How To Make More Money

Do you want to make more money at work, but you never get promoted? Ever ask yourself why you don’t get promoted even though you “work hard”? If that sounds like you, keep reading…

Before we get into the secret of making more money at work, here are a few reasons why—besides the obvious—it’s so important:

  1. The more money you make, the more you can save in your 401k, which will…
  2.  Help you become a millionaire faster, which will…
  3.  Improve your personal finance outlook.
Picture of George Washington pointing down towards the content below.
Below we’ll detail the secrets to making more money.
These are just a few reasons why you should be interested in making more money. And making more money often involves getting promoted at work.

Whether you’re fresh out of school or you’ve been in the workforce a few years and want to know the secret to getting promoted and therefore making more money, then you have come to the right place. Lucky for you, Dollabuzz has…

The Secret to Getting Promoted at Work.

Hello, Dollabuzz readers! Today, we’re going to fill you in on how to succeed and get promoted at work. In case you’re new to Dollabuzz, we’ve previously covered the secret to asking for a raise and getting it.

Getting promoted at work means getting paid mo’ money, and mo’ money is what Dollabuzz is all about. If you don’t know, now you know! So let’s get to the money and find out what you’re about to learn today. Here are the topics we’re going to cover:

  • What you think you need to do to get ahead and why it’s wrong,
  • How you get promoted by working less,
  • The one magic word that will help you succeed, and
  • The power of reciprocity

Dollabuzz is here to help you get your money right, and part of that involves showing you the secrets to success that you might’ve never heard before. Being promoted usually means mo’ money for you. But how do you do it? Work really, really hard? Well, maybe—but Dollabuzz has a better idea.

We’re cool with hard work, but why would you want to do more than absolutely necessary? We’re all about working smart and letting the non ‘buzzers do the really, really hard work. So let’s see how you can Dollabuzz at work and earn more money!

A businessman breaking through a wall while saying on the way to success.
Dollabuzz will help you break down barriers to success.

What You THINK You Need to Do to Get Promoted at Work.

Work really hard and you will succeed. That’s what we’re all taught from an early age. No one ever tells us, “Hey, do less and you can succeed.” Well, Dollabuzz is here to flip the script on the “work really hard” theory. Remember, we’re cool with hard work, but not more than necessary.

(1) Work Hard… but Not Too Hard

What do I mean by “work hard but not too hard”? This statement means do what is asked of you by your boss first and get that nailed down until it’s second nature. You run your current workload on autopilot and then you expand the amount of work you do. Once you’re on autopilot, then you volunteer for that special project.

Too often, newbies at work want to impress their boss, so they take on more work than they can handle. You get an “A” for effort, but nothing else. Taking on other projects before you get your basic workload on autopilot will lead to you working too hard. Staying late and working on the weekends to get caught up and hoping your boss will notice? Nah, brah—you workin’ too hard.

Be sure you work smart and Dollabuzz.
Working smarter and simpler will help you get promoted

Working smarter and not harder is the key. Smarter means finding a way to get more done while doing less. Work smarter by following these steps:

  • Check your email only three times a day.
  • Attend fewer meetings. And if you host a meeting, provide an agenda. Keep the meeting to 30 minutes or less.
  • Keep things simple. The simple answer or solution is usually the correct one.
  • Focus on what is truly important by asking yourself: Is what I’m doing providing value? How can I provide value, simplify a process, or improve efficiency?

Focusing on what’s truly important is what your boss will notice. When everything you’re supposed to do is done well and you provide value, you’ll start to get noticed. Then, your boss will see the efficiencies you’ve created and the value you add to the company. This is how you get promoted.

(2) Delegate Responsibilities: Tell Other People What to Do

You can’t do everything alone. Find ways to delegate if you want to succeed.

“Delegate” is the professional term for telling people what to do. You can’t do everything; nor should you. If there’s a menial task you can delegate to someone else, then do it. For example, we have one person keep track of all the timesheets for our jobs. Instead of us all entering the budgeted hours, we send timesheets to one person who specializes in doing it; and they get it done fast.

