finance http://www.wisebread.com/taxonomy/term/389/all en-US 10 Countries Where Banks Pay Crazy Interest Rates http://www.wisebread.com/10-countries-where-banks-pay-crazy-interest-rates <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-countries-where-banks-pay-crazy-interest-rates" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000074065601.jpg" alt="Countries where banks pay crazy interest rates" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Everyone in America has been waiting to find out when the Federal Reserve will raise interest rates, which have been down at historic lows for some time.</p> <p>Think interest rates in the U.S. are shockingly low? Well, there are other nations with rates that are even more off the wall. Some have rates below zero. Some have rates above 25%. (Imagine that &mdash; 25% returns just for parking your cash in the bank!)</p> <p>Here's a look at the countries with the wackiest <a href="http://www.wisebread.com/banks-still-offering-free-checking-and-great-interest-rates">interest rates</a> &mdash; and if you can figure out a way to get a 25% interest rate on your bank deposits, please let me know!</p> <h2>The High End</h2> <p>Savers in these countries ought to be happy &mdash; or should they?</p> <h3>1. Belarus</h3> <p>Interest rates in this former Soviet republic have always been some of the highest in Europe, but rates really shot up last year when the government jacked them up to fend off a devaluing of the nation's ruble. The benchmark rate in Belarus is a whopping 25%.</p> <h3>2. Ghana</h3> <p>In an effort to fend off inflation, this West African nation rose its benchmark interest rate to just under 25%, one of the highest rates on the continent. Ghana's currency, the cedi, has been plunging in value as the nation has struggled with debt, according to Bloomberg News.</p> <h3>3. Malawi</h3> <p>On the other side of Africa, Malawi also reports a benchmark interest rate of about 25%. In fact, that's been the average rate since 2001, when rates hit as high as 75%. The mortgage finance rate from the National Bank of Malawi is 32%.</p> <h3>4. Argentina</h3> <p>This country has the highest rates in South America, with a benchmark of just under 24%. Rates have been creeping up for years as the country has faced major economic problems, but they are still much lower than in 2002, when rates topped 90%.</p> <h3>5. Ukraine</h3> <p>Interest rates in Ukraine are so wacky that they now stand at 22% even after two rate cuts. Ukraine has battled a devaluing of its currency, the hyrvnia, that once forced interest rates to above 30%, then the highest in the world.</p> <h2>The Low End</h2> <p>In some cases, savers <em>pay </em>banks to hang onto their money.</p> <h3>6. Switzerland</h3> <p>Rates in Switzerland are so low that it may actually cost you money to &quot;save&quot; there. With a rate of -0.75%, the Swiss must pay to lend. This unusual move was made to cause some inflation (in an overly low inflation environment) and prevent the Swiss franc from becoming too overvalued.</p> <h3>7. Denmark</h3> <p>The Danish central bank started off 2015 by slashing interest rates several times, to the point where they are now also at -0.75%. Many Danish citizens now have to <em>pay</em> interest on any bank deposits. This move to crazy-low rates comes as a response to a sagging European economy.</p> <h3>8. Sweden</h3> <p>While not quite as low as Switzerland and Denmark, Sweden is another European nation with a benchmark rate below zero. The Swedes made the move to lower rates to -0.35% in July, citing deflation concerns and the impact of problems with the Greek economy. With borrowing so cheap, now the Swedes have to battle fears of a possible housing bubble.</p> <h3>9. Japan</h3> <p>Japan's central bank has been trying all kinds of things to get the country's economy moving and fend off deflation, and interest rates now stand at... nothing. That's right, interest rates are zero in Japan, and have been near or below 1% for about 20 years.</p> <h3>10. Bulgaria</h3> <p>It's better than zero, but not by much. The benchmark rate from the Bulgarian National Bank is a mere 0.01%. The head of the bank resigned in June following the bankruptcy of one of the nation's largest commercial banks.</p> <p><em>What's worse, high interest rates or rates at zero or below?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <p>&nbsp;</p> <div align="center"><a href="//www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F10-countries-where-banks-pay-crazy-interest-rates&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F10%20Countries%20Where%20Banks%20Pay%20Crazy%20Interest%20Rates.jpg&amp;description=10%20Countries%20Where%20Banks%20Pay%20Crazy%20Interest%20Rates" data-pin-do="buttonPin" data-pin-config="above" data-pin-color="red" data-pin-height="28"><img src="//assets.pinterest.com/images/pidgets/pinit_fg_en_rect_red_28.png" alt="" /></a> </p> <!-- Please call pinit.js only once per page --><!-- Please call pinit.js only once per page --><script type="text/javascript" async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <div align="center">&nbsp;</div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/10%20Countries%20Where%20Banks%20Pay%20Crazy%20Interest%20Rates.jpg" alt="10 Countries Where Banks Pay Crazy Interest Rates" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/10-countries-where-banks-pay-crazy-interest-rates">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-three-interest-rates">The Three Interest Rates</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-benefit-from-rising-interest-rates">How to Benefit From Rising Interest Rates</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/money-to-start-your-business-without-banks-or-saving">Money to start your business--without banks or saving</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-things-you-need-to-know-before-taking-out-a-personal-loan">10 Things You Need to Know Before Taking Out a Personal Loan</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/interest-rates-are-rising-heres-where-to-keep-your-cash">Interest Rates Are Rising: Here&#039;s Where to Keep Your Cash</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Banking borrowing deposits finance interest rates international saving Thu, 15 Oct 2015 13:00:23 +0000 Tim Lemke 1586506 at http://www.wisebread.com 5 Signs You Probably Need an Accountant http://www.wisebread.com/5-signs-you-probably-need-an-accountant <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-signs-you-probably-need-an-accountant" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000021395191.jpg" alt="Woman learning she probably needs an accountant" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Do you dread filing your income taxes each year? Does preparing your taxes take weeks of your time? And once you've sent your papers to the IRS, do you have the sneaking suspicion that you might not have taken all the deductions to which you are entitled?</p> <p>You might need to hire an accountant.</p> <p>&quot;Hiring an accountant depends on whether your knowledge, time, and money are best spent on bookkeeping, loan application, and tax preparation, or whether you have higher priorities,&quot; says Valrie Chambers, associate professor of taxation and accounting at Stetson University in Celebration, Florida. &quot;A business owner who excels at sales should probably use her time increasing sales rather than learning and doing accounting. That strategy is just more profitable for the business.&quot;</p> <p>Here are five signs that you need to hire an accountant.</p> <h2>1. You Owe the Government a Lot of Money Each Year</h2> <p>Taxes become complicated when you work for yourself or run your own business. Depending upon how much you earn, you'll have to pay estimated quarterly tax payments four times every calendar year &mdash; January 15, April 15, June 15, and September 15. These payments are supposed to guarantee that you won't owe the federal and state governments thousands of dollars each year in taxes.</p> <p>But if you find that when you file your income taxes each April 15 you do owe the state and federal government $3,000, $4,000, $6,000, or more, you're doing something wrong. An accountant can help you determine the quarterly tax payments you should be making to ensure that you're not hit with a huge tax bill every April 15.</p> <h2>2. You're Worried That You're Missing Big Deductions</h2> <p>Yes, hiring an accountant takes money. But doing so can also <em>save </em>you money. An accountant can prepare your annual income tax returns to make sure that you're not missing out on any important deductions for your household or your business. Missed deductions can cost you thousands of dollars each year in taxes.</p> <h2>3. It Takes You Days to Complete Your Taxes</h2> <p>Filing your <a href="http://www.wisebread.com/5-clever-tax-shelters-anyone-can-use">income taxes</a> isn't necessarily easy. But it shouldn't be a draining chore, either. If your life has gotten complicated &mdash; maybe you've started your own consulting business on the side, perhaps you've adopted and are struggling to understand how the adoption tax credit works, maybe you're not sure how to deduct the bills for a serious medical procedure &mdash; you can bet that your income taxes have, too.</p> <p>If it is taking you a full week to complete your taxes, it might be time to think about hiring an accountant. You just have to determine how important your time is: Would you rather spend your time earning more money or poring over your tax forms?</p> <h2>4. You Own Rental Real Estate</h2> <p>Renting an apartment or two is a great way to earn passive income. But doing so can also complicate your finances. That's why it makes sense to hire an accountant to make sure that you don't miss any important tax deductions related to rental income, and that you file all the paperwork necessary when working as a landlord.</p> <p>&quot;There comes a point when personal tax software is not sophisticated enough to take into account the complexities of real estate investments,&quot; says David Reiss, professor of law and research director for the Center for Urban Business Entrepreneurship at Brooklyn Law School in New York City. &quot;If a taxpayer has multiple properties that have both a personal and investment component, tax software may not be able to accept all of the relevant inputs and generate the correct output.&quot;</p> <h2>5. You've Never Been Able to Balance Your Checkbook</h2> <p>If you're struggled for years to balance your own checkbook &mdash; if overdraft charges from your bank aren't a rare enough occurrence &mdash; it might be time to invest in an accountant, especially if you've started your own business. It's bad enough to struggle with your personal finances, and you don't want to operate a business that doesn't have its books balanced.</p> <p>Chambers recommends that you meet with several accountants &mdash; she recommends that you only work with Certified Public Accountants (CPAs) &mdash; before hiring one. Ask accountants how long they've been in business, whether they've worked with clients at your income level, how much they charge, and what services they'll provide. Ask, too, for referrals from accountants' current clients.</p> <p>&quot;Meet with the CPA to see if you are comfortable sharing your information with this firm,&quot; Chambers says. &quot;CPAs should be forthcoming about their fees. When they are hired, they normally spell out what they will do for those fees in an engagement letter. Finding an accountant who is right for you is part research, part comfort level.