Debt-Free Millionaire

How do you Get a Job??? PRACTICE - Try this Activity (W3:D4) Debt Free Millionaire Podcast

ACTIVITY: JOB SEARCH SIMULATION
Objective: Students will gain hands-on experience with the job search process, including finding job postings, creating a resume, preparing for interviews, and evaluating job offers.
Materials Needed:
Computers with internet access
Sample job descriptions
Resume templates
Mock interview questions
Evaluation criteria for job offers
Access to word processing software (e.g., Google Docs, Microsoft Word)
Duration: 2-3 hours (can be spread over multiple class periods)
Steps:
Part 1: Job Search
Introduction (15 minutes): (If for students, brief students on the importance...)
Why Job Searching Skills Matter:
Foundation for Career Success:First Steps: Job searching is the initial step in building a successful career. Understanding how to effectively search for jobs can open doors to numerous opportunities.
Right Fit: Finding a job that aligns with your skills, interests, and values is crucial for long-term job satisfaction and growth.
Competitive Advantage:Standing Out: In a competitive job market, knowing how to search for jobs efficiently can help you stand out among other candidates.
Networking: Effective job searching often involves networking, which can lead to discovering job opportunities that aren’t advertised publicly.
Skill Development:Research Skills: Job searching hones your ability to research and gather information about different companies and industries.
Self-Assessment: It encourages self-assessment, helping you understand your strengths, weaknesses, and areas for improvement.
Practical Experience:Real-World Preparation: Practicing job searching techniques gives you real-world experience that can be applied throughout your career.
Adaptability: It teaches you to adapt to different job markets and industries, making you more versatile in your career path.
Confidence Building:Self-Efficacy: Successfully navigating the job search process can boost your confidence and self-efficacy, making you more prepared for future job transitions.
Interview Preparation: Learning how to search for jobs includes preparing for interviews, which can help reduce anxiety and improve performance during actual job interviews.
Informed Decision-Making:Better Choices: Understanding the job market and available prospects enables you to make informed decisions about your future.
Career Planning: It helps in setting realistic career goals and creating a plan to achieve them.
Platforms and Methods to Search for Jobs:
Online Job Boards:
What They Are: Online job boards are websites where employers post job openings and job seekers can apply directly.
Popular Sites:
Indeed (indeed.com): One of the largest job search engines, aggregating listings from various sources.
LinkedIn (www.linkedin.com): A professional networking site that also features job listings and allows users to connect with industry professionals.
Monster (www.monster.com): A global employment website offering job listings, resume services, and career advice.
Glassdoor (www.glassdoor.com): Offers job listings along with company reviews and salary information.
Company Websites:
What They Are: Many companies list job openings directly on their own websites.
How to Use:Career Pages: Visit the “Careers” or “Jobs” section on company websites to find open positions.
Application Portals: Apply through the company's online application system.
Example Sites:Google Careers (careers.google.com)
Amazon Jobs (www.amazon.jobs)
Apple Careers (www.apple.com/jobs)
Networking:
What It Is: Networking involves building relationships with professionals in your field to discover job opportunities.
Methods:In-Person Networking: Attend industry conferences, job fairs, and meetups.
Online Networking: Use platforms like LinkedIn to connect with professionals, join groups, and participate in discussions.
Tips:Informational Interviews: Reach out to professionals for advice and insights about their careers and companies.
Referrals: Ask connections for referrals to open positions.
Recruitment Agencies:
What They Are: Agencies that help match job seekers with employers.
How to Use:Register with Agencies: Submit your resume to recruitment agencies specializing in your field.
Job Matching: Agencies will contact you with suitable job opportunities.
Example Agencies:Robert Half (www.roberthalf.com)
Adecco (www.adeccousa.com)
Manpower (www.manpower.com)
Social Media:
What It Is: Platforms where job seekers can find job postings and connect with potential employers.
How to Use:LinkedIn: Follow companies, join professional groups, and stay active on your profile.
Twitter: Follow companies and job boards, use hashtags like #JobSearch, #Hiring, and #Jobs.
Facebook: Join job search groups and follow company pages.
Example Sites:LinkedIn (www.linkedin.com)
Twitter (www.twitter.com)
Facebook (www.facebook.com)
University and College Career Centers:
What They Are: Resources offered by educational institutions to help students and alumni find jobs.
Services:Job Listings: Access to exclusive job postings for students and graduates.
Career Counseling: One-on-one guidance and resume assistance.
