A lot of personal finance focuses on savings: saving for retirement, saving for an emergency, saving up for a car or house, all in addition to the smaller savings goals that you may have set for yourself. The problem is, it's a lot easier to tell ourselves that we need to save than to actually stash away the money. Whether you're currently saving nothing at all, or just not as much as you know . . .
When you have all your current expenses, needs and wants comfortably in your budget, you may be tempted to stop there. You may even have an emergency fund in place. And that's all great! But don't stop there. When you have your needs covered and your emergency funds (both your $1000 in cash and your 3-12 months income backup) in place, start focusing on saving. House Savings Buying a house is . . .
Creating a passive income is one of the best things you can do for your long term finances. Passive income helps you absorb sudden life changes, and help you pursue your passions and dreams. One of the most reliable truly passive income streams can be from a group of solid dividend paying companies. Dividends are regular cash payments that a company will make to investors just for holding . . .
You should be investing a good chunk of your long-term savings in the stock market. The stock market simply has a record of better returns than almost any other investment available to the average investor. There are, however, people who say that investing in the stock market at all is for fools. But Is The Stock Market Grounded in Reality? One of the main arguments against investing in the . . .
If you're like most people, you've probably thought a little bit about what your retirement will look like. It's probably fair to say that you have dreams for retirement. Perhaps you want to trot the globe. Maybe you want to settle in a cozy cabin in the woods. It could be the Florida beaches. Or it might be something completely different. It might even be as simple as living where you're living, . . .
When you're living on a budget, the little things count. This is a list of things that I do to save money. Should everyone have the exact same list? Of course not. Everybody values various things differently. I'm sure there are things that you do to save money that I'd much rather pay more for (like oil changes), and there will be things on my list that you'd rather not do. But hopefully there . . .
Signing up for a 401(k) through your employer is one of the easiest ways for you to successfully save for retirement. Your employer takes care of most of the paperwork and your contributions to the plan are taken right out of your paycheck. However, when you first set up your 401(k), you may be overwhelmed by all the options. How Much to Contribute When you set up your 401(k), you get to . . .
Back in the day before smart phones (when dinosaurs still roamed the earth), I signed up for my first cell phone. I was pretty sure I needed 1000 minutes a month. And of course, I needed to add on the free nights and weekends. And a bunch of extras that I don't even remember. Anyway, the plan I walked out with was going to run me $75 a month! For a single phone line! Granted, cell phone plans may . . .
P2P (Person to Person) loans are quickly becoming the popular new kid on the investing block. P2P lending sites such as Lending Club and Prosper allow you to loan your money directly to other people. The theory is that by cutting out the banks, both the investor and the borrower win, with lower rates for the borrower and higher rates for the lender. Lately P2P loans have gained attention with . . .
In past posts, I've suggested self-insuring to save money. Insurance companies have figured out the odds of you filing a claim and have set the premiums accordingly. They probably won't make money on you every year, and likely will lose money on you some years. Over time, however, they will collect more in premiums than payouts. The less insurance you carry, the more you will save. Learning how to . . .