&quot;</p> <p><em>When did you realize that you needed an accountant?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/5-signs-you-probably-need-an-accountant">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/20-amazing-outrageous-and-just-plain-weird-tax-deductions">20 amazing, outrageous and just plain weird tax deductions</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-freelancers-and-side-giggers-need-to-know-about-income-taxes">What Freelancers and Side Giggers Need to Know About Income Taxes</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-common-tax-mistakes-we-need-to-stop-making">5 Common Tax Mistakes We Need to Stop Making</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-to-do-when-your-tax-preparer-makes-a-mistake">What to Do When Your Tax Preparer Makes a Mistake</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-what-to-do-if-you-get-audited">Here&#039;s What to Do If You Get Audited</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Taxes accountants cpas deductions finance income taxes IRS self-employment Tue, 13 Oct 2015 13:00:32 +0000 Dan Rafter 1586108 at http://www.wisebread.com Avoid These 5 Pitfalls When Moving in Together http://www.wisebread.com/avoid-these-5-pitfalls-when-moving-in-together <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/avoid-these-5-pitfalls-when-moving-in-together" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple_fighting_000051175734.jpg" alt="Couple trying to avoid relationship pitfalls when moving in together" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Moving in with the person you love is a huge step! In fact, it's so huge that we get too swept up in the excitement to really look at the gritty details. These are five things you should never do when moving in together.</p> <h2>1. Don't Avoid Organizing Your Stuff Before the Move</h2> <p>This is one of the most useful things you can do to avoid fights about belongings down the line. You must be willing to self-edit (and to help your partner self-edit) before schlepping all your stuff into a new place where it may not all fit. Clean house and decide which items of yours are most important to keep, so you can make room for the new items you'll acquire as a cohabiting couple.</p> <p>Remember these key categories: Keep, Sell, Donate, and Toss. Keep items such as any clothing you have actually worn in the past year, or big ticket furniture items you can't spare. Sell items of some value that are either redundant or no longer needed. Donate items like new clothing you haven't worn in the last year, shoes, books, and anything not worth taking time to <a href="http://www.wisebread.com/the-5-best-things-to-buy-or-sell-on-craigslist">sell on Craigslist</a> or a yard sale. Toss pretty much everything else! Let your partner have a veto option.</p> <h2>2. Don't Reject Your Significant Other's Red Flags</h2> <p>This can range from extremely small to extremely big issues. To some, a loud snore could potentially be a deal breaker; but harboring an addiction to pills could go undetected for years before finally moving in with someone. It comes down to how well you know each other. What are your partner's triggers and soft spots, and will you be able to work around them? </p> <p>For some, a series of talks is all you need to answer questions like, &quot;How will our work schedules mesh?&quot; Or, &quot;Can we share a bedroom or do we need separate spaces as well?&quot; Or, &quot;Who will be in charge of the bills?&quot;</p> <p>There are also elephants in the room that you must address. For example: If your significant other has a child, you will need to be a part of the child's life. Is that something you're ready to do?</p> <p>Another example: If your partner has a disability, how will it affect your responsibilities to them and the home?</p> <p>Maybe you're the one with a lot red flags. Don't react defensively &ndash; deeply consider your partner's needs and decide if they are workable for you. You can't just hope it will all fall into place.</p> <h2>3. Don't Assume Finances Will Work Themselves Out</h2> <p>Finances are the largest source of stress and arguments in every household. Yours will not be an exception. While you're not legally obligated to each other's money, you do need to share some pertinent information with your significant other before you set up your household system. <a href="http://www.wisebread.com/5-life-mistakes-you-need-to-stop-making-by-30">Are you in massive debt</a>? Are you terrible at managing bills?</p> <p>If you're the organized one who has their bills set up on auto-pay, you're probably going to be the one to shepherd the other into a better system. Try setting up an automatic monthly transfer from your partner's bank account to yours to ensure you get their share of the rent and bills on time. Don't think of this as babysitting; think of this as an investment of your time and expertise into avoiding future fights when the lights suddenly get shut-off!</p> <h2>4. Don't Let One Person Do All the Housework</h2> <p>This is a tough one that inevitably happens to most new couples. Whoever gets sick of staring at the unending tower of dirty dishes first is ultimately the one who cleans them. That's not fair, but it's really easy to get stuck into imbalanced patterns like this when living together.</p> <p>Have a discussion, before moving in, about housekeeping equality. Who takes out the trash? Who does the dishes? (Hint: if you don't own a dishwasher, I suggest it's whoever didn't cook the meal.) Who fixes the bookcase when it starts to teeter? These are tasks that have nothing to do with gender or who earns more money. It's usually whoever can do it with the least amount of goading. If neither of you wants to clean, agree to split the cost of a monthly cleaning service and never fight about dusting again.</p> <h2>5. Don't Pretend You're Married</h2> <p>This is a hard one. Many people see shacking up as a stepping stone to marriage, and for many, it is. This is a great time to test each other's willingness to compromise, generosity with belongings, and emotional, sexual, and financial compatibility on an everyday level. This is all invaluable.</p> <p>But it doesn't mean that you're married. Avoid forming unhealthy, codependent habits with him or her. Your stuff doesn't belong to your partner, nor theirs to you. You have a choice in every decision that doesn't necessarily have to include your partner. You can hang in there and try to make a relationship work, but you can always leave if it isn't going well. That's the whole point, isn't it?</p> <p><em>Did you fall into any of these traps when you moved in with a significant other?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Favoid-these-5-pitfalls-when-moving-in-together&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FAvoid%2520These%25205%2520Pitfalls%2520When%2520Moving%2520in%2520Together.jpg&amp;description=Avoid%20These%205%20Pitfalls%20When%20Moving%20in%20Together"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><em><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Avoid%20These%205%20Pitfalls%20When%20Moving%20in%20Together.jpg" alt="Avoid These 5 Pitfalls When Moving in Together" width="250" height="374" /></em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amanda-meadows">Amanda Meadows</a> of <a href="http://www.wisebread.com/avoid-these-5-pitfalls-when-moving-in-together">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-much-life-in-the-big-city-will-cost-you">Here&#039;s How Much Life in the Big City Will Cost You</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/make-these-6-relationship-moves-now-or-youll-regret-it-in-20-years">Make These 6 Relationship Moves Now or You&#039;ll Regret It in 20 Years</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-relationship-rules-you-should-be-breaking">10 Relationship Rules You Should Be Breaking</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-tips-for-balancing-love-and-money">10 Tips for Balancing Love and Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/fixing-mistakes-7-steps-for-any-situation">Fixing Mistakes: 7 Steps for Any Situation</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Personal Development Dating finance housing living arrangements moving moving in relationships Mon, 12 Oct 2015 17:00:44 +0000 Amanda Meadows 1586180 at http://www.wisebread.com 5 Life Mistakes You Need to Stop Making by 30 http://www.wisebread.com/5-life-mistakes-you-need-to-stop-making-by-30 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-life-mistakes-you-need-to-stop-making-by-30" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000047196720.jpg" alt="Couple learning life mistakes to stop making by 30" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Thinking about the big 30th birthday benchmark? I certainly am! Some habits we get away with in our 20s are not so flattering later in life. Here are the five things you need to <a href="http://www.wisebread.com/5-financial-mistakes-you-need-to-stop-making-by-30">stop doing by age 30</a>.</p> <h2>1. Maxing Out Credit Cards</h2> <p>When you got that first credit card fresh out of high school, you thought, whoa, $500 is so much money! A few weeks later, you learned how few dollars that really was, and by then you were maxed out. It's a lesson that we would ideally learn once, pay it down, and move on, but many of us don't. Start learning <a href="http://www.wisebread.com/oops-i-maxed-out-my-credit-cards-now-what">how to manage your debt</a> and resolve to keep a balance of no more than 20%&ndash;30% of your credit limit.</p> <h2>2. Avoiding Doctors</h2> <p>When you're 23, you still boast a high metabolism and strong immune system, so you can't possibly get sick, right? This is a lie every young person believes throughout their 20s to get out of paying for health care. Whether you get into a car accident or you need to treat certain communicable diseases, you need a doctor. Thanks to the Affordable Care Act and the limited benefits some employers offer, it's easier than ever to find a low-cost plan that will cover you in case of an emergency. If you're a lucky person who's still under his/her parents' plan, use it before you lose it! Here's how to <a href="http://www.wisebread.com/simple-ways-to-get-the-healthcare-you-need-without-overspending">get the care you need</a> without spending too much.</p> <h2>3. Keeping All Funds in One Account</h2> <p>When you first start out as an adult, banking is something you do when you absolutely need to: paying bills, making transfers, informing the bank you lost your debit card at a bar again. Direct deposit dumps your check into the checking account, and so it stays there &mdash; until you drain it dry three days before payday. Start thinking about your other banking options. Tweak that direct deposit to send 10% of your checks to you savings account, and don't touch it. Afraid you will touch it anyway? <a href="http://www.wisebread.com/the-5-best-high-yield-cds">Look into CDs</a> (certificates of deposit) and mutual funds as a way to make a fraction of your earned income grow over time. This can work as your emergency fund or a nest egg for later.