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Archive: Financial Strategies
Learning how to understand compounding interest rates and how they work is critical to any long term financial success. Getting the wrong interest rates on a loan can destroy your ability to save money, keeping you in debt — getting the wrong interest rate on an investment means you’re leaving money on the table. The [...]
With the economy doing poorly and banks limiting who they will loan money too, it is getting hard to get a loan in many local communities. Short term loans normally do not require any collateral, and may aid the borrower in raising their credit score. Luckily, we live in the internet age, and you can [...]
With the economic downturn many people have fallen behind on bills and are living in fear of contact by debt collectors. If you are behind on your bills, you do not need to fear debt collectors and most importantly you do not have to accept abuse from debt collectors. Congress has put in effect the [...]
People don’t like to talk about personal financial issues all that often. Part of the problem is that many people are not in a personal financial place that they would like to be. As a result of this, many of the personal financial issues that could be so helpful to people are not talked about. [...]
Debt is one of the more complicated issues of finance. Some people argue that debt is absolutely always wrong — even immoral. Others claim debt is completely natural, and having 30-100k in debt is normal even for a young person just starting out in their life. I think both of these extremes are unfortunately false. [...]
This article was originally posted over at my gold investing blog, under the title What’s the Difference Between Speculating and Investing. I’m not a big fan of speculating. I’d rather be an investor than a speculator. Being an investor is way less risky, way more consistent, and just makes more sense. But most people don’t [...]
I read a lot of books – fiction and non-fiction alike. And out of all the books I’ve read, hands-down the best book I’ve ever read is easily The Four Hour Workweek by Timothy Ferris. I’ve purchased copies to hand out to my family and friends. I believe in it that much. Focusing on the [...]
Of all of the traditional financial planning assumptions, retirement has to be one of the most baffling for me. Millions – if not a billion or more – of people around the world are preparing to work themselves to the bone over the course of their lives in order to “retire” near the end of [...]
How you view money changes how you use money. And how you use your money changes the amount of money you end up owning. In this article, I’m going to discuss the three most common financial management strategies that almost everyone on the planet adheres to. “Financial management” and “wealth management” are often catch-phrases used [...]
Financial planning is one of the most important topics for individuals who live in the West. If you have a good financial plan you can easily hit upper-middle class, send your kids to college, prepare for a lazy retirement, and leave earth with a nice inheritance for your kids. But first things first: what is [...]
