Money Tips Network
Some Hidden Challenges of Debt Freedom and Financial Independence
Most of the time – well, let’s be honest, almost all of the time – I talk about all of the positives of achieving debt freedom and working toward financial independence. It opens up a lot of personal freedoms that aren’t available if you’re living paycheck to paycheck. It makes a ton of “background stress” and some moments of intense stress just utterly disappear. Life’s difficult moments are a lot less disastrous. The process of achieving those things has unveiled a lot of things in life that I might have never appreciated. I’ve mostly just given up things that I don’t miss (after a bit of transition, sometimes).
That doesn’t mean that everything about financial improvement is great, however. There are a lot of drawbacks to achieving debt freedom and chasing financial independence, and while many of them can be mitigated to some extent, a lot of them are just some negatives in the face of a lot of positives.
Who’s Allowed to Buy Your Credit Report?
Your credit reports are full of information about you, from the types of accounts you have opened to how you’ve managed those accounts, to your current and previous addresses.
What you may not realize, however, is just how valuable the information contained in your credit reports may be to a variety of different companies.
The companies that are responsible for collecting that information, along with the information of some 220 million or so other consumers, are known as the credit reporting agencies (CRAs). The three largest and most well-known CRAs are Equifax, TransUnion, and Experian. The CRAs make money, among other ways, by collecting your information, compiling it into credit reports, and reselling it to a variety of different companies that are allowed to purchase it.
How to be happy and lead a meaningful life
Overcoming fear is one part of living life without regret. You do that by being open to new people and new experiences, and by acting even when you’re afraid. Another aspect of a rewarding life is learning to find happiness in your daily existence — and building upon that happiness to construct a meaningful life.
Today, in the second part of this limited series on mastering your life, I want to share what I’ve learned about how to be happy.
More than two thousand years ago, the Greek philosopher Aristotle wrote, “All knowledge and every pursuit aims at…the highest of all good achievable by action.” And what is that good? “Both the general run of men and people of superior refinement say that it is happiness, and identify living well with being happy.”
8 Ways Social Media Tricks You Into Spending More
When it comes to saving money, social media may not be your friend — especially if you're a millennial. Research shows that a whopping 57 percent of millennials spent money they hadn't planned to spend because of what they saw on social media.
12 Red Flags to Watch for in a Job Interview
Getting your foot in the door of a new company is tough. Job openings attract hundreds of resumes, and if you can get an interview out of those masses, you're one of the lucky ones. Considering the astronomical odds, the idea of then saying no to a job offer seems ill-advised.
How to Get More Value From United Airlines Miles
United Airlines is one of the largest carriers in the world, and it actually has a pretty good frequent flyer program.
How to Fight Back Against Mortgage Discrimination
In late February, the city of Sacramento filed a lawsuit in federal court against Wells Fargo, claiming that the lending giant has been discriminating against black and Latino mortgage borrowers since 2004.
Join Our Tweetchat on Thursday 4/19, 12pm PST/3pm EST for a Chance to Win $300 in Prizes!
Join our Tweetchat on April 19th at 12pm PST/ 3pm EST for lively conversation and a chance to win a $200 gift card or one of two $50 gift cards! Use #WBChat and #SmartyChat to participate.
This week's topic: Having a Financially Savvy Birthday!
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How to Use Your Financial Goals as a Litmus Test
When Sarah and I started turning around our finances, one of our biggest goals was to achieve complete freedom from debt while fully owning a family home for our children.
That was a pretty audacious goal. When we started, we had almost $20,000 in consumer debt, two car loans, and several student loans, and we lived in an apartment. We had minimal savings.
Dreaming of a Frugal Christmas? It’s Easy — If You Start Now
The National Retail Federation predicted that U.S. residents would spend as much as $682 billion during the 2017 holiday season.
The NRF was wrong. We actually spent $691.9 billion.
And I have to admit that I didn’t do my share, even though I gave presents to 10 people and made some delicious holiday treats.
Understand: Christmas is one of my favorite times of the year and giving is very important to me. But I can’t – and won’t – break the bank to celebrate. Neither should you.
The good news: A mix of smart planning and savvy hacking will result in a Christmas (or Chanukah, or Kwanzaa) that’s satisfying, special, and solvent.
The better news: You’ve got almost nine months to set your holiday plans in motion.
As noted, I didn’t spend very much last year. These tactics really do work.
5 Characteristics of the World's Youngest Billionaires
According to Forbes, there are 2,208 billionaires in the world today. And just 63 members of this elite group are under the age of 40.
Though the 63 youngest billionaires are a diverse group of individuals with different claims to fame, they do have quite a few things in common.
Best Money Tips: How to Start Trading Cryptocurrency
Welcome to Wise Bread's Best Money Tips Roundup! Today we found articles on cryptocurrency trading for beginners, how to build a minimalist pantry, and tips for planning a debt-free vacation.
Top 5 Articles
Cryptocurrency Trading for Beginners: How Can You Get Started?
10 Fastest Growing Jobs That Didn't Exist 10 Years Ago
A decade ago, social media was young, mommy-blogging was a hot new trend, and — oh yes — the economy was falling apart. Millions of us lost our jobs.
6 Easy Ways to Protect Your Debit Card From Skimmers
You've no doubt heard news reports about debit card skimmers being found at certain retail or banking establishments. Card skimmers can be installed at ATMs, restaurants, gas payment terminals, and even store check-out lines. The phony equipment is small and can be hard to spot.
How to Manage Student Loans On a Low Income
Student loans are a lifeline for college students without the means to foot the full bill for higher education. But the hardships begin when they graduate.
10 Money Rules Every Working Adult Should Know
The media, money gurus, investment firms — they all have a way of making the world of personal finance seem hopelessly complex. We've all seen otherwise competent, capable adults go crossed-eyed when the topic of money management comes up.
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The Expendable Employee
Quite often, I’ll read or hear stories from readers, from friends, and from other online sources that revolve around a company treating an employee pretty poorly. Tell me if any of these stories sound familiar…
Your company hires a new employee doing the same job as you and pays them a significant amount more than what you’re earning after having worked there for a while. You bring this up to management and, regardless of what answer they give, your salary stays low.
Your boss quickly says no to any request for a raise, even after a long history of good performance reviews.
Your scheduled time off is constantly altered without even consulting with you at all, often forcing you to cancel personal plans at the last minute.
People who engage in negative, backstabbing behavior in your workplace are rewarded, while people who don’t engage in that behavior end up with a knife in their back and lose their jobs or opportunities for promotion.
How to build confidence and destroy fear
My mission at Get Rich Slowly is to help readers achieve personal and financial freedom. I want to help you master your money and your life.
Generally speaking, we focus almost exclusively on the financial side of the things. This week, I’m going to shift gears and share some of the things I’ve learned about overcoming fear, finding happiness, and achieving personal freedom. (Don’t worry. We’ll get back to the hard-core financial talk very soon.)
In December’s discussion of wealth habits, I talked about what T. Harv Eker calls “financial blueprints”. Actually, I talk about them all of the time. Understanding your money blueprint is a vital part of changing your relationship with money.
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