Another example is when I lead the C-Level interviews at work. I don’t take or write up the interview notes. We’re interviewing CEOs, CFOs, and board members, and I delegate note-taking to a less senior examiner. This allows me to focus on the interview and kick ass at the really important task of leading the interviews.

(3) Learn to Use the One Magic Word that Will Help You Succeed

Succeeding at work and being promoted requires using one magic word. That magic word is: “No.” Really, Mr. Dollabuzz? Yes, loyal reader. The ability to say no greatly influences our success, but saying no is hard. We are conditioned to help people, and usually that means saying yes. But often times saying yes to something comes at the expense of something else, like your own work and success.

You can be a team player and still say no. You just have to be very selective in what you say yes to. A “yes” answer should come only if it is truly going to benefit you and your team. Only say yes to the meeting if you have received the agenda and your active participation is required.

Be careful when you say yes, and don’t be afraid to say no.
Be Careful What You Agree To

Studies have shown that we are likely to act as we have in the past. For example, if you always say yes to one of your co-workers, then it will become very hard to say no to that person in the future.

Often, the requests start off simple, but future request will inevitably require more time and effort. You will have a hard time saying no to these more time-consuming requests because you’ve already set the standard of saying yes in the past.

(4) Understand the Power of Reciprocity

“People say yes to those they owe.” – Robert Cialdini

As we close out today’s post, I wanted to discuss the power of reciprocity. The great Robert Cialdini provides a quick overview of this secret power and how you can use it to your benefit. Be proactive and do something simple and easy for someone you work with, and they will be inclined to return the favor.

For example, if you see your co-worker’s report at the copier, bring it to them. Later, you can ask them for a favor that will help you out. Our society has conditioned us to return the favor. Additionally, if you want someone to like you more, offer them something warm to drink. People who like you will be inclined to help you.

Recap: The Secret to Getting Promoted…

  • Work hard—but not really, really hard,
  • Delegate (tell other people what to do),
  • Use the magic and powerful word “NO,” and
  • Understand the power of reciprocity

Remember these 4 keys and you’ll be promoted and Dollabuzzin’ in no time.

Do you want to learn how to become a millionaire?

Check out our How to Become a Millionaire page.

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Should You Buy a New Car?

The True Cost of Buying a New Car

Should you buy a new car? Who doesn’t want to drive a new car? Mr. Dollabuzz sure does. So why doesn’t he? Dollabuzz discusses how a new car will get in the way of your personal finance goals and it’s impact on your money.
Dollabuzz readers whaaats up? Ya’ll know what time it is. Its time to talk about money! With auto sales near record highs today is an opportunity for us to answer  the age-old question of should you buy a new car?
Everyone wants to drive the hottest auto and I am no different. I want a new(er) car so bad. Ask my wife and she will tell you I drive through the dealership quite often.
So why don’t you buy a new car Mr. Dollabuzz? First, buying a new car would not allow me to reach my personal finance goals. The money I would pay for that new car would cost tens of thousands of dollars more than the actual price of the car. We’ll cover this in more detail later but lets get to the money!
Today, we are going to show you:
  • The true cost (opportunity cost) of a car and its impact on your personal finances
  • How To Dollabuzz your car so you get more for your money
  • Why you should not buy a warranty for the car you just purchased
  • The exception to every rule

My Story: Used Cars and Money

I have driven used cars my whole life and I am tired of driving my 2008 Focus with 177,463 miles. Talk about BORING! Since graduating from college I have owned three cars. All used, boring cars purchased for around $10,000 and driven for 200,000 miles.
My previous car had over 200,000 miles and  was beat up. I sold it to a guy working at a liquor store for $350 and a 40 oz of Bud Ice. I sold it because the widows no longer worked and it was almost the summer . I drove the car all winter with no power windows.
But these boring cars have contributed greatly to my Dollabuzz and  allowed me to reach my personal finance goals. The money saved buying used cars allowed me to invest and put me on track to get my money right.
How cars impact your personal finance and money goals
How I Dollabuzz. 2008 style.
I can “afford” to buy the car I want. The bank would approve the loan faster than a screamin demon commin down yo street. Dang. What car have you buzzin like that? A 2013-2014 black Charger with chrome rims and a moon roof. As an additional bonus there is plenty of room for a car seat. So how come you haven’t bought one? Buying this car would get in the way of my Dollabuzz and personal finance goals. Lets see how loyal Dollabuzz reader!

