This article is by Les Masterson.
Fathers are great at offering advice – in matters of life, love, and, of course, money. And while we’ve all resorted to clichés at times, the wisdom fathers impart often stays with their children, who in turn pass that guidance on to the next generation.
So in honor of Father’s Day, we wanted to ask readers: What did your father teach you about money? What was his best – and worst – advice?
So far, the responses we’ve gotten back have been every bit as insightful as we had hoped. Readers were given a drive to invest and to work hard. Fathers inspired their children to save for a rainy day, no matter how modest a sum.
This article is by staff writer Ryan Takach.
Stock-picking can be difficult, especially if you don’t have the ability to monitor the market and your investments consistently. Managed investments — such as mutual funds and exchange-traded funds (ETFs) — have become a popular choice because they provide exposure to a wide array of securities that would otherwise be out of reach for the average investor.
So many reasons to love index funds
The fund world is vast. There are so many available options, but they are not all created equal. In fact, a majority of actively managed funds fail to beat market averages, which makes picking funds almost as difficult as picking individual stocks in my opinion.
This article is by staff writer Holly Johnson.
It’s getting to be summertime, and the living should be easy. But if you’ve ever priced out a week-long vacation, you already know what a shocking experience it can be. Even when you’re frugal, the costs that come with domestic and international travel are inescapable and really add up quickly.
Not only are you on the hook for lodging at a hotel or resort typically, but you may also have to pay for airfare, a rental car, resort fees and travel-related taxes. And if you want to have any fun or eat, your expenses won’t stop there. Add in the cost of park tickets, excursions, shows, and meals and you’re ponying up a great deal of cash for your relaxing getaway.
This article is from returning staff writer Tim Sullivan.
I first became part of the Get Rich Slowly community six years ago. I lived in Austin, Texas, at the time and had to travel a lot between jobs. I say that I drove a scooter to save money on gas; but really, it was because I couldn’t afford a reliable car. The fact it cost me less than $2 to fill up my tank for a week was definitely an added bonus.
I was working multiple jobs to pay off student loans and looking for answers after I reached the top of that mountain. But thanks to everything I learned here, I finally got totally out of debt. How did I do it? Through multiple sources of income and some tough budgeting decisions, I hustled my way into the commendable financial hat trick:
I learned to budget and spend sensibly.
I eliminated my debt.
This article is by staff writer Honey Smith.
Next week marks my two-month anniversary at my new job. Huzzah! In addition to celebrating my new, higher salary, I am also feeling simultaneously challenged and less stressed.
I feel challenged because my new job is in an entirely different industry than my former position. But I’m definitely less stressed because the performance expectations are reasonable and my colleagues are fun and friendly. I may even be celebrating a new coworker soon, since the friend who got me into SEO in the first place (and who was also one of my professional references for my current position) has applied for a job in my department.
This article is by staff writer Honey Smith.
My Facebook feed is full of good news these days. This is wonderful news for my friends and family, of course. It’s not necessarily good news for my wallet. “Christmas in July” and of course the actual holiday season aside, it seems to me that June is one of the most festive times of year. Think about it — you’ve got:
This article is from returning staff writer Tim Sullivan.
I haven’t spent a Father’s Day with my dad for over a decade. Don’t get me wrong, my father is awesome. If I could jet-set at will, I’d be flying non-stop to make him Bloody Marys every third Sunday in June.
This year is different, though. A break in my schedule and a new nephew in the family means I am back in my hometown for a nice, long stretch this summer. My mother is looking forward to long dinners on the back deck with my wife and me, and my father is looking forward to having me do all the honey-do list items that his doctor says he shouldn’t tackle anymore.
This article is by staff writer William Cowie.
A 20-something acquaintance of ours recently received an inheritance of a few tens of thousands of dollars from an aunt unexpectedly. Naturally, all of us were very happy for her, and it wasn’t long before I asked what for me was the obvious question: “So, are you going to invest the money?”
She looked at me as if I wanted her to bet on the frog from Calaveras County: “What? And lose it all?”
It’s not easy to shock an old man, and I’m certain she didn’t mean to set my head to spinning. But her reaction left me pondering — why do people equate investing with devastation? She is not the only one.
Excuses — the reasons not to invest
She doesn’t strike me as the literary type, so I doubt that she’s ever heard Mark Twain’s famous quote about investing:
This is a guest post by Lynnette Khalfani-Cox.
In a little less than 18 months, I lost three treasured family members. First, my husband’s 94-year-old grandmother, Nana, passed away in late 2013 and was laid to rest just before Thanksgiving.
At the end of December 2014, my sister Deborah died suddenly and completely unexpectedly. Debby was a 49-year-old healthy, vibrant person, the mother of an 11-year-old daughter, and the most caring individual I’ve ever known.
Five weeks after Debby’s death left my entire family reeling, our dear Uncle Otis, who was like a father to me, passed away from cancer at the age of 75.
Needless to say, the emotional pain of these losses has often felt unbearable. But for many individuals, unexpected financial expenses may arise that add to the grief they experience as well.
This article is by staff writer Lisa Aberle.
Summer may not have arrived according to the calendar, but it sure seems like it’s arrived based on the weather.
The sunshine and balmy breezes may have you dreaming of backyard barbeques, luscious produce, and fresh salads. But your grill’s charcoal might not be the only thing on fire this year. Some food prices are heating up too, so watch your food budget.
Beef
After planning your menu for your backyard barbeque, your guests might be tempted to ask, “Where’s the beef?” Why? Almost every single cut of beef has a beefier price this year, compared to last year. (source).
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