Career Fairs: Events hosted by the institution to connect students with potential employers.
Example Institutions:Harvard Career Services (ocs.fas.harvard.edu)
Stanford Career Education (beam.stanford.edu)
University of Michigan Career Center (careercenter.umich.edu)
Job Search Activity (30 minutes):
Using a computer, search for entry-level job postings in a field of their interest.
Select 2-3 job postings that they find appealing.
Take note of the job requirements, qualifications, and responsibilities.
Part 2: Resume Writing
Resume Workshop (30 minutes):
See the Chapter on Making a Resume
Resume Creation (30 minutes):
Create a resume tailored to one of the job postings you selected.
Highlight their skills, education, and any relevant experience (including volunteer work, internships, or part-time jobs).
Part 3: Interview Preparation
Interview Basics (15 minutes):
Interviews are where you meet with a company representative and, through an interview, they will have a good understanding of if you are a good fit to work there.
Interviews are not for you, but for the company you are trying to join. Allow it to work naturally because if you are not a good fit, this is the best time to find out.
Common Interview Questions:
Tell Me About Yourself:
Purpose: To understand your background, experiences, and how they relate to the job.
How to Answer: Provide a brief summary of your education, work experience, and relevant skills, focusing on how they align with the job you're applying for.
Why Do You Want to Work Here?Purpose: To gauge your interest in the company and the role.
How to Answer: Research the company beforehand and highlight what excites you about the company’s mission, culture, and the specific role.
What Are Your Strengths and Weaknesses?Purpose: To assess your self-awareness and honesty.
How to Answer: Choose strengths that are relevant to the job and provide examples. For weaknesses, mention an area you’re working to improve and how you're addressing it.
Describe a Challenging Situation and How You Handled It:Purpose: To evaluate your problem-solving skills and resilience.
How to Answer: Use the STAR method (Situation, Task, Action, Result) to structure your response, focusing on what you did and what you learned.
Where Do You See Yourself in Five Years?Purpose: To understand your career goals and see if they align with the company’s direction.
How to Answer: Discuss your professional aspirations and how the role can help you achieve them, showing your commitment to growth.
Why Should We Hire You?Purpose: To determine what sets you apart from other candidates.
How to Answer: Highlight your unique skills, experiences, and achievements that make you a perfect fit for the job.
Do You Have Any Questions for Us?Purpose: To see if you’re genuinely interested in the role and the company.
How to Answer: Prepare thoughtful questions about the company’s culture, team dynamics, or growth opportunities.
Importance of Preparing for an Interview:
Demonstrates Professionalism:
First Impressions: Being well-prepared shows that you take the opportunity seriously and respect the interviewer’s time.
Confidence: Preparation helps you answer questions confidently and professionally.
Reduces Anxiety:Familiarity: Knowing common questions and having practiced answers can reduce interview anxiety.
Control: Preparation gives you a sense of control over the interview process.
Showcases Your Skills and Experience:
Highlight Strengths: Preparation allows you to frame your experiences in a way that highlights your strengths and relevance to the job.
Relevant Examples: Being ready with specific examples ensures you can effectively demonstrate your qualifications.
Enables Better Responses:
Thoughtful Answers: Preparing helps you provide well-thought-out answers rather than stumbling through responses.
STAR Method: Practicing the STAR method for behavioral questions ensures your answers are structured and clear.
Improves Interaction Quality:
Engagement: Being prepared allows you to engage more effectively with the interviewer, fostering a better connection.
Informed Questions: Researching the company beforehand helps you ask insightful questions, showing your genuine interest.
Increases Chances of Success:
Competitive Edge: Prepared candidates often stand out in the hiring process.
Positive Impression: Leaving a positive impression increases the likelihood of being selected for the role.
Tips for Interview Preparation:
Research the Company: Understand the company’s mission, values, products, and recent news.
Review the Job Description: Know the key responsibilities and required skills.
Practice Common Questions: Use a friend or family member to conduct mock interviews.
Prepare Your Own Questions: Have a list of thoughtful questions to ask the interviewer.
Plan Your Attire: Choose professional attire appropriate for the company’s culture.
Arrive Early: Plan your route and aim to arrive at least 10-15 minutes early.
Mock Interviews (30 minutes):
Pair up with another student and have them take turns being the interviewer and the interviewee. Try also using a teacher or a parent.
Ask your interviewer(s) for constructive feedback.