True Cost (Opportunity Cost) of A New Car

In 2016 the average new car price was $33,000 but lets say you find a smooth ride for $25,000. Toss on sales tax of $1500 and now you talking $26,500.  Five (5!) year car notes seem to be very popular and allow you to “afford” this car with a “low” payment. Pay your new ride off over 5 years and you have a $475 monthly payment.

A new(er) will cost a lot of money and interfere with your personal finance goals.
Should I borrow money for a car? Not If I wanna Dollabuzz.

Over five years you’ll also pay $2000 in interest. That is A LOT of cash money. Tack on $150 a month for insurance and now that car costs $625 a month. Insurance adds an extra $9,000 to the cost of the car so the true cost of that new whip is $37,500.  Zoinks!

 Dollabuzz Your Car and Your Money

Dollabuzz your car, money and personal fiance goals
Dollabuzz Your Car and money
You can have a nice car but at a fraction of the price of a new car. You simply Dollabuzz your car and here is how you do it:
I drove past a dealership the other day and there is a 2009 Lexus IS250 for $11,000. Add $660 in taxes, $1000 for interest and that Lexo now cost $13,660 but lets round up to $14,000 and keep our math simple. You now have a payment of $216 and add on $100 for insurance and now you are at $316 a month. Total cost of your Dollabuzz ride: $13,660
Did I mention its black with a moon roof and a sharp-looking ride? Yes it has a lot of miles (over 80,000) on it but when you buy a Lexus you will get a very reliable car. This Lexo will save you at LEAST $23,840(!!!) compared to that new car. Instead of a $625 a month payment, your payment is $316 which is a savings of $309 a month. This Lexo is HALF the new car!
 Opportunity Cost: Show Me The Money!
Opportunity cost? Mr. Dollabuzz you are losing me! Hang on loyal reader because here is where the Dollabuzz comes in. Invest that $309 a month you saved buying that tight Lexo in your Roth IRA or 401k for five years at 7% and you would have $22,264.
In addition to the $23,840 not spent buying the new car, the $22,264 in investments would give you a total net gain of $46,104! Cha Ching! The $46,104 is the opportunity cost, the real cost of buying that new car.
We can talk about budgets, coupons, and frugal living all day like other blogs but at Dollabuzz, we are about big money and want our readers to think big, dream big, and become millionaires. Budgets etc are important but sometimes you need to think big about your money and personal finances.
That my readers and loyal followers is how you Dollabuzz your car. Feel free to do the money dance.

Please Don’t Buy the Warranty!

Please don’t buy the warranty the dealership will pressure you to purchase. Warranties are the gritz n gravy, the cash money cow, the cats meow of auto sales and are big profit center for the dealership.

Would a business sell you something if they were going to lose money? Oh hell no. The dealership aint got no time for that and neither should you. Do not buy the warranty!

Should You Buy a New Car? Not if You Wanna Dollabuzz

I cant emphasize enough how driving used cars has helped me get my money right and strengthen my personal finances. In addition to investing in myself through education, buying used cars for $10,000 is how I Dollabuzz.

My current car is paid off which helped me purchase a rental house last year. This house cost us $45,000 but we are netting $6,500 a year for a 14.4% return. Last year I had two choices: buy that Charger or invest in real estate. Knowing the true cost of that Charger made it easy to Dollabuzz and answered the question should I borrow money for a car?

Rental House Paid For In Cash = Dollabuzz.

