I’m bad at budgeting , your bad at budgeting, the government is bad at budgeting…
Do you see a pattern?
Heck, some people don’t even like the word budget, but regardless if you call it a budget it or not there is a way to not fail it.
Most people fail at diets and budgets for this reason!
Check out my video blog to find out!
Since the conception of the Individual Retirement Arrangement (IRA) in 1974 from the Employment Retirement Income Security Act (ERISA), it has helped thousands of individuals to save money for a comfortable retirement. Over the years, the types of IRAs have evolved and increased in number.
Although, this gave contributors more options to choose from, in some ways, it made it hard for some to select which one to use right away. The types of IRA available are SEP IRA, Simple IRA, Self-directed IRA, and the two most popular types: Roth IRAs and Traditional IRAs.
How well do you know your IRA?
Hello fellow YFS’rs! I’m back from vacation and let me tell you it was amazing! I’m typically a beach, island, hot weather, tons of sun type of person. But, this year we decided to vacation a bit differently.
My wife, since I’ve known her, has wanted to visit Paris. Well, we decided to do a bit more than Paris.
We’ve visited the following locations:
Being free of debt sounds wonderful, and it’s a worthy goal. Unfortunately, accomplishing it can be difficult. Many people turn to bankruptcy, or they choose to live with the crushing debt. While getting out of debt on your own won’t be easy, it can be done. Here are some tips to help you get there without drowning in the interest.
Owning a home has always been a part of the American dream. It’s something that we fantasize about when we’re young, something we scrimp and save for, and quite frankly, something we end up paying for, for the rest of our lives. Aside from the home mortgage, it seems owning a home is more expensive than we thought.
Leaky pipes and infestations are sudden home expenses to watch out for, and maintaining and repairing can prove to be not only a daunting task, but also a very expensive one. There are also other expenses that suddenly pop up, things that we don’t even think.
In order to prepare yourself for the potential expenses in home ownership, below are some of the hidden costs of having a home.
Foreclosures can be a real estate investor’s best friend. This is because most homes that are in foreclosure can sell on the cheap. We bought our very first home as a foreclosure! We got a heck of an deal. I’m not just saying that because we loved the home either.
Foreclosures happen when a homeowner misses out on their mortgage payments and is unable to come up with the money to repay the lender. Most of the time, the lender chooses to foreclose a home when there are several consecutive missed payments and infrequent communication with the borrower. Foreclosure can help the lender minimize losses on the loan.
What do people like Warren buffet, Ingvar Kamprad and the Scions to the Walton family have in common? Well apart from the fact that they all are one of the richest billionaires on the Forbes list, it is their frugality that sets them apart from not only the rest of us common folk, but also their billion dollar peers.
For those of you who are new to the term, frugality is the act of meticulously saving or investing your fortune, rather than spending it on luxury mansions, sports cars, champagne spewing fountains or whatever else money can buy. For now, let us look beyond the immense wealth and covetable lifestyle of these aforementioned people and take a look at the valuable lesson they teach us about frugality and living within our means.
One of the things that investment gurus always emphasize is to diversify, diversify and diversify. Supposedly, diversification will help improve the overall performance of your portfolio since it doesn’t ride on just one investment vehicle. The trouble now is this, with over thousands of stocks, bonds, and mutual funds to choose from, how can we correctly pick the right investment?
Some investors may end up studying different companies that sell stocks in order to choose the best stock picks, but doing so may just be the wrong approach. Instead, an investor should decide on what mix of stocks, bonds and mutual funds you would like to hold. This type of strategy is called asset allocation.
Back in 2007, Forbes Magazine reported that all over the world there are a total of 946 billionaires, and according to Capegemini, a financial consultancy firm, in 2011 there are about 10 million millionaires. All of us probably have this dream of becoming millionaires ourselves, and sometimes we’re left wondering how these once ordinary people manage to make it big.
If prima ballerinas have the characteristics of grace, flexibility and poise, and if football athletes train to be resilient and strong, millionaires also share certain character traits that groom them to become the financial successes that they are today.
Below are ten attributes that are common in most (if not all) millionaires:
You should keep track of your finances. It is as easy as that. Whether you decide to use a pen and paper, a spreadsheet, or an online account aggregator, you should have an idea of how much you are spending and on what. You need to do this in order to spend responsibly, and you need to do it because it helps you to save money, plan ahead, and make good financial decisions.
Yodlee MoneyCenter is a great option when it comes to keeping track of your finances, and here are the top 11 reasons why you should use it. Sub bullet point #1 is because I use it!