Twenty Year-Old Father Taught Me About Financial Responsibility In 30 minutes

I DON’T WANT TO BE BROKE LIKE MY PARENTS WERE WHEN I WAS YOUNG   Financial responsibility follows you for life and one young father shares his life plans with me and with two powerful words “He wants” becoming the driving force behind his journey in all aspects of life. Have you ever asked yourself, “What would you do differently if you could go back in time?” I have, and knowing what I know now there would be some changes to the way that I save money, earn money and invest it. My life was automated because I was so focused on school and working that even I may have paid more than I should have at times. Financial Responsibility was nothing my fellow University friends would think about while in school. It was no big deal to blow money down at the pub or to take a girl out on a lavish date with all the trimmings. Money was no object when it was given by the bank of mum and dad. When I was in my early twenties I bought my first house then sold it to buy a bigger house. I wanted in the real estate game […]

Do you know a credit card debt victim? : The Saturday Weekend Review #111

WILL ANYONE LISTEN?   We all know someone who constantly whines about money and plays the credit card debt victim role yet does nothing about it. Having credit card debt and struggling to pay it off is a stressful place to be for anyone especially if you are already on a tight budget. I certainly wouldn’t want to be that person but I would give up whatever it takes to get out of it, no excuses. One of the main reasons people stay in debt is because they spend more time trying to justify why they can’t get out of debt rather than doing something about it. I know one woman who started cleaning houses on the weekends when the kids were with their father just to get rid of credit card debt she says she created when they split up. Some people might think that I don’t know what it’s like to have limited income or debt so how could I possibly share my thoughts on the topic, but think again. I may not have had credit card debt before but I have had debts in the form of  a mortgage, education, vehicle, etc. I even owed my parents […]

Great investors know the best financial advisor is YOU

A Beginning Investors’ Story   Investing on your own can seem scary. The world of finance appears to be, at least in the beginning, a complex maze of numbers and movements, leaving new investors wary of going at it alone. I used to think of the finance world as a bunch of slick-haired Pat Riley types yelling ‘buy’ and ‘sell’ across a crowded room. Heck, even a stock ticker bar has confusing hints of the matrix if you don’t know what you are looking for. The good news is, becoming an investor isn’t half as scary as it seems with a bit of education and a splash of gumption. The really good news is that investing on your own can save you a ton of money over the course of your lifetime without adding additional risk. In a post-pension world there may not be anything more worthy of your time. So in this two-part series we will cover what investors need to know before they start, the 3 most important investment statistics, and 3 critical pitfalls to avoid, but first a quick story. When I began investing on my own I was only 13 and had yet to develop that […]

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