</p> <h2>4. Getting Sucked Into Your Phone</h2> <p>This is hard for Millennials. On one hand, we want to <a href="http://www.wisebread.com/why-i-like-my-flip-phone-the-5-smartphone-effects">use our phones</a> a lot because all our stuff is there! On the other hand, it causes a big social rift between us and elder generations &mdash; including the Gen Xers and Boomers, who are still mostly in charge of hiring us for jobs. This means you must have an &quot;offline mode&quot; switch: Know when you're in the clear to play Neko Atsume on your iPhone, and know when it's time to silence the phone and keep it stowed away (not on the table face-up). It's not only to appease our parents; it's also to help us be more human by staying present to others in real time and charming to be around.</p> <h2>5. Putting Off Your Education</h2> <p>Around 40% of college enrollees (both community and university) end up dropping out before earning a degree, and that's only of those who actually apply and enroll to a college &mdash; most people in the U.S. do not have a college degree. Think about that if you are struggling to scrape together enough to live on your own comfortably &mdash; the bottom rung is too crowded. College is still indisputably the key to success, <a href="http://www.wisebread.com/5-college-degrees-with-the-highest-roi">especially for these majors</a>. If you're still putting off that degree to jumpstart your career, now is the time. Make your 30s an age of well-earned prosperity.</p> <p><em>What habits will you finally break when you turn 30?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amanda-meadows">Amanda Meadows</a> of <a href="http://www.wisebread.com/5-life-mistakes-you-need-to-stop-making-by-30">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-things-successful-30-somethings-do">9 Things Successful 30-Somethings Do</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-go-to-college-to-learn">Don&#039;t Go to College to Learn</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-surprising-ways-a-college-education-will-improve-your-life">10 Surprising Ways a College Education Will Improve Your Life</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-goals-all-30-somethings-should-have">10 Money Goals All 30-Somethings Should Have</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-things-to-stop-doing-on-social-media-by-30">10 Things to Stop Doing on Social Media by 30</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Life Hacks 30s education finance Health job security millennials smartphones Thu, 13 Aug 2015 11:00:30 +0000 Amanda Meadows 1521832 at http://www.wisebread.com 5 Best Websites to Help You Retire Early http://www.wisebread.com/5-best-websites-to-help-you-retire-early <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-best-websites-to-help-you-retire-early" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_busy_at_work_000029166448.jpg" alt="Woman using best websites for retiring early" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You've likely heard dire warnings that many Americans may never be able to retire at their current level of meager savings. But you can beat these odds and even retire early if you structure your life and finances properly. And the sound (though sometimes quirky) suggestions of online <a href="http://www.wisebread.com/6-retirement-rules-you-should-be-breaking">early retirement</a> sensations like Mr. Money Mustache can help you get there.</p> <p>If you're interested in achieving financial freedom and independent wealth at an early age, check out his website and these four other early retirement blog favorites.</p> <h2>1. Mr. Money Mustache</h2> <p>An aggressive saver and index-fund investor, Pete, aka <a href="http://www.mrmoneymustache.com/">Mr. Money Mustache</a>, and his wife retired in 2005 while in their <em>30s</em>. Frustrated with questions about his money-saving techniques, he decided to share his knowledge through his website.</p> <p>Mr. Money Mustache dissects the rationale and habits of early retirees, fights against hyper-consumption, and advances the early retirement lifestyle. He doesn't mind being viewed as different or even controversial as evidenced by articles such as &quot;What Does Your Work Truck Say About You?,&quot; &quot;Chasing Electrical Demons to Cut Your Power Bill by 80%,&quot; and &quot;Great News: You're Allowed to Have Only One Kid!&quot;</p> <p>As a (tongue-in-cheek) cult leader, he has assembled a significant number of members who bond to his fanaticism for achieving &quot;Financial Freedom Through Badassity.&quot; Learn from fellow &quot;mustachians&quot; by posing questions and exploring collective wisdom in his forum, one of the most valuable sections of this website.</p> <h2>2. FinancialMentor</h2> <p>Former hedge fund investment manager turned financial coach Todd R. Tresidder offers a wealth of resources for aspiring early retirees at <a href="http://financialmentor.com/">FinancialMentor</a>. Todd lived simply and invested smartly in his youth while working in the financial services industry, achieving millionaire status and retiring at age 35.</p> <p>Today, Todd enjoys financial freedom while mentoring others along a path of accumulating wealth, developing multiple streams of income, and experiencing the personal transformation that happens as a result of financial independence. His website contains free resources, which include retirement calculators, articles like &quot;12 Tips to Build Wealth for Early Retirement,&quot; and podcasts with financial and retirement experts, such as <a href="http://financialmentor.com/podcast/automatic-income/10653">Wade Pfau</a>, PhD, CFA, and Professor of Retirement Income with the American College of Financial Services.</p> <p>You can also discover paid resources through the site, such as Todd's 60 Minute Financial Solutions book series that includes <a href="http://www.amazon.com/gp/product/B0093CPJ9S/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B0093CPJ9S&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=DKZ5EHDTZ3MG2YLL">How Much Do I Need to Retire?</a></p> <p>Todd breaks down and simplifies complex financial topics, and, when appropriate, disavows conventional wisdom. Further, he provides you with actionable steps to achieve financial freedom focused largely on securities investing.</p> <h2>3. The Military Guide</h2> <p>Retired veteran and the author of <a href="http://www.amazon.com/gp/product/1570233195/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=1570233195&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=H2GDKWHKW2AHVODI">The Military Guide to Financial Independence and Retirement</a>, Doug Nordman offers finance-related insights for the unique needs of the military community at&nbsp;<a href="http://the-military-guide.com/">The Military Guide</a> website. Doug opted for early retirement after 20 years of active service, passing up the opportunity for a bridge career involving transition to the civilian workforce.</p> <p>In his blog, Doug confesses that he made lots of mistakes in his personal financial life. Nevertheless, diligent and consistent savings, along with a military pension, allowed him to retire early. Today, he spends time surfing in Hawaii, traveling, writing, and promoting his book (royalties benefit military charities).</p> <p>His engaging and self-deprecating style allows you to learn from his experiences, as evidenced in &quot;How to Get Kicked Out of Tricare&quot; (military health care program). You can also gain knowledge to make informed decisions by considering pros and cons of various retirement-related paths through articles such as &quot;Stay for 30 or Retire at 27?&quot; which references years of service, not years of living.</p> <h2>4. Afford Anything</h2> <p>In the midst of a successful but unfulfilling career in journalism, Paula Pant decided to pursue personal and professional interests on her own terms. She became financially independent at age 30 by parlaying profits from a writing and marketing firm into $1 million worth of real estate investments, which generate passive income that sustains her lifestyle.</p> <p>At the&nbsp;<a href="http://affordanything.com/">Afford Anything</a> website, Paula writes about her business ventures and life adventures. She encourages readers to develop sources of passive income based on their strengths and interests. However, she focuses on her experiences in real estate. You can read about entering the vacation rental business as an AirBnB host, plus find guidance on buying and managing rental properties through articles such as determining if a house is a good investment.</p> <p>At her website, affording anything (though not everything) is emphasized, not necessarily early retirement. However, those who are interested in retiring before 65 should find both inspiration and instruction to become financially free as early as possible.</p> <h2>5. Go Curry Cracker</h2> <p>Supersavers and married couple Winnie and Jeremy explore the world while educating readers on the financial and location independent lifestyle through their blog, <a href="http://www.gocurrycracker.com/">Go Curry Cracker</a>. They saved more than 70% of their income for 10 years while working in traditional jobs. During this time, they built an investment portfolio that generates income for their expenses.</p> <p>At the website, you'll find tips on optimizing your tax situation (including techniques for harvesting capital gains in order to increase the cost basis of your holdings, positioning you for lower taxes in the future) and limiting your fixed expenses through techniques such as car-free living. Mainly, though, you'll get inspiration for aggressively and wisely managing your financial situation so you can enjoy your days in early retirement.</p> <p>Retiring early may be within your reach. Visit these websites to learn how to live and spend intentionally, invest wisely, avoid wealth-robbing pitfalls, and enjoy life before and during retirement.</p> <p><em>Which other early retirement online resources do you read and recommend?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F5-best-websites-to-help-you-retire-early&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F5%2520Best%2520Websites%2520to%2520Help%2520You%2520Retire%2520Early.jpg&amp;description=5%20Best%20Websites%20to%20Help%20You%20Retire%20Early"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/5%20Best%20Websites%20to%20Help%20You%20Retire%20Early.jpg" alt="5 Best Websites to Help You Retire Early" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/julie-rains">Julie Rains</a> of <a href="http://www.wisebread.com/5-best-websites-to-help-you-retire-early">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-6-best-financial-news-sites-for-investors-in-a-hurry">The 6 Best Financial News Sites for Investors in a Hurry</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/i-am-doing-well-financially-now-what">I Am Doing Well Financially. Now What?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-things-financial-advisers-wish-you-knew-about-retirement">7 Things Financial Advisers Wish You Knew About Retirement</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-money-mistakes-to-stop-making-by-50">5 Money Mistakes to Stop Making by 50</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-sep-ira-is-how-the-self-employed-do-retirement-like-a-boss">The SEP-IRA Is How the Self-Employed Do Retirement Like a BOSS</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Retirement advice blogs finance retiring early savings websites Fri, 26 Jun 2015 11:00:10 +0000 Julie Rains 1463020 at http://www.wisebread.com 3 Pearls of Financial Wisdom From Alan Greenspan http://www.wisebread.com/3-pearls-of-financial-wisdom-from-alan-greenspan <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/3-pearls-of-financial-wisdom-from-alan-greenspan" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/Alan_greenspan_000018959048.jpg" alt="Alan Greenspan sharing pearls of financial wisdom" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Known as the Oracle, Alan Greenspan is one of the most widely respected Federal Chairmen of all time due to both his economic knowledge and political savvy.