One Dollar, One Million Personal Finance Seminar Aug 27

Contact: Rikki Grooms, CEO
Phone: 202-431-8008
Email: PersonalFinance4ThePeople@gmail.com

FOR IMMEDIATE RELEASE

PERSONAL FINANCE 4 THE PEOPLE TEACHES HOW TO MAKE
ONE DOLLAR EQUAL ONE MILLION WITH NEW SEMINAR

AUGUST 8, 2011 (OXON HILL, MD.) - We’ve always heard the phrase (and most of us realize it’s actually true once we get our first taste of adult responsibility), that “money doesn’t grow on trees,” but that doesn’t mean you can’t make the money you DO have grow... On Saturday, August 27, 2011, Personal Finance 4 The People (PF4TP) will host a 2-hour financial seminar on something more people should know, but don’t: the basics of attaining financial success. Taking place at the Oxon Hill Library (6200 Oxon Hill Road) from 10-2pm (one seminar at 10, one at 12), the “One Dollar, One Million” seminar will be held for just $10 to allow everyone to attend and learn the secrets of successful personal finance - how to make one dollar become one million.

With the current state of the American economy, consumers are drowning in their financial responsibilities, creating empty pockets and extreme debt for the average and below-average citizen. The underprivileged minority members of society are feeling the brunt of the deficit, and PF4TP’s mission is to assist those individuals in making better decisions with their funds to ensure a stress-free financial future for themselves and their families. The August 27th seminar will cover basic financial education, debt reduction/management, savings, and budgeting, and will allow for attendees to speak one-on-one with Rikki Grooms, CEO of PF4TP. Attendees are encouraged to become involved and ask questions, and network with the company and their peers as they take the first steps towards financial freedom.

For more information on “One Dollar, One Million,” please email PersonalFinance4ThePeople@gmail.com, or call Rikki Grooms at 202-431-8008.

###

ABOUT - Personal Finance 4 The People
PF4TP aims to reach out to those individuals who lack financial education while instilling the fundamental principles and importance of being financially independent. With a societal focus, PF4TP focuses on those types of behaviors that are often cyclical and universal to those who are minorities in the general society (i.e. African Americans, women, LBGTQI, Latino, single parents, young parents, and/or under or poorly educated) and underemployed, unemployed, or disenfranchised by the system.

The Latte Factor: The Price of Convenience

David Bach author of the Finish Rich and Automatic Millionaire series teaches about the power of the Latte. Not like super powers, unless you count slowly draining you of your hard earned money, but the power meaning how much of a role continually spending little bits of money everyday add up and negatively affect your finances. Bach uses the morning cup of coffee to explain how this works, but it really works with anything you buy continually; like lunch and that afternoon snack.



The Latte Factor can be that one thing that keeps your budget from working, thus keeping you from reaching your financial goals. Think about it….

That morning cup of Starbucks, let’s say, $5 a morning.
$5 x 5 days a week = $25
$25 x 4 weeks a month = $100
$100 a month x 12 months a year = $1,200


That's a lot of money!

$1,200 a year for a morning cup of coffee. And that’s not adding your morning Danish, or your lunch or your afternoon snack.

$1,200 a year for coffee, when you could buy coffee from the grocery store and bring it to work (a piece of fruit, granola bar, and nuts for snacks) and you save yourself so much money over the course of a year.

One of the first things I do when I am working with a client is to ask them to tell me what they THINK their spending is, THEN we go over what their spending ACTUALLY is. Every time there is a BIG difference. Unless our spending habits are laid out in front of us in of them in black and white. It’s always a shock.

The Latte Factor is one way to cut back your spending and be more conscious of what you spend your money on. Many things we buy are convince items that if we spent the same amount in the grocery store our money would go much further.

Go to the grocery store with a list, use coupons and see how much more money you have and depending on what you buy see how much healthier you are.

The Latte Factor Calculator – give it a try and see…

If you cut out one item you buy for convince how much would you save a month?

Book of the Month Contest: Smart Women Finish Rich

Every month PF4TP is going to being holding a contest for the "Book of the Month". The winner will be the personal with the best answer to the month's contest question and will be choosen on the 15th of each month. To enter, Like our Facebook page and leave your entry on our wall.

This Month's Book:

Smart Women Finish Rich by David Bach




For me, this is the book that started this whole movement I am starting towards financial independence for the underserved. A good friend of mine suggested I read this book when I told her I was having financial trouble while I was in Grad School. After reading this book I started really getting into personal finance and reading as many blogs as I could. And the rest is history….lol…..

Things I learned from the book:

1. Spending a little bit on coffee or a bag of chips adds up. Bach calls this the “Latte Factor”. Cutting back on how much is spent on waste full things, which could be brought from home for much cheaper, can save a lot of money. You would be surprised. Think about it….if you spend $3.50 a day on coffee, in a week you have spent $17.50, in a month $70, in a year $840 on coffee that you could make at home. Now think about all those little things you buy daily and how much money you waste. The biggest waste of money, to me, is buying lunch instead of bringing it from home. I bring my lunch almost every day and notice a big difference in how much more money I spend on days I bring my lunch.

2. In the beginning of the book Bach told of his grandmother and how she taught him about investing. She told him to invest in things he liked, so his first stock purchases were McDonalds as a young boy. When I start investing, I know my strategy…

3. Taking the time to find out where your money is going will change how you spend your money. At the time I first read this book I was spending about $150 a week eating out in the campus fast food places. After noticing this is started cooking (I learned I love to cook also) and now have signature dishes that people request.

4. Trying to keep up with the “Jones’” is the best way to end up in a bad financial position.

5. You have to start somewhere in your journey towards financial independence, why not here? Now? Bach focused this book on women because women so often play no part in the financial aspect of their relationships, but the lessons can be for anyone.

The Contest Question for this month is:

What is the best advice (or example was set for you) you received as a child about money?