How Do I Make More Money, At My Current Job or on the Side - (W3:D3) Debt Free Millionaire Podcast

HOW DO I INCREASE MY PAY?
Do you want to be paid more, faster? You have two ways of doing so: 1) ask for a raise, 2) get a second job, 3) start a business 4) invest and take the risk, or 5) stop spending money (not increasing your pay but keeping more money. But wait, you probably were just asking about #1. How do I get a raise from work? This is simple as well. Ask for a raise.
When you are asking for an increase in pay, you need to be educated with information that is available:
What is the median pay for someone in your position? Median wage is what half of people holding that position are paid this amount or you could say the wage in the middle. Look up the median pays for your position here at debt-free-millionaire.com/medianpay.
Know how much the median pay is for someone with your education. You can’t compare yourself to anyone when they spent time and money to get additional education that you don’t have. The median weekly pay for a full-time employee, 25 years and older is $909. $515 without a high school diploma, $718 for high school graduates and no college, $836 with an associate’s degree, $1,189 for those with a bachelor’s degree, $1,404 with a master’s degree, and $1,743 with a doctoral degree. It’s worth to get that degree. The median pay if you went to a vocational school is $9,80 - $1,568. Find out more at debt-free-millionaire.com/degreespay
What your history is and highlights you can share since you came to work? You want to show how valuable you are, what you have done to increase productivity and/or revenues. Are you worth the money you want to ask for?
You should never snoop but if you overhear your employee mentioning how much they are paid, you should know that as well, but don’t use it as a weapon instead use it for knowledge.
Put out your feelers of other positions that are open and hiring. If there is another company that is paying more then set up an interview and see how much they are willing to pay you. You want to show how valuable you are, find out how much your companies own competitor is paying. Again, this is not a weapon but use this as knowledge to present to your manager. If you get a job offer, bring it but don’t use that as a weapon, us it as a bargaining tool, any businessman should appreciate the effort of opposition research.
When you go in to see your manager, make sure they are having a good day. You may want to work your way into it. Here are a few things you may want to do to butter them up or prepare them for your ask:
This is the most important, work hard before going to see them. Let them see how valuable you are at work a few days before you ask.
Set up a meeting with your manager. Do not jump in at what seems like the right moment. Let them expect you are coming. This gives them time to anticipate why you want to meet and to start looking at you. Remember, days before you have that meeting you should be more productive than you have ever been. You want them to see this.
When you meet, be early sitting outside their office only 5-10 minutes beforehand, but don’t come emptyhanded. Come with your current work and continue your work while you wait and bring the information that proves you should be paid more.
Go into the meeting very upbeat. Present the information you have found as if stating that you love the position and company and that you are very loyal but these are the facts of why you deserve better pay and then here is the clencher.
Ask your manager, that in the next 2-4 months how can you prove that you deserve a raise? You are not asking for it right away but you want to know how to get it and then how much that would be paid. This is a lot more digestible for your manager to accept. If you are in a union, you can’t do this because your pay is set at your position and not how hard you work, so ask for step 6, ask for a promotion. Whether you just want a raise or a promotion, you should be ready to take one of them. A promotion comes with more responsibilities, but also a higher position.
The best way to get a raise is to ask for more responsibilities in a promotion. Do not accept more responsibilities without a higher pay. If you do, you are basically accepting lower pay or same pay for more work. You deserve a pay increase with a responsibility increase. Again, if you work under a union, you can’t get a raise unless you take a higher position and if there is no higher position, you will not receive a higher pay.
Again, the company does not owe you higher pay unless you are valuable or if you are offering to work harder or take on more responsibilities.
Make sure you follow it up with an email, thanking them for the meeting and then double checking that you remember that if you do X then you will be paid Y.
One of the greatest examples of not being paid what you are worth if you are a hard worker is government work. Most governments are unionized, and you are paid what they have negotiated for the median worker (middle effort worker). You are paid from what the person in the middle does. Many government workers have a stereotype of just doing what they are asked, or the minimal amount of work, which is why it takes the government so much time. Those that work harder than the rest cannot be compensated for their effort because you are paid off the collective. Your pay does not increase by how hard you work but instead buy the position you take. Most of the time, if you want a pay raise, you must go through interviews so meeting with your manager for a pay raise is unnecessary. Instead, you should be looking for a new position that may open up in your government field.
If you work for a small business, most owners of these company are just scraping by and a pay raise may be harder for them, unless you start making the company more money. If their revenues increase from your effort, they have two answers to this request, pay you more or lose you entirely. You just made yourself invaluable to the company and they do not want to take the gamble that the next hire will be as good as you. They will pay you well in order to keep you. At the same time, if you don’t show how valuable you are, they have ever right to fire you and find someone else.
Images came from: https://www.pexel.com Music I Use: www.Bensound.com/free-music-for-videos License code: AN4MXGI6OALEGJ66

