Suze Orman Says These Are The Biggest Money No-Nos
Suze Orman Says These Are The Biggest Money No-Nos
Best-selling author, TV host and personal finance guru Suze Orman has been inspiring Americans for decades to make better money moves and avoid serious financial mistakes.
She'll be the first to tell you that what you don't do with your money may be even more important than what you do with it.
Here are 22 major money don’ts — straight from the expert.
Don't be too quick to buy a home
Invest your extra money to buy your dream home -- when you're ready
What is Financial Literacy?
What is Financial Literacy?
By JJ
Do you feel like you are financially literate?
Do you know what financial literacy is?
If not, that’s okay.
The goal of this post is to help you to understand what financial literacy is and why you should care about it.
Let’s break it down.
Let’s start with the word literacy. When someone is ‘literate’ it means they have the knowledge and skills that are necessary to read and write.
When someone is ‘financially literate’ it means they have the knowledge and skills that are necessary to make well informed decisions about their personal finances.
3 Pieces of Financial Advice for Beginners By JJ
3 Pieces of Financial Advice for Beginners
By JJ
I have always been good with my money.
I’m not trying to brag, it’s just the truth.
While some people get a high off of shopping, I get my kicks watching my investment accounts grow.
I’ve always had an interest in personal finance however, it’s only been over the last year and a half that I have completely buried myself in financial books, podcasts and blog posts trying to absorb as much financial advice as possible.
Last year I had my first child, my little boy!
100-Year-Old Advice For Entrepreneurs Today
100-Year-Old Advice For Entrepreneurs Today
By Christine McAlister
3 lessons from a little-known genius
“Making chalk mark on generator: $1 Knowing where to make mark: $9,999.”-Charles Proteus Steinmetz
Have you heard the story of the man who identified the cause of Henry Ford’s broken generator and charged him $10,000 — roughly $150,000–200,000 in today’s dollars — for this seemingly simple service?
Charles Steinmetz, circa 1915 (Image courtesy of Wikipedia)
My great-great Uncle Howard worked for Henry Ford and was witness to this event, and my dad got to hear this tale told at every holiday gathering growing up.
Why do I share this legendary lore now?
I believe Mr. Steinmetz has a lot to teach entrepreneurs today.
What Would You Do With a One Million Dollar Windfall?
.What Would You Do With a One Million Dollar Windfall?
From the Recaps Archives originally posted on 4/30/2019
Post From Financial Pilgrimage April 29, 2019
How many of us have thought to ourselves, “If I only had a million dollars all of my financial troubles would go away…”?
I know I have.
A million dollars is a tricky amount of money to think about. While it can be life changing money, it’s probably not life changing enough to live off for the rest of our lives without some work.
The reality is that if most people received one million dollars, half of the money would be gone to taxes, a few hundred thousand dollars to paying off debt, and the rest spent on expensive cars, vacations, etc.
I remember being five-years-old and even $5 seemed like one million dollars at the time. As little as $1,000 seemed like a million dollars when I was a teenager. Now that I’m older, one million dollars doesn’t quite seem like one million dollars (if that makes sense).
The Velocity of Money by Virginia Gentleman
.The Velocity of Money by Virginia Gentleman
From the Recaps Archives originally posted on 6/1/2019
Re-posted just in case our Exchange Appointments are really close!!!
From Virginia Gentleman VELOCITY OF MONEY
I know I don't have to state the obvious...GO HAVE FUN WITH SOME OF YOUR NEW FOUND WEALTH. However, I would like to pass on some words of wisdom.
As we get ready to punch it in, please remember to act like you've been in the End Zone before. Take a deep breath and exhale slowly as you collect yourself with the full intentions of acting with class and integrity.
Respectful treatment of others will be an inherent responsibility of your new status, as well as respectful treatment of your money and assets. You owe this to yourself, your family, your neighbors, and your heirs.
Don't hoard it, and on the other hand, don't waste it or give it all away. Save, invest, and spend wisely.
One of the single best things you can do with a small portion, and in effect a very small portion, is to be more generous over at least the next 18-24 months (or the longer) spending your money locally. What do I mean? The answer is the ‘VELOCITY OF MONEY’.
