The 3 Keys to Financial Independence
Today we are seeing more self made millionaires than ever before. Today it is easier than you might think to accomplish your goals.
From my studies of successful people, my work with different individuals and my own experiences I have found 3 simple keys to financial independence.
• Spend less than you earn
This is so obvious but most people live paycheck to paycheck hoping to win the lottery (even if they don’t buy tickets) without a thought of building their way to financial independence. Read the Rest of This Article »
10 Inspirational Quotes to Apply To Your Finances
EVERYONE likes handy little money-saving tips, but getting control of your finances sometimes takes much bigger ideas.
Why not take these ten inspirational quotes and apply them to your finances?
“Worry, like a rocking chair will give you something to do, but it won’t get you anywhere.” – Vance Havner
Most of us are guilty of worrying about money, and whilst it might be justified in some circumstances, the actual worrying won’t solve any problems – and worse still, it can be bad for your physical and mental health. Read the Rest of This Article »
Distinguishing Between Price and Value
If a book costs $50, is that good value?
Your first response might be “no way!” It seems like a lot of money for a bunch of pages bound together.
If a book costs $2, is that good value?
“Hell, yeah!” That’s a bargain-basement price.
The problem is, the price of those books doesn’t necessarily bear any relation to the value which the books have to you. A textbook packed with useful information for college might be well worth $50. On the other hand, a trashy, badly-written novel might not be worth even $2 – especially when you factor in the time cost of reading it. Read the Rest of This Article »
1 Simple Decision That Gives You Financial Independence
A recent survey showed that 60% of us don’t keep a budget. Close to 20% hasn’t a clue where their money goes each month, yet 43% do spend more each year than they earn. Almost a third pay no attention to interest rates on their credit cards, even while carrying an average debt of $15,000 per household.
How can this head-in-the-sand approach to managing money end in anything other than disaster? Look at our economy over the last two or three years and the answer is obvious: it doesn’t. You can’t ignore the basic laws of economics. You can’t spend more than your take in without paying the consequences. Read the Rest of This Article »
A Foolproof Guide to Avoid Soul Crushing Debt
This guest post was contributed by Jane Sanders, who writes about debt management and other personal finance topics at DebtManagement.net.
“A man in debt is so far a slave” – Ralph Waldo Emerson
One of the greatest hardships a person can face is being burdened by debt. In addition to paying off the original loan, interest (often at extremely high rates) continues to add to the total, making the ultimate pay off far higher than what was borrowed in the first place.
Having debt robs a person of freedom. They can’t leave a job they don’t like to pursue a new career, bad credit often prevents them from buying essentials like a home or a car, and it hangs over them for years, chipping away at the amount they can spend and save. It also creates stress, because someone with a great deal of debt is only one misfortune away from bankruptcy.
Fortunately, debt problems are completely avoidable. All it takes is an understanding of the seriousness of debt and some personal restraint. Read the Rest of This Article »
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