Building Wealth Starts When You Stop Making Poor Financial Decisions

You Don’t Need To Be Embarrassed By The Way You Manage Your Money If You Do It Right.   Building wealth seems to be the target for just about everyone unless you don’t mind struggling for money to pay the bills and retire comfortably. At least once a week I get an email from a fan who tells me they are tired of being broke, have lots of debt and want to start building wealth now rather than later. Not only is that a smart idea it’s the beginning of a journey back to square one where you get to clean your financial slate and do it right. Are you embarrassed by the personal finance decisions that you are making? You should be if you’re making simple mistakes that are causing you to spend more money than you should be especially when you have technology at your finger-tips. Rate comparison for everything is available to us but when it comes to financial rate comparison it takes a back seat to everything else. Related: Stop blaming the government for all of your debt problems. Not having money and surviving on a low-income or struggling with a high debt-ratio can be embarrassing […]

How financial management led this man to pay off $20,000 of debt : June Net Worth Update 2015 (+0.22%)

YOU ALWAYS HAVE A CHOICE   When it comes to financial management of your money there is no excuse about not knowing why you are in debt, besides the obvious. Calculating personal net worth is a controversial topic in the personal finance world only because everyone calculates their worth a little different. Some people may add liquid assets such as “stuff” they have acquired over the years as well vehicles and their primary residence. Others may not.   Financial management starts now   Whether you hire someone to manage your finances or you do all the leg work and management yourself you know that this task never ends. Money will always be a mission on the monthly “To-Do List” no matter how rich or poor you are. It’s been years now that my wife and I have been calculating our estimated personal net worth but we never quite gave much thought to the motivational aspects of knowing “What am I worth?”. What I mean is how taking charge of our finances have influenced our mindset. Financial management of our assets and liabilities didn’t come into play until we bought our first house together after we were married BUT we could […]

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