Are you Worth the Money you are Being Paid - Have the Skills to Advance? (W3:D2) - Debt Free Million

Minimum wage was never created to live off. This too is another diving board to propel you forward. You start at this earning level as a youth and then work your way up to making a very decent living. If you work fast food for minimum wage, see how fast you can work to become a manager. Talk to your manager and see how you can progress. If there is no path in your current company, do not quit your day job right away, but find another job that pays more and allows for upward momentum. When you find that job, jump at it. You have no loyalty to a company unless they have means for you to succeed and feel part of the company.
Now the issue with workers today is that they believe they need to take what is given to them. This is a fallacy set up to keep them in the jobs they have and not to strive and seek more. If you believe you are worth it, then find the path forward and then make your move. Now these moves may take years and that is okay. You just need to make sure there is a path forward for you, that you understand how to get there, and your manager is open to helping you achieve that level.
What qualities do you have to propel you forward? Before you can ask for a management position, you need to look at yourself, your skills, knowledge, and experience. This all calculates into if you are ready to progress further in a company. No one will hire you if they think you will do a poor job and there is no possibility you will make the company more profitable, so make yourself just that, potential to increase profits. If you can show this, your employers will throw money to entire you to take a higher position.
Do you want to move to another career? This may set you back in this sense. Remember that you need experience to gain a higher position. If you jump to a different career, you may not have the experience that can translate to the next position. Write down in the left column the skills you have towards advancement and in the right column write what you need to advance. Ask your employer or a professional in that field.
Now let’s discuss how you are to obtain those qualities you need. There are many avenues to find experience, skills, and knowledge. They include service work, part-time work, schooling, trade schools, and even picking up a book. All these things will give you wisdom toward advancing in a career.
Remember that you are not entitled to anything, entitlement is slavery for you by the person providing for you. You need to go out and grab these qualities for yourself. In the space below, make yourself a goal of when you will obtain these goals and some sort of penalty you will do if you don’t reach them. For example: penalty for not reaching your goal could be paying $100 to a local charity, giving away something you cherish, or doing something that makes you uncomfortable. It doesn’t stop there, now you must find an accountability partner. This can be a family member, teacher, principal, church leader, but it may not be a friend. You do not want to tell you that it’s okay and you can have the item back. You need to give them the item to hold onto until the goal is met. That way you are motivated to get this done. Images came from: https://www.pexel.com Music I Use: Bensound.com/free-music-for-videos License code: AN4MXGI6OALEGJ66 Also read these articles: https://www.hiringlab.org/2024/02/27/educational-requirements-job-postings/ https://www.bls.gov/emp/chart-unemployment-earnings-education.htm https://www.visualcapitalist.com/major-worst-finding-a-job/ https://www.advisorperspectives.com/dshort/updates/2024/05/06/a-closer-look-at-full-time-and-part-time-employment
 

