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All About Food Deserts

June 29, 2020

All About Food Deserts

You’re hungry.

You just got home from work, you haven’t had anything since lunch, and you need a bite to eat ASAP. What do you do? Most of us just pop over to the local grocery store, pick up some ingredients, and prepare a meal. But that’s actually not possible for many Americans who live in areas without access to fresh groceries. It’s a phenomenon known as “food deserts”, and it affects millions of people throughout the country.

What’s a food desert?
Defining food deserts can be tricky. Roughly speaking, a food desert is an area where residents have limited access to healthy food options. But limited access doesn’t always look the same. The United States Department of Agriculture looks at things like distance from grocery stores, income, and access to vehicles when delineating a food desert.(1) Consider a few examples…

Let’s say you live in a densely populated, low income, urban area. You and your neighbors mostly take public transportation to work, and there aren’t many cars to go around. While there might be plenty of gas stations and corner stores nearby, the closest supermarket or grocery store is around a mile away. Technically speaking, you live in a food desert. You don’t have easy access to healthy food options.

But there are examples from the other side of the spectrum. Let’s say you live in a low income rural area. You own a vehicle out of necessity, but your closest neighbors are a mile away and the closest real grocery store is over ten miles away. Once again, you would technically live in a food desert. The settings and details are totally different, but getting healthy food is still a massive hassle.

Why do food deserts matter?
Remember that a food desert is all about access to healthy food. There might be plenty of fast food and processed food to be found in urban and rural food deserts. But living on junk food carries a steep price tag. The upfront cost of constantly eating out can add up quickly. That’s already less than ideal for a family in a low-income neighborhood. But consuming junk food may also increase your risk for obesity and other health problems. That could eventually translate into increased healthcare expenses. It’s a double whammy of problems; you pay more for bad food that will cost you more later down the road!

How many people live in food deserts?
According to a 2009 report by the USDA, there were roughly 23.5 million people who lived in food deserts.(2) About half of those people were impoverished.(3) Americans drive on average over 6 miles to go grocery shopping.(4) In the Lower Mississippi Delta, locals sometimes drive over 30 miles just to find a supermarket!(5)

We’re still trying to figure out solutions for food deserts. Some communities have formed local gardens that grow fresh produce. Grocery trucks have started to pop up throughout the country, bringing healthy options into neighborhoods. Only time will tell for the long-term effectiveness of these solutions!

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Habits of Successful People

Habits of Successful People

Successful people come from all types of backgrounds.

But did you know there are certain habits they tend to have in common? What’s better yet, they’re mostly practices that don’t require a huge budget to start doing. Here are three concrete ways that you can imitate the wealthy—starting today!

Wake up early (but also get enough sleep)
Let’s establish right away that most people shouldn’t wake up at four in the morning if you’re going to bed at midnight. Lack of sleep can exacerbate or cause dozens of health and mental issues ranging from obesity to depression (1). That’s the exact opposite of what rising with the sun is supposed to do!

The primary perk of going to bed early and waking up early is that it helps give you control of your day. You’re not simply rolling out of bed forty-five minutes before work and coming home too tired to do anything useful. Instead, you get to devote your most productive hours to something that you care about, whether that’s meditating, working on a passion project, or exercising. Speaking of which…

Exercise
Exercise is something that the successful tend to prioritize. One survey found that 76 percent of the wealthy devoted 30 minutes or more a day to some kind of aerobic exercise (2). It seems obvious, but working out doesn’t just improve physical health; it can help ward off depression and increase mental sharpness (3). It’s no wonder so many successful people make time to exercise.

Read
Almost 9 out of 10 wealthy people surveyed said they devote thirty minutes a day to reading. Why? It turns out that it can improve mental awareness and helps keep your brain fine-tuned (4). But reading can also be a valuable way of expanding your perspective, learning new ideas, and drawing inspiration from unexpected places.

Some of these habits might seem intimidating. Switching your bedtime back three hours so you can wake up before sunrise is a big commitment, as is working out consistently or reading books if you’re just used to scanning social media. Try starting off small. Get out of bed thirty minutes earlier than usual for a week and see if that makes a difference. One day a week at the gym is much better than zero, and reading a worthwhile article (like this one!) might pique your appetite for more. Whatever your baby step is, keep expanding on it until you’re an early rising, iron-pumping, and well-read machine!

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7 Money-Saving Tips for Budgeting Beginners

January 27, 2020

7 Money-Saving Tips for Budgeting Beginners

Starting a budget from scratch can seem like a huge hassle.

You have to track down all of your expenses, organize them into a list or spreadsheet, figure out how much you want to save, etc., etc.

But budgeting doesn’t have to be difficult or overwhelming. Here are 7 easy and fun tips to help keep your budget in check and jump-start some new financial habits!

Take stock
Laying out all of your expenses at once can be a scary thought for many of us. One key is to keep your budget simple—figure out what expenses you do and don’t really need and see how much you have left over. This method will help you figure out how much spending money you actually have, how much your essential bills are, and where the rest of your money is going.

Start a spending diary
Writing down everything you spend for just a couple of weeks is an easy way of finding out where your spending issues lie. You might be surprised by how quickly those little purchases add up! It will also give you a clue about what you’re actually spending money on and places that you can cut back.

Don’t cut out all your luxuries. Don’t get so carried away with your budgeting that you cut out everything that brings you happiness. Remember, the point of a budget is to make your life less stressful, not miserable! There might be cheap or free alternatives for entertainment in your town, or some great restaurant coupons in those weekly mailers you usually toss out.

That being said, you might decide to eliminate some practices in order to save even more. Things like packing sandwiches for work instead of eating out every day, making coffee at home instead of purchasing it from a coffee shop, and checking out a consignment shop or thrift store for new outfits can really stretch those dollars.

