Building Wealth Starts When You Stop Making Poor Financial Decisions

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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 […]

3 Budget Negotiations That Saved Us Money : Our March 2016 Budget Review

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YOUR MONEY WON’T WORK BY ITSELF SO GIVE IT A PUSH   Treat your finances like you own a company and you are the CEO. Budget negotiations should be part of everyone’s financial plan not just the government and business owners. You may be working for someone else making them rich but when it comes to your money there are ways to achieve the same successes but on a personal level.  It’s amazing how many people take their budget for granted and accept the bills they are given instead of putting the green light on budget negotiations. You’ve worked hard for your money now make your money work for you. Don’t let your cash float away without seeing how much you can save. You don’t have to be an outspoken customer to get a better deal. Before you attack (take that with a grain of salt) you must be armed with details and the outcome you’d like from your budget negotiations. If you need to balance your budget but you’re off by $50 try to see if you can get your bundled-telecommunications services lowered. Make a deal. The top way to trim budget expenses is by negotiating the interest rates […]

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

MONTHLY NET WORTH UPDATE

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 […]

How to turn bad habits into positive goals: PF Weekly grab a brew #77

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LOOK UP AND BE AWARE   I don’t care who you are we all have bad habits in our lives whether it be smoking, drinking, drugs, over-spending, laziness, etc.  The list of bad habits can go on and on and what I never gave much thought to was how we tend to focus on the “good habits” rather than the bad habits. Why? We like to feel better about ourselves so focusing on the good and forgetting about the bad habits is much easier to do. I don’t know the exact psychology behind the way the human brain works but when I read an article about what Dean Hovey who met with Steve Jobs in 1978 to design the first mouse for the Apple computer had to say, it made me realize that I needed to make small changes in my life. To paraphrase Hovey felt that although we do something over and over it doesn’t necessarily mean we are aware of our surroundings. Interesting, I thought but true. He used an example of riding his bike to University every day and not being able to recall the roof’s shape, colour or composition when his Stanford University professor asked him […]

Would you quit your job to travel the world for free? : PF Weekly grab a brew #69

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AROUND THE WORLD   If you were wondering how to travel the world for free you don’t need much but a desire to get to your next destination, patience and elbow grease to make extra cash along the way. This morning I read about a couple who left the USA to travel to Nicaragua for a few years to experience the lifestyle and in search of comparable healthcare in the USA. I thought it was brilliant that they would take such a chance as to pick up and move from where they were comfortable to a place where they had to learn from the bottom up. They seem to love it in Nicaragua and of course have learned what they can and can’t do but for the most part they said living was much cheaper. Who could complain with a beer for under a $1.00, right? The article reminded me of my friend Pauline who blogs at Reach Financial Independence who now lives in Guatemala and is doing very well for herself. You can follow her adventures on her blog and she even wrote a lovely guest post here at CBB about making the best of what is available. Sometimes […]