</p> <p>A familiar face throughout two decades of U.S. history, Greenspan is the second-longest serving Federal Reserve Chairman (1987&ndash;2006), just four months behind the top spot. Throughout his long tenure in public service and his prolific career in economic consulting, he accumulated a thorough understanding of how markets work.</p> <p>Here are the three best <a href="http://www.wisebread.com/the-5-best-pieces-of-financial-wisdom-from-warren-buffett">pearls of financial wisdom</a> from Alan Greenspan.</p> <h2>1. Beware &quot;Home Bias&quot; in Investments</h2> <p>In his memoir <a href="http://www.amazon.com/gp/product/0143114166/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=0143114166&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=NT6Q75GRUYLG7HXO">The Age of Turbulence</a>, Greenspan warns investors about their tendency to invest their savings in their home country, even though this could mean passing up more profitable foreign opportunities.</p> <p>The problem with having a narrow geographical scope for your investment portfolio is that you may undervalue its actual risk. &quot;When people are familiar with an investment environment, they perceive less risk than they do for objectively comparable investments in distant, less familiar environs,&quot; he points out in his book.</p> <p>Diversification is key in order to spread out and minimize your investment risk. Just like you wouldn't put your entire nest egg in a single stock, you shouldn't limit your investments only to the U.S. economy. By including exposure to both domestic and foreign markets, you may be able to ride out bumps in the U.S. economy with price gains in foreign markets, and vice versa.</p> <p>To keep transaction costs predictable and reduce special risks in international investing, such as currency exchange rates, political events, and different market operations, the SEC suggests you consider the following <a href="http://www.sec.gov/investor/pubs/ininvest.htm">foreign investment options</a>:</p> <ul> <li>Mutual funds, such as global funds, international index funds, and regional/country funds;<br /> &nbsp;</li> <li>Exchange-traded funds, which unlike an international index mutual fund, trade on a stock exchange;<br /> &nbsp;</li> <li>American depositary receipts, which are certificates issued by U.S depositary banks providing ownership interest in foreign corporations;<br /> &nbsp;</li> <li>U.S. traded foreign stocks, such as Canadian (e.g. <a href="http://finance.yahoo.com/q?d=t&amp;s=BMO">NYSE:BMO</a>) or Chinese stocks (e.g. <a href="http://finance.yahoo.com/q?s=BIDU">NASDAQ:BIDU</a>).</li> </ul> <p>Consult with your financial planner or retirement plan administrator to find out more details about your options in foreign investments and to determine whether or not those options make sense for your portfolio.</p> <h2>2. Keep &quot;Irrational Exuberance&quot; in Check</h2> <p>You can't talk about Alan Greenspan without touching on the topic of &quot;irrational exuberance.&quot;</p> <p>He coined this term during his keynote address &quot;The Challenge of Central Banking in a Democratic Society&quot; at the American Enterprise Institute's annual dinner in December 1996. Greenspan prepared a pretty dense speech and he wasn't sure what part of it would make the news. The day after his speech the media focused on this bit, &quot;How do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions?&quot;</p> <p>For the average investor, the main takeaway is that we have to leave emotions out of investing. When you can't support your investment decisions through cold hard numbers or market fundamentals, then you become a victim of an investment bubble of your own creation. Unsustainable investor enthusiasm often takes place during periods of economic boom. For example, Forbes has called 2015 the &quot;age of unicorns&quot; because there are more than 80 startups with $1 billion or higher market valuation.</p> <p>When it comes to investing you have to do your due diligence, you can't just wing it or play it by ear.</p> <p>Greenspan believes that the best way to keep irrational exuberance in check is to study the history of financial markets and learn from the experience of past generations. Improving your financial literacy is a common suggestion from past chairs of the Federal Reserve because &quot;Bearnanke&quot; also stands behind that recommendation. (See also: <a href="http://www.wisebread.com/the-5-best-pieces-of-financial-wisdom-from-ben-bernanke?ref=seealso">The 5 Best Pieces of Financial Wisdom From Ben Bernanke</a>)</p> <h2>3. Hold Stocks Beyond Your &quot;Sleeping Point&quot;</h2> <p>Given that Warren Buffett is not only one of history's most successful investors but also one of his dearest friends, Greenspan pays close attention to the investing lessons from the <em>Oracle of Omaha</em>.</p> <p>In <em>The Age of Turbulence</em>, Greenspan points out that Buffett's favorite holding period is <em>forever</em>. The main reason is that several studies have pointed out the historical average market return of 8.5%. Many investors miss out on that potential return because they sell their positions in times of recession for purely emotional reasons.</p> <p>&quot;The market pays a premium to those willing to endure the angst of watching their net worth fluctuate beyond what Wall Streeters call the 'sleeping point,'&quot; writes Greenspan. There are many valid reasons to sell your stocks, such as rebalancing your portfolio back to its target asset allocations or materializing losses to offset big income gains for tax purposes.</p> <p>However, selling down to the sleeping point &mdash; taking only the risk that still allows you to sleep at night &mdash; shouldn't be relied on to emotionally nix your stocks. Take a cue from both Greenspan and Buffet and remember that the well-documented higher rate of return of equities, even adjusted for risk, exceeds that of alternative investments, provided you're willing to buy and hold stocks for the very long run.</p> <p>Investing can feel sometimes as the most unpredictable thing in the world. &quot;Markets do very weird things because it reacts to how people behave, and sometimes people are a little screwy,&quot; warns Greenspan.</p> <p>By having an understanding of the concepts of home bias, irrational exuberance, and sleeping point, you're better equipped to keep a methodical investment strategy.</p> <p><em>What are other great pearls of financial wisdom from Alan Greenspan?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/damian-davila">Damian Davila</a> of <a href="http://www.wisebread.com/3-pearls-of-financial-wisdom-from-alan-greenspan">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-investing-tips-you-wish-you-could-tell-your-younger-self">11 Investing Tips You Wish You Could Tell Your Younger Self</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-surprising-truth-of-investing-mediocre-advice-is-best">The Surprising Truth of Investing: Mediocre Advice Is Best</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-3-rules-every-mediocre-investor-must-know">The 3 Rules Every Mediocre Investor Must Know</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-essentials-for-building-a-profitable-portfolio">5 Essentials for Building a Profitable Portfolio</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-money-moves-to-make-before-you-start-investing">8 Money Moves to Make Before You Start Investing</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Investment advice alan greenspan bias finance sleeping point Mon, 22 Jun 2015 13:01:11 +0000 Damian Davila 1460512 at http://www.wisebread.com Best Money Tips: How to Be Invincible http://www.wisebread.com/best-money-tips-how-to-be-invincible <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-how-to-be-invincible" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/happy-couple-bills-85500591-small.jpg" alt="happy couple bills" title="happy couple bills" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some amazing articles on how to be invincible, cutting the cost of beauty products, and ways to attract money to you.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.budgetsaresexy.com/2014/09/how-to-be-financially-invincible/">How to Be Invincible</a> &mdash; If you want to be financially invincible, have a fully stocked emergency fund and have extra cash in your checking account. [Budgets Are Sexy]</p> <p><a href="http://www.stretcher.com/stories/08/08sep29d.cfm?slider">7 Ways to Cut the Cost of Beauty Products</a> &mdash; To save on beauty products, don't wash your hair every day and give yourself a manicure or pedicure. [TheDollarStretcher.com]</p> <p><a href="http://www.lifehack.org/articles/money/7-simple-ways-attract-money-you.html">7 Simple Ways to Attract Money to You</a> &mdash; Learning from successful people can help you attract more money. [Lifehack]</p> <p><a href="http://www.goodfinancialcents.com/roth-ira-conversion-tax-rules/">The Ultimate Roth IRA Conversion Guide &mdash; Everything You Need to Know</a> &mdash; Did you know there are three different ways that you can roll over a Traditional IRA into a Roth IRA? [Good Financial Cents]</p> <p><a href="http://yoprowealth.com/7-people-who-are-always-broke/">7 People Who Are Always Broke</a> &mdash; People who don't pay their bills on time and try to keep up with others tend to end up broke. [YoPro Wealth]</p> <h2>Other Essential Reading</h2> <p><a href="http://microblogger.com/what-should-i-blog-about/">What Should I Blog About?</a> &mdash; If you are thinking about starting a blog, think about whether or not you could write 100 blog posts on the topic you are considering blogging about. [Microblogger]</p> <p><a href="http://www.consumerismcommentary.com/how-do-you-determine-your-houses-value/">How Do You Determine Your House's Value?</a> &mdash; When trying to determine the value of your home, check out Zillow for assistance! [Consumerism Commentary]</p> <p><a href="http://www.popsugar.com/smart-living/Uses-Balloons-31135985">23 Amazing Ways to Use Balloons</a> &mdash; Have you ever used balloons to make chocolate cups? [PopSugar Smart Living]</p> <p><a href="http://studenomics.com/key-concepts/the-most-dangerous-habit/">The Most Dangerous Habit That's Ruining Your 20s (and How to Fix it Today!)</a> &mdash; Not following through on your plans and goals is one of the most dangerous habits you can develop. [Studenomics]</p> <p><a href="http://parentingsquad.com/9-ways-to-help-fight-cancer">9 Ways to Help Fight Cancer</a> &mdash; To help fight cancer, volunteer or make a donation. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-how-to-be-invincible">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-financial-lessons-from-breaking-bad">7 Financial Lessons From Breaking Bad</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/california-first-lady-maria-shriver-talks-to-us-about-help-for-families-in-tough-times">California First Lady Maria Shriver Talks to Us About Help for Families in Tough Times</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/afraid-yet-smitten-you-havent-heard-of-violent-acres-yet">Afraid, Yet Smitten - You Haven&#039;t Heard of Violent Acres Yet?