On my 20th birthday, I opened my first mutual fund. As a part-time night teller earning $8.25 per hour, I was so proud of myself. Things didn’t go quite as I’d planned them, however. Throughout the next decade, I learned many investment lessons from my own choices and actions – as well as others’.
I wish I could say all of the lessons were positive. But, mistakes are excellent teachers, too. Doggone it.
So, here are some things I learned. You may agree or disagree with this list. It’s likely your own list would look different. That’s alright. Once you’ve read through my list, I’d love to hear your thoughts in the comment section below.
3 Major Investment Lessons I Learned In My 20’s
First of all, should investing even be on your radar when you’re in your 20’s?
ABSOLUTELY. I may not have handled it perfectly, but I plan . . . → Read More: 3 Major Investment Lessons I Learned In My 20’s
Do you think it’s possible to truly feel financially empowered while you’re living on a small income? Does more money equal more power over your own life? I would argue that it’s never that cut and dry. The breakthrough in my financial story wasn’t the day I doubled my income. It was the first big shift in my mindset.
Broke Vs. Poor
“Being broke is a temporary situation. Being poor is a state of mind.” – Mike Todd
When my husband and I agreed to transition from a dual-income to a single-income family shortly before our second child was born, we lived on $36,000 for the next year. Sure we were glowing with adoration for our newest bundle, we were out of debt, we had an emergency fund, and we were glad to have one parent at home full-time with the children, but living each month on $1,600 . . . → Read More: How to Feel Financially Empowered on a Small Income
This post has been written by Amanda Abella – a fabulous writer, speaker, and financial coach!
I was recently out with friends and I mentioned how I spent my holiday weekend messing around with Pinterest in an effort to get more traffic to my blog and therefore increase my chances of making affiliate sales.
“Don’t you ever take a break?” one of them asked. The answer is that I do take breaks. Lots of them, actually. However, I’ve made it a habit to always be on the lookout for ways to make more money.
How to Always Find Ways to Make More Money
It’s not necessarily because I want to amass millions (though that would be cool), but because I actually enjoy learning about and implementing different ways to make more money. Additionally, entrepreneurship has taught me that you can always make more money if you’re up for it.
Here’s . . . → Read More: How to Always Find Ways to Make More Money
If you follow and read personal finance blogs, chances are you know about side hustling. For those who don’t know, having a side hustle can help you bring in extra income, pursue a passion, and even get out of debt. But how do you side hustle when you don’t know where to start?
Get A Part Time Job
One of the easiest ways to start side hustling is to get a part time job. There are so many companies that are willing to be flexible and let you work as little as you want. Now, you can get a job with a company like McDonald’s, or you may want to work towards a dream and get a job in an industry that you see yourself in.
This can be anything from getting a job at a clothing store (if you are interested in fashion merchandising) to a coffee . . . → Read More: Start Side Hustling, Even If You Don’t Know How
You have more power than you realize when it comes to paying off debt. Much of the time it is the “wants” we don’t like giving up in order to get out of debt faster (not always, but in my experience, more often than I’d admit). Creature comforts like cool air conditioning all summer long are much harder to give up than buying a generic brand of cereal versus something name brand.
But it’s time to get radical. Think about this question: What’s in it for me? The faster you pay off your debt, the less money you’ll pay in interest this year, the sooner you’ll free up the money going toward monthly payments, and the more disciplined and less stressed you’ll be with your wealth in the years to come.
We may not be the generation that grew up walking three miles to school in snow up hill both . . . → Read More: 5 Radical Ways to Get Out of Debt Faster
I’ve been blogging since 2006, but it wasn’t until 2015 that I discovered a growing market for people who want to make extra money as a freelance writer.
My background is in banking and financial coaching. The more I blogged about personal finance (including my own debt-free story), the more I realized it resonated with people.
The same thing happened when I became a mom three years ago and started blogging about parenting and diapers and sleep deprivation. That clicked with moms.
If you have an area or two in which you have a great deal of insight or experience, you have a command of the English language, and you’re willing to put in some hard work, you could make extra money as a freelance writer.
Since transitioning from a hobby blogger to a freelancer, I’ve been featured on The Huffington Post, The Penny Hoarder, Rockstar Finance, The Dollar Stretcher, . . . → Read More: How to Make Extra Money As a Freelance Writer
There’s a difference between being financially uncomfortable, being comfortable, and reaching financial freedom. And Brian Robben is committed to reaching financial freedom and teaching others how to do it along the way. Today, I interviewed Brian who recently wrote the new book Freedom Money.
Debt is often a roadblock for many people trying to get rich. What are some specific tips you have to destroy debt?
I 100% agree that debt needs to go if your goal is financial freedom. Debt is vicious and can ruin your life if it gets too much power over you.
Because of that, if you have debt then it’s crucial you aggressively attack your debt.
Below are some tips I recommend for paying off student loans, credit card debt, or any other debt:
Pay every two weeks instead of monthly. If you do this you’ll actually make 13 . . . → Read More: Freedom Money – The Road to Financial Freedom
“What if I told you that in just an hour or two I could share with you a system that would slowly and surely transform you into a millionaire?”
Sounded like a bad sales pitch to me…like I was going to have to dish out $200 to a pyramid scheme before I could receive my millions. In fact, I almost took the CD out of our car stereo right then and there. Thankfully, I pressed on and let the man talk.
Liz and I were on our way back from Tennessee. It was a fantastically relaxing trip, filled with reading, hiking, and many daytime naps. We desperately needed it and were so happy we made the trip. On the way back, I decided to turn my brain on again to learn a little something about our personal finances. I popped in the book on CD, “The Automatic Millionaire” by . . . → Read More: How to Become an Automatic Millionaire
Have you ever wondered if you’re getting paid enough at work? Are you working tirelessly for a wage that’s far lower than it should be? And how can you know? Years ago, this might have been difficult. You’d have to network, ask probing questions, and consult with many people to get an understanding of the average wages out there that relate to your field and what you do. Today, the process becomes much more simple.
Are You Getting Paid Enough at Work?
If you’re curious if you’re getting paid enough at work, take these steps to zero in on your rightful wages.
1) Search Your Company Wage Averages per Title
Thanks to glassdoor.com, you can pretty much see the average wage of any position at any company. Here’s how they do it. You enter the site, looking for a particular job description and the typical wage. They might let you . . . → Read More: Are You Getting Paid Enough at Work?
42% of college graduates never read another book after graduation. And people wonder why they are poor. Correlation or causation? My money is on causation! If you want to constantly be growing your net worth, you’ve got to keep growing your mind.
Do Rich People Read a Lot?
One of my goals for 2016 is to read 24 books. I believe 24 is attainable for just about anyone. I work a lot more than the average person so I feel 24 is doable for just about everyone. In addition to reading these 24 books, I also watch educational videos and read educational blogs.
So what 24 books am I reading? Despite possibly coming off as a lunatic, I’m still going to use this phrase. I read self-help books. I began doing this about 1.5 years ago and my life has changed dramatically since then. These books range . . . → Read More: Do Rich People Read a Lot?