Why is it a bad idea to apply for a subprime loan? What follows is not MY advice, but rather the advice from credit reporting agencies like Experian, and from government watchdog agencies like the Consumer Financial Protection Bureau. I preface today's article with that disclaimer because I want the message to be clear; applying for a subprime loan is something most consumers should think twice about doing. And that is according to the … [Read more...]
Why Weekly Budgeting Is Better Than Monthly
When you think about budgeting, it’s easy to assume that a monthly budget is the best. Is that true? And if not, why not? Is weekly budgeting better than monthly? Some financial advisors say yes, and their reasoning makes a lot of sense. How You Get Paid Counts Are you paid weekly? Bi-weekly? Monthly? A weekly budget can accommodate all these, but those who get paid bi-weekly may notice the most immediate results. When sorting out your … [Read more...]
5 Ways How Experts Monetize Knowledge
What does it mean to monetize knowledge and what are the ways experts earn money from their experience? There are many ways to do this if you know how. And learning how is easier than ever with the advent of so many publications offering to help you do just that. A word of advice; monetizing your knowledge should be done with care. It is illegal to make unsubstantiated health claims, dispense legal advice without the proper state credentials, … [Read more...]
Hierarchy of Savings – What Should Come First?
It can be difficult to establish a hierarchy of savings. What should come first when you are paying yourself? Three basic areas represent parts of your life that need financial attention; your retirement fund, your money set aside for emergencies, and debt repayment. The last one doesn’t sound like you are paying yourself--at first. But debt management is an important part of establishing financial freedom. Emergency Fund: A Savings Account You … [Read more...]
5 Strategies For Increasing Net Worth
Are you looking for strategies for increasing your net worth? You’ll read a lot of blog posts out there purportedly offering “strategies” but then just give you the same old standard advice with absolutely ZERO specifics. One blog I read on the subject, one that specifically used the word “strategies” in the headline, offers pearls of wisdom like this: “It takes more time to make money than to spend it.” But wait, there’s MORE: “...the … [Read more...]