It may seem like there is a lot to personal finance. And in one sense there is. There are thousands of different approaches to personal finance. And this can get overwhelming. It may seem so overwhelming that you feel paralyzed at square one. But it doesn't have to be. There are a handful of things that are critical in personal finance. All the rest is splitting hairs. So go through each of these items one at a time and make an improvement in each area. . . .
I hated physics class in high school. For some reason tho, I remember the concept of inertia. Basically if an object is at rest, its tendency is to continue to be at rest. If the object is in motion, it will continue in the same direction unless redirected by something else. It's a concept we observe all the time in our surroundings. We also find inertia in personal finance. The Flow of . . .
If you are in debt, you might be happy where you're at. However, there's a good chance that you've come to despise your debt and have resolved to live debt free. In this case, there are a number of strategies to pay off your debt. You could just make minimum payments on all your debt. This would be the least painful in the short-term, but of course would mean staying in debt for longer. To pay off . . .
You need a budget. Period. A budget ensures that your money goes to things that are important to you. A budget also ensures that you maintain a positive cash flow- meaning you don't spend more than you earn. Budgeting basically divides your money between needs, wants and goals. Or I should say needs, goals and wants, since that should be the priority order. If you don't use a budget, even . . .
Thank you for supporting Pennies and Dollars by reading this guest post. As Christmas comes knocking, most people worry about the spending that this time of year demands. You want, perhaps even need, gifts for friends and colleagues, not to mention relatives. For an individual with a family, Christmas expenses become even more of a nightmare. There could be children who have been waiting for . . .
You hear it over and over- 'the quickest way to wealth is real estate.' Self made millionaires often attribute their wealth to real estate, and retirees count on income from real estate to supplement other income sources. But how do you invest in real estate? Traditional Real Estate Has Potential for Great Returns A common and relatively easy way to invest in real estate is by buying a second . . .
A little while ago, I published a post detailing the Crazy (or not so Crazy) Things I Do to Save Money. Since there are lots of people who are smarter, crazier, more frugal or quirkier than me, I've compiled a list of their ideas on a new page- Crazy (or not so Crazy) Things Smart People Do To Save Money. Enjoy! . . .
Credit cards are everywhere in our society, yet they can be a touchy subject. And although many people use credit cards, few people really know how credit cards work. Credit cards are convenient and easy and come with several perks, and they have ruined people's finances in the blink of an eye. They can be a superhighway to high interest consumer debt that is near impossible to get out of. Some . . .
If you haven't seen or used one, a prepaid debit card looks and acts very similar to a regular debit or credit card. The biggest difference is that you don't need to maintain an account. Instead, you simply 'load' the card by paying a cashier at a retailer or bank selling the card. Prepaid Cards Are Expensive According to a study done by the NFCC, over 75% of prepaid card users believe that . . .
As the weather starts cooling this time of year, space heaters start getting popular again. You'll start seeing more ads for them and they'll start filling up store displays. Space heaters come with some pretty hefty money saving claims. Your actual savings depend a lot on how you use them, however. Heating with a Space Heater is Less Efficient than You Think If you live in town and your . . .
Buying a new car gets a lot of flack. Mention buying a new car, and somebody is bound to tell you that the new car loses a third of its value as soon as you drive it off the lot. Or some similar percentage. Instead, you're supposed to buy a 2 or 3 year old gently used car. By this theory, you miss the depreciation, but still get the benefits of the new car. But are things really that . . .