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/queercents-com-financial-tips-from-a-queer-perspective">Queercents.com - Financial Tips from a Queer Perspective</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-the-economic-crisis-challenges-our-financial-beliefs">How The Economic Crisis Challenges Our Financial Beliefs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips finance invincible Thu, 02 Oct 2014 19:00:06 +0000 Ashley Jacobs 1225446 at http://www.wisebread.com Best Money Tips: Financial Tips From Dad http://www.wisebread.com/best-money-tips-financial-tips-from-dad <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-financial-tips-from-dad" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/father-money-121617883-small.jpg" alt="father money" title="father money" class="imagecache imagecache-250w" width="250" height="151" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some amazing articles on financial tips from dad, managing your money in retirement, and financial goals everyone should strive for.</p> <h2>Top 5 Articles</h2> <p><a href="https://www.mint.com/blog/saving/50752-0614/">Father Knows Best &mdash; Financial Tips From Dad</a> &mdash; Did your dad teach you that money can't buy happiness? [MintLife Blog]</p> <p><a href="http://www.freemoneyfinance.com/2014/06/nine-steps-to-manage-your-money-in-retirement.html">9 Steps to Manage Your Money in Retirement</a> &mdash; To manage your money in retirement, maintain at least a year of cash and rebalance to stay aligned with your goals. [Free Money Finance]</p> <p><a href="http://lenpenzo.com/blog/id25534-seven-basic-financial-goals-everyone-should-strive-for.html">Seven Basic Financial Goals Everyone Should Strive For</a> &mdash; Diversifying your investments and saving every month are just a couple finance goals you should be working towards. [Len Penzo dot Com]</p> <p><a href="http://www.getrichslowly.org/blog/2014/06/11/becoming-friends-with-your-future-self/">Becoming Friends With Your Future Self</a> &mdash; Automating your savings and living within your means are two things you can do that you will thank yourself for in the future. [Get Rich Slowly]</p> <p><a href="http://www.threethriftyguys.com/2014/06/ways-to-save-by-waiting-til-the-last-minute/">5 Ways You Can Save More By Waiting Until the Last Minute</a> &mdash; If there is a sporting event you want to go to, you can oftentimes find tickets at a reduced price if you wait until the last minute to purchase them. [Three Thrifty Guys]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.cashthechecks.com/top-5-ways-to-earn-extra-household-income/">Top 5 Ways to Earn Extra Household Income</a> &mdash; To earn extra income, create an ebook or be an online tutor. [Cash the Checks]</p> <p><a href="http://www.fivecentnickel.com/2014/06/11/is-the-american-dream-dead/">Is the American Dream Dead?</a> &mdash; Reseting your expectations can help you combat the change in the American Dream. [Five Cent Nickel]</p> <p><a href="http://www.savvysugar.com/Things-I-Wish-I-Knew-My-20s-34820923">19 Things I Wish Someone Had Told Me In My 20s</a> &mdash; In your 20s, it's important to be an adult and make a monthly budget. [POPSUGAR Smart Living]</p> <p><a href="http://parentingsquad.com/how-to-fight-summer-learning-loss-0">How to Fight Summer Learning Loss</a> &mdash; Did you know that over the summer most students will lose about 2 months worth of grade level math skills? [Parenting Squad]</p> <p><a href="http://www.mainstreet.com/article/career/work/life-balance/best-ways-get-your-employees-outside-summer">Best Ways to Get Your Employees Outside This Summer</a> &mdash; If you want to get your employees outside this summer, try scheduling meetings outside. [MainStreet]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-financial-tips-from-dad">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-times-dad-was-right-about-money">5 Times Dad Was Right About Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/wisdom-from-my-favorite-frugal-tv-character-julius-rock">Wisdom from My Favorite Frugal TV Character - Julius Rock</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-financial-basics-every-new-grad-should-know">The Financial Basics Every New Grad Should Know</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-lessons-i-learned-from-dad">10 Money Lessons I Learned From Dad</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chinese-proverbs-about-money-and-personal-finance">Chinese Proverbs About Money and Personal Finance</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips dad father Father's Day finance tips Fri, 13 Jun 2014 17:00:19 +0000 Ashley Jacobs 1142648 at http://www.wisebread.com Best Money Tips: Financial Lessons from "Godzilla" http://www.wisebread.com/best-money-tips-financial-lessons-from-godzilla <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-financial-lessons-from-godzilla" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/movie-187095695.jpg" alt="movie" title="movie" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some amazing articles on financial lessons from &quot;Godzilla,&quot; avoiding getting ripped off by a vacation rental, and things to buy at Whole Foods.</p> <h2>Top 5 Articles</h2> <p><a href="http://donnafreedman.com/2014/05/21/6-financial-lessons-from-godzilla/">6 financial lessons from &quot;Godzilla&quot;</a> &mdash; Godzilla can teach you that having life insurance and creating a paper trail are important. [Donna Freedman]</p> <p><a href="http://www.moneytalksnews.com/2014/05/22/7-tips-to-avoid-getting-ripped-off-by-a-vacation-rental/">7 Tips to Avoid Getting Ripped Off by a Vacation Rental</a> &mdash; Looking for reviews and asking for references can help you avoid getting ripped off by vacation rentals. [Money Talks News]</p> <p><a href="http://kiplinger.com/article/spending/T050-C011-S001-best-things-to-buy-at-whole-foods.html">Best Things to Buy at Whole Foods</a> &mdash; Organic coconut oil and organic maple syrup are just a couple great things to buy at Whole Foods. [Kiplinger]</p> <p><a href="http://www.savvysugar.com/How-Minimize-Costs-Bridesmaids-23010667">Ways to Make Wedding Details More Budget-Friendly For Your Bridesmaids</a> &mdash; To minimize costs for your bridesmaids, request time instead of gifts. [PopSugar Smart Living]</p> <p><a href="http://onecentatatime.com/pros-and-cons-of-online-job-hunting/">Pros and Cons of Online Job Hunting</a> &mdash; Online job hunting tends to make it easier to submit a resume. [One Cent at a Time]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.smartasset.com/blog/personal-finance/top-4-tricks-to-stick-to-your-budget/">Top 4 Tricks to Stick to Your Budget</a> &mdash; To stick to your budget, start small and define your goals. [SmartAsset Blog]</p> <p><a href="http://blog.readyforzero.com/twelve-ways-to-take-a-bite-out-of-restaurant-spending/">12 Ways to Take the Bite Out of Your Restaurant Spending</a> &mdash; Getting social and redeeming coupons can take the bite out of your restaurant spending. [ReadyforZero Blog]</p> <p><a href="http://www.creditsesame.com/blog/5-ways-maximize-credit-card-rewards-summer-travel/">5 Ways to Maximize Credit Card Rewards on Summer Travel</a> &mdash; Joining travel loyalty programs can help you maximize credit card rewards on summer travel. [Credit Sesame]</p> <p><a href="http://narrowbridge.net/should-you-diy/">Should You DIY?</a> &mdash; One thing you should take into consideration is whether or not it is more important to save time or money when you are thinking about DIY projects. [NarrowBridge Finance]</p> <p><a href="http://parentingsquad.com/is-your-childs-crib-dangerous">Is Your Child's Crib Dangerous?</a> &mdash; Buying a crib without the drop-side option may be your safest bet. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-financial-lessons-from-godzilla">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-financial-lessons-from-breaking-bad">7 Financial Lessons From Breaking Bad</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/california-first-lady-maria-shriver-talks-to-us-about-help-for-families-in-tough-times">California First Lady Maria Shriver Talks to Us About Help for Families in Tough Times</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/afraid-yet-smitten-you-havent-heard-of-violent-acres-yet">Afraid, Yet Smitten - You Haven&#039;t Heard of Violent Acres Yet?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/queercents-com-financial-tips-from-a-queer-perspective">Queercents.com - Financial Tips from a Queer Perspective</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-the-economic-crisis-challenges-our-financial-beliefs">How The Economic Crisis Challenges Our Financial Beliefs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips finance Godzilla Mon, 26 May 2014 09:00:23 +0000 Ashley Jacobs 1140318 at http://www.wisebread.com Say No! 7 Reasons Why You Shouldn't Get Married if You're in Debt http://www.wisebread.com/say-no-7-reasons-why-you-shouldnt-get-married-if-youre-in-debt <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/say-no-7-reasons-why-you-shouldnt-get-married-if-youre-in-debt" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/finances-dv1054008.jpg" alt="stressed couple" title="stressed couple" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Few things in life bring as much joy as an impending engagement and marriage. The anticipation, the planning, the celebration &mdash; the promise of marriage &mdash; bring out the very best in friends and family. But for young couples in debt, that promise can be soured by the realities. If marriage is part of your short-term plans, here are seven reasons to avoid tying the knot until you're both debt-free. (See also: <a href="http://www.wisebread.com/happily-ever-after-how-to-stay-married-for-29-years-and-counting?ref=seealso">How to Stay Married for 29 Years and Counting</a>)</p> <h2>1. Debt Is Stressful</h2> <p>Though the realities of marriage are often clouded by the rosy blush of love, the logistics of partnership can often be a challenge, especially for younger couples. Sharing a space, building relationships with in-laws, and managing new demands on your schedule can be stressful at times. Why add to it by bringing a load of debt into the marriage too?</p> <p>According to the results of a survey conducted by The American Institute of CPAs, <a href="http://www.aicpa.org/press/pressreleases/2012/pages/finances-causing-rifts-for-american-couples.aspx">money is the number one topic that couples fight about</a>. Money conflicts outrank fights about kids, career, household chores &mdash; even sex. With eye-opening insights like this, getting off on the right foot financially is a big step in the right direction.</p> <h2>2. Weddings Are Expensive</h2> <p><a href="http://www.slate.com/articles/life/weddings/2013/06/average_wedding_cost_published_numbers_on_the_price_of_a_wedding_are_totally.single.html">The median price of a wedding in 2012 was $18,086</a>. That means that 50% of couples in the U.S. spent more that $18,086 on their weddings and 50% spent less. Faced with those numbers, being debt-free in all other financial areas, can help couples save for their wedding and avoid tapping a line of credit just to say &quot;I do.