Common Sense Stuff That Nobody Does – Back to Personal Finance 101

common sense stuff that nobody does

Don’t stick a fork in a power outlet. Don’t treat a construction site as your personal jungle gym. And don’t ever park your car on train tracks. This is pretty common sense stuff, right? If you want to stay alive, try to avoid doing stuff that’ll kill you. On the same token, if you want to have some money at some point in your life, avoid the stupid stuff that will eventually make you lose it.

Common Sense Stuff That Nobody Does – Back to Personal Finance 101

Credit cards, 0% interest, 0% down, options trading… personal finance has gotten pretty complicated, hasn’t it? Fifty years ago, common sense in finance was easy, because it was pretty much the only way to live!

Back then, you saved up money, paid cash for stuff, and brought it home. If you wanted to make an investment, you physically handed money to the . . . → Read More: Common Sense Stuff That Nobody Does – Back to Personal Finance 101

50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]

pay off debt faster

Laura Harris is a fascinating person with an even more fascinating story – debt free by 25, a stay-at-home mom on a super low income, and a self-made success in the freelance writing industry… When she came to me with the idea of writing this post, there was absolutely no way I was going to pass her up. Practical ways to pay off debt faster? Uhhhh, yes please. This is a topic that we’re all craving, and given the quality of the content below, I wouldn’t be at all shocked if this post is soon read by thousands (maybe even hundreds-of thousands) of people.

In 2012, my husband and I became debt-free. What we thought would take seven years only took two. We were shocked. It wasn’t because we made more than the average family. We learned if we wanted more freedom, we had to find as many ways as . . . → Read More: 50+ Practical Ways to Pay Off Debt Faster [Free Tools Included!]

What if You Save a Million Dollars For Retirement? Will It Be Enough?

save a million dollars for retirement - age 55

Save a million dollars for retirement…it’s everyone’s dream, right? Man, if you had a million bucks in your retirement accounts at retirement, think of what you could do!

You could:

Take exotic vacations every month Go out to eat without ever thinking about the bill Buy lavish presents for all your friends and be the most beloved old people on the planet!

Well…maybe you could and maybe you couldn’t. It basically all depends on your age…

What If You Save a Million Dollars for Retirement? Will It Be Enough?

What do I mean, “It depends on your age?” What does age have to do with it? A million bucks in a million bucks, right?

Wrong.

Because of constant economic growth and the establishment of monetary policy (don’t know what monetary policy is? Here’s a link. It’ll solve your sleeping troubles too… ;)), citizens all around the world experience a . . . → Read More: What if You Save a Million Dollars For Retirement? Will It Be Enough?

When it Comes to Your Life, Don’t Count on Luck

don't count on luck

Lucky numbers on a jersey, a rabbit’s foot key chain, or perhaps taking a chance on a wishbone at Thanksgiving – all good luck charms people use to bring good fortune and ward off bad luck. But not everything should be left to luck. Some things in life need serious planning with a bit of professional help. One of those things is life insurance.

When It Comes to Your Life, Don’t Count on Luck

Your life should never be left to chance, especially if you have a family or a business. Here are a few common misconceptions about life insurance, and important information you may not know.

I Can’t Afford It

With life insurance policies, there is no standard that applies to everyone. There are different insurance policies available to suit your budget and your needs. A little shopping around is all it takes to find the policy that is . . . → Read More: When it Comes to Your Life, Don’t Count on Luck

6 Reasons You Should Always Have $1,000 in the Bank

$1,000 in the bank

What do most people do when they have a $1,000 emergency? Based on my observations over the years, they…

Set up a Go Fund Me account (eye roll…so because you don’t manage your money well and now have an emergency, you think I should foot the bill for you??…I don’t think so) Put the emergency expense on their credit card and then try to pay it down over time (which never works because inevitably another emergency pops up before you can…or you know, you need to fund a vacation or something) Borrow the money from a family member and pay it back as quickly as possible…as if there’s not already enough fuel there to start a family feud Scrimp and save to come up with the money quickly

Or, people simply take $1,000 out of their savings account, pay the bill, and get on with their lives. Obviously this . . . → Read More: 6 Reasons You Should Always Have $1,000 in the Bank

My Personal (and Spiritual) Beliefs About Wealth – What About You??

beliefs about wealth

I’m a Christian…and that’s where the topic of wealth can get really confusing…

Some Christians believe that it’s almost a sin to create wealth, because by doing so you’re hoarding money for yourself instead of giving it away to the poor and needy. Therefore, if you’re rich, you must be selfish…and you may even be going to hell…

Other Christians believe in something called the ‘prosperity gospel‘, which basically says that if you tithe regularly and continue to have faith in God, you’ll be rewarded with great financial riches. Something like…give away $1,000 and God will bless you with $10,000.