Why You Should Open a Betterment Account

Taking the First Step Toward Wealth with Betterment

Welcome to Dollabuzz! For those just off the bench and new to the game, investing in the stock market can be confusing and intimidating. But don’t worry—it’s actually pretty simple. Here at Dollabuzz, we believe that investing in the stock market for the LONG term is essential. We’re not about get-rich-quick scams here; we’re about building wealth over the long term, which is done by investing through Betterment.

one hundred dollar bills wrapped in a rubber band
Investing for the long haul will allow you to Get.Your.Money.Right

Opening a Betterment account is a great way to get started, no matter how much money you have. Betterment is a low-cost investing service that can get you on the path toward achieving your investing goals. Start your Betterment journey NOW and you’ll be feeling a strong Dollabuzz in no time.

Why I Recommend Betterment

I discovered Betterment when I was 19 years old. I started by putting $100/month into a Roth IRA account. The cost was low, the interface was easy to use, and it had the account types I was looking for. For the first year of my Betterment account, I paid less than a crumpled-up Lincoln in fees.

File:Lincoln on 5 USD bill.jpg
For the first year of my Betterment account, this is how much I paid in fees.

That’s a Dollabuzz right there. This is dirt cheap compared to many other accounts. Their website and mobile app are really simple and easy to use, especially for beginners. Betterment makes it painless to open the account type you want and check up on your investments.

Betterment’s Available Options

Betterment is a straightforward service, and you DO NOT have to hand over bags of cash. At Dollabuzz, we recommend opening an IRA or 401k as soon as you can. The Roth and traditional IRAs have different tax advantages, so you have to find which works best for you. Just remember, in the long-term, every dolla bill adds up!

How Does Betterment Work?

Betterment uses Exchange Traded Funds (ETFs) as their investments vehicle. This includes four bond ETFs and six ETFs that are made up of different stocks. This simplifies your investing portfolio, and you get to decide what percent you’re invested in each. If you’re not sure how aggressive or conservative you should be, Betterment will start you off with their best recommendation. Keepin’ it simple!

How to Join Betterment

Betterment.com is the website, and you’ll find a “Get Started” button right on the homepage. This will get you rolling with the sign-up process and you’ll be asked a few questions. These are designed to give them a better understanding of the kind of investor you are, as well as your risk tolerance.

sign that says investment

After Creating Your Betterment Account

Once you sign in, you’ll connect your checking account in order to transfer funds to your account. Next, you’ll select the type of account you’d like to open; this will vary for everyone depending on their individual situation.

Keep in mind that just because you’re invested in ETFs and not picking individual stocks/bonds, this is still the stock market. Whenever you invest in the stock market, there’s always a chance you could lose some or all of what you have invested. Check back in periodically and adjust your investing strategy as your life and the market changes.

Other Ways to Dollabuzz

I recommend Betterment because it’s an investing service that I use myself—and I have for a long time—but I understand that it’s not right for everyone. There are similar sites (like Wealthfront.com) which are also popular, but I don’t have any money invested there myself. It’s impossible to keep track of all the options out there, so if you know of any that should be mentioned, please send me an email and I’ll check it out!

wealthfront logo
Wealthfront is another investing platform.

Dollabuzz Takeaway

We believe that investing in the stock market for the long-term is essential to a strong Dollabuzz, and historically the stock market has provided a way to build wealth. Will there be bumps in the road? You bet—it’s always been this way, and it won’t stop anytime soon. Some years are better than others, but in the long term, the stock market is a smart way to make money.

Making smart money decisions and having a money plan are the keys to financial success. If you have any other questions about Betterment or any other topics I’ve discussed, I would love to hear from you. Shoot me an email and I’ll respond as soon as possible.

Dollabuzz Update: Good thing you stuck around until the end, because we have something new to share. Ever heard of the stock-trading app Robinhood?! As a special reward, check out the new post on Robinhood and find out why it is the HOLY GRAIL for new investors! Commission-free, of course!