Money Tips Network
The Only 4 Things You Need to Do to Start Investing
Do you want to get rich through investing one day? Do you think it's even possible? Well, it is. And the best part about investing is that it's simple.
It's not a get-rich-quick scheme, and it's also not rocket science.
I'm going to show you four simple and actionable steps you can take. After reading this article, you'll be able to just follow the directions and start investing right away. Really, there are just four steps.
Let's begin.
1. Choose an Investment Company
Before you can invest, you need to choose an investment company to invest with. There are tons of options out there, including Fidelity, Schwab, and T. Rowe Price. But I'm going to recommend the company that I think is the best. And that company is Vanguard.
5 Things No One Is Telling You About Success
Everyone wants to be successful. For some, success is found in strong relationships. For others, it's accomplishments or influence. And of course, few of us have a definition of success that doesn't factor in finances.
There is certainly no shortage of material dedicated to helping us achieve any number of "successful" lifestyles. Typical offerings include generic action tips like "do what you love" or "overcome obstacles," as well as generalized principles such as "it's all about who you know" and "the best rise to the top."
Unfortunately, success isn't as simple as persevering at something you love. That may be what we all want to believe, but there are some hard truths and hidden secrets to this thing we call success.
5 Painless Ways to Manage Money With Your Partner
Whenever I see a talk show or reality show that deals with finances, I'm always most amazed by the couples.
"She makes about $60,000 per year ... I think."
"I know he has credit card debt, I just don't know how much."
These are the kinds of things I hear people say about their spouses and their money. When you're sharing bills, a household, and (hopefully) a future, it seems a little insane that so many people aren't on the same page. Or haven't even talked about what page they're on. Not before they were married, not after, and not even when they land in major financial trouble.
The Little Perks You Pay Big For (That New Car Smell, For Example)
Several years ago, Car and Driver had an excellent article about how car companies put in a lot of extra effort to engineer the right “new car smell.” The goal? They want that smell to feel both exciting and comforting, encouraging the car buyer to both desire the smell when they’re shopping and to enjoy it while it lasts after the purchase.
That “new car smell” is carefully engineered. In fact, you can actually buy spray bottles of “new car smell” for your own car. Car dealerships use that stuff all the time in their cars to create that sense of freshness and appeal when you’re shopping for a car.
Anatomy of a credit-based insurance score
If you drive a motor vehicle in the United States, it is compulsory in most states to carry insurance. Auto insurance is one of the “big wins,” where a little effort provides a big payoff, not just once, but again and again. There are several well-known ways to save on auto insurance ranging from keeping a clean driving record to shopping around. One way that doesn’t get enough attention but has a big influence on how much premium you pay is the credit-based insurance score. Ninety-five percent of auto insurers now use a credit-based insurance score as part of their underwriting process (where permitted by law). Hence, in order to get the best rates, it is essential to know what this score is, how it is used, and how to maintain a good score.
Four Fundamental States of Personal Finance
Students of chemistry are likely aware of the four fundamental states of matter. The most advanced chemistry course I’ve taken was in high school, although I must have learned about this basic concept earlier than that. Solids have a definitive shape and volume; liquids assume the shape of its container and flow easily; gases also take the shape of the container but can be compressed in volume. The fourth state, plasma, is like gas, but produces electromagnetic fields and electric currents.
Scientists will argue that there are a number of additional states of matter, but the four fundamental states roughly equate to financial stability. To create this metaphor, there’s no need to look at superfluids or Bose-Einstein condensates.
Mind-Blowing Tiny Houses With Huge Design Inspiration
Tiny houses are a huge thing.
The movement, centered on downsizing homes to live more simply and less expensively, was a fringe campaign just a year or two ago. But with the passage of the first annual Tiny House Conference just last month, and the recent opening of miniature "pod" hotels across the globe, tiny houses have officially arrived at full-blown trend status.
Reader Mailbag: Fine China
What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. Mortgage question
2. Old papers
3. Renting from parents and insurance
4. Skill diversification
5. Willpower struggles
6. Space for useful stuff
7. Mortgage recasting
8. Food stamps
9. Why Americans are moving less
Giving kids money to manage
This article is by staff writer Lisa Aberle.
We’ve slowly started our children’s financial education. I thought the easiest way to start would be opening a savings account. I suppose I was correct, but it was met with more resistance than I expected.
When we actually opened a savings account for them, I explained that we would deposit their money into their accounts. Then the bank would pay them interest. First, my son was horrified that they would lend “his” money out to other customers, and would he ever see it again? And then, could he have his original bills back?
Manage your life like a CFO
If you want to save money, you’ve got to manage your life much like the chief financial officer runs the company where you work. J.D. Roth of the personal finance blog “Get Rich Slowly” just launched a course that can help you do just that. The course aims to help you eliminate debt, master your [...]
Manage your life like a CFO from personal finance blog Bargaineering.com.
This blog was posted by Mitch Strohm
Financials of Real Estate Investment #3
Here are the details of my third rental real estate property. I purchased it in the middle of 2013. For reference, here are links to details on property #1 and property #2. And here are the details on my real estate plans.
