How to make your dividends automatically work for you with DRIP investing. Continue reading DRIP Dividend investing: When life gives you lemons, grow a lemon tree
Most budgeting systems are time consuming and complex. The beauty of the rule-of-thumb budget is the speed and simplicity of it. All you need to know is your after-tax income. Once you have determined your after-tax income, you simply allocate it as follows: 50% towards your necessities 30% towards your wants 20% towards your financial goals Next is to define the categories: Necessities, Wants, and … Continue reading Simple Budgeting: The 50/30/20 rule-of-thumb budget
So called financial gurus tell you that if you want to be rich, quit eating avocado toast and drinking Starbucks. Admittedly, this does remove expenses that may add up over time. However, that frugality alone won’t make you “rich.” Rather, understanding the ideas behind the “avoid paying $10 for avocado toast and $5 for coffee” is what will make you handle your money better and … Continue reading Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?
The CARES Act The Coronavirus Aid, Relief, and Economic Security (CARES) Act, suspended principal and interest payments on federally-held student loans from March 13 through September 30. Right now, your interest and payments are suspended automatically. However, this only applies to federal loans, not private student loans. Other loans, such as those Federal Family Education Loan (FFEL) program are owned by private companies; however, those … Continue reading No student loan interest: Take advantage of this opportunity!
Pas-sive – not reacting visibly to something that might be expected to produce manifestations of an emotion or feeling. Dictionary.com In most areas of life, being active is seen as the optimal choice. “Pursue your dreams.” “Take life by the horns.” “Don’t sit back and wait for life to happen to you.” However, when investing, being active can be a costly choice. Common Misconceptions: Often, … Continue reading Passive investing 102: What is passive investing?
“Back in my day,” was a phrase used by our grandparents to describe (1) how much harder things use to be; (2) how much better they had it; or (3) somehow both harder and better things were back in their day. One thing that the “Greatest Generation,” the generation who fought in World War II, had was a great distrust of banks and doing anything … Continue reading Budgeting 105 – DIY – Use the coffee can
Give every dollar a purpose. It sounds simple, but is it? Financial guru and credit card killer Dave Ramsey has his method of helping people master their finances and get out of debt – the “Baby Steps.” Through these steps, people are led to financial peace and mastery of their money. The first thing you must do to begin your journey to financial peace is … Continue reading Finance 103 – Budgeting: Dave Ramsey’s ‘EveryDollar’ method
During these turbulent times it is easy for investors to make poor decisions, such as changing your investing strategy. In their recent newsletter, Edward Jones said that the “hardest part of investing is the one we have the most control over – our emotions.” Historically, people make the wrong investment decisions because they act emotionally. When the market crashes, the best option is to buy … Continue reading Passive investing 101 – Surviving and thriving in chaotic times
I found that if you have a goal, that you might not reach it. But if you don’t have one, then you are never disappointed. And I gotta tell ya . . . it feels phenomenal!” ~ Peter La Fleur Unlike the advice of Peter La Fleur in “Dodgeball,” you need to have financial plans to guide your life. Has your life taken a left … Continue reading Money matters 101 – Setting financial goals and rolling with the punches
Stash – Budget, Invest, and Plan Stash is a more user-friendly app and focuses on educating investors on how to best pick investments and balance a portfolio along with other financial advice. The app is not as straight forward as Robinhood where you click and buy; however, Stash offers DRIP and automated investing. The cost of Stash varies based on what you are using it … Continue reading Investing 105 – It’s automatic, it’s systematic, it’s hydromatic: Investing with apps – Stash