I still remember my first experience with term life insurance. It was when I started my first “real” job out of college working for a large corporation. During the new employee orientation period, term life insurance was offered as one of the enrollment options for my health care benefits. Back then I didn’t know […]
Regardless of which survey you read, most indicate that the average U.S household struggling with credit card debt is carrying a revolving credit card balance of over $6,800 (nerdwallet 2018). This translates to over $434 billion in consumer debt in the United States. The financial costs of credit card debt are obvious. Paying more […]
It’s not really well known where the term “Cash is King” came from. If you Google it most of the references you will find will be in relation to running a business or investing. From my own personal finance experience, I have found the cash is king concept an important perspective. I guess I […]
Finding good practical advice on how to pay off your debt is easy. A simple Google search will get you a whole bunch of great articles. Including the ones, you can find here on FTP. However, what you won’t find often enough is articles on what’s NOT important when you’re paying off debt. The things […]
In my previous article, I discussed three common limiting beliefs that will either put you in debt or keep you there. The beliefs that… Making more money is the only way to get out of debt. Taking out a loan is the only way to buy a vehicle. Not being very good with money […]
Robo-advisors and automated investing platforms are becoming one of the most popular ways to start investing. It’s estimated that there are currently over 100 robo-advisor and automated investing platforms operating in the United States. If you’re new to investing and finding all the terminology a bit confusing you’re not alone. You may find yourself […]
One of the greatest misconceptions surrounding investing is that it requires a large sum of money to get started. And typically that misunderstanding is then followed by fear. The fear that if you invest all your hard earned money, you risk losing it due to a downturn in the market. However, if you’re new to […]
So you’re looking at your monthly payments, a car loan, a student loan and a bunch of credit cards. And you’re wondering how do I get out from under all this debt? How do I lower my monthly payments? You’ve heard of this thing called a debt consolidation loan, and your wondering, is debt […]
My dad was an engineer for over 40 years. And like most engineers, his perspective when it came to building, fixing, or maintaining anything was to do it himself. Growing up, I watched him maintain the family vehicles, everything from minor maintenance to major repair work. He understood how to make a car last […]
I participate in a number of online question and answer forums that cover a host of personal finance topics. In general, individuals write in requesting answers to their topic and everyone else chimes in with their perspective. Over the last couple of weeks, there were a couple of instances where the topic of discussion […]
Are you struggling with a mound of debt? Are you trying to save money? Sick of living paycheck to paycheck? If you’re finding that taking control of your finances is a challenge, it may be that you need to start letting go of the past. What if it was possible to take control of your finances […]
On a day to day basis, most of us tend to believe we control our destiny. The jobs or careers we pursue. The relationships we seek, how we raise our children. And of course, managing your money, and learning how to improve your finances. When we think about improving our finances, we tend to think […]
Are you wondering why you need an emergency fund? I am sure you’ve heard it many times before, it’s considered one of the most important aspects of successful money management. An emergency fund is where you stash cash so you’re prepared for those unexpected emergencies that life throws at you every now and then. […]
I was recently reading some posts on Reddit on how to stop using credit cards. Some individuals discussed how they benefit from credit card use, others explained how they don’t trust themselves with credit cards. In classic Reddit fashion, the discussions were direct and spirited. Debating the pros and cons of credit card use is […]
I opened my first online brokerage account over 10 years ago. It was through my local bank. They were offering 100 free trades a year if I linked my checking account with their brokerage services. I had always wanted to open a brokerage account online, so I took advantage of the opportunity. I hadn’t […]
So what are the benefits if you save money and pay off debt? Typically the discussion goes something like this… Saving money will help you become financially secure. Having debt costs you more money. Paying off debt saves you money. Saving money will allow you to do the things you want to do. Save […]
Most often when we think about setting financial goals we think of the most fundamental aspects of our finances. Areas we manage and feel we can control on a regular basis. For example, we set financial goals around budgets, to lower monthly expenses. Saving money, to put more money in our bank account. Paying […]
If you’re looking to make some quick cash to speed up the payoff of some of your debt, or you’re trying to establish an emergency fund. Or maybe you just want to beef up your savings account because you like having more money. Flipping a product or item – buying low and selling high may […]
I was talking with some of my friends regarding their finances. They are currently using the Snowball Method to pay off debt, working on a budget and building up an emergency fund. As we were talking they started to discuss some of the processes surrounding their strategy. Although they are well on their way […]
What do debt management planning and lower back pain have in common? Let me explain. I can still remember that day. It was 7:30 am in the morning and I was brushing my teeth before I went into work. As I bent over the bathroom sink I felt a sharp pain in my lower back. […]
Search the Internet, read a book, brainstorm with a friend and you can easily come up with 100 new ways to save cash. Finding ways to save money is easy. The real challenge is taking all those great ideas and actually making them a lifestyle habit. New ways to save cash often require time […]
Many years ago (many, many) when I started my first “real” job out of college I had the opportunity to contribute to a 401(k) plan. I was young and at the time was more focused on my new paycheck, rent, entertainment systems and of course having a cool car – you know the really important […]
If you’re looking for a simple way to track your investments, Yahoo Finance provides an easy way to set up your own investment portfolio. In this short video, I will show you how to track stocks and mutual funds using Yahoo Finance. Why Create an Investment Portfolio? In general, there […]
Let me guess, you’ve been watching real estate house flipping shows on cable TV? I bet they’re like the ones I used to watch before I flipped houses. They make it look so easy to do, and they always make a profit. Do they? Now you’re curious if the reality of flipping a house […]
I started my first home-based business over 15 years ago. I was looking for an opportunity to try something new on my own. In addition to making some extra money, I also saw it as an opportunity to broaden my horizons a bit and test my skills at running my own business. What I […]
There are a number of ways to invest and make money in real estate. For example, you could: Buy a home and rent it out as a vacation property. For instance, as a way of generating passive income. Purchase a house or apartment complex and rent it out for residential living. Acquire a foreclosure […]
Are you concerned about credit card fraud? Worried about someone making unauthorized charges to your debit or credit card. If you are, here is one simple method you can use to minimize your exposure to fraud and avoid fraudulent charges. This may be the most important credit card alert you ever use. It’s called […]
For many years I watched my dad spend hours in the evening after he got home from work preparing the taxes. I can still picture it. The dim light coming from the basement. The table, covered with IRS forms, instruction booklets, envelops and a stack of receipts. A calculator, paper clips and what looked […]
Wisconsin is a special place for Mother Nature. She provides us with four wonderful seasons throughout the year. Wisconsinites are fortunate to be able to experience the fresh new start of spring, the long warm days of summer, and beautiful colors of fall. Even winter has its own standard for beauty like freshly fallen […]
I recently watched the HBO documentary Panic: The Untold Story of the 2008 Financial Crisis. The documentary discusses the events surrounding the cause of the 2008 crisis. And the sequence of events that the government took to prevent an economic collapse. It’s a great documentary that provides new information and sheds light on the event. […]
