The One Tiny Habit That Leads to Wealth

Kathleen Elkins 

Chris Reining's career started out according to plan. "I was working in IT and it was my dream job for a while," the now 38-year-old tells CNBC.  He bought a condo and a BMW and shopped at Whole Foods every week: "I was living a pretty good lifestyle. But in my late 20s, I started becoming a little disillusioned with the whole 9-to-5 grind. It was so repetitive."

 Reining, who is based in Madison, Wisc., wanted something different, he says: "The freedom to do what I want to do, when I want to do it."

8 Critical Personal Finance Numbers You Need To Know

Do you know your financial status?

If not, you’re not alone. A recent Gallup poll found that only 32% of Americans have a household budget.   Furthermore, a recent Bankrate survey found that 55% of Americans don’t think their financial situation will improve this year, with 44% who think their situation will stay the same and another 12% saying they think their situation will get worse.

While you may feel your financial situation won’t improve, you are guaranteeing it won’t improve if you don’t know where you stand or if you’re actively ignoring your finances. Like any path taken in life, you need to know where you’re starting so you know how far you’ll need to go before you reach your destination.  Every journey has a beginning, and you must know yours.

Organize Important Papers in Case of Emergency

Help others find key documents and records if you are incapacitated

 Based on content from the NIH/National Institute on Aging AgePage "Getting Your Affairs In Order."

No one ever plans to be sick or disabled.   Yet, planning ahead can make all the difference if you take an unexpected trip to the hospital or suffer a health problem making it hard to remember where you put everything.   Good planning and organization is a gift to those who will help you manage your health and financial affairs if needed.

How Life Changes When You Get Out of Debt: 3 Stories To Spark Your Debt-Free Journey

Andrew Lisa   Wed, June 28, 2023

According to the Money and Mental Health Policy Institute, problem debt is a primary contributor to mental health issues. It destroys relationships, suffocates personal and professional growth, and kills marriages.

Since debt makes future borrowing both necessary and more expensive, it leads to an endless cycle of financial insecurity characterized by perpetual anxiety and stress.

How to Keep Your Money Safe When Online Banking

Ashley Kilroy  Wed, June 28, 2023  SmartAsset

Bank failures and economic turbulence have made bank depositors nervous – but what about banks where you can’t visit a branch or speak to a teller? Can you withdraw your money when needed and protect yourself from risks? While the rise of online banks has given customers increased savings and a higher APY, it also raises questions about accessibility and safety. However, online banks are safe as long as they are insured by the FDIC. Because online banks can get the same coverage as brick-and-mortar banks, their customers aren’t at risk of losing their deposits.

16 Rules That Oprah, Mark Cuban, Beyoncé and Other Millionaires Swear By

Gabrielle Olya   Tue, June 27, 2023

Being a millionaire or billionaire -- especially a self-made one -- usually requires being disciplined about saving and spending, as well as investing wisely. Although the super-rich can splurge on lavish vacations and fancy cars, some eschew a luxurious lifestyle for one that allows them to maintain their wealth over the long term.

So, if you want to live like a millionaire yourself, you'll have to follow the money rules of the wealthy.

Dangerous Android Trojan Targets 600 Banking Apps — And It's Draining Accounts

Anthony Spadafora   Updated Tue, June 27,

Android smartphone owners are once again under attack from the dangerous Anatsa banking trojan which has been updated with new capabilities and can now target even more banking apps.

As reported by BleepingComputer, this new mobile malware campaign has been active since March of this year and so far, banking customers in the U.S., U.K., Germany, Austria and Switzerland have been targeted by Anatsa.

I’m a Millionaire: Why I’m Not Passing Generational Wealth to My Kids

Andrew Lisa   Tue, June 27, 2023

In America, success is largely measured by wealth, and if you earn enough to outlive you, you can pass it on to your kids. But is generational wealth a worthy aspiration?  There’s a growing movement among millionaires and billionaires to give away their fortunes — but not to their children. By ensuring that your kids are born rich, the theory goes, you rob them of the tools they need to succeed independently.

GOBankingRates spoke to a self-made millionaire who adheres to this philosophy, because his ability to succeed was rooted in the fact that no one was going to do it for him. Here’s his take on the issue.

I’m a Financial Advisor: Here’s the First Thing I Tell New Clients To Do

Andrew Lisa   Mon, June 26, 2023

The most universally applicable piece of money advice is to work with someone who gives money advice for a living. Capable and experienced financial advisors often join family doctors and lawyers as the most trusted and indispensable professionals in the lives of the clients they serve.

They guide their clients through debt reduction, estate planning, taxes, investing, entrepreneurial endeavors and the basic day-to-day management of their personal finances. Perhaps most importantly, they cut through the clutter, confusion and conflicts of interest that bombard people every day with misinformation through their phones, laptops and social media feeds.