Plan for emergencies
Emergency funds are critical for solid budgeting. It’s always better to get ahead of a car repair or unexpected doctor visit than letting one sneak up on you![i] Anticipating emergencies before they happen and planning accordingly is a budgeting essential that can save you stress (and maybe money) in the long run.

Have a goal in mind
Write down a budgeting goal, like getting debt free by a certain time or saving a specific amount for retirement. This will help you determine how much you want to save each week or month and what to cut. Most importantly, it will give you something concrete to work towards and a sense of accomplishment as you reach milestones. It’s a great way of motivating yourself to start budgeting and pushing through any temptations to stray off the plan!

Stay away from temptation
Unsubscribe from catalogs and sales emails. Unfollow your favorite brands on social media and install an ad blocker. Stop going to stores that tempt you, especially if you’re just “running in for one thing.” Your willpower may not be stronger than the “Christmas in July” mega sales, so just avoid temptation altogether.

Keep yourself inspired and connected
Communities make almost everything easier. Fortunately, there’s a whole virtual world of communities on social media dedicated to budgeting, getting out of debt, saving for early retirement, showing household savings hacks, and anything else you would ever want to know about managing money. They’re great places for picking up ideas and sharing your progress with others.

Budgeting and saving money don’t have to be tedious or hard. The rewards of having a comfortable bank account and being in control of your spending are sweet, so stay engaged in the process and keep learning!

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5 Things to Consider When Starting Your Own Business

July 10, 2019

5 Things to Consider When Starting Your Own Business

Does anything sound better than being your own boss?

Well, maybe a brand new sports car or free ice cream for life. But even a state-of-the-art fully-decked-out sports car will eventually need routine maintenance, and the taste of mint chocolate chip can get old after a while.

The same kinds of things can happen when you start your own business. There are many details to consider and seemingly endless tasks to keep organized after the initial excitement of being your own boss and keeping your own hours has faded. Circumstances are bound to come up that no one ever prepared you for!

Although this list is not exhaustive, here are 5 things to get you started when creating a business of your own:

1. Startup cost

The startup cost of your business depends heavily on the type of business you want to have. To estimate the startup cost, make a list of anything and everything you’ll need to finance in the first 6 months. Then take each expense and ask:

  • Is this cost fixed or variable?
  • Essential or optional?
  • One-time or recurring?

Once you’ve determined the frequency and necessity of each cost for the first 6 months, add it all together. Then you’ll have a ballpark idea of what your startup costs might be.

(Hint: Don’t forget to add a line item for those unplanned, miscellaneous expenses!)

2. Competitors

“Find a need, and fill it” is general advice for starting a successful business. But if the need is glaring, how many other businesses will be going after the same space to fill? And how do you create a business that can compete? After all, keeping your doors open and your business frequented is priority #1.

The simplest and most effective solution? Be great at what you do. Take the time to learn your business and the need you’re trying to fill – inside and out. Take a step back and think like a customer. Try to imagine how your competitors are failing at meeting customers’ needs. What can you do to solve those issues? Overcoming these hurdles can’t guarantee that your doors will stay open, but your knowledge, talent, and work ethic can set you apart from competitors from the start. This is what builds life-long relationships with customers – the kind of customers that will follow you wherever your business goes.

(Hint: The cost of your product or service should not be the main differentiator from your competition.)

3. Customer acquisition

The key to acquiring customers goes back to the need you’re trying to fill by running your business. If the demand for your product is high, customer acquisition may be easier. And there are always methods to bring in more. First and foremost, be aware of your brand and what your business offers. This will make identifying your target audience more accurate. Then market to them with a varied strategy on multiple fronts: content, email, and social media; search engine optimization; effective copywriting; and the use of analytics.

(Hint: The amount of money you spend on marketing – e.g. Google & Facebook ads – is not as important as who you are targeting. And fortunately for anyone curious about a career with Equis, they already have all the tools you could need to start and grow a lasting career – including access to leads!)

4. Building product inventory

This step points directly back to your startup cost. At the beginning, do as much research as you can, then stock your literal (or virtual) shelves with a bit of everything feasible you think your target audience may want or need. Track which products (or services) customers are gravitating towards – what items in your inventory disappear the most quickly? What services in your repertoire are the most requested? After a few weeks or months you’ll have real data to analyse. Then always keep the bestsellers on hand, followed closely by seasonal offerings. And don’t forget to consider making a couple of out-of-the-ordinary offerings available, just in case. Don’t underestimate the power of trying new things from time to time; you never know what could turn into a success.

(Hint: Try to let go of what your favorite items or services might be, if customers are not “biting”.)

5. Compliance with legal standards

Depending on what type of business you’re in, there may be standards and regulations that you must adhere to. For example, hiring employees falls under the jurisdiction of the Department of Labor and Federal Employment Laws. There are also State Labor Laws to consider. Be sure to do your research on all of the legal matters that can arise when beginning your own business.

(Hint: Here’s a good place to start for a company like yours: Equis Financial.)

Starting your own business is not an impossible task, especially when you’re prepared. And what makes preparing yourself even easier is becoming your own boss with an established company like Equis Financial.

For the cost of a license, you can become a certified Equis Agent. The need for financial professionals exists – everyone needs to know how money works, and many people need help in achieving financial independence. Equis works alongside industry-leading carriers to provide a portfolio of products that agents can be proud to offer their clients. We take pride in working with families to create a solution that best fits their needs and budget.

Anytime you’re ready, I’d be happy to share my experience with you as well as many other advantages to consider – when becoming an associate with Equis.

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