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Do you invest in mutual funds?
They are a great way to diversify your money across a spectrum of companies and industries.
But what kind of funds should you be investing in?
Which one is better?
The bottom line is this:
Which type of fund will earn you a greater return on your investment?
Let’s take a look…
If you want to be debt free, you need a strategy. A method.
The average US household has $54,000 in credit card debt.
You need a plan. You really do.
The good news is that you have more than one option.
There are several ways to get out of debt, but the two most used ways are called the debt snowball and the debt avalanche.
Let’s look at the differences and see what works best for you…
Do you play the lottery?
Everyone knows the odds of winning the lottery are unlikely, but exactly how unlikely?
First off, I am talking about the major lotteries here.
Namely, The Powerball and Mega Millions. Heard of them?
The odds are similar for winning both. Around 1 in 176,000,000.
Not too bad, right? Oh wait, yes it is.
In fact here are a total of 24 things that are more likely to happen than winning the lottery…
Remember when you were able to go months without spending any money at all?
It seems like it was somewhere in my childhood, but…it’s been a while.
We spend money. All the time. That’s life.
Why not make money while we spend? It’s very possible and here are 11 ways to prove it…
I am a huge fan of the envelope budgeting system.
I think it’s a great way to stay organized and keep your budget simple.
I have written several articles on budgeting.
I have even written on how to live without a budget.
Now it’s time that I show you what I personally use for budgeting.
I use Goodbudget (formerly EEBA). This is a website and a smart phone app. A digital envelope budgeting system.
There is a free and a paid version.
Let’s take a look at what Goodbudget has to offer…
MoneyMiniBlog 2.0 will be coming soon to a computer near you.
I have plans for creating a more useful, entertaining and informative website that’s clean and easy to navigate.
I’ll let you know what’s coming, but then I want to know what you want to see!
Here are a few of my ideas…
So I met a man from Nazareth, Israel.
Not the man you are thinking of, though I know Him too.
I literally met a man in Denver, Colorado who was born and raised in Nazareth for the first 28 years of his life.
That’s pretty awesome!
Then I figured out that he and his entire family are Christians.
If you know anything about the current state of affairs in Nazareth, you know it’s not easy to be a Christian over there.
This man was surely unique and a he taught me a few things about life and money…
Making money without a job.
Yeah, that’s a thing.
It’s actually pretty common.
There are many ways to make money without and job and then there are the ways you always hear about (blogging perhaps…) that don’t seem realistic.
Like anything, it depends on how much time and effort you put into it.
Here are more than 10 different ways to make money without a job…
“Hey honey, I want a motorcycle.”
“But I want a kitchen remodel.”
“Umm, but I want a motorcycle.”
“SWEETIE. WE CAN’T DO BOTH”
He wants the motorcycle. She wants the kitchen remodel. How to decide?
When you and your spouse talk about money, there’s potential for
arguments disagreements, value clashes, and colorful conversation (to put it lightly).
This step-by-step guide will help you two figure out how to make a budget work for your life together.
A little diversity here, a little security there.
There are several components to a well rounded retirement portfolio.
You shouldn’t put all your eggs in one basket, but you don’t need a whole bunch of baskets.
It’s all about balance.
There are all kinds of ways to create a great portfolio, but you have to start with a solid foundation.
An IRA is a great foundation for retirement, whether it’s in addition to your company retirement account or on it’s own. Let’s look at 3 parts to a great IRA…
There is a difference between being broke and being poor.
Broke is a temporary states of finances.
Poor is a mindset.
Before you go on, promise me you will never refer to yourself as poor again. Even if you feel like you are.
You may be broke, but you’re not poor.
Here is why you may be broke and how to stop it…
What makes a company a large cap or a small cap?
What the heck is a “blue chip” stock?
It’s important to know the difference if you’re interested in the Stock Market.
There are ways to organize all sizes of companies into different titles, though it’s not an exact science.
These titles are given for a reason. So that you can easily determine the size of different companies.
So let’s get into what the different sizes are and what it all means…
A credit score is like your in-laws.
Some are really great. Some are not so great. And some people like to pretend they don’t exist.
Well, they do exist (your credit score that is…and probably your in-laws too) and whether you have a great credit score or a poor one, there is always room for improvement.
You can always do better.
Here are some tips for improving your credit score, no matter how good or bad it is…
“Markets are constantly in a state of uncertainty and flux and money is made by discounting the obvious and betting on the unexpected.” -George Soros
“I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for five years.” -Warren Buffett
Most of you know that I am a huge Buffett fan, and I consider myself an investor like him. (Well, maybe not like him, but an investor nevertheless.)
George Soros is more of a trader.
One is not right and the other wrong. Buffett and Soros both have billions of dollars to prove that.
But it is important to know which one you are…
Summer is coming soon to a home near you. In fact, it’s coming to your home…unless you live somewhere weird.
There are ways to cut cooling costs. Practical ways.
You don’t have to spend thousands to save hundreds.
Unless you want to do that. But you don’t want to do that.
That would be dumb. I don’t even know why we are still talking about it.
Since you don’t want to do that, do this…
Giving should be fun.
If it isn’t fun, you’re doing it wrong.