&quot; (See also: <a href="http://www.wisebread.com/how-to-shave-5000-off-your-wedding-expenses?ref=seealso">How to Save $5000 on Your Wedding</a>)</p> <h2>3. Marriage Takes Money</h2> <p>Don't assume combining households will always be a money-saving move. After the florist is paid, a piece of the wedding cake is frozen, and the thank-you notes sent, your expenses as newlyweds are just beginning. You'll probably need a larger apartment or want to purchase a starter home, be tempted to buy a few key pieces of new furniture, become more social with other couples, or need another car for separate commutes. And it all takes money. Couples who are in the best position at the start of their marriage realize this beforehand, erase their debt, and are ready to invest in their future from day one. (See also: <a href="http://www.wisebread.com/9-costly-things-new-homeowners-dont-prepare-for?ref=seealso">9 Expensive Things New Homeowners Don&rsquo;t Prepare For</a>)</p> <h2>4. Babies Happen</h2> <p>In spite of our best intentions and most meticulous family planning efforts, sometimes babies just happen. And though these new additions to our world are wonderful surprises, they carry a host of new expenses and financial obligations. From diapers to formula and from childcare to clothes, those little bundles of joy cost a bundle, too. Couples who choose to marry only after they are debt-free are much more prepared to handle whatever the world throws (or the stork drops) their way. And as with any partnership, that kind of positive beginning can sometimes make all the difference in the world. (See also: <a href="http://www.wisebread.com/what-it-costs-to-raise-a-child?ref=seealso">How Much Does It Cost to Raise a Child?</a>)</p> <h2>5. Debt Can Be a Sign of Deeper Issues</h2> <p>Not all debt is created equal. Some debts are the result of circumstances beyond our control; a sudden job loss, health problems not covered by insurance, and other emergencies can put us in the red in short order. Other debt is strategic and constructive; taking out a loan to invest in property or to get a specialized education to qualify for career advancement usually makes perfect sense.</p> <p>But chronic debt can be an signal of deeper issues like <a href="http://www.debtorsanonymous.org/help/signs.htm">compulsive behavior</a>, lack of fundamental fiscal understanding, or misaligned goals. It's important to understand how you or your partner's debt originated, how you each feel about it, and what each of you intends to do about it. Without this basic information, it's impossible to know if your marriage will be a new beginning or the start of a lifetime of debt servitude and financial struggle. (See also: <a href="http://www.wisebread.com/5-questions-couples-should-ask-in-the-money-talk?ref=seealso">5 Money Questions That Couples Should Ask</a>)</p> <h2>6. Debt Is Shared</h2> <p>Any debt held before marriage is the responsibility of the individual who incurred it. But since most couples typically combine accounts and share expenses, old debt has a way of draining new budgets almost immediately. Over time, paying down our partner's debt can build resentment and replace marital bliss with marital stress.</p> <h2>7. Debt Is a Lasso</h2> <p>At the risk of sounding cynical, I have to include this important reality: Sometimes marriages don't work out. Every couple hopes to defy <a href="http://www.cdc.gov/nchs/fastats/divorce.htm">divorce rate statistics</a> when they walk down the aisle, but often in spite of their best intentions and efforts, it's necessary to part ways. Though debt shouldn't prevent a divorce, it often does. Heavy financial burdens and debt can be a lasso that keeps couples tied together and stuck in unhealthy relationships for years. It sounds starkly pragmatic, but it's true: Being debt-free before marriage (and working to avoid high-interest consumer debt during marriage), can make transitions like legal separation and divorce much easier. (See also: <a href="http://www.wisebread.com/post-divorce-finances-7-steps-to-rebuilding-your-financial-house?ref=seealso">How to Rebuild Your Financial House After a Divorce</a>)</p> <p>Granted, money might not seem like the most romantic topic, but it's an essential one for couples to discuss thoroughly. Paying off debt, getting on the same page financially, and establishing clear and common goals for the future can help set you and your significant other up for a lifetime of success. And when you think about it, isn't that pretty romantic after all?</p> <p><em>Were you in debt when you married? What advice do you have for young couples trying to pay off debt before their big day?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2Fsay-no-7-reasons-why-you-shouldnt-get-married-if-youre-in-debt&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2FSay%2520No%2521%25207%2520Reasons%2520Why%2520You%2520Shouldn%2527t%2520Get%2520Married%2520if%2520You%2527re%2520in%2520Debt.jpg&amp;description=Say%20No!%207%20Reasons%20Why%20You%20Shouldn't%20Get%20Married%20if%20You're%20in%20Debt"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><em><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/Say%20No%21%207%20Reasons%20Why%20You%20Shouldn%27t%20Get%20Married%20if%20You%27re%20in%20Debt.jpg" alt="Say No! 7 Reasons Why You Shouldn't Get Married if You're in Debt" width="250" height="374" /></em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/say-no-7-reasons-why-you-shouldnt-get-married-if-youre-in-debt">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/spouses-and-debt-whos-really-on-the-hook-for-those-bills">Spouses and Debt: Who&#039;s Really on the Hook for Those Bills?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/these-choos-were-made-for-walkin-an-interview-with-a-modern-urban-nomad">These Choos were made for walkin&#039;: an interview with a modern urban nomad</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-fastest-method-to-eliminate-credit-card-debt">The Fastest Method to Eliminate Credit Card Debt</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-tricks-to-consolidating-your-debt-and-saving-money">5 Tricks to Consolidating Your Debt and Saving Money</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/debt-repayment-is-not-an-expense">Debt repayment is not an expense</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Debt Management debt finance marriage Thu, 12 Dec 2013 10:31:17 +0000 Kentin Waits 1099002 at http://www.wisebread.com 7 Financial Lessons From Breaking Bad http://www.wisebread.com/7-financial-lessons-from-breaking-bad <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/7-financial-lessons-from-breaking-bad" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/4421434228_3e1766e92d_z.jpg" alt="Breaking Bad poster" title="Breaking Bad poster" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>The hit TV show "Breaking Bad" will leave a lasting legacy as one of the most intense and popular shows on television. Watching Walter White and associates descend deeper into meth madness week after week has been truly entertaining. (See also: <a href="http://www.wisebread.com/financial-lessons-from-sons-of-anarchy">Financial Lessons from &quot;Sons of Anarchy&quot;</a>)</p> <p>But it's also been educational from a personal finance standpoint.</p> <p>Suffice it to say, Walter White made a lot of questionable decisions. And while we're probably never going to make a foray into making crystal meth, many of his choices can offer helpful lessons in money management for the average, law-abiding citizen. From preparing for disaster to investing your money and how to deal with unexpected wealth, there is much to learn from the craziness of Breaking Bad. Here are seven lessons to take away from the madness. [Caution: Spoilers Coming]</p> <h2>1. Practice Good Estate Planning</h2> <p>Walter White began cooking crystal meth because he got an unexpected cancer diagnosis. He wanted to pay off his medical bills and make sure his family was taken care of.</p> <p>There are obviously better ways to plan for a bad event.</p> <p>Life insurance is something everyone with a family should have. Do you have enough coverage? Look into setting up an annuity or other vehicle that can result in consistent payments to your family if the worst should happen. (See also: <a href="http://www.wisebread.com/how-to-buy-affordable-life-insurance">How to Buy Affordable Life Insurance</a>)</p> <p>Another big piece of estate planning is your emergency fund. Do you have enough cash in the bank to get through a tough period? Many financial advisors suggest putting away at least six months of salary.</p> <p>A Roth IRA is a great way to save for retirement due to its tax advantages, but it also comes in handy in an emergency because any deposits you make can be withdrawn without a penalty.</p> <p>Take time to review your financial plan. Are you prepared to handle any bad news that comes your way?</p> <h2>2. Get Quality Health Insurance</h2> <p>Health insurance is a vital part of your financial plan, and it's important to review your policy to ensure you're properly covered.</p> <p>Walter White lived in a pre-Obamacare world. That means his medical expenses may not have been capped. Under the new Affordable Care Act, his expenses would have been capped at $12,700 annually, even if he had the low-cost &quot;Bronze Plan&quot; purchased through one of the new health insurance exchanges. (He also would not have been turned down by insurers for any pre-existing conditions.) (See also: <a href="http://www.wisebread.com/understanding-the-affordable-care-acts-health-insurance-exchange">Understanding the ACA&rsquo;s Health Insurance Exchange</a>)</p> <p>But even under Obamacare, it's still important to find coverage that won't leave you on the hook for thousands of dollars that you may not have budgeted for. If you get insurance through your employer, review it closely to ensure you're properly covered. If you do purchase coverage through a health insurance exchange, <a href="https://www.healthcare.gov/how-do-i-choose-marketplace-insurance/">take a look at the Gold or Platinum plans</a>, which have higher premiums but more comprehensive coverage. Being underinsured can still lead to financial hardship.</p> <p>If you do come down with a medical condition, your employer may offer a health spending account, which allows you to deposit money tax free to help pay medical bills. Keep in mind, too, that unreimbursed medical expenses are often tax-deductible.</p> <h2>3. Talk About Money With Your Spouse</h2> <p>Walter thought he was best off hiding the truth from his wife, Skyler, but he'd have been better off being honest with her from the start.</p> <p>According to the National Endowment for Financial Education, <a href="http://www.nefe.org/press-room/news/marrying-your-money-2011.aspx">31% of American adults who combined assets with a spouse or partner say they have tried to conceal</a> the truth about their finances. Nearly 60% of these adults say they hid cash from their partner or spouse. But that same report also pointed out that in most cases, spouses end up finding out the truth, anyway.</p> <p>Once Skyler knew about Walt's &quot;business,&quot; she was &mdash; surprisingly &mdash; able to help him. But their relationship was irreparably damaged. The lesson here is that hiding financial truths from your spouse can strain a relationship and cause you to make bad choices. A family's finances are always better off when everyone is aware of the full picture.</p> <h2>4. Do Something With Your Money</h2> <p>Since most of Walter's money was obtained illegally, he had trouble investing it through traditional means. That's why he kept most of his cash under the floor, in storage units, and in barrels in the desert.