The 4 Money Characteristics
Key Takeaways We can let wealth define our character, or we can have our character define our wealth. The 4 key money characteristics are prudence, responsibility, humility, and gratefulness. You can match these characteristics up with the way you deal with your wealth, and how your wealth deals with the outside world.
Saving to Live
Key Takeaways Millennials are saving at the highest rate of any generation currently alive, but they aren’t saving for a typical retirement. Two thirds of Americans don’t have enough money in savings to be able to take care of an emergency. Millennials care about financial freedom and life experiences, and are saving money to do […]
Financial Fridays
Key Takeaways Do a quick, three minute look at your finances every Friday to ensure there are no irregularities and to keep your budget on track. One Friday every month, look at your assets and liabilities to ensure you are on track for any financial goals you might have. Once a year, do long-term planning […]
The First $10,000
Key Takeaways Putting $10,000 away a year for even just 10 years can make a huge difference. If you put the money away in a 401(k)-type account where there are tax deductible and tax deferrable benefits, you will end up with much more money years down the road than you would just saving it on […]
Money Sloths Win in the Long Run
Key Takeaways Our brains have a system one that thinks very fast, automatically, and is always on and this is where we spend most of our time. System two of the brain is very slow thinking and it’s how we are able to do integrative thinking that helps us make decisions. While both systems are […]
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 […]
Gigging Cash Flow
Key Takeaways The rise of the gig economy has helped people build multiple streams of income. People choose to take on gig jobs for many different reasons, but it’s a great option to help pay down debt, save more, or earn some extra spending money. There are pros and cons to a gig job, to […]
Leveraging Your Cash Flow
Key Takeaways Using Other People’s Money (OPM) comes in to play in things like a matching 401(k) where an employer is matching their money to yours to put away for your retirement. There are three leveraging tools in a 401(k): Other People’s Money, pre-tax savings, and tax deferment. If your employer offers a matching 401(k), […]
Balanced Cash Flow – Enjoyment Now or Later?
Key Takeaways Balancing your cash flow is about enjoyment now versus later. This is a subjective arena, but if you look at an objective case study, you can see that it is possible to either save now or later with the same end result. There are two caveats to either spending now or later; you […]
In Search of Wise Counsel
Key Takeaways We tend to ask our close family or friends for financial advice when we should really turn to a professional to help us. When looking for a financial advisor, there are a few things you should keep in mind, but LRC – Leadership, Relationship, and Creativity, is key. Big-name financial firms are not […]