As we’ve written about many times before, personal finance seems like a complex topic. With so much information (both good and bad) available, things can get really confusing.
We hear the message all the time—save money. Although that message is frequently given, there’s rarely a reason or a why given behind it. For some people, it may be obvious why they are saving, but for others, not so obvious. A couple in their mid-30’s with a family of four has different reasons for saving than a 22-year old fresh out of college.
I think when most people think of getting a raise or pay increase, they think of making more money at work. Maybe by getting a promotion and making more, or moving up a step on the pay scale. Or making more sales, getting a bonus, or even starting a business.
There’s an idea in personal finance that for the average person to obtain wealth, they need to cut a bunch of things out. Maybe it’s because cutting spending is the lowest common denominator, or the easiest thing for people to relate to. I’ve frequently heard statements equivalent to a crash diet:
A little over a week ago I was at a baseball game between the San Diego Padres and Los Angeles Dodgers. I’m actually a diehard San Francisco Giants fan, I was at the game because my wife is a Dodgers fan and she wanted me to go. People always laugh when they hear about our baseball allegiances because the Giants and Dodgers are longtime rivals.
I read the book Rich Dad Poor Dad for the first time about ten years ago. Since that time, I’ve re-read the book at least a few times. Each time I’ve read it I’ve picked up something new. Definitely one of my top books of all time.
A few weeks ago the great Mike Krzyzewski announced next year would be his last as the basketball coach at Duke University. “Coach K” as he’s called, has been at Duke for over 40 years and is arguably the greatest college basketball coach of all time. John Wooden fans would probably have something to say about this, but it would be a spirited debate.
For new investors especially, it can be intimidating to start investing. One of the myths I write about in The 12 Money Myths You Should Ignore is that investing is only for the wealthy. In that post I write about the stereotypes of wealth and investing—images of yachts, helicopters, and 10,000 square foot mansions. While it’s true that rich people do invest, it’s also true that anyone can invest.
A few weeks back I published a post about making your own coffee titled Brewing Your Own Coffee: Can it Really Make You a Millionaire? One of the biggest clichés in personal finance is the idea that making your own coffee can make you a millionaire, or at the very least, save you a lot of money.
Financially free or debt free? Are they the same thing or is one better than another? Do you have to be debt free to be financially free? These are questions I hear a lot, and I think there’s a lot of confusion between the two.
There’s a money evolution going on inside of you whether you know it or not. We are always learning and changing. Some people make productive
The power of compound interest is undeniable. Compounding starts off slow, followed by more slow progress, and then BAM! It’s off and running and your
Scarcity exists everywhere–with time, money, ideas, a general mindset about life, and a plethora of other things. The premise of this post is that scarcity
Financial Mistakes happen. As much as we try to avoid them, they will occur. Hopefully not twice, but that happens too. It’s something everyone has
