B1 L50 – 20/80 Principle

It is hard to believe, but often doing only a few things can eliminate hordes of problems. It all has to do with a basic economic principle, though. This rule, called the 20/80 principle, is quite old, beginning all the way back in the early 1800s. Frequently called the Pareto Principle, 20/80 is an economic theory named after its creator, Vilfredo Pareto, in the year … Continue reading B1 L50 – 20/80 Principle

B1 L45 – Buying Depreciating Items on Loan

When people run out of money, one of the first places they go is the bank. The bank is happy to hand out a loan, on their terms. Sometimes the money is well spent, other times it isn’t. Most people pay off their debts over the years, while others just decide to default and lose their credit score. However, the one thing most people don’t … Continue reading B1 L45 – Buying Depreciating Items on Loan

B1 L40 – 10% Savings

 The book Richest Man in Babylon teaches the management of money. The most prominent rule that it states is “10% of what I earn is mine to save.” That statement is closely followed by “Our expenses will grow to match our incomes unless we protest to the contrary.”    In short, this means to cut back on expenses as a way to save for later. That … Continue reading B1 L40 – 10% Savings

B1 L35 – Small Business Vs. Apprenticeship

When you are searching for a way to make money, three options are usually available: A job in a business that’s already growing, apprenticeship, or starting a small business. Commonly the second two options are discarded for college or other scheduling problems. However, in my case, all three would work because I am a homeschooler. Though any of the three options would work, I opted … Continue reading B1 L35 – Small Business Vs. Apprenticeship

B1 L25 – Going the Extra Mile

B1 L25 P1 – Going the Extra Mile “What are you willing to settle for one year from now?” I’d settle for being a good officer in JROTC and maybe have the property house going.  Maybe I’ll be starting my trailer house by then. “What are you willing to settle for on your eighteenth birthday?” By that point, I will be out of high school, … Continue reading B1 L25 – Going the Extra Mile

B1L15 – How Entrepreneurship Will Guarantee My Employment in 2030

            The world is changing. Robots are becoming a very common commodity, causing the loss of many jobs because of large companies. The result was that after the recession of 1999, the economy recovered, the GDP came back, everything came back except one thing – jobs. This is why being an entrepreneur is a good way to guarantee my employment … Continue reading B1L15 – How Entrepreneurship Will Guarantee My Employment in 2030