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The Perils of Being Cheap and Tips on Frugality - P A R A D I G M . M O N E Y
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Digm Piece (Op-Ed)

The Perils of Being Cheap and Tips on Frugality

Finding comparable substitutes is admirable; it’s a good attribute to possess. Let’s discover what cheap and frugal truly are and how to be more financially savvy when it comes to both.

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Would you consider yourself cheap or frugal? There is a fine line between the two. Yes, some things you just can’t skip on like cheese, shoes, and airplane tickets. You don’t want to find yourself on a flight with cattle, 3 layovers, arriving miles away from your destination.  The saying you get what you pay for is true considering your purchase. Finding comparable substitutes is admirable; it’s a good attribute to possess. Let’s discover what cheap and frugal truly are and how to be more financially savvy when it comes to both.

To be frugal is to make purchasing decisions sparingly. Buying out of necessity first and then out of desire. And even when checking off your wish list of wants, you still consider prices and seek to find the best deal possible. That’s not being cheap! Cheap, on the other hand, is settling for less quality and even going without altogether.

The dangers in being cheap is that you end up paying more in the long run. Replacing that $5 – dollar phone charger from the corner store; spending twice as much on the leaky ceiling to repair the original issue and the one you caused while trying to patch it yourself; or taking back that tacky (and cheap) outfit you bought just because it was on sale. A cheap mentality doesn’t get you far.  In fact, it holds you back from making money and rich memories.

Moving forward be frugal; consider your options and seek quality for a good price versus just a low price. In doing so, you’ll have better experiences and more money to show for it.

Tashima Jones is co-founder of Tashima Jones Media, an online television platform & advertising company connected to the independent creative. She is also the author of Being Broke Made Me Rich, a financial memoir likened to Paulo Coelho’s The Alchemist based on personal experiences and the lessons they taught on being rich. Visit www.TashimaJones.com for more.

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Digm Piece (Op-Ed)

Top Ten Freshman Money Myths

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Starting college is one of the most important and exciting times of your life. Now that you’re all “checked-in,” enjoy your college experience without worrying about where your next meal will come from by chasing away these common freshman money myths. (more…)

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Digm Piece (Op-Ed)

Do What You Love for Free – Here’s Why

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This is ParadigmMoney.Com, right? So, speaking about a paradigm shift should come as no surprise. In science and philosophy, a paradigm is a distinct set of concepts or thought patterns, including theories, research methods, postulates, and standards for what constitutes legitimate contributions to a field. When speaking about money, most believe it is something you work for and not something that works for you. In all truth, the one percenters understand this concept quite well. In order, to wake up and do what you love, you too must shift your thoughts when it comes to finances.

Doing what you love for free allows you to create freely. You can come up with disruptive, out of this world, never seen before creations that will rock this planet. Take Elon Musk from South Africa, founder of X.com which went on to become PayPal and sold to eBay for 1.5 billion dollars. Musk is also the CEO of SpaceX which designs, manufactures and launches advanced rockets and spacecraft. The company was founded to revolutionize space technology, with the ultimate goal of enabling people to live on other planets. You may say, of course, he can do this, he is a billionaire and co-founder of Tesla.

Not true. PayPal, Tesla, and SpaceX are all products of Musk doing what he loved. As a child, he was an avid reader and taught himself computer programming leading to the creation of X.com. He dropped out of college to start a company with his brother and here’s what he had to say about that PayPal deal… “My proceeds from the PayPal acquisition were $180 million. I put $100 million in SpaceX, $70m in Tesla, and $10m in Solar City. I had to borrow money for rent.” Elon Musk’s current net worth is estimated to be at about $13.3 billion. No bad at all.

The reality of the matter is the less you are attached to money the more money flows to you. Pay more attention to creating things that move the culture forward. Starting at doing what you love with ultimately position you for financial success and happiness.

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How Much Does College Cost?

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How much does college cost these days? If you’re preparing to go to college and will need to find a way to finance your own education, this is one of the first steps to figure out.  Then you’ll want to find out all of your options and create a plan. Here’s a quick breakdown on the typical cost of college. (more…)

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