This week will be challenging to say the least. My wife and I (ok so mostly my wife) will begin potty training our child. We have been anticipating this day and it is finally upon us. [Budgeting is a Lot Like Potty Training Your Child]

Hopefully potty training boot camp will end up saving us considerably on the cost of diapers and baby wipes. Those things are expensive!

The Cost of Diapers

We opted for disposable diapers over cloth diapers for various reasons: ease of use, community washers, and I just don’t want to touch poop.–I’m willing to add a line item for this in our budget. I know my eco-friendly friends they aren’t the best for the environment–please don’t judge us too much.

How much have these diapers and wipes cost us? I haven’t kept a close track like Budgets Are Sexy with his Child Cost Tracker. I took a quick look over the past 22 months and it averages out to around $55 a month. $55 x 22 = $1,210 we’ve spent on diapering our boy.

Wow! His diapers could have paid rent one month or funded 1/5 of a ROTH IRA. Hopefully diapering is about to become less expensive.

The Cost of Preparing for Potty Training

We have a minimal cost as we prepare for our 3 day potty training  adventure.

  • Potty Book- Free. I just looked online and it costs $24.00, but someone passed it on to us. We’ll need to purchase the book later.
  • Kids toilet- Hand me down = free
  • 2 Five packs of big boy underwear- Cars and Thomas the Train $23.98 (we paid premium for ones he’ll like)
  • Crayons, stickers, prizes $14.11
  • Taxes $3.33
  • Total $41.42 

Projected Savings of Potty Training

According to the University of MIchigan Health Systems, the average age for potting training girls is 29 months and boys is 31 months. They also state that 98% of children are fully potty trained by 36 months.

If our boy is a fast learner and can figure out this potty training by his 23rd month instead of his 31st month we’re looking at more than $440 of savings on diapers (costs have been higher as his sizes have increased).

Good thing since he’s eating costs are rising. He’ll also qualify to attend preschool which may help us increase our income should we choose.

Have you potty trained your child? What did you do with all the extra diaper money you saved? 

Long and Winding Road

Blogging is a long and winding road. Credit Anthony Stanley.

It’s easy to make money blogging right? Bloggers just play on the Internet all day while sipping their grande lattes at Starbucks and watch the money roll in.

It’s not as easy as some make it out to be, Making money with your blog takes an investment of time and energy. Yes, it can be done, but it’s hard–trust me!

I am starting to see a trickle of income from various sources, but only after having written 200+ articles. It takes time, work, friends, patience, and of course an audience–thats you!

Blogging is about helping others and forming a community; the money is visible proof you’re doing a good job.

How Do Professional Bloggers Make Money?

This is a complex question whole websites are dedicated towards. I’ll only touch on a few subjects and share resources that have helped myself and others make money blogging.

Content Really is King

Without words on a page and a compelling message to share it’s highly unlikely you’ll make money blogging. Find a topic, a cause, a community, a niche and start educating and helping others master your subject of expertise.

Resources for Writing and Content:

Affiliate Programs: The Trickle of Gold 

Affiliate programs pay a certain amount if you refer clients or leads to their website or help them sell a product. Almost all companies have an affiliate program of some sort. This can be very lucrative for niche sites with a large interactive audience.

Affiliate programs I use:

  • Amazon Associates- You’ll make commission off sales from books, clothing, to almost any product sold. A must to have in your toolkit.
  • Google Affiliate Network – This is a newer affiliate program, but many major companies like Target have joined. With Google’s muscles they’ll only grow with time.
  • Commission Junction- Start here since it is one of the oldest and largest affiliate programs around.
  • Flex Offers- They represent a a wide array of advertisers not carried by Commission Junction.
  • 48 Days.Net - Affiliate Program for Dan Miller.
  • E-Junkie.com- Affiliate program I participate in for @8bit products like my Premium WordPress Theme (Standard Theme).

Sell Ads, Banner ads, and Evil Pop-ups

These are the billboards of the interwebs. Some blink, others play movies, others pop up before you can even click on the site–evil indeed.

Ads assist the content to keep flowing and the advertisers to sell their products and ideas. Beware of overdoing the ads and distracting the reader from doing their main job(s)–reading and connecting.

The above affiliate programs will also have banner ads to add to the sidebar or to the header or footer of your site.

Platforms to sell ads on your blog: 

Google Adsense- This is the most common system to implement. You’ll be able to ad ads to individual articles and anywhere on your site.

Beacon Ads- Advertising network for church and Christian websites.

BuySellAds Large platform to sell ad space.

This is just the tip of the iceberg as many platforms exists for various niche sites.

Create Products and Coaching Services

If you have a platform and an audience. This is a great opportunity to create a product or a service to meet the needs of your readers. This is where many bloggers make money since they’ve established themselves as experts in their field.

