Stock Speculating Strategies You Should Avoid

Just because you have money in the stock market, that doesn't make you an investor as defined by Benjamin Graham. Graham made an important distinction between an investor and a speculator. In a prior post, we looked at the traits of an actual investor. Basically, an investor looks for safety of principal and an adequate return. A speculator in everybody else. Although speculating isn't … [Read more...]

Nine Traits of an Intelligent Investor

When it comes to building wealth through investments, I can think of few people who are better than Warren Buffet. After all, I don't think you become the third wealthiest person in the world by accident. You need to know what you're doing - and Warren knows how to invest. Have you ever wondered where he learned his craft? If so, one of the people who had the greatest influence on his life was … [Read more...]

10 Ways to Save on Laundry Costs

10 Ways to Save on Laundry Costs If you live in an area with lots of sunlight, ditch the dryer altogether and dry your clothes outside. We've been doing this for a few years now, and are very happy with the results and savings. Try to wash your clothes only when you have a full load. If you don't have a full load, use the machine's water level adjustment feature to save energy. Use hot … [Read more...]

Debt and the Opportunity Costs of Not Paying it Off

When you make a decision to get into debt, you're also making a decision not to do many other things. Here are the three biggest opportunity costs of not paying it off. Opportunity Cost #1 - Your Future Retirement This cost will affect the day-to-day existence of possibly a third of your whole life. Some people may think that since retirement is so far away, they don't have to be concerned about … [Read more...]

4 Debts You Should Try to Avoid

Excessive use of debt can be a major hindrance to your financial independence. Although sometimes unavoidable, here are four debts you should try to avoid as much as you can. Credit Card Debt Most of our debt problems come from the overuse or misuse of credit cards. Here are some interesting stats from the Federal Reserve's latest Survey of Consumer Finances for 2007. 46% of families have a … [Read more...]

4 Tips to Pay Off Your Debt ASAP

I don't think I know of anyone who likes being in debt. Do you? If you, or someone you know are trying to get out of debt, here are some ideas that will help. Prioritize The first thing you should do is figure out all the debts you have. Which debts have the highest interest rates? If it's from a credit card, call your creditors and work on getting the rate reduced. If they won't do it, tell … [Read more...]

Using the Time Value of Money to Inspire You to Save

What would you like to save for? A nice retirement? Dream vacation? Capital to start a business? Do you find it difficult to save money? If so, maybe it's because you don't realize the power of saving consistently over time. But once you are able to grasp the power of this, you just might be more willing to make saving a regular habit. What is the Time Value of Money? As one of the most … [Read more...]

Using Financial Ratios To Gauge Your Financial Health

How do you know if you're doing well financially? Can you see warning signs that indicate you may in potential trouble? Financial ratios can be used to understand how you're currently doing with your money. This is important, because if you don't know where you are currently, it's difficult to figure out how much more work you need to do to reach your goals. Here are 3 ratios that give you an idea … [Read more...]

Understanding Your Social Security Statement

Do you wonder how you'll manage your money when you retire? If so, your Social Security statement can be a helpful tool in planning your family's finances. Have a taken a look at it recently? A Bit Of Background Information And History Since 1999, statements have been automatically mailed to all workers over age 25 who haven't yet received benefits. The statement is mailed to you about three … [Read more...]