</p> <p>But for the rest of us, it rarely makes sense to follow the &quot;under the mattress&quot; philosophy of saving. Most bank savings accounts and CDs will pay you interest and are FDIC-insured. There are also plenty of other safe investments, including bonds, that will protect your initial investment and offer a return. Even stocks are generally safe if you invest in index funds and don't need your money for a decade or more. (See also: <a href="http://www.wisebread.com/3-steps-to-getting-started-in-the-stock-market-with-index-funds">How to Get Started With Index Funds</a>)</p> <h2>5. Manage Your Risk, and Don't Get Greedy</h2> <p>Walter White's downfall may have come when he continued to cook crystal meth even when he had more money than he'd ever need. He let ego and pride get in the way of sensible thinking, and continued taking big risks when he didn't have to.</p> <p>It's tempting to always go after the highest return on investments. But investments with the highest returns often have the highest level of risk.</p> <p>The lesson here is that if you are ahead of the game in achieving your financial goals, consider taking a more conservative investment approach to protect what you have. This is especially true for folks who are approaching the age at which they plan to retire.</p> <h2>6. Don't Buy Flashy Things, Especially for Your Kids</h2> <p>After Walter's drug money started rolling in, he went and bought Walt Jr. an expensive sports car. This was, of course, a terrible idea for someone trying to keep a low profile.</p> <p>Even if you come into a lot of money legally, there are better things to do than blow it on an expensive material item. (Especially a car, which declines in value the second you drive off the lot.)</p> <p>Even ultra-rich people should take time to teach their children about good financial habits. If you feel the need to get a car for a teenager, take them to the car lot and have them learn about how cars are marketed and priced. Let them help you negotiate the best price on a small, reliable, and fuel-efficient sedan. Once it's bought, set up a plan for having them pay you back.</p> <p>And set a good example &mdash; parents who spend money irresponsibly have kids who spend money irresponsibly.</p> <h2>7. Don't Be Afraid to Ask for Help</h2> <p>When Walter needed to launder his drug money, he called Saul. When he needed some bad guys to disappear, he found Mike or some other henchmen. Without some help, there's a good chance Walt and Jesse would have been caught or dead before Season 3.</p> <p>It never hurts to consult with experts when you are in over your head. If you are confused by how to invest your money, find a good financial advisor. If you have home or auto repairs that you can't handle yourself, hire a guy. It's OK to get help.</p> <p><em>Any other financial lessons to be learned from Breaking Bad? Please share them in comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/7-financial-lessons-from-breaking-bad">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-things-play-teaches-you-about-personal-finance">5 Things Play Teaches You About Personal Finance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-reasons-why-you-dont-have-financial-common-sense-and-how-to-get-it">4 Reasons Why You Don&#039;t Have Financial Common Sense (and How to Get It)</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/review-of-the-money-mammals-dvd-for-children">Review of The Money Mammals DVD for Children</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-financial-lessons-everyone-should-learn-in-their-30s-did-you">5 Financial Lessons Everyone Should Learn in Their 30s (Did You?)</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/do-you-know-these-5-financial-lessons-most-people-learn-in-their-40s">Do You Know These 5 Financial Lessons Most People Learn in Their 40s?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance breaking bad finance financial lessons money money lessons Tue, 01 Oct 2013 10:00:04 +0000 Tim Lemke 993574 at http://www.wisebread.com Best Money Tips: Steps to Finding Financial Improvement http://www.wisebread.com/best-money-tips-steps-to-finding-financial-improvement <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-steps-to-finding-financial-improvement" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/finances-5272047-small.jpg" alt="finances" title="finances" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some great articles on finding financial improvement, the reality of passive income, and lessons we can learn from Candy Crush Saga.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.getrichslowly.org/blog/2013/08/05/4-steps-to-finding-financial-improvement/">4 steps to finding financial improvement</a> &mdash; If you want to find financial improvement, declutter your life. [Get Rich Slowly]</p> <p><a href="http://www.thesimpledollar.com/2013/08/06/the-reality-and-the-commitment-of-passive-income/">The Reality - and the Commitment - of Passive Income</a> &mdash; Passive income is great, but it takes a lot of time to build a revenue stream worth being excited about. [The Simple Dollar]</p> <p><a href="http://moneyqanda.com/candy-crush-saga/">Financial Lessons We Can All Learn From Playing Candy Crush Saga</a> &mdash; Did you know playing Candy Crush Saga can teach you that it pays to think a few moves ahead? [Money Q&amp;A]</p> <p><a href="http://www.fivecentnickel.com/2013/08/07/4-steps-to-prepare-for-the-next-recession/">4 steps to prepare for the next recession</a> &mdash; Get prepared for the next recession by getting rid of your debt and saving money. [Five Cent Nickel]</p> <p><a href="http://www.onesmartdollar.com/overcoming-obstacles-having-no-ideas/">Overcoming Obstacles: Having No Ideas</a> &mdash; When trying to figure out a way to make extra money, take time to do some self reflection to come up with an idea. [One Smart Dollar]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.threethriftyguys.com/2013/08/should-you-discuss-your-salary-with-coworkers-friends-and-family/">Should You Discuss Your Salary With Coworkers, Family, and Friends?</a> &mdash; It is a good idea to discuss your salary with your spouse, but coworkers probably shouldn't discuss their salaries with each other. [Three Thrifty Guys]</p> <p><a href="http://lenpenzo.com/blog/id21063-my-5th-annual-cost-survey-of-10-popular-brown-bag-sandwiches.html">My 5th Annual Cost Survey of 10 Popular Brown Bag Sandwiches</a> &mdash; As of 2013, Bologna sandwiches are the cheapest brown bag sandwich, followed by peanut butter and jelly. [Len Penzo dot Com]</p> <p><a href="http://www.freemoneyfinance.com/2010/03/nine-roth-ira-conversion-mistakes-.html">Nine Roth IRA Conversion Mistakes</a> &mdash; Don't make the mistake of converting your Roth IRA too slowly. [Free Money Finance]</p> <p><a href="http://www.savvysugar.com/How-Learn-Grammar-24558626">4 Ways to Become a Grammar Whiz</a> &mdash; To become a grammar whiz, take classes or read books. [PopSugar Smart Living]</p> <p><a href="http://parentingsquad.com/node/2352">5 Things You Need to Organize Before School Starts</a> &mdash; Now is the time to start preparing study spaces and school supplies! [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-steps-to-finding-financial-improvement">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/california-first-lady-maria-shriver-talks-to-us-about-help-for-families-in-tough-times">California First Lady Maria Shriver Talks to Us About Help for Families in Tough Times</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-financial-lessons-from-breaking-bad">7 Financial Lessons From Breaking Bad</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/i-am-doing-well-financially-now-what">I Am Doing Well Financially. Now What?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/afraid-yet-smitten-you-havent-heard-of-violent-acres-yet">Afraid, Yet Smitten - You Haven&#039;t Heard of Violent Acres Yet?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-the-economic-crisis-challenges-our-financial-beliefs">How The Economic Crisis Challenges Our Financial Beliefs</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips finance improvement Fri, 09 Aug 2013 10:00:30 +0000 Ashley Jacobs 981152 at http://www.wisebread.com Best Money Tips: Triggers for Financial Infidelity http://www.wisebread.com/best-money-tips-triggers-for-financial-infidelity <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-triggers-for-financial-infidelity" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/couple-angry-281907-small.jpg" alt="angry couple" title="angry couple" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some great articles on triggers for financial infidelity, how to do your own landscaping, and tips for buying your first home.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.creditsesame.com/blog/triggers-for-financial-infidelity/">5 Triggers for Financial Infidelity (and How to Steer Clear of Them)</a> &mdash; If you have separate accounts from your spouse, try to be transparent about your accounts to avoid financial infidelity. [Credit Sesame]</p> <p><a href="http://livingonthecheap.com/save-money-and-do-your-own-landscaping/">How to Do Your Own Landscaping</a> &mdash; Want to do your own landscaping? Draw up plans after deciding on a theme. [Living on the Cheap]</p> <p><a href="http://www.bargaineering.com/articles/7-essential-tips-buying-home.html">7 Essential Tips for Buying Your First Home</a> &mdash; When buying your first home, start by checking your credit. [Bargaineering]</p> <p><a href="http://www.moneytalksnews.com/2013/05/02/5-financial-tips-for-freshmen/">5 Financial Tips for Freshmen</a> &mdash; Make sure your college freshman understands the importance of understanding their credit report and score. [Money Talks News]</p> <p><a href="http://www.literallydarling.com/blog/2015/02/02/beauty-products-shouldnt-waste-money/">7 Beauty Products That Are a Waste of Money</a> &mdash; Instead of buying expensive scrubs, make your own at home on the cheap. [Literally Darling]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.kiplinger.com/article/real-estate/T010-C022-S002-creative-housing-for-seniors.html">Creative Housing for Seniors</a> &mdash; Are you a senior in retirement who needs housing? Consider looking into a cohousing community. [Kiplinger]</p> <p><a href="http://www.freemoneyfinance.com/2013/05/college-freakonomics.html">College Freakonomics</a> &mdash; Do you think a college degree is worth the price or is it not a great deal? [Free Money Finance]</p> <p><a href="http://money.msn.com/saving-money-tips/post.aspx?post=0978c800-4bf1-4b11-bb20-2a3eb4936ad8&amp;ref=bfv">Prom Spending Tops $1,100</a> &mdash; Don't let prom take a huge bite out of your wallet. Save money by de-accessorizing and avoiding the frills. [MSN Money]</p> <p><a href="http://www.savvysugar.com/Should-You-Change-Your-Maiden-Name-30208048">Should You Change Your Maiden Name? 5 Things to Consider</a> &mdash; If your maiden name is one that is synonymous with your career, you may want to consider holding onto it. [PopSugar Smart Living]</p> <p><a href="http://parentingsquad.com/how-to-prepare-your-child-for-surgery">How to Prepare Your Child for Surgery</a> &mdash; To prepare your child for surgery, take a tour of the hospital beforehand. