Nothing builds wealth like investing for your future. The best time to start is while your young, as this gets you the longest possible amount of time for the interest on your investment to start compounding interest, which is the easiest way to start growing your money. Other important things to keep in mind while… [Read More] How to Invest Your First $500
Bad financial advice is unfortunately all-too common, and often difficult to spot. Always be critical of financial advice you hear — as following incorrect advice can lead to serious issues with your finances and your future. One common myth is not to worry about your student loans, or carrying a credit card balance. In fact,… [Read More] 5 Bad Pieces of Financial Advice You Need to Run From Now – Frugal Rules
For many of us the acquisition of revenue is a never-ending loop. We acquire things and we use the monies we earn to pay for them. While this generally keeps us afloat, perhaps affording a reasonable day-to-day existence, it does not allow for bigger expenses, the paying of off large debts, or the acquisition of… [Read More] How To Invest: The Smart Way To Make Your Money Grow
Although it seems like the “simple” trick to investing – buy low and sell high – should be easy to do, it’s often quite the opposite. There are a few reasons why. The first is that we often do not know when the market is low – as these kinds of lows are frequently short… [Read More] Why “Buy Low and Sell High” is so Difficult to Implement – Pragmatic Capitalism
Contributing to a Roth IRA is a great decision because you receive a tax break just for being responsible and saving for the future. To maximize this benefit, contribute up to the annual maximum of $5,500, if you’re under 50. If that’s too much for you, contribute what you can afford after you’ve paid into… [Read More] Retirement planning: How much should I contribute to an IRA — and how often?
Social science and folk wisdom have both noted that living in close proximity to people with a lot more money than you tends to encourage spending more freely and recklessly to “keep up with the Jones.” Going by the (mostly true) old observation that we are an average of our 5 closest friends, just changing… [Read More] Spending Speed Bumps And Your Future Self