Are you focused on today or tomorrow? This year or next year? The reason I ask this question is because of the difference in thinking between wealthy people and non-wealthy people. I’ve read plenty of books on the subject of wealthy people and the throughout all of them, there seems to be one underlying theme: […]
There is a lot of confusion surrounding the eligibility of contributing to a retirement account. I covered the topics of contributing to an IRA as a teenager and while you are in college. But what about if you are unemployed? Can you still contribute to a retirement account if you don’t have a job? As […]
The Roth IRA is a great tool for saving for retirement. You can open a Roth IRA as a teenager, as long as you have earned income. You can even use a Roth IRA as an emergency fund since the money you contribute to a Roth IRA can be taken out the account at any […]
Have you heard of the Rule of 72? No it’s not something related to Breaking Bad. It’s a math formula. Before you go running from this page, hear me out. I’ll do my best to make this math lesson as easy and enjoyable as possible. What is the Rule of 72? At its core, the […]
Dollar stores have become a great way to save money on items. They’ve been around for a long time; however, ever since the recession began in 2008, dollar stores have seen a surge in activity. In fact, many of the businesses that own dollar stores are expanding the number of store locations to take advantage […]
With only four months left in 2013 (where did the time go?), now is a good time to look over your finances. I usually look over my tax situation for the year in September because it gives me plenty of time to make any necessary adjustments. If you wait until December, it might be too […]
I want to explain to you the impact volatility has on investments. If you are unfamiliar with the term volatility, it can be defined as the fluctuation of value of the underlying asset. A government bond fund is not very volatile. Its price does not swing wildly from one day to the next. On the […]
If you are familiar with business finance at all, you know that a company’s balance sheet lists its assets and liabilities, for a point in time. It is basically a snapshot of the company on a given date. You as a consumer also have a balance sheet. Most people refer to their balance sheet as […]
You always hear the old saying to never lend money to friends or family members. The reason for this is because you don’t want money to be a wedge in your relationship should the borrower skip out on payments. While I feel that this rule is a good one in theory, in practice it does […]
Most everyone is aware of the importance of calculating our net worth for determining our financial well-being. But many of us are unaware of other easy financial ratio calculations that we can perform to get an even clearer idea of how we stand financially. The best parts of these financial ratios are that they are […]