One Building, Four Units
Here are the highlights of how I came to own this place:
21 Decisions You'll Never Regret Making
"Forget regret. Or life is yours to miss."
That famous quote is plucked from the Tony Award-winning musical "Rent," and it's absolutely accurate; spend too much time regretting things you've done or haven't done, and your life will pass you by.
Rather, spend your time pursuing things that you'll never regret. Positive aspirations are learning experiences no matter how they turn out. Here are 21 that will only make you happier.
8 Reasons Why It's OK to Eat Meat
These days, it seems like meat doesn't have many friends. Vegetarians hate it. Environmentalists rail against it. And your doctor has probably told you to avoid it.
But it may be time to come to meat's defense. After all, there is considerable evidence to suggest that lean beef and other meats can be a meaningful part of a balanced diet.
No one is suggesting you must eat an 18-ounce Porterhouse for every meal. But you may be surprised to find that meat can be very good for you in ways you never considered.
Consider these great benefits of eating meat.
1. It's Packed With Protein
One six ounce steak has about 44 grams of protein, or nearly 90% of the daily recommended intake for an average middle-aged man. That's great for building strong muscles and repairing damaged tissues.
Best Money Tips: Celebrate Cinco de Mayo on a Budget
Welcome to Wise Bread's Best Money Tips Roundup! Today we found some amazing articles on celebrating Cinco de Mayo on a budget, keeping your kids entertained this summer, and tips for success on LinkedIn.
Top 5 Articles
5 Ways to Celebrate Cinco de Mayo on a Budget — To celebrate Cinco de Mayo on a budget, host your own fiesta. [PopSugar Smart Living]
16 Ways to Use Up Leftover Champagne
I know how the joke ends, so I'm just going to say it now: If you're one of those people who wonder "who has leftover champagne," then you can just stop reading now.
For the rest of us who always find half full bottles of (no longer) bubbly left around the house after every party, here are 28 recipes to use up flat champagne. (See also: 25 Things to Do With Used Corks)
25 Dumb Habits That Are Keeping You in Debt
"A hundred wagon loads of thoughts will not pay a single ounce of debt" goes an Italian proverb.
You need to take action to tame your debt monster. Let's put your financial house in order by kicking out these 25 dumb habits that are keeping you in debt.
Lack of Strategy
Without a strategy, you never know whether or not you are doing things right. Start by assessing how bad the situation is.
1. Not Having a Monthly Budget
One of the top reasons for having too much debt is living well beyond your means. You need to sit down, list of all your monthly expenses on spreadsheet, and put a number next to those expenses. How much you are spending per month may actually shock you. Once you have those numbers, go about creating a budget that will allow you to pay down your debts.
8 Freelance Gigs Anyone Can Do to Make Extra Money
"This easy money I'm earning on the side is really cramping my style!" — said no one ever.
A small, supplemental income that's not too taxing on your time and energy can mean the difference between frugal and comfortable living. Trying to grow your savings? Stuck with a salary freeze? Too pinched to pull the trigger on that weekend getaway? Here are eight low-commitment gigs you can go after outside your nine-to-five to pad your pockets or indulge your leisure.
Making Big Financial Tasks Small
My biggest dreaded personal finance task is filing papers. I absolutely loathe it.
For starters, it’s a never-ending task. There are seemingly always more papers that need to be saved somewhere.
If I happen to get behind a little bit, the pile of papers that need to be filed becomes a small mountain. I just want to shove that big pile in a filing cabinet somewhere and just forget about them… which sounds great until you actually need a particular paper, then you’re spending hours digging through reams of documents trying to find one item.
I simply don’t enjoy it. If I can find an easy excuse, I put it off, and then I regret doing so because the pile of papers gets overwhelming.
I’ve really only found one way that makes all of this work for me. I break it down into tiny, tiny tasks and just do one task a day.
The Allure of “Secret” Advice
I am almost immediately suspicious of anyone who offers “insider” or “secret” advice or information.
First of all, if the “secret” or “insider” information were so strong, that person would be utilizing it instead of selling it. If someone is able to use their “secret” technique to turn $10 into $10,000 quickly, why are they selling that technique instead of repeatedly turning $10 into $10,000?
Second, if the “secret” or “insider” information truly gave me an edge, it’s likely that the information has already been exploited. It’s ridiculous to think that a salesman is going to sell me a special piece of financial advice that the investment banks – where armies of people and computers are constantly trying to find market inefficiencies – aren’t aware of already.
A conversation with Mr. Money Mustache
Note: This article is from J.D. Roth, who founded Get Rich Slowly in 2006. J.D.’s non-financial writing can be found at More Than Money, where he recently wrote about how to be happy.
As part of the Get Rich Slowly course, I interviewed 18 of my favorite financial experts. Combined, these interviews comprise over eight hours of audio and more than 200 pages of written transcripts, all of which are available as part of the package.
Facebook
Become a fan
Twitter
Follow us
RSS
Subscribe