Older Women Are the Best Money Mentors
.Older Women Are the Best Money Mentors
By Charlotte Cowles
I am 100 percent certain that Janna, a slightly older colleague at my first staff job, has no recollection of doling out financial wisdom that I still think about today.
About ten years ago, we were lurching upwards in our building’s hot, rickety elevator when she made an off-handed comment about how our employer, despite its general stinginess, had a pretty good 401(K) matching policy. “It’s free money,” she said. “You signed up for it, right?”
For the record, my dad had told me the exact same thing, and so had the lady in HR when she handed me my new-hire paperwork, but it was Janna’s words that actually penetrated my thick skull.
“Yeah,” I lied, and then raced home to dig out the enrollment forms. Every time I’ve started a new job since then, I’ve thought of that conversation and followed Janna’s advice.
4 Laws To Generate Wealth
.4 Laws To Generate Wealth
By The Money Mix
Want to generate wealth? Play by the rules.
Have you ever come across the phrase – ‘play by the rules’? It’s perhaps the most powerful phrase in the world we live in. Why? Because the world itself is in existence because it plays by some specific rules.
All-natural laws are just what they are; they are not there for us to judge their fairness or otherwise. The best we can do is to take advantage of them and be a blessing to ourselves and our generation.
If you want to generate wealth, for whatever reason you might need it for, these laws should be your best companion.
I have compiled these four laws because of the evergreen nature, and if they are considered with a kin eye, you are on your way to wealth.
Why Wealth is Only Half the Story
.Why Wealth is Only Half the Story
By Max From The Money Mix
When financial freedom is mentioned, what comes into your mind?
You probably think of having plenty of material wealth and possessions, perhaps.
Well, that’s just not the whole story. I will let in on a secret that most people miss. Financial freedom is not just about attaining plenty of monetary possessions, it’s more than that.
Financial Freedom Secret
A majority of people make the mistake of tagging their value of financial freedom on some imaginary figure or a specific amount of money. They envision that, once they hit that target amount, then they will have attained financial freedom and will no longer have to work again.
Well, think about the likes of Bill Gates, Warren Buffet and other fellows who are wealthiest in the world. The money they have can sustain them for their entire life. But, they still work, however, their motivation is now different.
The Things People Say About Money
The Things People Say About Money
And What to do About It — So Your Voice is Heard
Sherry Parks
I remember it as clearly as if it happened yesterday. I was right in the midst of my accounting career and was working my way up the ladder. At that point, I had already received several pay increases and promotions.
I was out shopping with my mom and I don’t remember exactly what we were talking about, but I do remember my mom’s words. She came out with this zinger:
“If you can’t live on $25k per year, then something is wrong with you”. Let me tell you, this wasn’t in the 70’s or 80’s. This was in the 2000’s. A time when the average annual income was between $45 and $50k.
I chose to ignore her statement. I was already making more than double that amount and I wasn’t prepared to share that with my mother. In fact, I was a little bit afraid of telling her.
What would she expect of me? What would she think of me? What would her judgments of me and my lifestyle become?
This is one conversation that has never left me. Not because it was a big emotional scene. Not because I received specific judgment on me personally. I think it was because I needed to remember that moment.
I’ve already shared that I made a decision as a teenager that I wasn’t going to live in constant struggle with money. You can read more about that here. I was clear that $25k per year wasn’t enough.
I was determined to feel good about money and that meant that more would have to flow into as well as back out of my life in order for me to have ease with money.
Why You Should Buy Travel Insurance
.Why You Should Buy Travel Insurance — Even if Your Credit Card Offers It For Free
By Holly Johnson. 18 October 2019.
Travel is never cheap, and that's especially true if you're flying to a destination far from home. For that reason and plenty of others, savvy consumers tend to pay for travel insurance before they even head to the airport.
With a travel insurance plan, you can buy coverage that will reimburse if you if your trip is canceled or delayed for a covered reason beyond your control. You can even purchase "cancel for any reason" policies that let you back out of your trip any time you want.
Other inclusions travel insurance policies offer include medical coverage, baggage delay coverage, lost luggage insurance, travel accident insurance, and more.
5 Reasons Not to Use Debit Cards When You Shop Online
.5 Reasons Not to Use Debit Cards When You Shop Online
By Holly Johnson 18 October 2019
Many consumers use their debit cards for everything they buy. Using debit instead of paying with a credit card can help you avoid the potential for debt. The money is taken out of your bank account directly and immediately, so there’s little chance to spend more than you have, unlike using a credit card.
But when shopping online, there are reasons to consider using a credit card instead.
Using a debit card for online purchases can mean enduring greater losses if you're a victim of fraud. Plus, you're giving up valuable consumer protections and rewards each time you make a purchase with debit in a store or online.
Here are all the reasons you may want to stop using debit and use a credit card instead.
1. You May Be Putting Yourself At Risk For Fraud
It's easy to assume you won't be liable for fraudulent purchases made with your debit card or checking account number, but this isn't the case. Where most credit cards come with zero fraud liability thanks to rules enacted in the Fair Credit Billing Act (FCBA), the same protections don't apply to transactions made with a debit card.
