The Big Mindset Change You’ll Need for Financial Success

The Big Mindset Change You’ll Need for Financial Success

Discover how a simple change of mind can lead you to financial success and real luxury. What’s a life of luxury to you? We’re going to go out on a limb here and guess a good portion of you started thinking about some sort of really expensive jewelry, maybe a nice car, and most likely a vacation house somewhere really warm (with a piña colada for good measure). Of course, we all thought of more wholesome stuff too (like a family) – but part of it probably involved some expensive purchases. We can’t blame you. We’d certainly love a piña colada right now, too. But ask yourself this. What do Bill Gates, Warren Buffet, Oprah Winfrey, and countless other million and billionaires have in common? Well, Gates and Buffet certainly aren’t wearing expensive gold chains. However, we can guarantee you the one thing they do have in common is an investment account. A stocks or bonds probably aren’t the first things that pop up in anybody’s mind when it comes to luxury. But they should be. This is the mindset change you’ll need that will make a huge difference in your life. Why? Because investing is quite simply the best thing we can do for ourselves It’s the only gift that actually pays you. Just think about that for a second. What other purchase out there will actually fatten your wallet instead of making it slimmer? A spa or a new outfit can both be very nice. There’s no denying that. But with a spa, you’re treating yourself for an hour(ish). And no matter how great of a clothing...

3 Steps to Stop Being Intimidated By Investing

Investing can seem daunting, but it doesn’t have to be. Here are 3 steps to help you stop being intimidated by investing.   We understand – investing can feel daunting. It actually can feel like walking on a tight rope across the Niagara Falls on a windy day. If you watch the news or read about finance online (it’s pretty hard not to), it probably isn’t helping. While the news is certainly helpful in some situations, having your eyes glued to the television or your tablet/smartphone probably won’t ease your worries. Think about it; on CNN, Fox News, MSNBC and countless other stations, we get a nightly report on how the Dow Jones Industrial Average, NASDAQ and S&P 500 fared that day. And sometimes that news is filled with doomsday predictions. At the same time, there are terms like call options, liquidity, and hundreds more being thrown around at a million miles a minute. It can make your head spin! However, has anyone ever told you in easy to digest terms what these measure, or what any of this actually means? We’re about to break down some basics on why you shouldn’t be intimidated by investing, and how to get started (with baby-steps):   Bounce back With the news it can seem like the stock market is going into a freefall that will never, ever recover. But many of these reporters would be out of a job if they finished the whole story. Relying on viewership means catchy headlines and making everything seem compelling (even if it’s negative). The truth is; despite any market catastrophe – from the Great Depression to...

5 Smart Money Tips That Will Improve Your Life

Put these smart money tips into practice and watch your wealth grow.   If you’re just beginning to get in financial shape, give yourself a pat on the back! Starting is half the battle. There are a million things you can do to improve now, but you might not know where to begin. That’s why we’ve come up with these five smart money tips that will help you get into the best financial shape of your life. Consider the following five financial focal points to make strides toward financial fitness. If you’ve already started improving your finances, that’s great too! You can use these tips to strengthen your regimen.   1. Track Your Expenses You’ve wanted to do this for a long time – get rid of that feeling and make right now the time you finally do it. While it may seem tedious, listing your expenses over the course of at least two or three months can help you to get an accurate look at your true financial picture. Best of all, smartphone apps make it easier than ever to accomplish this.   2. Create a Budget Once you’ve become aware of the true picture of your outflow of cash, it’s time to make a budget you can live with. The 20-30-50 plan is a fun and flexible way to account for your spending. With this plan you can still go on that much-deserved splurge while keeping your money in check. First, you should calculate the amount you have to budget every month – your paycheck (minus taxes), plus any other income. The 20 is 20 percent of your monthly spending....
Don’t Break the Bank – 5 Ways to Save Money this Holiday Season

Don’t Break the Bank – 5 Ways to Save Money this Holiday Season

Keep on top of your budget during the holidays, without becoming The Grinch   We love the holidays – there’s nothing like spending time with your family, overindulging on food, kicking off our flats and relaxing from our busy lives for a little while. But doing the holidays right requires more than finding that perfect Turkey recipe. For many people, the holidays result in a financial hangover that you can’t sleep off (just in time for New Year’s!). No need to fear! We’ve developed some ways to help you keep on top of your budget during the holidays, without becoming The Grinch: Make a plan The only surprises this season should be the awesome gift you just got or how much Eggnog Uncle Jerry drank. You can avoid the shock of an empty wallet by planning ahead. Before you dive into these busy weeks, map out what you expect to spend (gifts, food, travel). If you haven’t already started shopping for gifts, you can set a specific limit so that you know in advance how much you will spend. Make sure it’s within your “fun” budget , because cutting into necessities can lead to a never-ending spiral of debt. Volunteer! So your whole family is in town, and normally this would be the perfect opportunity to go out to dinner or to the movies. But won’t that cut into your budget? You can avoid the spending (and dreaded movie lines) by volunteering. It’s a great opportunity to bring the family closer together while also doing something worthwhile for the community. Homemade is the new Tiffany’s Whip out your arts and...

How to Get the Most out of Your Money

“Just Spend Less” – Here’s Why Most Advice on Saving Money Sucks (and what to do instead) Okay, we’ll be the first to admit that spending less than you earn is actually very good advice. But is it realistic? Spending less is great, if you can actually do it. But what good is good advice when it’s almost impossible to follow? You might as well type “start climbing” on a piece of paper, dress it in a fancy book cover, and sell it at your local Barnes and Noble as The Insider’s Guide For Conquering Mount Everest. Great advice needs to be more than “just do it” (sorry, Nike). Don’t worry though; we’re about to give you a (relatively) easy fix to get your money on track. Avoid a financial diet “I love dieting” –said no one ever. That’s the problem with saving money – most people approach it like a diet. A budget is framed by what you can’t spend – but who actually wants to deprive themselves of money (or chocolate cake)? Pinching pennies is no real way to get ahead, and tracking every single dollar you spend just feels like a chore. Having zero flexibility (i.e. $200 for groceries) isn’t going to leave you feeling very wonderful. That’s why you need to avoid a budget at all costs. Yes, you read that right. Here’s what you need to do instead: The 20-50-30 plan is a fun and flexible way to account for your savings. First – calculate your monthly take home pay (the amount you keep after taxes). The 20 is the percent of your money used...