Do you have a budget for yourself to follow each month? If not, do you know how much you spend on food, car insurance, your home insurance, your phone, cable, or gasoline? My guess is that most of us could not quote the exact expense of each of these categories every month. You might write this off and just say, “Well nobody does!” This is simply not true, and by ignoring your re-occurring expenses you may be ignoring potential savings for this month, and for the entire year.
First, Make Your Budget
In order to get an accurate assessment of what your expenses are each month, you first need to take a guess at it – meaning, start a budget and write it down on paper. Throughout the month, you will basically find out how wrong you are, which is absolutely fine. Making mistakes is the best way to learn!
Continue reading Make a Grand This Month with Your Savings
I actually ask this question of myself quite often, “Should I be focusing on saving money or should I be spending my time acquiring a greater income?” Ideally, we should all be doing a bit of both, but which one should be our main focus?
I have to admit that I have been sucked into the show, “Extreme Cheapskates” lately. Some of these people have a reason to be extremely cheap, but like the title says, they most definitely take it to the extreme! These people are heading off on their bicycle and searching for coins in gum ball machines and pay phones, reaping a whopping $7 after an entire day’s search. This to me just isn’t worth it.
The Benefit of Saving
If you earn $2,000 per month after taxes, how much of that money could you possibly save? If you were able to find free housing,
Continue reading Should You Save or Should You Earn More Money?
I have been watching my pennies all year and have a plan to pay off my mortgage by the end of 2014. “Why on earth would you do something so crazy?”, many people ask. Well, I really don’t like debt and it sends chills up my spine just thinking about having a mortgage and business debt as well. I would much rather get rid of my large debt before I take on another one, even though it is technically for investment purposes.
My Plan for 2014 and Beyond
The plan is pretty basic to start out. I want to figure out how cheaply I can live in order to get rid of my mortgage debt by the end of December. All the while, I will be looking at investment properties for the 2015 season.
My friend Mike just shakes his head at my crazy ideas and doesn’t understand why anyone
Continue reading Earn Way More Than a Grand Per Month with Real Estate
Should you invest in Gold this 2014?
Germany has always been a major player when it comes to gold. The country has indeed shown the world that gold is more reliable compared to the US dollar, which is no longer considered a “safe haven” these days.
“The financial world was shocked this month by a demand from Germany’s Bundesbank to repatriate a large portion of its gold reserves held abroad. By 2020, Germany wants 50% of its total gold reserves back in Frankfurt – including 300 tons from the Federal Reserve. The Bundesbank’s announcement comes just three months after the Fed refused to submit to an audit of its holdings on Germany’s behalf. One cannot help but wonder if the refusal triggered the demand,” shared Global Research.
The decline of the US dollar and the stock market has affected how many investors see the currency and the market respectively. And
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I graduated with my Business degree in Finance back in 2008. At approximately this same time, my friend asked me if I have ever listened to Dave Ramsey, a personal finance teacher that preached the message of ‘Cash is King’ and ‘Debt is for Dummies’. With a chip on my shoulder, I responded, “I do agree with some of his teaching, but to avoid debt entirely? That’s simply just dumb. After all, debt is a tool and can be used to earn money without shelling out your own.”
I thought I was so smart, but in actuality I was just money hungry. Debt is hardly ever a good idea for a personal account since we are not rapidly growing our assets through business ventures and products that are creating a buzz in retail. Nope. Most of personal finance has one main inflow of money that needs to be budgeted in
Continue reading Earning a Grand Per Month is Way Easier to Do Without Debt