There's a recent blog post by Abandoned Cubicle detailing how he's lost a million dollars over the last 20 years in unnecessary spending. It's a very insightful article, and I strongly encourage reading it. He highlights how much little money drains can cost you over the course of many years. He also highlights our collective unnecessary spending as consumers. His conclusion is that had he not . . .
Warren Buffet once said that investing is simple, but not easy. He could have said the same about most of personal finance. Knowing what we should do with your money is often much easier than actually doing it. We know we should budget, but conveniently forget to make time to review our budget. We know we should save for retirement, but never get around to making our monthly investment. And that . . .
Dave Ramsey likes to recommend buying a house with no mortgage. As in, 100% cash. When I first read this in Ramsey's book, 'Total Money Makover,' I thought this was the dumbest suggestion I'd ever read. Because everybody knows that renting is just throwing money away. So, after a year of renting, my wife and I bought a house... with a mortgage. That was 5 years ago, so now I have 20/20 hindsight . . .
Money doesn't make you happy. Endlessly pursuing more money will likely rob you of your life and time and make you miserable. But sometimes, working a little extra at a part time job or freelance gigs for a temporary income boost makes sense. Emergency Fund If you don't have an adequate emergency fund, you're leaving yourself vulnerable to the emergencies and curve balls that life likes to . . .
A bank is one of those things that should largely go unnoticed in your life. Once you find a good bank, you use it on a regular basis to park enough cash to cover your short-term needs and earn a little interest on top. You shouldn't need to spend more than 5 minutes a year worrying about your bank. Your bank also shouldn't be costing you any money. You are doing them a favor by letting them keep . . .
Reviews.com is a great resource that researches and reviews everything under the sun, including a range of financial products. It's a great place to start when contemplating any major (or minor) life changes. Below is an excerpt of an article that originally appeared on Reviews.com. For the complete version visit: http://www.reviews.com/mortgage-companies/ Of course rates are going to matter . . .
401k, IRA, Roth IRA. Sounds Greek, but we can keep track of three right? Oh, but there's also the Roth 401k. And 401a, 403b and 457s. If you've heard some of these plans mentioned, you might be scratching your head. In its infinite wisdom, our government has created all these plans for different kinds of situations. The biggest difference between all these plans is who they are . . .
Almost half of Americans can't cover a $400 dollar emergency. That could be a broken house window, broken leg, car repair or a number of other things that can pop up instantaneously and can't really be put off for very long. It would be nice if you could anticipate every event in life, but you can't. Which is where an emergency fund comes in to play. Building an emergency fund should be one . . .