Where Is Your Happiness Level Around Money?
Key takeaways Some people continually raise the bar on themselves when it comes to the amount of income they need in order to be happy. A recent study found that most people are happy at annual income levels of $80,000 to $100,000. For people making incomes above that level, yet who still aren’t happy, there […]
Your Cash Flow Business
Key Takeaways When it comes to your finances, view them from the standpoint that they are a business you are operating. Businesses do three things every year: they make sure they have positive net cash flow, they have working capital, and they plan and budget. Budgeting and planning every year ensures you are meeting the […]
Refinancing Your Mortgage – Hidden Benefits
Key Takeaways The benefits to refinancing your mortgage are savings on interest over time, getting rid of Private Mortgage Insurance (PMI), receiving cash for the difference, and using the savings from the reduced monthly mortgage to pay off other debts or save money. Consider refinancing if it takes 1-2 years to break even on the […]
Taxes—The Good, the Bad and the Smart
Key Takeaways You can’t get away from taxes, but people who are well-informed pay less. The majority of Americans pay not one but three taxes on their salary—federal, state and payroll. There are a myriad of deductions, exemptions and strategies you can use to lessen your tax bite and accumulate wealth from Day One of […]
The 3 Ways to Save More
Key Takeaways Save first, spend second. You can’t start a good saving plan (or habit) until you’ve established a budget. Increase your income, reduce your expenses and control your emotions—wait 48 hours before pulling the trigger on a major purchase and don’t fall into the FOMO trap.
Structured Beauty
Key Takeaways If nothing else, young adults should understand their balance sheet, cash flow and taxes for a happy financial life. Remember to always save first, spend second. As you get older, your assets grow and so do your expenses. Never take your eye off the big picture (see the first two takeaways).