People make mistakes. Mistakes involving money are no different. However, money mistakes have the potential to make our lives much more difficult than they need to be. To help you identify and hopefully avoid these mistakes, I’ve compiled a list of 13 common money mistakes to avoid.
Paying off debt can be difficult, especially if you don’t have a plan of attack.
There are two popular debt repayment strategies that most people use to pay off debt: the debt avalanche and debt snowball.
Although I personally recommend the debt avalanche, the debt snowball has its own merits and is a formidable contender for best debt repayment method.
How to Use the Debt Snowball Method to Pay Off Debt Read More »
If you want to be successful in achieving your financial goals, you need to be intentional with your money saving efforts.
There are things in your life that are costing you money each month while providing little to no value in return.
If you’re interested in finding ways to save more money, keep reading to learn 10 common things to give up to save money.
Paying off debt can be daunting, especially if you don’t have a plan. However, with the right strategy, the path becomes clearer.
The debt avalanche method is one such strategy and is the method that I personally recommend for paying off debt.
Although each person’s financial situation is different, when compared to similar debt repayment strategies, the debt avalanche method will save you the most money in the shortest amount of time over your repayment period.
Debt Avalanche Method: Fastest Way to Pay Off Debt Read More »
Have you ever bought something on a whim that sounded like a good idea in the moment, only later to find out it wasn’t quite what you were looking for?
Early in our lives, my wife and I had a penchant for purchasing exercise equipment. Back then we thought that instead of buying a gym membership, we could purchase a few pieces of home gym equipment and workout from home.
The idea was ok in theory and we still use some of the equipment we purchased, but the first piece of equipment we purchased, an expensive elliptical, very rarely got used.
If we had practiced the pause prior to making our home gym equipment purchase, we most likely would have realized that the equipment in question wasn’t right for our planned workouts and either bought a better fit or foregone the purchase altogether.
Keep reading to learn more.
Like many of you, I was first introduced to the concepts of calculating your real hourly wage and trading your time (or life energy) for money in the book, Your Money or Your Life.
If you haven’t read it, I highly recommend it. You should be able to find a copy at your local library. If you can’t find it, ask your librarian to request a transfer from a library in-network.
One of the main tenets of the book, is that we all have a finite amount of life energy. That life energy is equivalent to our time on this earth or, in other words, the time that we’re alive.
When we go to work to earn an income, we are essentially trading that time for the money we receive from working.
To get the most out of our time, we should strive to make the highest wage, right?
The short answer is yes, but it shouldn’t just be your highest hourly wage. It should be your highest real hourly wage.
Keep reading to learn more.
How to Calculate Your Real Hourly Wage (and Why You Should) Read More »
