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Money Lessons

ABCs of Personal Finance: 26 Elementary Money Lessons

11.19.2009

Eat at home. Restaurants can be expensive. If you don’t have room in your budget, you can save a bunch of money by making your own meals.
Financial focus. Don’t try to do too many things at once. Focus on becoming debt free, saving an emergency fund, or saving for retirement, but don’t do all at once.
Get going. The best time to start investing is today. With compound interest on your side, the sooner you invest the better.

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Being owed money & striving to pass the test

11.16.2009

I once heard someone say, “challenges are just wonderfully disguised opportunities for growth.” I really do believe it to be true. Just like a strong physical body requires exercises that push it beyond what is comfortable, so a strong character requires challenges that aren’t comfortable. My newest challenge is that an advertiser owes me a [...]

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Don’t fall off the wagon with your finances

09.28.2009

The following is a guest post from John Gowan. John is the principal financial consultant at Financial Legacy Builders, an asset management and financial consulting firm that specializes in helping young adults eliminate debt, build wealth, and increase their giving.
Staying on Course with Your Finances
How many times have you started something that you never quite [...]

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Are you a saver or a spender?

09.10.2009

… there are generally two types of people— savers and spenders. There are those who spend first and save what is left, and those who save first and spend the remainder. If you want to accumulate wealth, learn to become a saver.

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When should you replace your old car?

08.18.2009

The difficulty with owning an old car is that it usually takes a lot of TLC and regular repairs… more and more people are ditching their beaters for new cars.

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How to manage financial risk

08.16.2009

The ability to evaluate a situation and know if there is a possible negative consequence is a characteristic of all animals. In fact, for generations those instincts were necessary for survival. Too often, however, it seems as though our ability to evaluate the potential negative impact of financial decisions is disappearing…

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How do you pay off a car?

06.15.2009

It really is possible to pay off your cars – and it puts you at a huge financial advantage!! These are the steps we took to pay off our cars…

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5 first grade money lessons that many adults have forgotten

05.27.2009

1. Save money before buying something, if you don’t have the money, you don’t get it
Dave Ramsey has made his living by re-teaching adults this simple lesson that many of them have seem to have forgotten. As the Proverb says, “The eyes of man are never satisfied.” We live in a nation (maybe even a [...]

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How to get a great return in your 401k during a recession

04.29.2009

This is one of the easiest ways to get a great return in your 401k during a recession (or anytime)…

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Money Mistake #2 – Thinking that money solves money problems

03.31.2009

Money doesn’t solve money problems… I know it sounds absurd – doesn’t it? But the truth is that just like an alcoholic doesn’t break free from the addiction by drinking more, our money problems don’t go away with more money either. The reason it sometimes appears that they do, is because it can cover them up – for a while.

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Roth IRA 101

06.10.2008

Right now, you may be wondering why you should invest in a Roth IRA if you currently have a retirement plan (401k, 403b, etc.) with your employer. The Roth IRA has many benefits that other retirement plans don’t have, and chief among them is the fact that your investment earnings may accumulate tax-free. In other words, your Roth IRA has the opportunity to grow without incurring any taxes and can be distributed to you tax free, if some certain conditions are met.

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3 tips for new college grads

05.20.2008

“Make it a habit to have more money coming in than going out. You may need to drive the clunker a bit longer or postpone that trip to Europe.” Good advice. It is the simple 3rd grade math problem that is the ONLY way to wealth. If you can start the habit now, you will be in great shape for the rest of your life. If you don’t, you will have to face the music sometime and the longer you wait the more difficult it becomes.

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Dave Ramsey on how to be financially successful

05.13.2008

I found a good video from Dave Ramsey that goes over the basics of his plan for getting your finances in order. It is pretty funny to watch him try to squeeze everything from his book Total Money Makeover into a 5 minute video.

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Government and Finances

05.03.2008

What do we mean by the words deficit and debt? The deficit reveals whether the government has balanced the budget in any year. Our federal government is addicted to deficits. The federal government has spent more on programs and services than it has collected in taxes thirty-one out of the last thirty-five years. But, don’t be fooled by any news headlines boasting about balance the budget. Simply balancing the budget, although it helps not to add to the overall debt, will not solve the long-term financial problems of Social Security and Medicare.
The debt of the federal government reveals how much money the government has borrowed in total.

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