I have to say, I have always tried to post with integrity and fairness. In commenting about P-Diddy's purchase of the expensive car I equated it with the possibility of not instilling values that are solid. That may be the case but it also may be to the contrary. I wanted to balance my previous blog with fairness because it does seem that black celebs are being slammed nowadays and I don't want to join in. Sean has accomplished a lot in his young life and I look forward to greater things from him. At this point, I want him to take a greater pivot. I would like to see what he is doing for his artists in a way that ensures their financial viability no matter how short their careers. I know that he may be doing the right things for his kids to make sure they are taken care but he has to run a ethical company or after he leaves it will be consumed by wolves. I know that we have a lot of successful black talent out there today but I am a historian and we always have blips of great success but we need organization that don't decline with the second generation. From Motown, to Essence, to Ebony we have seen declining empires with second generation families. The main dominate force in black entertain today is Oprah Winfrey who has no rightful heir. I don't know if she has looked at the Milton Hershey model, who created a foundation with his orphanage as beneficiary, but it may be a good start. I do wish she would adopt several female kids and set up a network to build strong viable and powerful women. She has the money to be like the Kennedy's and put these women in powerful political and social positions with Winfrey at the end of their names.
Peace Out
FFOTBS
Saturday, October 2, 2010
Wednesday, February 3, 2010
A $300,000 Car for a 16 Year Old Kid? WTF
Dear Frugal fans,
Again I have heard the unbelievable. I try not to judge too harshly and I think Puff Daddy, P-ditty,
Sean P is a talented person and shrewd entrepreneur but he just purchased a $300,000 car for his son's sixteenth birthday. Come on. Like Chris Rock said, "He is rich but he ain't wealthy." "Rick James was rich...." Aside from the comment of where is a 16 year old going to drive his ride outside of Beverly Hills without being Jacked discussion, what about the principles of money management a teenager is missing. Is he setting his son up for sustainability for the future. It would have been much better to put that in a trust or annuity available at age 55. Could you imagine how much he would have? This would ensure that if he blew his money and Puffy's that his son would be ensured a poverty free retirement.
I will give P-ditty a challenge if he thinks his business model is so strong. Walk away from it for a year without contact. Make no business decisions and connections to new talent. If the business sustains it self then great you have done your job as a father. Why this experiment? Because this is exactly what will happen if he expired today.
Now look at Warren Buffet who we know is wealthy. He has set up his children so that they will not be able to blow their inheritance. He has picked a successor to his position. More than that he has lead a frugal life and set a great role model so well that his grandson is modeling himself after his strategy. He lives in a modest home but enjoys life and his job. From my research, he has never purchased a $300,000 vehicle for anyone or does he own said vehicle.
Now for the everyday folk like me, who had hard working frugal parents who had Warren Buffet tendencies just not the money,I tip my hat. These parents delayed wants and satisfied our needs. I remember a time when everyone on my block wore pleather not leather jackets and the arguments were about whose pleather looked real or fake. I remember knowing exactly what we were getting for Christmas because my mom had layed it away months ago, but I still acted exited on Christmas morning. I also remember that most teenagers first cars needed paint jobs or interior work, but you drove it as is. There was no conversation with your parents about getting a job during the year to fix it up because school came first. I was never embarrassed and neither were my friends because if and only if you were lucky to have a car everyone had old cars or a new Yugo, Horizon,Chevette which might as well been close to junk cars.
I do wish the musical artists would at least take a few history courses on Black music. They would soon find that Louis Armstrong was a better business man than they. He was getting 3 cents per record sold in his day. If I am wrong from my information, I think the artists still get 3 cents. They could learn from Mahalia Jackson who demanded her payment for concerts before she went onstage and had several million left when she passed.
Sorry, I have to go. Starting to babble.
