Articles about Saving Money
Articles about making money
- Formal Education: Can you afford to go to school?
- Student loans: How much and what kinds?
- Working in school: Is it worth the effort?
Articles about investing money
- Banking: It’s time to start shopping for the right bank
- Buffer Zones: Quit living paycheck to paycheck
- Retirement Accounts: Build your nest egg by getting free money
- My beginners guide to the stock market
The following are topics that I am interested in covering at some point on this website. Currently they are simply article stubs. If you can think of other good topics or have ideas for the topics I have listed please feel free to email those suggestions to me.
Debt Management: The first thing you need to do if you want to start accumulating wealth is minimizing your debt. Why pay 18% monthly interest on a credit card when you could be gaining 10% by investing all that money in stocks and bonds? It just doesn’t make any sense to have credit card debt, but still the average American has over $2000 of it.
Housing: You probably put more of your paycheck into your house than any other single item you own. That’s great, but it’s time to start saving money. Owning a home can be one of the best ways to save money each month. Instead of throwing your money away, paying rent to someone who is enjoying your money, you can be paying yourself by building equity in a home.
Cars: You probably spend a lot of time and aggravation with your car too. Here are some pointers on how to get a good deal on the purchase of an automobile and how to save money on its maintanance.
Health: By giving up a few of your vices you can save hundreds of dollars every year. Exercise and you’ll live a more fulfilling life and cut down on medical bills.
Insurance: Hopefully another monthly expense you have is insurance. You need car insurance, home insurance, life insurance, just to name a few. There are a few small things you can do to understand what insurance you need and how you can pay less for the coverage you already have.
Food: Most Americans eat out nearly 50% of the time. That is too much. By taking a bag lunch to work and skipping that morning latte you can save hundreds each year.
Entertainment: My favorite free resource in the whole world is the public library. Not only are there books that you can check out, but there is also music, movies, tickets to events, and even toys for your kids. What a place.
Taxes: No one likes learning about taxes, but understanding taxes can save you thousands of dollars each year. It really pays to know how to get the tax breaks you already qualify for.
Job Market: Most people make money by going to work five days a week. This is a great way to make most of your regular income. However, studies show that those who enjoy their work stay there longer and do a better job, often times resulting in more income.
Job Outlook: So you already have a job or are nearly ready to decide upon a career path? It might be nice to know where the experts expect the money to be over the next few decades. Think technology and baby boomers. The medical, educational, and financial industries should show substantial growth in the next several decades.
Hobby Jobs: If you want to really get ahead in your financial life it is a good idea to have multiple streams of income. That can include stocks and bonds, real estate, royalties, and/or a second or hobby job.
Real Estate: Many experts will tell you that the real money is in real estate. That has certainly been true for many of our countries millionaires. Making money in real estate starts with your own home and then trickles down to investment properties and possibly commercial properties as well.
Inheritance/Lottery: A great way to make a lot of money and fast is to inherit it, win the lottery, or winning both showcases on the Price is Right. Unfortunately, most of those events will never happen in our lives.
Formal Education: Nearly every study I’ve ever looked at shows that it is more likely that you will have a higher salary if you get more education. So do it. The more eduaction you get, the more money you can potentially make. If you’re already into your career you can still take classes to keep your skills sharp.
Financial Education: One thing we don’t teach our children nearly well enough is how to manage their money. The sooner we learn how to make, save, and invest our money so that it will make more money, the better off we’ll be.
How to invest your money in the stock market, bond market, commodities market, in mutual funds, real estate or business ventures. The basics of banking, retirement accounts, and the financial benefits of living healthy and having children.
Stock Market: Traditionally when we think of investing we think of the stock market, wall street, and losing money. It doesn’t have to be that way. The key is understanding how to invest in stocks and what you need to do to make money in the long term.
Bond Market: A good way to diversify and give stability to your portfolio is by investing in secure bonds. Bonds don’t yield as much interest as stocks, but they are a safe way to invest your money.
Commodities Market: When the stock and bond markets are down the commodities market seems to nearly always be up. People need “stuff.” By investing in commodities you balance your portfolio, increasing the chances of making money even when the stock market is down.
Mutual Funds: The easiest way to getting a start in your investment portfolio is by going with mutual funds. Index funds will return you what the market is making, usually coming out ahead of most brokers. Mutual funds are a good way to get consistently high returns over the long run.
Banking: By knowing a few things about banks you can improve your financial health dramatically. First you should shop around and use the best banks available (hint: this might mean doing some banking online). Once you’ve found a bank, put your money in the right places.
Retirement Accounts: If you are not sinking money into a retirement account, you should be! In many cases consistently socking money into a 401(k) or similar account is a chance to make free money (company matching, tax incentives, etc). You should be doing this.
Real Estate: Rich Dad Robert Kyosawki, as well as many other experts, will tell you the best way to riches is through real estate. Real Estate is a great way to bring in passive income (through rent) and will net you a bundle when you decide to sell.
Entrepreneurship: If you want serious riches you need to be willing to put forth some serious work and one of the best ways to do it is by starting your own business. Another possibility is by investing in other peoples’ businesses. IPOs, venture capital, and loans to buddies are just a few ways to successfully invest your cash.
Buffer Zones: One fear common in many homes is that of not being able to pay the bills. This is remedies by setting aside some of your money for a rainy day. I call this creating buffer zones.
Children: This may seem like a silly seem to put under investments but it is possibly the most important one. Having someone to share your wealth with will bring more satisfaction and joy than any material objects ever could.