Don't Allow Your Expenses and Credit Cards Become Your Task Masters (W2:D4) Debt Free Millionaire

The best way to become intentional with your money is to budget. This is basically a roadmap of how you want to spend your money, a spreadsheet of all your expenses and how you want to You have a certain amount of money that comes into your hands or account every month. You have a certain number of necessities due every month. Where do you spend this money? Every dollar you have should have a chore or purpose. You do this so you can keep track of every dollar but also so that you don’t spend money in one area when you it would take from another area.
Example: If you have three different glasses and you want to fill them all to specific amount, if you pour too much into one glass, there is less water to go into the other glasses, so they will not hit their intended levels.
It you have a budget, you are less likely to overspend and less likely to steel from other opportunities you would have had if you would have keep on your budget. Do you want to go on a trip? What happens if you spend too much money somewhere it wasn’t needed. 
 
Images came from: https://www.pexel.com Music I Use: Bensound.com/free-music-for-videos License code: AN4MXGI6OALEGJ66 Also read these articles: https://www.reuters.com/world/us/us-household-debt-largely-unchanged-q2-credit-card-balances-jump-ny-fed-says-2023-08-08/ https://awealthofcommonsense.com/2023/08/why-im-not-worried-about-1-trillion-in-credit-card-debt/

Did you Know Generosity Can Help Lower Anxiety, Depression, & Stress (W11:D3) Debt Free Millionaire

Simplified Explanation: Every year, you are granted the ability to transfer money to a single person, without it being taxed. The federal government, in 2021, allows its citizens to transfer $15,000 to anyone, without the possibility of being taxed for it - on either side.
Real Life: Generosity produces many great benefits to our life, and when you have the ability to be generous, we hope that you will see the benefit in it. Therefore, we have designed the board to allow you generous donations towards paying off your debt. Then, later in the game, you are asked to be generous, too. 
Now generosity is not only financial, but includes giving your time, helping, or showing concern for others, and doing things for others that you wouldn’t normally do. Generous people report being happier, healthier, and more satisfied with life. When we are generous, we forget about our own needs and wants, and take the time to put others first.
In this life, generosity is a wonderful attribute that you can have, up to the point of where you are enabling someone to do negative things. When you can help someone with a financial burden, there are always two things to think about: 1) will this person accept this gift and be better off because I gave it to them; or 2) will this be wasted, or will it hurt them in different ways. When you give to a person on the street that you don’t know, give generously, but a small amount to help them. If you are dealing with someone you know, though, you may want to think of ways to be generous without being destructive to them. If you worry about them handling money, you can also pay a bill or debt, buy them groceries, or even buy them a financial course. You can also put strings attached such as: I want to help you with this money, but in order to receive it, I want you to read this book or take this class. That way, you are still giving to them generously, but you are making sure they have the understanding to use it wisely. 
Consider making regular donations to organizations and people that can use the funding. Some people tithe, where they donate 10% of their earnings to their local church. There are local organizations in every city and state that need funding, to help others and have the ability to use that money more effectively. Consider how much the President of the organization takes for themself, and how much is paid in other perks, before donating. If they take large amounts of this money for administrative costs and salaries, consider donating to a more worthy, or less wasteful, organization, where your money goes where it was intended.
Here are some other ways you, too, can become more generous to people - some that cost money and some that are free for you to give:
Consider the benefits of generosity. It feels good to help others but it can also find internal benefits that would help in your daily life. When you serve others, you begin to see their struggles in life. When you see their struggles you can reduce the stress, depression, and anxiety in yours. Depression is an internal struggle about your own issues but focusing on others takes you out of your head and allows you to see that you are not alone.
Hand out smiles freely to those around you. This simple act will train you to think of others.
Embrace gratitude, for all that you have been given by others;
Start small, giving of your time and concern, or even small donations to others;
When you are paid, make sure you give first, from the money you receive; start small;
Divert money you spend on something that is unnecessary, to something that is necessary;
Fund a cause that is based on your passions;
Find a person you believe in that could use your help;
Spend time with people that are in need;
Spend time with a generous person and allow their generosity to rub off on you; and
Live a more minimalist life, where you see how little others have, and how you don’t need all the things you think you do.