10 Ways the Richest Billionaires Stay Rich
.10 Ways the Richest Billionaires Stay Rich
Learn how to get rich and stay rich by listening to the experts.
By Autumn Rose
The richest people in the world climbed to the top of the fiscal food chain with smart investments and dreams of making a meaningful impact on the world. They also had a good deal of business savvy.
See these inspiring tips from billionaires like Bill Gates and Warren Buffett to find out how to get rich — and stay rich.
Bill Gates: Focus on Development
Net Worth: $86.8 billion
Microsoft founder Bill Gates built a reputation for being not only one of the richest men in the world, but also one of the smartest and most serious thinkers alive today.
It should come as no surprise that Gates became one of the richest people in the world by focusing more on development and innovation than the business side of things.
In 2014, Gates told Rolling Stone, “You know, development sometimes is viewed as a project in which you give people things and nothing much happens, which is perfectly valid, but if you just focus on that, then you’d also have to say that venture capital is pretty stupid, too. Its hit rate is pathetic. But occasionally, you get successes, you fund a Google or something….”
.What Does Wealth Mean To You?
What Does Wealth Mean To You?
Post From Money Saved Is Money Earned
As a member of the personal finance blogger community, I’ve been privy to a multitude of differing opinions about a myriad of finance topics.
While most agree with a few broad topics (financial independence is good, for example) you’ll find that there’s a great deal of variance even among those who are financially savvy.
Go beyond personal finance communities and the variance grows even more.
Why is there such a difference?
What Does Wealth Mean To You?
When it comes down to it, I think a lot of this variance is simply a product of the differences in how people value wealth and success.
Introduction into Foreign Currency
. What Are the Functions of Foreign Currency Exchange Markets?
By: Thomas Metcalf Managing Your Money December 12, 2019
The foreign exchange market, also known as the FOREX market, is a worldwide network that connects exchanges around the globe to enable round-the-clock trading from when the markets open Monday morning in Asia -- Sunday afternoon in the United States -- until the American markets close on Friday afternoon. The FOREX market provides essential functions that facilitate the growth of world commerce
Foreign Exchange Markets
Currencies are bought and sold with prices determined by supply and demand with occasional government intervention. Currency transfers are accomplished by checks and bank drafts, bills of exchange, and mail and wire transfers.
The players in the market are banks, brokers and businesses, with some individuals trading on their own accounts. The FOREX market supports world commerce by allowing the transfer of funds from one currency to another, providing credit to businesses in the import trade and offering a hedge against possible exchange-rate fluctuations.
For the Love of Money
.For the Love of Money
By Sam Polk, Sunday Review
In my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. I was 30 years old, had no children to raise, no debts to pay, no philanthropic goal in mind. I wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted.
Eight years earlier, I’d walked onto the trading floor at Credit Suisse First Boston to begin my summer internship. I already knew I wanted to be rich, but when I started out I had a different idea about what wealth meant
I’d come to Wall Street after reading in the book “Liar’s Poker” how Michael Lewis earned a $225,000 bonus after just two years of work on a trading floor.
That seemed like a fortune. Every January and February, I think about that time, because these are the months when bonuses are decided and distributed, when fortunes are made.
I’d learned about the importance of being rich from my dad. He was a modern-day Willy Loman, a salesman with huge dreams that never seemed to materialize. “Imagine what life will be like,” he’d say, “when I make a million dollars.”
Take My Cash, You Discriminatory Corporate Buffoons
Take My Cash, You Discriminatory Corporate Buffoons
By Ashwin Rodrigues Jul 31 2019,
Posted in Dinar Recaps Archives 8/2/2019
'We don't take cash' is another way to say 'No broke people allowed.'
Disdain for poor people is often packaged as an innocent design choice. There is, for instance, an entire genre of architecture dedicated to subtly preventing people from sleeping or lying down.
But cashless businesses, which retailers claim improve store operations, and which seem to keep popping up in the bougiest corners of the cities that have not banned them, are an especially offensive and insidious way to keep lower-wage people out of coffee shops and salad spots.
Cash bans turn regular retailers into semi-private spaces, as some consumers, such as those who are “unbanked” (without a bank account) and “underbanked” (those who have a bank account but rely on alternative, often predatory financial products like check cashing) cannot afford the cost of admission.