And this is why most people don’t like to talk about money…because beliefs about wealth – even among one religion – can be polarizingly opposite from one another!!

My Personal (and Spiritual) Beliefs About Wealth

This post is going to get a little personal (as you may have already gathered . . . → Read More: My Personal (and Spiritual) Beliefs About Wealth – What About You??

How (and Why) to Reward Yourself While Paying Off Debt

reward yourself while paying off debt

If you’re on a debt payoff journey, you may have heard of the term gazelle intense. Focus so hard on paying off your debt, no treating yourself, and living like no one else now so you can live like no one else later. While being intense is important, that doesn’t mean you can’t reward yourself while paying off debt. Here’s how (and why) you should reward yourself while paying off debt.

How (and Why) to Reward Yourself While Paying Off Debt

This article was written by Kimberly Studdard, one of our fabulous staff writers!

Set Goals

Let’s say you’re $50,000 in debt. If you set goals in $5,000 increments, you’ll be able to treat yourself every time you pay off $5,000. This will keep you motivated to hit those $5,000 goals, and give you something to look forward to when you reach them.

You can create the goals to . . . → Read More: How (and Why) to Reward Yourself While Paying Off Debt

When (and How) to Start Investing For the Short Term

start investing for the short term

Life isn’t all about retirement. So many people save and save and save, and when they finally get a big enough nest egg together to retire, they realize that they’re too old and decrepit to do anything. They can’t really travel, they’re certainly not going to hike through the mountains, and that plan they had to scuba dive the coral reefs…that ain’t happening either. After having socked away thousands of dollars into retirement at a young age, I’m a firm believer not just in long-term retirement investments, but investing for the short term as well.

When (and How) to Start Investing For the Short Term

Just recently, I wrote a post about living the life of your dreams today. It’s definitely a good read if you have a few extra minutes, but if you don’t, here’s the gist of it:

The future you is laying on her deathbed…and has regrets… . . . → Read More: When (and How) to Start Investing For the Short Term

The Key to Start Living the Life of Your Dreams Today

start living the life of your dreams today

What is it you’re dreaming of? A massive house? An $80,000 Porsche SUV? An entire room dedicated to your shoe collection? You might think these are your dreams come true, but I highly doubt it. If you want to start living the life of your dreams today, you’ve got to think more about the end and less about the present.

Related: What If I Spent My Money Life 90% of Americans?

The Key to Start Living the Life of Your Dreams Today

“Derek…what the heck are you talking about?…”

Too deep too soon? I get that a lot. Let me back up and paint you a picture instead.

You’re 92, and Today is Your Last Day on Earth

You’ve been living on this earth for 92 years. Today, you’re not your typical self. Your skin is a bit grey, you can barely move, and you just can’t seem to catch . . . → Read More: The Key to Start Living the Life of Your Dreams Today

Am I a Hypocrite? We’re Going Back Into Debt

back into debt

I’m dead serious. This isn’t a guest post where someone comes along and rants about good debt vs. bad debt. This is me, Derek Sall, and all the reasons why I’m about to go back into debt after 3.5 years of complete debt freedom.

Am I a Hypocrite? Why We’re Going Back Into Debt

“Whoa, Derek. You just blew my mind a little. You, Mr. No Debt, are talking to the banks about taking out a loan? What happened?”

I know, I know. Never in a million years did I think I’d write a post that was titled, “We’re Going Back Into Debt”… I vowed to myself that I would never take on debt again. But you know what? This site is called Life And My Finances for a reason. Not every decision can be made based on financial common sense. Surprisingly enough for some of us math nerds, life . . . → Read More: Am I a Hypocrite? We’re Going Back Into Debt