I love to give, so I am always looking for new ways to do it.
I found a few…by a few, I mean 20.
If you like to give in unique and creative ways, check these out…
My wife and I headed into Oklahoma City this past weekend to look for a vehicle.
After spending the majority of the day at a certain car dealership, we ended up driving a new car home…well, new to us.
We are happy with the vehicle, and we were even happier with the price.
Long story short, they were asking almost $9,000 for a vehicle that we ended up purchasing for $2,800.
How did we do that? We used these 6 haggling hacks (I hope you can appreciate the alteration) to get the deal…
Spring is in the air.
It’s beautiful out, so obviously the first thing you want to do is
step outside think about your credit! Right?
Maybe not, but it’s a great time to do a quick spring cleaning.
You’re already spring cleaning “everything else”, why not clean up the thing that you buy “everything else” with. I’m joking, of course. I know you don’t buy everything with credit cards.
Or at least, if you do, you pay them off every month…don’t you? Sure you do!
Here are some simple and, most importantly, free steps to cleaning up your credit…
36% of Americans save absolutely nothing for retirement.
80% of people ages 30-54 believe they will not have enough money saved for retirement when the time comes.
You know you need some sort of retirement plan, but can you afford it?
Are you a statistic? Or on your way to becoming one?
Spoiler alert: Yes, you can afford to invest in your retirement
It doesn’t take much to get started and it takes even less to keep going.
Here’s how you can invest for retirement, even if you think you can’t afford it…
Refinancing your home is like the government.
Sometimes it makes sense.
Sometimes it doesn’t.
And sometimes it will force you to spend a lot of money with little or no return.
Doesn’t that remind you of the government?
So, when does it make sense to refinance?
There are ways to figure that out and there are some things you need to know about refinancing…
Should you refinance your home? Is it worth it?
That depends! But should you look into it? Yes!
It’s amazing what 1% can save you over 10, 20 or 30 years.
This is a sweet infographic that breaks down exactly what 1% could mean for a refinance…
We see commercials and ads for charities every day.
Starving children, abused animals…you’ve seen them.
Have you ever questioned how much of your money was actually spent on helping?
And how much was spent on the charity’s employees? Or on that commercial?
You may have thought something along the lines of…
“Why didn’t they spend this money on feeding those children instead of paying for this expensive commercial?”
Let’s see what’s going on here…
There are strategies for paying off your home early.
Those strategies are great and they work.
But is it worth it to pay off your home early?
With mortgage rates being so low, why not invest the extra money instead of paying off your home?
I really don’t think you have to pick. I think you can do both.
If you want to pay off your home early, this may be the best strategy for you.
Let me explain…
My wife recently stumbled upon a great way to save money on produce.
Bountiful Baskets Food Co-Op.
This is a volunteer driven operation that allows you to get fruits, vegetables, bread and more for great prices.
There are no employees, only volunteers! So you get rock bottom prices.
Volunteers organize the food pick-up sites and more volunteers help the site organizers sort the food.
So let me explain a little more about what Bountiful Baskets is…
Then I moved on to answering the question: Is it dumb to pay off your mortgage early?
After that, I wrote about everything you need to know before you pay off your mortgage early.
Today I am giving you strategies for doing exactly that. Paying off your mortgage early.
As promised, here are 3 quick strategies to pay off you mortgage faster than you ever thought possible…
When you hear about investing for retirement, you usually hear about mutual funds.
More specifically index funds. Especially if you have been reading my articles.
It’s not just me.
Index funds are widely held as one of the best investments for retirement.
Especially if you want the easy way out.
Even Warren Buffett recommends index funds for the average investor.
That’s all good and well, but there are 1000s of index funds, which ones should you invest in?
Good question and here is the answer…
Welcome to my 2nd link roundup.
This month I have been searching for the best and my favorite articles on finances.
There are 10 great articles here.
Take time to read through these articles.
You can learn a lot from them, but also be sure to check out the rest of the site when you read an article.
These are all great blogs…
Today is the 2nd and final part in this series.
If you missed part 1, you can read it here.
One of the discussions that came up in part 1 was about investing instead of paying off your home early.
It’s a common perspective that you shouldn’t pay off your mortgage early, but you should invest the money instead.
It makes sense, because mortgage rates are low right now and you can probably earn more by investing than you can save by paying off your home early, but there is actually a way to take advantage of both!
It’s not always about having the highest return, sometimes it’s simply about being totally 100% debt-free…which is an amazing feeling.
Soon I’ll be publishing an article on how to get the best of both worlds, but for today, here is part 2 of what you should know before you start paying off your mortgage…
“I’m in debt. I am a true American.” -Balki Bartokomous
It’s true. Just about every person in American (and much of the world) is in debt.
We are so used to it that we even consider ourselves to be debt-free when we still have a mortgage.
You know how it goes…
“Yeah, I’m debt-free…well, except for my house.”
If you have a mortgage you are not debt-free.
But you can be…
There is a lot to know before you start paying off your home early…
To rent or to buy…that is the question.
I recently wrote an entire 2-part article about this.
This infographic explains a few more points.
It’s not an easy decision, so you will want to do some research.
You’re in the right place…