How comfortable is it working in your PJs while working remotely? (W11:D2) Debt Free Millionaire

Simplified Explanation: Working remote means to work from home, or some other location, instead of at your office. Remote workers have always had a place to go, such as the library, Starbucks, and remote offices, but during the COVID pandemic, they all had to return home and work from there. Remote workers are also known for working as they travel the world. Imagine trying to find internet connections in third world countries so you can do your work, but people do it all the time. There is less need for an actual office anymore. 
Real Life: Since the COVID pandemic, businesses have learned that they do not need to lease large buildings to house their work. Most companies had to move their employees home, for a time. Grocery stores, hospitals, and other essential businesses kept their employees working, to service those in need (most of the time), but those who were not essential, and didn’t require contact with their customers, were pushed to work from home. So, there are really three types of remote workers:
Pandemic or Emergency Relocation: During COVID, we worked from home. According to scientists, these types of outbreaks will happen again, and more frequently in the future. In order to stop the spread, the U.S. Government locked down the country, economy, and made everyone who could keep their job work from home. The promise was that if we stayed locked down for 4 months, while we let the hospitals slowly increase their emergency beds, we would then be released “back to normal.” People went home to work. Two years later, some states are just still mandating masks. Businesses are now realizing that, if they could work remotely for a year, why not continue it (since they had to make new procedures that worked remotely, and now their company is as effective as ever, and saving money)?
World Travelers: People have desired to travel the world for long periods of time; yet, they had to afford their ventures. For years now, workers have been able to travel to some very remote areas, and continue their work from their laptops, in their hotel rooms, or the local café. These were the remote workers before Pandemic Remote Working became a thing. They did need a few things to make this work. They had to make sure that their companies were okay with this, that they had all the equipment needed to accomplish this work, and be well versed in the laws of the countries they were traveling through. Some have strict laws, that if you are working from their country, you need to pay them taxes. Most traveling workers don’t listen to these rules, though, and most don’t even know about them. They reserve less expensive housing, plan out access to food and other essentials, and find internet connections wherever they travel, so they can always stay connected with their home office. This takes some work, but could be fun. I have never tried this, but you can learn more by searching “Remote World Traveling” on our website Topical Search. 
Work convenience: My current business, as I work on this book, teaches history. As I grew my team, during the Pandemic, we decided we didn’t need an office. Instead, we all worked remotely, during the pandemic, and afterwards. We have a goal to become the first Fortune 500 to work completely remotely. It is convenient for all of my employees/contractors, and for myself. For one thing, my employees all work on their own schedule; they work from the convenience of their own home, without having to commute, or even dress in business attire. They even get to eat leftovers in their fridge each day, so less food goes to waste (if they so choose). This is the life of a 9 - 5PM worker.
Now that the world has seen that we can work from home, “the genie is out of the bottle.” In other words, people have experienced increased flexibility, and less stress. 
New types of remote workers are developing, including stay-at-home parents, who are now becoming remote workers while watching their kids; medical needs patients are now able to be remote workers; and even disabled or those with special needs are having an easier time being hired from their homes or co-ops. The future of work has now changed forever, but there are some negatives.
How to overcome the negatives: There are plenty of negatives out there, but for both the employees and employers, this normally has more positives than negatives. The struggle is to overcome the negatives, with preventative measures. Here are some of the negatives, and how to overcome them:
Worker’s health may decrease – Because you don’t need to go into an office, some workers become lazier than before, and less motivated to get out and exercise. Decreased health decreases productivity, and now that they can work from home while they are sick, they are less likely to work to their full potential. When employees get less motivated to workout, they are less effective in the office. It has been proven, that those who are more motivated to workout and eat healthy are more efficient in the office. Statistics show that employees who eat healthy are 25% more likely to have higher job performance. The same survey also found that employees who exercise for at least 30 minutes, three times a week, are 15 percent more likely to have higher job performance.
So how do you combat this? Employers who create healthy living usually have more effective and efficient employees. There are programs that health insurance companies have created or 3rd parties they have teamed up with to incentivize the employees to exercise on their own to keep them healthy. Employers and insurance companies have found that they save more money the healthier their employees are.Music I Use: Bensound.com/free-music-for-videos License code: AN4MXGI6OALEGJ66

