Money Expectations
Whether you like to eat steak, or pasta, or ice cream, you probably couldn’t consume 200+ pounds of any of those in one sitting. But you could finish all 200+ pounds of steak (or whatever it would be for you) over the course of a year by just taking tiny bites each day. A book […]
Why Is Money Taboo to Talk About?
Key takeaways The PC culture we live in has made it difficult to discuss almost anything without offending someone, somewhere. You might think some of the most sensitive, taboo-laden, topics are things like politics, drug use, racial issues, etc. but a recent survey found that talking about money far outranks the other topics when it […]
The Importance of Establishing Credit
Key takeaways A recent study reports that millennials are extremely reluctant to take on any debt. By maintaining a debt-shy attitude, millennials are not establishing credit nor maintaining high credit scores. Establishing credit is very important and will allow you to get the best available interest rates on home loans, car loans, credit cards, and […]
Don’t Invest Too Much in the Next Big Thing
Key takeaways A recent study, conducted by the financial company Edelman’s, showed that 25% of affluent millennials were investing in Bitcoin. The pull of trends like Bitcoin is reminiscent of other trends that popped up in the past—trends that failed to pan out, causing people to lose a lot of their hard earned money. Bitcoin, […]
Advisors for Success Minded People
Key takeaways A catch-22 is a situation that keeps you from attaining your goals due to a set of inherently illogical rules or conditions. Younger, success-minded people need professional advice as they accumulate wealth over time. The majority of the professional advice available for success-minded individuals—at the beginning of their wealth building years—is either far […]
Have You Locked Your Child’s Social Security Number?
Key Takeaways Identity thieves have a new favorite target and it’s your child’s personal information, including social security number. Criminals are going after the social security numbers of infants and young children because no one will realize what they’ve done for 18 years. Contact any one of the three main credit agencies (Experian, TransUnion, Equifax) […]
How to Fix the Leaky Money Faucet
Key takeaways Just like a leaky water faucet, a leaky money faucet can add up to thousands of lost dollars over time, if left unchecked. Use one of the many online services that track all of your expenditures. One day a week, such as every Friday, review each of your expenses to determine where the […]
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 […]
You Don’t Have to Spend Money to Have Fun
Key takeaways Money spent every weekend on eating out and other entertainment can add up to five or ten thousand dollars over the course of a year. Spending money every, or almost every, weekend can make it harder to save money for a future goal like making a downpayment on a house. Entertainment and having […]
The FIRE Movement: Will You Have Enough Money?
Key takeaways Almost every generation has its own counterculture movement that arises out of a desire to escape societal authority. Today, the trending countercultural fad is the FIRE movement, which has inspired many younger people to take an interest in retiring much earlier than their parents or grandparents did. While retiring at age 35 or […]