  • E-books
  • Online Courses or Teleconferences.
  • Workshops
  • Personalized Coaching
  • Speaking Events

Text Links and Sponsored Posts: Beware

The practice of being paid for text links isn’t as popular as it used to be since Google’s Panda and Penguin updates, which penalize suspected paid text links. Blog more than 5 minutes and you’ll receive emails wanting to place ads and text links on your site.

This is a controversial subject on which there are many warnings to discontinue this once lucrative practice.

Books to Understand Blogging and Monetize Your Site

More Articles for Making Money Blogging

You can make money blogging, but it will take time. Don’t focus on the money, but helping others and creating a community. Blessings on your blogging journey.

Do you have experience making money online? What resources helped you along the way? 

The above may contain affiliate links in which I am compensated. See my Disclosure Policy for more info. 

Tricycle

My boy learning how to ride his Radio Flyer

All parents think their kids are cute. Thankfully in our case, our kid really is cute. People stop and tell us all the time and add, “He should be in commercials.” All that is going to our head and we think–why not?

We live in Los Angeles and people from all over the world come here to make it in “the industry”. Maybe our red head toddler could get a few gigs to save for college or 1st car. Our businesses could also hire my son for marketing and use that money to start a Roth IRA for him.

We are realistic and don’t really want our kid to become some burnt out crazy child star, we’d be thrilled with a gig or two.

If it doesn’t work out, we at least had a laugh or two.

How to Begin Your Child’s Acting Career in Los Angeles

1. First, you’ll need a really cute kid and/or one with special talents and dynamic personality. Most kids fit this bill, so let’s move on.

2. You’ll need to move to Los Angeles to be near the action and ready to trek out to auditions on a moments notice. I hear there is a whole community of child actors in Toluca Hills for pilot season.

3. Time for some professional head shots. These need to be high quality, not taken on your iphone. I’d recommend Jay Todd, he’s great with kids.

4. Find a top notch agent who will find opportunities for your cute kid. They’ll take 10% of your earnings, but hey without them you’ll get zilch. If any agent wants money upfront, run away. Read more about agents and managers here. For a listings of AFTRA agents click here.

5. Wait and pray for the phone to ring. In the meantime, you’ll need to iron out more financial and legal details while you’re waiting for the auditions.

Finances and Legal Aspects for Child Actors in Los Angeles

You’ll need to iron out these details before you start hauling your kid to auditions and a contract is signed. A good agent should be able to help navigate the legal waters and ensure compliance.

1. Establish a bank account or trust for your future child actor. For California residents this is called a Coogan Account or blocked trust account. This account protects the child’s earnings until the age of 18. The Coogan Law states that within 15 days of being paid, 15% of the gross income must be deposited in the trust and a copy of the bank statement sent to the employer for proof.

Optional banks that offer Coogan Accounts:

2. Make sure you’re compliant with California child labor laws by having an 1) entertainment work permit and 2) a work permit for your minor child. Learn how to apply for these at here.

3. Find a good lawyer to review any contracts before signing. You don’t want to lock your child into terms or conditions that you don’t agree with.

4. In between auditions is a great time for you child to take acting classes or network with other parents of child actors.

Above all have fun and make sure your child is also having fun.

Do you have any tips for child actors? 

my headshotThis is an interview conducted via email with California Realtor Lauri Trapp (License #01265988) regarding short sales. No compensation was exchanged for the purpose of this interview. 

1. Briefly describe how you became a professional Realtor and your experience dealing with short sales. 

I became a licensed Realtor in 1999. When the market began adjusting in 2008 I starting working with a broker that dealt primarily in the short sale market. I worked for this broker for about a year and learned how to advise distressed homeowners in their options and negotiate with their banks to obtain short sale approvals.

2. In your opinion, who should consider a short sale? 

I would say that anyone struggling to keep up on their mortgage payments or unable to make ends meet due to high payments should consider a short sale. In addition, it can be a great option for anyone who is significantly upside down on his or her home value.

I (Brent) would not advocate a short sale based solely on being underwater on your home, nor would I suggest a strategic walk away if you can make the payments. I believe a short sale should be used as a last resort to a foreclosure or in a case of extreme financial hardship.

3. Can you briefly describe how the short sale process works? 

In the short sale process the transaction is basically the same as a standard sale, except we must get lender approval to close the sale. Once a buyer is secured it is necessary to request approval from the lender to forgive the difference between the sales price and the amount owed on the loan.

Generally speaking the bank may request your last 2 months bank statements, 2 recent pay stubs, 2 years tax returns, a financial worksheet and hardship letter. The short sale is not contingent on any one of these items but is taken into consideration. The lender will evaluate the value of the home and If the offer is in line with the lenders value, the short sale should be approved.