Peace Out,
Frugal Frank OTBS
Again I have heard the unbelievable. I try not to judge too harshly and I think Puff Daddy, P-ditty,
Sean P is a talented person and shrewd entrepreneur but he just purchased a $300,000 car for his son's sixteenth birthday. Come on. Like Chris Rock said, "He is rich but he ain't wealthy." "Rick James was rich...." Aside from the comment of where is a 16 year old going to drive his ride outside of Beverly Hills without being Jacked discussion, what about the principles of money management a teenager is missing. Is he setting his son up for sustainability for the future. It would have been much better to put that in a trust or annuity available at age 55. Could you imagine how much he would have? This would ensure that if he blew his money and Puffy's that his son would be ensured a poverty free retirement.
I will give P-ditty a challenge if he thinks his business model is so strong. Walk away from it for a year without contact. Make no business decisions and connections to new talent. If the business sustains it self then great you have done your job as a father. Why this experiment? Because this is exactly what will happen if he expired today.
Now look at Warren Buffet who we know is wealthy. He has set up his children so that they will not be able to blow their inheritance. He has picked a successor to his position. More than that he has lead a frugal life and set a great role model so well that his grandson is modeling himself after his strategy. He lives in a modest home but enjoys life and his job. From my research, he has never purchased a $300,000 vehicle for anyone or does he own said vehicle.
Now for the everyday folk like me, who had hard working frugal parents who had Warren Buffet tendencies just not the money,I tip my hat. These parents delayed wants and satisfied our needs. I remember a time when everyone on my block wore pleather not leather jackets and the arguments were about whose pleather looked real or fake. I remember knowing exactly what we were getting for Christmas because my mom had layed it away months ago, but I still acted exited on Christmas morning. I also remember that most teenagers first cars needed paint jobs or interior work, but you drove it as is. There was no conversation with your parents about getting a job during the year to fix it up because school came first. I was never embarrassed and neither were my friends because if and only if you were lucky to have a car everyone had old cars or a new Yugo, Horizon,Chevette which might as well been close to junk cars.
I do wish the musical artists would at least take a few history courses on Black music. They would soon find that Louis Armstrong was a better business man than they. He was getting 3 cents per record sold in his day. If I am wrong from my information, I think the artists still get 3 cents. They could learn from Mahalia Jackson who demanded her payment for concerts before she went onstage and had several million left when she passed.
Sorry, I have to go. Starting to babble.
Peace Out,
Frugal Frank OTBS
Friday, January 8, 2010
Back in Black for 2010!
Back in Black for 2010!
Hello, Hello! Frugal Frank on the Blackside is back in 2010 in full force.
Well, from my last blog my predictions are on point. We are seeing a turnaround in the economy,employment is coming back slowly and health care reform is coming soon. These will be wins in President Obama's corner. Remember, we have got to back him on Healthcare. Write your senators and blog the news sites. Trust me, even though it will be a flawed bill, there should be enough loops holes to get what we want down the line. For those of you who took my advice, I hope you are feeling better about your financial situation. I have got to share a great story with you. I went to my second home for Christmas(yes! see what being cheap can get you) with the family and open things up for the Holiday and settled in to watch some movies on my 42" LCD Olevia Flatscreen. I watched it for 3 days and it went black, sound but no picture. I then found out that Olevia had gone bankrupt. Now being the cheap person that I am, I did not buy an extended warranty just took the 1 year with manufacturer but I did purchase it with my American Express card which extended the warranty for an additional year. Now repeat after me, "The Lord is Good., When? All of the time." I purchased this TV on Dec. 22, 2007, It died on me Dec.20, 2009. The people at American Express were great. After contacting them and supplying the correct info. I had my money to purchase a new set by New Years day. So I will get an extended warranty on the new set and keep my AmExp card. But again you know me, I quizzed the repair about my broken set because it gave a great picture. For those of you in the know. The LCD's only have 3 replaceable parts, back-light, power supply, main board. My board was shot and parts are expensive. He said that if I wanted to try and salvage, I may be able to find the board on Ebay. These parts are plug and play and I might be able to do it. I have the set in storage and I will let you know how it goes. I am purchasing a new set and at the present I am looking at Vizio and Samsung. I had to watch broadcast on tube with a DTV converter during the holidays but I was good. I will discuss broadcast in a later blog. Frugal Advice: Drop Blockbuster and Pay per View; get a library card and use Redbox. Most libraries get the latest movies a few weeks after the retail stores and you can reserve up to 10 copies online. This is a great way to save money and support your local library. And with the Redbox kiosk, you can get new releases for a $1.
