The prospect of becoming a millionaire is a common desire of most individuals. Having a healthy amount of money which has been earned through hard work by a certain age is highly significant. If the amount has been achieved through hard work, then it is all the more satisfying for an individual. If a person wishes…
With over 180 countries and currencies (recognized by the United Nations), there is no doubt that sometimes keeping track of these ever-changing currencies and values can be a little overwhelming. In fact, much of the currencies used today have dramatically changed in the past few years. For example, did you know that the United States…
It has often been quoted that the only certainties in life are death and taxes. While people generally die only once in a lifetime, taxes are an annual occurrence and failure to do them properly will result in being audited. Getting audited is an additional headache to worry about, and can end up as a…
Good news since my first article on buying the cabin. Everything is a go. The appraisal came back favorable on my primary residence, and there will be plenty of cash at closing to buy the cabin outright. The official closing is later this week, but I wanted to give an update of what has transpired…
Debt generally falls into one of two major categories; secured and unsecured. Understanding the difference between the two can be very useful when it comes to budgeting and prioritizing payoffs. It’s also important to know the difference between secured vs. unsecured debt when it comes to protecting certain assets. Secured Debt Simply put, any loan…
An entrepreneur is known to take up multiple risks by just making choice to start business. You might have done all your promising homework and have a promising business model right in front of you. You are likely secured financing through small business loans or by just using your credit cards. These options might seem…
We all have influences and we all want to make sure we get the best financial advice. Other people often shape who we become, what we believe, and how we act. So, who influences me from a financial standpoint? I have had several influences. I’ll share a few of them with you. Family Influences Can…
Whether you’re facing financial strain or are just looking to cut back on costs, finding ways to trim your expenses can be a very beneficial, but tricky, experience. Oftentimes, we lose track of our spending and find ourselves asking: “where did all my money go?” It’s important to stay abreast of your spending habits and…
Building wealth isn’t exactly easy, but it definitely doesn’t have to be hard either. It’s more about discipline and routine than intelligence. Intelligence and knowledge help once you get to the more advanced stages, but when you’re starting out, all you really need is a plan and the willingness to stick to it. I’m going…
The evaluation of investments can be a daunting task. Here are five recommendations and a checklist that can help guide you through the process. Measure against your objectives What is the purpose of your investment? Is it to achieve specific financial goals such as investing for retirement or beating inflation? Your points of comparison (or…