The time frame for this process varies from lender to lender but can take anywhere from 2 to 4 months from the time the offer is submitted to the lender to close of escrow. Additionally the seller will not be required to pay any fees or closing costs and could qualify for a relocation fee of about $3000 or more from their lender to be paid at closing.

4. What are the major obstacles with a short sale? 

Since I began closing short sales over four years ago, I have seen a huge improvement in the process. In the past lenders were overwhelmed and understaffed and were unable to keep up with the request for short sales.

The process has become more streamlined and standard. Since we are waiting for lender approval, patience is required on everyone’s part. During the approval period there is a constant need to stay in communication with the lender in order to assure the process goes smoothly.

5. What advice do you have for someone considering a short sale? 

There’s no need to go through a foreclosure when your lender is willing to work with you to sale your property.

Be in communication with your lender so you know all of your options. If you feel you have exhausted all your options for keeping your property then start the process of the short sale. Hire a Realtor that has a proven record of bank negotiations and short sale approvals. They should take care of the entire sales process and help you to have a positive experience.

There’s no need to go through a foreclosure when your lender is willing to work with you to sale your property. If you are in a position where you are constantly struggling to stay afloat and make your mortgage payments and there is no equity in your home, a short sale is a great option.

Having little to no equity (being underwater) in your home is scary, yet irrelevant if you don’t have plans to move.

6. What is the role of a Realtor during a short sale?

The role of the Realtor is to bring the buyer and seller together just as in a standard sale. The added layer is negotiating with the lender for their approval. Some Realtors do their own negotiating with the lenders and others hire negotiators to work with lenders. I do all my own bank negotiations because I like to stay connected and involved directly with the lender throughout the process.

7. What else do you want to tell the readers about short sales?

If you are at a point that you cannot make your payments and it’s a constant struggle or if your house is significantly upside down, then you are no longer reaping the benefits of homeownership. Homeownership should not be a struggle or a stressful situation.

To contact California Realtor Lauri Trapp (License #01265988) about short sale questions or for help in a short sale in the Los Angeles area, email her at lauritrapp at gmail dot com.

Debtors Prison Historical Marker

Debtor’s Prison in Virginia. Credit jimmywayne

Debtors’ prisons still exist. What if you defaulted on your credit card payment and didn’t have the money to pay since you lost your job? This is a common occurrence in the west, but could you go to jail?

In, the U.S debtors’ prison no longer exists, but did you know that people around the world still go to prison for their debts? I found this shockingly true as I dug into the research for this article.

Debtors’ prison sounds like a tale out of an British Victorian era novel, yet it is a modern day reality. Debt both physically and virtually still holds millions in bondage.

Debtors’ Prison in the West

In England debtors prison was abolished with the Bankruptcy Act of 1896 and by the U.S. federal government in 1933. The states soon followed suite.

Before debtors’ prison was outlawed, debtors outnumbered violent criminals 5-1 with an estimated 50,000 debtors in jail in 1829 in the U.S. according to the Prison Discipline Society (source).

Recently there have been reported cases in the U.S. of a return of debtors’ prison, yet those people were arrested for a contempt of court or ignoring legal orders—NOT because of debt. You must respond to legal and court orders including child support, but you won’t be jailed (legally) for debt.

Modern Debtors’ Prisons Around the World

There are a few countries around the world that still imprison debtors.The most documented is that of the United Arab Emirates and Dubai in particular. Saudi Arabia also allows for jail for personal or corporate debt according to the British Embassy (see #8).

Hong Kong as recently as 1983 incarcerated 430 debtors, though I didn’t find information if this is still an ongoing policy. Rumors of debtors prison exist on China’s mainland, but again I wasn’t able to find reliable sources.

I am sure other countries exists that practice debtors’ prison, but this has been ignored by the western media or concealed by local governments.

A Virtual Debtors’ Prison

The United States doesn’t dole out jail time for debtors, yet millions are still held in the bondage of debt in a virtual debtors’ prison.

Debt is a virtual prison.

  • It limits and restricts how you can spend your time and energy.
  • It forces your money to be applied to areas you wouldn’t normally choose.
  • Mortgage debt has trapped many in their homes from relocating since they are owe more than they have equity (underwater).
  • Debt forces spouses to work, when they feel called to stay at home with their children.
  • It traps people in jobs they hate in order to keep a reliable wage.
  • Debt causes emotional, relational, and physical stress.
  • Being in debt restricts your freedom.

It is time for a jail break–to break free from the bondage of debt. It is possible! If you’d like to begin your great escape start by reading my series How to Pay Off Debt or hire me as your personal finance coach.