Peace Out,
Frugal Frank OTBS
Well, from my last blog my predictions are on point. We are seeing a turnaround in the economy,employment is coming back slowly and health care reform is coming soon. These will be wins in President Obama's corner. Remember, we have got to back him on Healthcare. Write your senators and blog the news sites. Trust me, even though it will be a flawed bill, there should be enough loops holes to get what we want down the line. For those of you who took my advice, I hope you are feeling better about your financial situation. I have got to share a great story with you. I went to my second home for Christmas(yes! see what being cheap can get you) with the family and open things up for the Holiday and settled in to watch some movies on my 42" LCD Olevia Flatscreen. I watched it for 3 days and it went black, sound but no picture. I then found out that Olevia had gone bankrupt. Now being the cheap person that I am, I did not buy an extended warranty just took the 1 year with manufacturer but I did purchase it with my American Express card which extended the warranty for an additional year. Now repeat after me, "The Lord is Good., When? All of the time." I purchased this TV on Dec. 22, 2007, It died on me Dec.20, 2009. The people at American Express were great. After contacting them and supplying the correct info. I had my money to purchase a new set by New Years day. So I will get an extended warranty on the new set and keep my AmExp card. But again you know me, I quizzed the repair about my broken set because it gave a great picture. For those of you in the know. The LCD's only have 3 replaceable parts, back-light, power supply, main board. My board was shot and parts are expensive. He said that if I wanted to try and salvage, I may be able to find the board on Ebay. These parts are plug and play and I might be able to do it. I have the set in storage and I will let you know how it goes. I am purchasing a new set and at the present I am looking at Vizio and Samsung. I had to watch broadcast on tube with a DTV converter during the holidays but I was good. I will discuss broadcast in a later blog. Frugal Advice: Drop Blockbuster and Pay per View; get a library card and use Redbox. Most libraries get the latest movies a few weeks after the retail stores and you can reserve up to 10 copies online. This is a great way to save money and support your local library. And with the Redbox kiosk, you can get new releases for a $1.
Peace Out,
Frugal Frank OTBS
The Return of Broadcast! Save $1200 a year
The Return of Broadcast! Save $1200 a year
Frugal Frank OTBS checking in,
I was listening to some Moms Mably while at home during the Holidays(I hope someone out there remember Moms) and enjoying the simple things in life with my wife and kids. Ladies for the record, my wife is a strong sister who is also my best friend. She has to be to tolerate my cheap you know what. After listening to the comedy tape, I turned on the news and heard the hoopla going on between Time Warner and Fox. At that point I was thankful that I fired my cable company a year ago and you should do the same. With the change of Broadcast from Analog to Digital, you can now get better picture clarity than cable or satellite and its free. I purchased a DTV converter and an RCA amplified antenna and I pull in about 26 channels in my area. You will get at least two stations on each channel, Spanish channels,CBS,NBC,ABC,Fox, CW and at least 3-4 PBS channels. I also get two movie channels; THIS, ION If you want an on screen menu, go with Dish Network DTV or one from Radio Shack. You get show descriptions and a few days worth of programming. I don't know if you can still get the government coupons which were worth $40.00 but would try. If you have a New LCD or Plasma TV all that you need is the amplified antenna and you need a good one to get great reception.Regular rabbit ears will only get you a few stations. I put my antenna in the attic and then spliced all my cable lines into it, that way I have cable like access in all the rooms in the house. Straight airwave broadcast on an LCD Flatscreen is awesome especially the NFL games. Remember, if you don't have a flat screen you can buy one in 6 month with the $100/month savings. I would take a new flat screen without cable any day than a tube or old large screen with cable. This is not your grandma's broadcast analog. The digital broadcast is awesome. We just need to get more programming. I bet someone in New York, DC or Boston would bring in 60 channels. So, go ahead, spread the word and join Frugal Frank OTBS, fire your cable or satellite company.
Peace Out, Frugal Frank OTBS
Also, I love comments. I get excited when you talk frugal to me.LOL
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