Ever wonder how banks survive? After all, they are for-profit establishments. This means that they, like any other company that seeks a net profit, are in the business of making money.
In fact, making a profit is generally the number-one priority for private banks. They have shareholders to impress and make happy, and CEOs who want their multi-million bonuses to go along with their multi-million dollar salaries. So how do they do it?
Simple: they make money of their customers. In other words, they make money off people like you and me. Continue reading
Want to make big things happen? You need to start with some good thoughts.
The power of positive thinking and positive self-talk is real. Thinking positive and good thoughts makes you more productive, more motivated, and more successful as you set goals and take action to achieve them. You don’t have to be overly bubbly or optimistic and have your head in the sand when it comes to facing problems or the bad stuff, but you do want to avoid keeping a steady stream of negative thoughts running through your mind. Continue reading
What a busy week! Between work, blogging and writing, visiting with friends who were in town for the holiday, and two family Thanksgivings, we were going full-speed for the last couple of days. I’m very glad we got to take advantage of one of the biggest benefits of working for someone else – paid days off! – on Thursday and Friday. Long weekends are much appreciated around here as they give us a chance to be productive and they allow for a little bit of down time, too.
Hey, when you work (or play) hard, sometimes you just gotta sleep hard. Continue reading
This post is coming at you a little earlier than normal due to the holiday! As Thanksgiving approaches for those of us in the States, most of us are thinking of everything we’re thankful for and taking some time to express our gratitude. It’s no different in my little corner of the web. This year, what I am most appreciative of is the amount of incredible people I have in my life.
My Other Half
I’ll be honest, when it comes to talking about my husband, I become a cliche-driven pile of lovey-dovey mush. I’ll try to hold it together here for you and tell you exactly why I am the luckiest girl in the whole wide world (come on, you had to let me get one in there). Continue reading
Planning ahead and being prepared is essential for handling year-end bonus checks or any other unexpected income. If you don’t have a plan in place, you’re far more likely to indulge and splurge with your extra money instead of thoughtfully putting it to the best use. Of course, there’s a fine line between establishing a smart plan and getting into the habit of relying on cash that may or may not be there. No bonus is 100% guaranteed, and you should never assume you’ll come into a certain amount of money at any point. So when it comes to bonuses, gifts, an inheritance, or any other “extra” income outside what you pull in from your regular paycheck, it’s important to keep a few things in mind. Continue reading
Even these guys need to save.
Earlier this week, I read an interesting article about an NFL player who was calling it quits. After years of binge drinking, some partying, one incidence of substance abuse, and what sounds like episodes of depression, Tom Zbikowski is walking away from his professional football career. Instead of playing in the pros, he’s looking to start a new job as a Chicago firefighter. Why? Because he wants to, and he can. Continue reading
Have you seen the TV show that aired on NatGeo, Doomsday Preppers? The program profiles Americans and their families who are taking extreme measures to prepare for the end of the world.
If that sounds dramatic to you, you’re not wrong. The people on the show have invested tens of thousands of dollars on enough food storage to last for years, toiletry items and fuel, and many have a cache of weapons. Some have even spent more and purchased remote pieces of land where they’ve built small cabins they’ll “bug out” to and others have gone as far as installing underground bunkers in secret locations.
Preppers have various beliefs as to what will cause the apocalypse. Some fear natural disasters, EMP strikes, nuclear war, pandemics, or polar shifts due to climate change. Others, however, prep because they fear catastrophic financial events: global market failures, hyperinflation, and unrest due to overpopulation and a shortage of supplies. It’s the preppers that go to extremes to ensure their survival should a financial crisis arise that gets my attention every time. Continue reading
One of my favorite quotes about investing and money comes from one of the most instantly recognizable faces on Wall Street, the Oracle of Omaha himself, Mr. Warren Buffett: “Be fearful when others are greedy and greedy when others are fearful.” It’s a great quote because it’s a great piece of advice, and of course because it comes from someone who has had ridiculous amounts of financial success (and that’s putting it a little lightly).
Buffett and all his words of wisdom have inspired countless numbers of people who seek just a fraction of the good fortune he’s had in his long business and investing career, and I believe he makes an appropriate role model for anyone looking to build wealth. There is his immense success to look up to, obviously, but in my mind the fact that he is a philanthropist and a proponent of living frugally might be even more important.
But the thing about Mr. Buffett is that he’s very.. mainstream, you know? Maybe it’s time for a fresh perspective, a new financial hero we can emulate, whose great money habits we can adopt as our own. And wouldn’t it be great if we could discover this new finance guru before anyone else?
Turns out, we’re in luck, because I’ve found the very thing we need to get us through as we continue our struggles with a weak economy and the rising cost of living, and it’s coming at us in plaid: hipsters.
That’s no joke. I firmly believe hipsters should be our new financial role models. Ready to find out why? Continue reading
Happy Veteran’s Day! Thank you to all who have served and are currently serving our country. I thank you for your sacrifices, and appreciate all you do for us.
There’s a wealth of information available to us on the internet. Any topic you can imagine is covered by the vast knowledge the web contains; never before has it been so easy for so many to learn and share new things. However, this also presents a challenge. It can be difficult to navigate through all this information to find pieces of it that are the most important or most valuable. It can take a skilled researcher to find all the relevant bits of the puzzle and then assemble them together in a way that makes sense.
This may be why financial literacy amongst the millennial generation isn’t any better. It takes work and time to figure out something as complicated as money and personal finance – and sometimes, it’s overwhelming trying to understand it by yourself. I wanted to help by composing a list of the twenty things most important for twenty-somethings to know. Once you’ve got these things down, you’ll have a solid base of knowledge and understanding from which to work. Learning the basics if the first step to becoming a personal finance expert – and those basics are all right here. Continue reading
Goals of any kind are important to have, work towards, and achieve. But it can be difficult to maintain the inspiration and the motivation necessary to continue to constantly work for one thing after another. Never is this more obvious than when you don’t have that motivation on your side; when you lose it, things can start seeming pointless, fruitless, or worst of all, impossible.