Why Universal Basic Income Won’t Work

After I listened to this short clip on the Wall Street Journal’s website over the weekend, I felt compelled to write a short article around Universal Basic Income because I think it is a topic that you will see bandied about a lot more over the next five to ten years.  http://on.wsj.com/2tZbLPp Chris Hughes who is the cofounder of Facebook, is one of the driving forces behind this movement along with Bill Gates and other tech giants who are strong proponents of Universal Basic Income (UBI). In his interview you can watch from the link I shared, Mr. Hughes says, “I think that something fundamentally in the economy has changed to create these winner take all markets, where a small number of hardworking people do very well, and nine out of 10 others are  also hardworking don’t enjoy the same opportunities.”  Mr. Hughes, I am sure they taught this at Harvard as standard course requirement but it is something called ...

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Here’s Why Your Friends Are Going Broke

Most of the time when we talk about personal finance, topics including credit card debt, savings, investments, insurance, and coupons creep into the discussion.   Since nobody wears their net worth pinned to their chest, we truly have no inkling what our neighbors real personal financial situation is at any given point and time.   What I promise you to be true is that what appears to be an ocean of success around you is merely nothing more than a mirage of many people living on an obligatory basis to pay their bills.   Your friends will never tell you they are drowning in quicksand, but people around you are going broke every day and here are the reasons why. EGO– Your ego is something that can make you stronger or become an insurmountable obstacle to achieving success.  Remember, your ego is the part of your mind that contains memory.  It is ultimately what shapes your planning and your reality.   When it comes ...

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Five Tips To Make The Most Of Your Frequent Flyer Programs

As I was cleaning out my dresser drawer the other day, it dawned on me just how many different frequent flyer programs I had signed up for over the years.   If anyone wanted to challenge me to a game of  airline or hotel point card roulette, I would be ready to play at any time.    Fortunately, I’ve gotten some software that I use personally, and with clients, that tabulates all of my frequent flyer programs including airline, hotel, car, and credit cards in one place every single night (e-mail me at ted@oxygenfinancial.net if you want one of these).  I can even see when points are posted from my last trip or when I have used them from my most recent vacation.      Once you know exactly what you have for frequent flyer programs, then comes the hard part of ‘how to’ make the most of what you have.   Here are five tips that can help you stretch your wallet. Look For ...

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Save $1,000 On Your Cell Phone Bill?

How is it possible that such a simple device like our mobile phone has become so complicated?  I can remember back in 1991 when I had my first cell phone (that I couldn’t even detach) installed into my beautiful Dodge Shadow.   A phone was used pretty simply to make a phone call.  Today, we’ve got texting, calling, messaging, games, and thousands of applications with the electronic wallet not too far behind.    This means as the CEO of your family finances, you’ve got to more closely assess the cost of doing business with your mobile phone choice and your provider.  It’s important that you proactively seek out how to keep your bill lower as your mobile phone provider won’t be calling you with a discount on the bill.  Here are five ways you can control the costs on your family cell phone bill, and maybe even save as much as a $1,000 in the process. 1)  AVOID CONTRACTS! BUY A CONTRACT-FREE PHONE:   ...

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Personal Finance 101 – College Education Planning – What kinds of money are available?

Last article we talked about FAFSA forms, federal student loans, and the process of when you should be filing for financial aid.   Many people get confused from the multitude of different loans that are available to them.   In my opinion, the massive federal deficit we are in now will only shrink the available amount of loans for students in the future.   It is important to understand how these loans work so you can set up the very best program for money that will need to be borrowed during your children’s college years. It is important to remember that this is a major difference between a grant and a loan.   A grant is something that does not have to be repaid whereas a loan is something that does have to be repaid.   Since there are a half dozen different types of grants and loans, do your own due diligence on how much free money you can get.    Here are some highlights ...

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