.5 Major Money Mistakes To Avoid Once You Turn 60

Laura Woods Wed, June 30, 2021

You’ve been working hard your entire adult life and you’re finally nearing retirement. The prospect of having more time to relax and enjoy yourself is exciting, but you’ll need money to do that.

As you wrap up your peak earning years and prepare to step away from the workforce, it’s important to make smart money moves that will protect your nest egg. All it takes is one poor financial choice to throw a wrench in your plans — and financial stability — so take the time to make informed decision

.What Not To Do While Trying To Get Out of Debt

Know how to pay off debt so you don't make costly mistakes.

By Jaime Catmull April 30, 2021

If worrying about how to pay off debt keeps you awake some nights, late-night television abounds with alleged solutions. Some ads even promise to get rid of your debt for “pennies on the dollar.”

Fall victim to these “deals” and you might be left with worse financial troubles than before. But these aren’t the only foolish ways of paying off debt. Financial experts shared some common mistakes people make while trying to get out of debt — avoid making these same missteps.

1. Not Having a Reasonable Debt Repayment Strategy

.9 Easy Ways to Be Fiscally Responsible

Jacqueline Sanchez Wed, June 30, 2021

For some, it's surprising the amount of consumer and student loan debt a person has. This financial situation is a future you likely won't want for your children. So, "How do I prepare my children for the future and be fiscally responsible?" This simple question of "How?" can unlock the way you think about money. It often isn't enough to graduate college and work a stable career.

What Does It Mean to Be Fiscally Responsible? Fiscal responsibility describes a person who has self-control and accountability for their spending. Government institutions' fiscal responsibility is about how wisely those who hold an office spend tax-payer dollars and manage money in the federal reserve bank. Defining fiscally responsible for personal finances is about how wisely an individual spends their earned income.

Why Is It Important to Be Fiscally Responsible?

.6 Reasons Why It’s So Hard To Get Out of Debt

Cynthia Measom Wed, June 30,

Getting out of debt isn't easy. It requires a lifestyle shift. Sometimes, you have to make a small change in the way you handle your finances -- and sometimes a big one.

If your New Year's resolution for 2021 was focused on getting out of debt, you may not have made much headway. This past year has been financially devastating for many families; and despite some assistance from the federal government, the Democrat-Republican congressional divide has slowed up stimulus for individuals and businesses alike.

To get some additional insight on why you haven't gotten out of debt by now, take a look at these reasons why it's so difficult. Plus, learn what you can do to start conquering your debt once and for all.

.17 Surprising Ways Penny-Pinching Costs You More

By Gabrielle Olya

Frugal living could cost you in the long run.

It's hard to resist seemingly good deals when we see them, whether it's a bargain home in a pricey neighborhood, a tempting cable company promotion or a $10 T-shirt. But sometimes deals that seem too good to be true actually are. Although the initial investment might be low, it could end up costing you in the long term, whether through maintenance costs or missed opportunities to put your money toward a more worthwhile purchase.

GOBankingRates spoke to financial experts to find out which seemingly "good deals" you should always avoid. After all, if you're hunting down deals and steals, you want to make sure that they're ones that will pay off.

.There Are No Rules, There Are Only Ethical Guidelines

June 27, 2021 · by The Escape Artist

You can escape to financial freedom… Getting to financial independence is hard. That’s partly because the system encourages conformity and obedience and discourages independent thinking. So escaping from The Prison Camp is not just about money (although money is a big part of it). It’s also about learning to choose our own Path.

Like all institutions, The Prison Camp has many rules. If you are going to break out, you will by definition be breaking The Rules… just by no-showing at the 9am roll call. So The Rules of the Prison Camp are a bit like eggs…. when you make The Omelette of Financial Independence, some of The Rules are gonna get broken.

This does not mean that we will be sacrificing ethics and integrity. If anything, Financial Independence allows us to be more ethical.

.Idiots, Maniacs & the Complexities of Risk

Posted June 24, 2021 by Ben Carlson

Risk is a complicated topic. It’s hard to define. It’s impossible to eliminate. And our perception of risk can often have unintended consequences. When things feel safer, we can let our guards down, which actually increases risk in many activities.

Last year roads were far less congested because people weren’t traveling as much due to the pandemic. Yet U.S. traffic deaths were at a 13 year high, up 7% from the year before.

How could this be?

.17 Surprising Ways Penny-Pinching Costs You More

By Gabrielle Olya

Frugal living could cost you in the long run.

It's hard to resist seemingly good deals when we see them, whether it's a bargain home in a pricey neighborhood, a tempting cable company promotion or a $10 T-shirt. But sometimes deals that seem too good to be true actually are. Although the initial investment might be low, it could end up costing you in the long term, whether through maintenance costs or missed opportunities to put your money toward a more worthwhile purchase.

GOBankingRates spoke to financial experts to find out which seemingly "good deals" you should always avoid. After all, if you're hunting down deals and steals, you want to make sure that they're ones that will pay off.

.Harder Than It Looks, Not As Fun as It Seems

Jun 17, 2021 by Morgan Housel

There’s a saying – I don’t know whose – that an expert is always from out of town. It’s similar to the Bible quote that no man is a prophet in his own country. That one has deeper meaning, but they both get across an important point: Everyone’s human, everyone’s flawed, nobody knows everything. So it’s easiest to convince people that you’re special if they don’t know you well enough to see all the ways you’re not.

Keep that in mind when comparing your career, business, and life to others.

Good advice that took me a while to learn is that everything is sales. Everything is sales. It’s usually framed as career advice – no matter what your role in a company is, your ultimate job is to help sales. But it applies to so many things.

.How To Deal With Fights About Money

By Mr Chaos on June 26, 2021 in Family, Finance

Mrs C reminded me today that my annual appraisal is next week. I’d rather refer to it as our wedding anniversary. But either way, we’re coming up on 17 years. A thriving marriage is difficult to maintain. Which is why we should spend more time celebrating our anniversaries than our birthdays. There are many things that can lead to disagreements in marriage. But the most likely cause of stress in your relationship? Fights about money. The second most likely cause? Annoying habits. Perhaps I should work on the heavy breathing.

Fights About Money

Money doesn’t just cause stress in relationships. About 75% of American adults experience financial stress at least some of the time, regardless of whether they are in a relationship.

.20 Genius Things Mark Cuban Says To Do With Your Money

Valencia Higuera Sat, June 19, 2021

You might have heard this billionaire's name, but who is Mark Cuban and how did he make his money? It's possible you know him as one of the sharks on the hit show “Shark Tank," but Cuban is more than just a TV personality -- he’s also the owner of the Dallas Mavericks and a successful investor. In fact, Mark Cuban's companies are so successful that he made his first million in 1990 after selling his business to CompuServe and then earned a $5.9 billion paycheck after he sold his online streaming audio service to Yahoo in 1999.

Cuban knows how to be rich and successful, and he isn’t afraid to share his insight. Check out Mark Cuban's advice, so you can learn how to budget money and think like a billionaire.