepare so that when something does happen, your financial strategy isn’t thrown into disarray because of unplanned expenses.

03/03/2021

During this time of uncertainty this message rings through even to this day, especially now as we are in March 2021 and trying to get back to some semblance of normalcy. Hope this article helps.

Here's how to grow your money in a tough 2020

09/04/2020

One of the more pivotal books I have read to date. I truly believe everyone should read and have a copy of this book. Look it up. https://howmoneyworks.com/sheldontenia/media