The following is a guest post from Jon Haver who has paid off his $23k in student loans in 3 years and is sharing advice on how others can financially thrive with student loans. He writes at Pay My Student Loans. Month after month, you find yourself making payments to bring down your debt whether it is your mortgage or your student loans. You dream of a time when you can live debt free. The two biggest debts in this [...]
In today’s day in age, we live in a much more global economy than ever before. With the rapid growth of the internet, information is accessible even in the most remote parts of the world. I was in Costa Rica once, in the middle of the jungle and I came across a couple who had internet and I was able to check my email. I was blown away, mainly because that was about five years ago. What does this have [...]
Dating as far back as 700 B.C., thriving, ancient cultures that were far ahead of their time recognized both the aesthetic and monetary value of gold and the coveted metal became a standard of currency for many an empire. Today, investing in gold has been one of the most lucrative investments. Even a small amount of gold in your investment portfolio can potentially garner a nice return over time. For this reason, investing in gold can be worth considering for [...]
Until you can manage your emotions, don’t expect to manage money.” – Warren Buffett One of the main assumptions in basic economic theory is that we all make rational decisions. Unfortunately economic theory doesn’t always translate so well into the real world. Have you ever made an irrational decision and let your emotions get the best of you? Of course you have. We all have done this at some point in our lifetime. The reason you see so many wild [...]
The sub-prime mortgage crisis of 2008-2009 is still fresh in most people’s minds. The lasting memory of that recession is so strong, in fact, that many people still refuse to invest back into the stock market today. As they like to think, “don’t play with fire, or you’ll get burned!” And once you’ve been burned before, you know to never touch that HOT stove again! While it makes sense for a young person to first build up a solid foundation of [...]
This is a guest post from Jake Thompson at Moola Mind. Please join me in welcoming him to the site! Right about now you should be feeling some real pressure to plan the Black Friday attack. You wouldn’t want to miss out right? In fact, if you do, you could end up missing out on some serious sales… If this is how you are feeling, then let me tell you why you are the perfect target for advertisers, marketers, and salesman. How [...]
I listened to a series by Andy Stanley recently where he said, “Those who understand interest, earn it and those who don’t, pay it.” After reflecting on that, I realized that I agree with him. Which side are you on? Do your earn interest or pay interest? If your like most people you probably are doing both. To be honest, I am in the same boat. However, my wife and I have made a conscious decision to get out of [...]
If you are looking to set up a retirement account or an investment account and you want a quick explanation of your options, you came to the right place. There are so many acronyms and numerical distinctions out there that it can be confusing to understand what to do. Here is a simple breakdown to help you better understand your options: Roth IRA (Individual Retirement Arrangement) Tax free growth account which means that you will NOT be taxed on your [...]
You could break down my investment strategy in one simple sentence: slow and steady wins the race. Buying fancy software programs and investing in pie-in-the-sky companies is not part of my strategy. Please consider the following information as you look at investing your own money: Consider the costs (This is championed by John Bogle, Founder of Vanguard) Look for mutual funds/index funds that have a low expense ratio (Vanguard is known to have some of the lowest cost funds [...]
Now look, I am the first to admit that managing finances can be a boring task, however, that can all change. If you understand the basics of money management and how it will benefit you, that can be all the motivation you need to spend time doing it. There are 3 principles that you need to understand when it comes to your finances: 1. Spend less than you make It is built into our culture to buy, buy, buy. The [...]