In fact, someone who finds your debit card number could wipe out all the money in your accounts. If you don't notice or report it in time, you won't have any way to get your money back.
What a Financial Trainwreck Can Teach Us
.What a Financial Trainwreck Can Teach Us: Six Mistakes to Learn From
By Donna Freedman
Debt Management Family Getting Started
What A Financial Train Wreck Can Teach Us
A married couple recently confessed to some horrifying money blunders in an interview on the WealthSimple website. In their mid-40s and the parents of three kids, the pseudonymous Kate and Tom bring in $160,000 a year through their day jobs in insurance, with additional funds whenever Tom moonlights as a bartender for private parties.
Yet they have always spent more than they earned, and cannot seem to learn from previous mistakes. A few examples:
After wiping out their credit card balances a decade ago, they charged them back up even higher.
They have postponed paying back Kate’s law-school loans, which are now up to either $120,000 or $140,000 (she isn’t sure – and incidentally, she has never practiced law).
They spend “insane amounts” of money on groceries at places like Whole Foods (where one of their kids likes to snack on $15 sushi).
5 Money Conversations Every Couple Should Have
.5 Money Conversations Every Couple Should Have
By Ashley Marcin
Did you know that the secret to a healthy relationship maybe hiding in your wallet? No, money can't buy you love, but talking about the dollars you have may make a lot of, well, sense. In a recent study, researchers discovered that lack of communication about money leads younger couples to both arguments and added stress.
Here are some financial discussions worth having, especially if you share the bulk of your expenses. Heck, they may even bring you closer together!
1. Where Is Our Money Going?
Have you sat down with your partner to really dig into your bank accounts lately? It may be a good idea, especially if you hope to spend many Valentine's Days together. A national survey conducted by Money Magazine revealed that 70% of couples fight about money matters more than they do about chores, sex, snoring, and togetherness.
What's high on their hot points? Frivolous spending.
The 10 Most Valuable Financial Lessons I Learned
.The 10 Most Valuable Financial Lessons I Learned in 2018
By Trent Hamm Updated on 01-10-19
Getting Started
Each year, during the period between Christmas and New Year’s, I sit down and look over what happened during the past year, what I can learn from that, and what I can apply from that to the year to come.
I usually come up with a big handful of life lessons during that review, things I learned from situations in my life that didn’t quite go as I liked. What went wrong? Where did I go wrong? What can I do better?
These life lessons spread across all spheres of life and usually number in the dozens. I tend to literally make a list of them as I review the year as a way to figure out how to do better in the coming year.
Among the lessons I learned in the past year were 10 that have real personal finance implications, though some tend to branch over into other spheres of life. I thought it might be valuable to share those lessons, along with what I hope to do differently going forward.
Lesson #1: If the stock market is scaring you in terms of your future, you’re either not invested appropriately or don’t know what you’re invested in.
This is something I did right this year, but the bumps in the stock market reminded me of the panic I felt in 2008 when I watched my retirement balance fall by 40%. I didn’t change anything back then, but I was often sick to my stomach about it and my instinct kept screaming to run away from the risk.
But then… things recovered. Between 2008 and 2018, my retirement accounts tripled in value.
The stock market is swooning again, but this time I don’t have the butterflies. Why?
The 3 Things You Should Do To Build Wealth
.The 3 things you should do to build wealth in 2019 (updated regularly)
by Steve Adcock January 10, 2019
In December, I celebrated my two year anniversary of early retirement from full-time work. In 2016, I quit the rat race at 35 to pursue projects that I actually cared about (imagine that!).
Without the relatively comfortable full-time paycheck.
It’s been an amazing ride. I’ve learned a ton about freedom and what it really means to control every second of your day. Believe it or not, it’s not quite as cut-and-dry as many people believe.
I’ve written about my story a lot, and I’m as transparent as I can possibly be. We’re not your rags to riches story.
Both my wife and I enjoyed a solid upbringing as children. Neither of us struggled through college or to find a job. We both earned highly-marketable degrees and made good money in the technology sector.
In fact, we pulled down a combined $250,000 in our last years working.
We know how to build wealth, and those techniques enabled us to quit full-time work pretty damn early. We’re both in our 30s and we’re proud of what we’ve accomplished.
How did we manage to build so much wealth? It’s simple, though not necessarily easy. And, it generally takes a lot of time. Let me explain.
Personal Lessons Learned Since The 2008 Financial Crisis
.Personal Lessons Learned Since The 2008 Financial Crisis
By Financial Samurai
On September 15, 2008, Lehman Brothers went bust. I remember this day clearly because I made a $200 side bet with my friend over the weekend that the US government would bail them out. To my surprise, the US government didn’t rescue Lehman, and the stock cratered that Monday and never recovered.
Despite all the economic devastation, I wish I could rewind time. I’d rather be 31 than 41, simply because I love life and want to live as many years as possible.
The period between 2008 – 2018 was the most exciting 10 years of my life. Here are some of the lessons I have learned since the financial crisis.
Lessons Learned Since The 2008 Financial Crisis