It is certainly an awesome thing to make an extra grand per month. I set up a website over three years ago and earned many thousands of dollars over the years. This has allowed me to pay off large debts, purchase a home (and renovate it), and has now allowed me to start putting tons of money into my savings account (at a faster rate than I ever thought possible)! When you start earning your grand per month, you will begin to understand the power of this extra cash. BUT…not to be a downer or anything, but the government still deserves their tax money on your earnings, and it is best to plan for this in advance.
If you are a contracted employee or are making some money on the side, you are likely not getting taxed on your earnings up front. I strongly urge you to only consider half
Continue reading Don’t Forget About Those Taxes
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
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
At this moment, my dad is retired and my mom will be retiring in the next 20 days. They have some money stashed away in their retirement account, but if they happen to live for another 20 years, their money will almost certainly be long gone.
Since I live and breathe finance, my dad started asking me questions about what they should do with the money that they do have. “Will the stock market crash soon? Should I put my investments in something other than stocks and bonds? What is a good hedge investment that will allow me to keep my money over the next 20+ years?” These are all great questions, but to be honest, nobody can answer them with 100% certainty (not even me!).
My Best Advice For My Dad and Mom
While my mom and dad were hoping that I had the magic answer of what they
Continue reading Earn a Grand Per Month In Your Retirement