How has Food Spending Nearly Doubled, What's Gadget Depreciation? (W11:D1) Debt Free Millionaire Pod

Simplified Explanation: Frugal shopping is where you go out and buy only things that are essential; frivolous shopping is where you go out and buy things that you really want, that are not important; and intentional shopping is where you make a list of items you want to buy and only buy those specific items.
Real Life: When trying to get out of debt, it is always a good idea not to put yourself back into debt. When you are in major debt, it is much easier to spend frivolously than when you are out of debt. The psychological reasoning is that you worked so hard to get out of debt, that there is a hesitancy to add any additional debt that may make you struggle to get out of it again. You worked hard and want to be more intentional in your spending. 
Now, you cannot go through life not buying these items. You will pay for them in one way or another. Not to repeat this example, but take a new car, for instance. No one needs a new car. Even if you are trying to impress clients, every time a car drives off the showroom floor, it loses $5,000 to its value, because the value we give to a car that no one else has driven makes that car psychologically worth more. But you can buy a slightly used car, and drive that without much difference. 
A boat, on the other hand, is never an essential item. You may want it, but almost nowhere will it ever be an essential item. There is an old saying: “boat” stands for Bring Out Another Thousand (BOAT), meaning that boats are notoriously expensive, even after you purchase one. You may spend tens of thousands every year to maintain and store your boat. I would shy away from this purchase - unless you were debt free, with plenty of income each year, and a strong retirement portfolio.
Computers are essential these days. When I was 14 years old, in 1996, I asked my dad to go to a computer fair in San Francisco, so I could purchase my first computer. My family had an obsolete computer and I had been working and saving my money. When we got there, my dad asked if the family could use it. I told him no, and that I was buying it for myself. He said, what if he paid for half? I said no, because a family computer would be bought by the parents. He said, “what if we pay half and you can have it in your own room?” I said yes. It was top of the line, in 1996, cost $2,000, and did a small fraction of what a phone can do today. My parents had that computer until about 2006, and I upgraded it multiple times for them. Today, computers cost very little, compared to what they used to cost. Even now, though, they are being replaced by tablets and smartphones, so the need for certain devices are not as essential as we may think they are.
There are other devices you may think you need, such as a gaming console or appliance. You may want to buy them, but are they essential (beyond your entertainment)? Appliances are essential, if you are moving into a rental unit without laundry. You can live the inconvenience of the local laundromat, and the added expense, or you could buy the washer and dryer and have it in your home. What about other needed appliances, such as a dishwasher, oven, or fridge? Each of these are expensive and may be needed for your kitchen. Most of the time, you will want to buy these new, because of the wear and tear of the strain we put them under. You never know what issues you are buying, until you run it in your own house. Consider new but dented or scratched appliances. You can buy these for a fraction of perfectly new appliances.
Not a gadget, per se, but furniture is a side purchase you will need to make, at some point. These you can buy slightly used, on the web, or at a store. Making sure these are good quality will allow them to last longer, so you won’t need to purchase a new piece of furniture to replace it soon afterwards. Much like clothes and most non-essential purchases, you can purchase good quality and use them for a long time, or buy inexpensive, and replace them on a constant basis. You get to choose what suits you best. Please know, big brand names do not indicate high quality. You can buy a pair of jeans at Wal-Mart for $14.99, and replace them every two years; or you could buy a pair of Levis for $29.99, and replace them every five years; or you could buy a pair of stylish jeans for $99.99, and either have to replace them a year later, or, if they go out of style, need to replace them each year, when the style changes. Clothing and furniture are the same - you can find quality without spending a lot of money (finding quality may just take some effort). Look up online reviews on your items before buying them. This includes brands that you have and haven’t seen, depending on how much money they put into it.
Now comes the notorious device that people feel they have to spend $1,000+, because of how they look. Phones may be essential, like a car, but like a car, you don’t have to spend your life savings on them. Most likely, your friends and colleagues won’t even know you spent a ton of money on it. Now you could go to your cellular provider and spend an extra $50 on your phone contract to lease the new phone, but in the end, you will spend more than the originally priced $1,000 on that phone. Instead, you could pay cash for it, so they can’t take it back when you upgrade or change your carrier, or you could go to a discount website that markets slightly used phones, provided by other users. There is a website, called Swappa.com, where you can buy slightly used or new phones for nearly half the price. A cell phone currently selling for $1,200 can be for sale at one of these used sites for $800 (and you would own it outright), spending less money over the life of the phone. Or, you can always wait on the newest phone to be replaced, and buy an older phone at only a fraction of the price. After a cell phone cover, you wouldn’t even know which phone it was. With each new phone that comes out, there are only slight improvements, that would be considered non-essential, and you wouldn’t miss them if you didn’t have them. So, in other words, you may as well buy a slightly used phone for $300, and save nearly $1,000, rather than purchase a new phone.
For less expensive used gadgets: https://swappa.com/ Also read: https://www.picodi.com/us/bargain-hunting/spendings-on-food-2023 https://www.ers.usda.gov/data-products/ag-and-food-statistics-charting-the-essentials/food-prices-and-spending/ https://explodingtopics.com/blog/iphone-android-users https://www.cbsnews.com/news/how-to-save-money-in-2024/

