.Give Back: Strategies To Make Donating An Easy Part Of Your Finances

Cash For Tacos – June 15 2020

Do you often think about giving back by making more charitable donations, but struggle to do so?

Maybe you find it hard to let go of the money you worked so hard for.

Maybe you find it difficult to trust that your money will be used the way you think it should be.

Or maybe you just can’t figure out how to balance making donations with all of your other money goals.

We all have our own reasons for wanting to give more, yet struggling to do so. I look up to the people who find it easy to give their money away. Because for me, it takes a bit more work. I hold on to my money tightly, and donating does not come naturally to me. At this point in my life, a point where I feel secure in my finances, I want to make giving back a more intentional part of my financial plans.

.Ways To Build Generational Wealth

By Brian @ My Millennial Guide

Generational wealth is usually referred to as financial wealth that is passed down from one generation to another even though it can take other forms like traditions or heirlooms.

I’m currently in a position where I am trying to build wealth so that I can pass it down wealth from generation to generation. I’ll get into ways to build generational wealth later in the article but first I wanted to get into defining generational wealth…

What Is Generational Wealth?

Generational wealth is acquired by building generational assets which can include real estate, stocks, businesses, and many other types of assets.

.The 3 Muscle Groups Of Wealth Building

April 18, 2019 FIRE By Mr. Bo Dangles

Welcome to the Gym of Wealth! I’m your trainer, Mr. Bo Dangles. It’s time to get to work.

It’s my job to give you the tools you need to build a nice, strong bank account that will give you all the confidence of a rhino, attract the envy and admiration of your peers, and give you the power and freedom to spend your days as you want. Everyone who goes to a real gym has their own reason for being there, but those reasons always boil down to one of three categories: They want to look better - They want to feel better - They want to do more

I know moms who exercise because want to be able to carry their kids around without feeling winded. They want to do more. I went to school with a bunch of frat guys who wanted to make their tee shirts look even tighter. They want to look better. I know a bunch of 20- and 30-somethings who are addicted to the neurochemicals, stress reduction, and better sleep that comes from exercise. They want to feel better.

Strangely enough, everyone who strives to accumulate wealth has their specific reason, but those reasons fall into the same few categories!

.Momentum: Once an Object Gains Momentum It Tends to Stay In Motion

Financial Planning Justin / June 18, 2020

If you look up inertia in the dictionary you will find its definition to be (emphasis is mine) “the resistance of any physical object to change its velocity. This includes changes to the object’s speed or direction of motion.“ Inertia is the glue preventing too many individuals from chasing their dreams, from finding and living their purpose, and from living a fulfilled life. It’s easy to want to make a change. It’s hard to make change happen.

Too often, whether it be with weight loss goals, savings goals, or career goals, individuals set an ambitious, but attainable, goal only to give up shortly after starting due to some type of set back.

They get off to a great start but life brings an unexpected challenge and they never manage to get back on track—the goal they are chasing seems too far away—and fall back into the rut they so desperately want to escape. Inertia grabs ahold again.

.7 Important Ways You Should Not Follow the Crowd Financially

By Marc | Apr 18, 2019 | Personal Finance

Many Americans are in pretty bad shape financially. In fact, the statistics can be pretty shocking.

“Nearly half of all working-age families have zero retirement account savings,” and the median family has only $5,000 saved for retirement

57% of Americans have less than $1,000 in their savings accounts

The average household owes nearly $7,000 in credit card debt

Despite the fact that most Americans are not on the right path financially, many are still following the crowd and making decisions based on what other people are doing.

If you want something better, you need to do something different.

.10 Reasons You (Think You) Don't Need a Will

Allison Kade Feb 28, 2019

Money can be fun: buying stuff, being generous with our friends, planning for our glorious future.

And, sure, it can sometimes be a little less fun: paying down debt, balancing our budget, planning for the unexpected.

So, understandably, a lot of people focus on the fun stuff and put off the rest. We’ve spoken to too many people who haven’t created a last will and testament. Here are the top reasons people convince themselves they don’t need a will . . . and what you should really know.

1. What If I’m Immortal?

A last will and testament describes your wishes if you were to pass away. It can cover your property, and even name whom you’d like to take care of your kids if you were no longer around. Even if you're young now, you could still benefit; millennials need wills, too.

.How To Avoid Costly Estate-Planning Minefields

6 Costly Estate-Planning Minefields, And How To Avoid Them

Over the years many celebrities have provided cautionary estate-planning lessons, and actor James Gandolfini, who died in June 2013 at age 51, is no exception. The actor, known for portraying mob boss Tony Soprano, left a portion of his estate, widely estimated at $70 million, to relatives and friends through his will, which became public and was criticized as being badly constructed. For one thing, it exposed some of his wealth to probate, the time-consuming and potentially costly process a legal court takes to administer financial affairs. In addition, his estate could owe millions of dollars in federal estate tax alone.

At least Gandolfini had an estate plan; fewer and fewer Americans do. In 1998, 61 percent of Americans 55 and older had a will or trust. In 2012, only about 54 percent did, says a study by Texas Tech University. Failing to take action or making the wrong moves can be costly for you and your heirs. Here are six blunders experts told us they see most often, and what to do instead:

.Money Lessons From Boris Becker – How To Avoid The Riches-to-Rags Debacle

June 27, 2019 By Aditya

Whether you like the sport of tennis or not, you are probably familiar with the face of a former world champion Boris Becker. A flamboyant career winning 49 singles titles and 15 doubles titles paved the way for his $29 million net worth in the year 2017.

So, how do you go from a multi-million dollar net worth to bankruptcy where you are forced to auction all your trophies and awards to pay off one’s debts ?

The answer is simple — Bad Financial Planning.

While Becker didn’t turn bankrupt overnight, his riches-to-rags story is a much needed wake up call to reevaluate our finances and strategically plan for the long term. Before you lay flat on the turf, helplessly declaring your bankruptcy, let’s understand how you can avoid this massive debacle.

.Money Lessons From Boris Becker – How To Avoid The Riches-to-Rags Debacle

June 27, 2019 By Aditya

Whether you like the sport of tennis or not, you are probably familiar with the face of a former world champion Boris Becker. A flamboyant career winning 49 singles titles and 15 doubles titles paved the way for his $29 million net worth in the year 2017.

So, how do you go from a multi-million dollar net worth to bankruptcy where you are forced to auction all your trophies and awards to pay off one’s debts ?

The answer is simple — Bad Financial Planning.

While Becker didn’t turn bankrupt overnight, his riches-to-rags story is a much needed wake up call to reevaluate our finances and strategically plan for the long term. Before you lay flat on the turf, helplessly declaring your bankruptcy, let’s understand how you can avoid this massive debacle.

.Do's & Don'ts When You Increase Your Income

7/11/2019 Team Member Blog, Consumerism to Frugalism

2 Things You Should Do (and 1 You Shouldn’t) When You Increase Your Income

Most of you would like to increase your income.

Whether you’re looking to make a career move, change companies, start a business, or simply move up in your current situation, making more money is likely one of the major factors in your job decisions.

Here at Money Saved is Money Earned, we know money isn’t everything and you shouldn’t live just for money. However, we also know that money plays a major factor in your ability to live the way you want.

While we should live within our means, most people would make very different choices if money wasn’t an option. Having said that, money should never be the end goal.