Why I Joined My Econ

What is MyEcon? My Econ is short for My Economy. It equips you with the knowledge and tools to become financially successful. The reason I joined MyEcon is because I understand the power of the knowledge they provide and have used some of the same strategies in the past to reach the goal of becoming a home owner. 

A little about myself

I am a single mother from Lawrence, MA. I work full time at a health Insurance company for the past 14 years. I remember about 8 years ago, I wanted to buy my own home. At the time I was making $14/hour. I used to think that the only way I would afford to be a home owner was if I were to make more money. At the time finding another job was not an option because my oldest son had a chronic illness, and I frequently had to take time off in order to care for him. Keeping a job was difficult because of the strict rules, but since I had been more than 1 year at my company I was protected by FMLA. With the idea that I had no other options but to remain in my current position, and unable to increase my salary at the time, I convinced myself that $14 an hour was more than enough to maintain my household, eliminate my debts and buy a home. I had no idea I was using income shifting strategies to accomplish this goal. I updated my W-4 and increased my net pay. I created spreadsheets to manage my debts and bills and within 1 year I was approved to buy a home!

More than once I have seen first-hand the value of understanding how to fill out your W-4 form. I remember my first job at age 18, where I worked with my best friend. We worked 3rd shift for $11 an hour, over 50 hours a week. At the time I had 1 child and she had 4. Sometimes we worked the same amount of hours and other times I worked less hours than she did. My paycheck was always higher than hers. She would complain it was unfair, and insisted my W-4 was filled out incorrectly. Had she known how to properly fill out her W-4 form, she would have been the one with the higher net pay, but instead she was bringing home hundreds less than I was. She often borrowed money in order to make ends meet, when a simple adjustment to her W-4 would have changed her situation drastically.

I also understand that some people much rather under claim on their W-4 in order to increase their tax refund. This never made sense to me. If you are struggling from paycheck to paycheck why would you put yourself in a position to have to wait so long for money you could have been receiving all year long? By the time tax time rolls around most are anxiously awaiting for their refund so they can apply more than half to their past due balances. Getting the most out of your paycheck on a regular basis makes a significant difference in being able to pay your bills on time and not worry about how you will make ends meet from now until the beginning of next year.

Income shifting is the first thing that My Econ will teach you to do. Owning your own business will also allow you to claim an additional allowance on your W-4 form, as well as lower the amount of tax owed at the end of the year. You are then taught how to use the extra income from YOUR JOB to eliminate your debt. Living paycheck to paycheck you tend to believe that it is better to apply the minimum to your debts in order to have more money for other things today. This is a poor man’s way of thinking. Being debt free increases your cash flow; meaning in time you will have more money available to spend however you want. With My Econ, you can also learn how to invest the extra income you have created which in turn will create MORE INCOME.

For me joining My Econ was a no brainier. Without ever recruiting a single person, it teaches you how to bring home more money, eliminate your debts, increase your credit score and invest. These are the skills that every poor man lacks. I can also admit that while I have had some success in life, I am not as successful and well versed in my finances. I have always thought that making more money is the answer to all my problems, yet here I am 7 years later making $11 more an hour and most of the time just as broke because of all the debt I have incurred on the journey up the employment ladder. I have refused to accept any more promotions at work because when I run the salary through a paycheck calculator I find that my Net Pay will not change. What will change is my tax liability. This is why I have chosen to start my own business with My Econ. With My Econ, I hope to be able to quit my full time 9-5 work at home job, and discover true freedom. I hope to help at least 100 people do the same.  I am excited to be on the team that I have joined, they have been so supportive and provided me with knowledge it takes to be a successful online marketer. We have a Facebook group that has grown to 5,000 people in the past month. We have weekly mastermind and there is always someone available to answer questions. If you interested in becoming financially successful and being a part of a great team that does not leave you high and dry, Click -> join MyEcon team. If you would like to learn more, feel free to connect with me on Facebook or message me here.