BONUS: Identity Theft and a Sneak Peak into Debt Free Millionaire - (W10:D4) Debt Free Millionaire

Simplified Explanation: Identity theft is where someone takes on your identity, by stealing your personal information and social security number, and starts making financial or security related actions, as if they were you. They take on your identity. 
Real Life: Think of this, you are opening your mail and it’s a stack of bills. The first one you open is for $40,000 in credit card bills, the next one is $30,000 for a new car, and the third one is $10,000 for a personal loan. The next day you receive more. You begin to call the lenders to explain there must be a mistake, but they tell you everything is legitimate. Then, a knock comes to your door and you are arrested for check fraud. Someone has taken your identity and racked up so much debt against your name. You have no way of controlling it, and what has been done to your name. Even when you try to call the lenders and explain, they don’t believe you. Then, a big one happens, and people show up to take your house, because it was sold out from under you. Now, if something like that happened, how would you feel?
According to a 2019 Identity Fraud Study, by Javelin Strategy & Research, the number of victims of identity fraud fell to 14.4 million in 2018, down from a high of 16.7 million in 2017. But, the financial burden for those in 2018 increased. 3.3 million people were made responsible for paying back part of the debt of the fraud committed against them - three times as many as in 2016, and the victims’ out-of-pocket fraud costs doubled from 2016 to 2018, to $1.7 billion. Criminals are also finding ways to overcome the authentication processes.