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-triggers-for-financial-infidelity">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-financial-lessons-from-breaking-bad">7 Financial Lessons From Breaking Bad</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/review-of-the-money-mammals-dvd-for-children">Review of The Money Mammals DVD for Children</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chinese-money-habits-how-my-culture-influences-my-attitudes-toward-money">Chinese Money Habits - How My Culture Influences My Attitudes Toward Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/recession-journal-part-ii-broke-or-poor">Recession Journal Part II: Broke or Poor?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/conspicuous-spending-fading-to-black">Conspicuous Spending: Fading to Black</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips couples finance infidelity money Mon, 06 May 2013 10:00:33 +0000 Ashley Jacobs 973890 at http://www.wisebread.com Best Money Tips: Letting Go of Financial Stress http://www.wisebread.com/best-money-tips-letting-go-of-financial-stress <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-letting-go-of-financial-stress" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/7676631562_eb6c7414b6_z_1.jpg" alt="Letting Go of Financial Stress" title="Letting Go of Financial Stress" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found some great articles on letting go of financial stress, moves to make at work this year, and ways to make your resolutions stick.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.getrichslowly.org/blog/2012/12/31/take-a-deep-breath-letting-go-of-financial-stress/">Take a deep breath: Letting go of financial stress</a> &mdash; If you want to let go of financial stress, interrogate your worries when they creep in. [Get Rich Slowly]</p> <p><a href="http://www.savvysugar.com/Career-Resolutions-2013-26565437">50 Small And Big Moves To Make At Work This Year</a> &mdash; This year, make it a point to avoid office gossip and turn in projects before their deadlines. [SavvySugar]</p> <p><a href="http://www.forbes.com/sites/financialfinesse/2013/01/03/5-ways-to-make-your-new-years-resolutions-stick/">5 Ways To Make Your New Years Resolutions Stick</a> &mdash; To make your new years resolutions stick, put your goals in writing. [Forbes]</p> <p><a href="http://www.moolanomy.com/6388/mini-tasks-to-improve-your-finances-one-step-at-a-time/">50 Mini-Tasks to Improve Your Finances One Step at a Time</a> &mdash; A couple small steps you can do to improve your finances include checking your credit score and cutting recurring expenses. [Moolanomy]</p> <p><a href="http://www.mydollarplan.com/budget-friendly-health-tips/">12 Budget Friendly Health Tips</a> &mdash; Eat breakfast and skip junk food to stay healthy without breaking your budget. [My Dollar Plan]</p> <h2>Other Essential Reading</h2> <p><a href="http://couplemoney.com/mortgages/bi-weekly-mortgage-payments-programs/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+CoupleMoney+%28Couple+Money%29">Are Bi-Weekly Payment Programs a Good Option?</a> &mdash; Bi-weekly payment programs can help people reduce their interest costs [Couple Money]</p> <p><a href="http://www.threethriftyguys.com/2013/01/establish-an-irregular-expenses-account-in-2013/">What to Do in 2013: Establish an Irregular Expenses Account</a> &mdash; In 2013, establish an irregular expenses account so you don't have to dip into your emergency fund to pay for those inevitable irregular expenses. [Three Thrifty Guys]</p> <p><a href="http://www.fivecentnickel.com/2013/01/03/preparing-for-your-demise/">Preparing for Your Demise</a> &mdash; It's important to start preparing for your demise when you have kids. [Five Cent Nickel]</p> <p><a href="http://parentingsquad.com/prosquad-looking-at-the-big-picture-when-your-child-has-a-fever">ProSquad: Looking at the Big Picture When Your Child Has a Fever</a> &mdash; If your child has a fever, focus more on how your child looks and feels than the number on the thermometer. [Parenting Squad]</p> <p><a href="http://moneycation.blogspot.com/2013/01/six-benefits-of-buying-home_3.html?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%3A+Moneycation+%28Moneycation%29">Six benefits of buying a home</a> &mdash; Buying a home will give you tax advantages and pride of ownership. [Moneycation]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/ashley-jacobs">Ashley Jacobs</a> of <a href="http://www.wisebread.com/best-money-tips-letting-go-of-financial-stress">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/stopping-the-student-loan-debt-stress">Stopping the Student-Loan Debt Stress</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-meditation-can-make-you-a-money-master">6 Ways Meditation Can Make You a Money Master</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-reasons-a-big-paycheck-is-not-worth-staying-in-a-job-you-hate">5 Reasons a Big Paycheck Is Not Worth Staying in a Job You Hate</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/20-money-mistakes-everyone-makes-but-no-one-talks-about">20 Money Mistakes Everyone Makes But No One Talks About</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-science-says-money-affects-your-mind">4 Ways Science Says Money Affects Your Mind</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance best money tips finance stress Fri, 04 Jan 2013 11:00:31 +0000 Ashley Jacobs 963685 at http://www.wisebread.com 10 Small Business Money Myths to Reconsider http://www.wisebread.com/small-business/10-small-business-money-myths-to-reconsider <div class="field field-type-link field-field-url"> <div class="field-label">Link:&nbsp;</div> <div class="field-items"> <div class="field-item odd"> <a href="http://www.openforum.com/articles/10-small-business-money-myths-to-reconsider?" target="_blank">http://www.openforum.com/articles/10-small-business-money-myths-to-reconsider?</a> </div> </div> </div> <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/small-business/10-small-business-money-myths-to-reconsider" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000008998045Small.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="166" /></a> </div> </div> </div> <p>Money is obviously something a <a href="http://www.openforum.com/idea-hub/topics/money/article/how-your-small-business-can-survive-the-recession-1" target="_blank">small business owner thinks about often</a>. How much money do you have? How much money will it cost? How much money can you make?</p> <p>While money itself may not be your sole aim in building a successful business, money-making is a necessary component of business success. Maybe your motive in business is to help people, or be creative, or change an industry. Or, perhaps, your aim is to make money. It doesn't really matter, because any business, no matter its purpose, must make money in order to sustain itself.</p> <p><b>The Plunging-Profit Pattern</b></p> <p>Unfortunately, what often happens at this point is a pattern that leads to less profit, not more.</p> <p>The pattern starts with some long-held belief about money, and about how making money happens. You pull it out, eyeball it, and decide to try it out again. Or, more likely, you don't even consciously note it; you just allow it to control your decisions.</p> <p>Maybe it's your Granddaddy's voice in your ear, saying that slashing prices is the only way to boost sales. Or maybe it's your old business mentor, giving you his tips on how to cut corner after corner, because that's his version of bootstrapping. Maybe it's your accounting professor, your tax guy, your lawyer, your spouse, your best friend, your own fears.</p> <p>Whatever old hat it is you're waving around, it doesn't fit on your new business head. It doesn't work, and your profits plunge.</p> <p><b>The Problem with Money Myths</b></p> <p>Money myths aren't always incorrect. That's the trick, and that's why you keep believing them. Sometimes they do work, so their power over you remains. In fact, money myths <i>are</i> accurate in certain situations, but are not universally true. Applying a limited or faulty money belief as if it is universal or flawless is how small businesses wind up in trouble.</p> <p><b>Ten Common Money Myths</b></p> <p>Do any of these statements sound familiar? Have you heard yourself saying them or heard something similar echoing through your brain?</p> <p>Myth #1: &quot;Lowering my overhead (spending less) is the only/best way to increase my profits.&quot;</p> <p>Myth #2: &quot;Debt is the devil.&quot;</p> <p>Myth #3: &quot;Payroll is my biggest expense.&quot;</p> <p>Myth #4: &quot;I can't afford to __________ .&quot;</p> <p>Myth #5: &quot;I have to offer the lowest prices to beat my competitors.&quot;</p> <p>Myth #6: &quot;Lack of money is my biggest business problem.&quot;</p> <p>Myth #7: &quot;Dumping money into XYZ area of my business would solve my problems.&quot;</p> <p>Myth #8: &quot;I'm doing the best I can with the money I have.&quot;</p> <p>Myth #9: &quot;Cutting jobs/cutting costs/cutting corners is my only option.&quot;</p> <p>Myth #10: &quot;Lack of profit is justifiable because it's a down economy.&quot;</p> <p><b>Busting the Money Myths</b></p> <p>Your job is to see the myths for what they are and are not. They are not universally true, unerringly accurate statements. They are limited. All you have to do is figure out their limitations. In other words, when should you keep the faith, and when should you stop believing?</p> <p>Use these myth-busting questions to figure out if your money belief works for your current situation.</p> <ul> <li>Why do I think this is true?</li> <li>Where did I learn this?</li> <li>What policies do successful businesses have about this money issue?</li> <li>Is this the only option?</li> <li>Is this the best option?</li> <li>What are the alternatives? (There are always alternatives.)</li> <li>What's the opposite?</li> <li>What's the long-term outcome of applying this option?</li> <li>If this were the only thing people would know about my business, would I do it?</li> <li>What possible positive effects could this have?</li> <li>What possible negative effects could this have?</li> <li>What effect am I looking for?</li> </ul> <p>Like it or not, part of your job is dealing with the money and being smart about the money. If the nuts and bolts of money-making don't appeal to you, you'll be tempted to divert to the easiest plan. The easiest plan will be the method that's most comfortable, and that's where the danger lies. Pay attention to your own money beliefs and make sure they're accurate for your actual situation before you act.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/annie-mueller">Annie Mueller</a> of <a href="http://www.wisebread.com/small-business/10-small-business-money-myths-to-reconsider">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-is-true-affordability">What Is True Affordability?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-a-teenager-started-a-multi-million-dollar-online-business-with-a-parrot">How a Teenager Started A Multi-Million Dollar Online Business with a Parrot. UPDATED</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-disgusting-fake-game-show-asks-what-would-you-do-for-money">My disgusting fake game show asks &quot;What would you do for money?&quot;</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-protect-yourself-from-theft-while-traveling">7 Ways to Protect Yourself From Theft While Traveling</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/dont-buy-it-now-on-ebay-without-using-livecom-cashback">DON&#039;T Buy It Now on eBay without using Live.com cashback</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Small Business Resource Center business investment cash cost cutting finance money money myths small business Fri, 23 Dec 2011 22:42:09 +0000 Annie Mueller 835747 at http://www.wisebread.com