7 Money Tricks Rich Guys Know : MensHealth.com My dad taught me how to rig a mainsail, my college buddies taught me how to hold my Jim Beam, and my teachers taught me how to parse Chaucer. But somehow no one got around to helping me calculate compound interest or build a diversified portfolio. Arcane skills? Perhaps, but learning them is the best way to avoid spending your retirement years nibbling on Alpo. Of course, people teach only what they know, and previous generations had less cause to study the finer points of finance, says Charles Farrell, a Denver-based investment advisor. Ensuring your financial survival will require learning to be your own CFO. Figuring Out Your Net Worth Would you start a diet without knowing your weight? And if you've never stepped on a financial scale, it's way too easy to binge on debt. One warning about net worth: The equity in your home is an asset, but its value is subjective, and it's not as useful in a pinch as cash or nonretirement investments. Running Your Ratios Gauging Interest
7 Rules of Wealth Building Part 2 Wealth Building Rule 5: Do Something You Love and Get Paid for It I remember going into college and being surrounded with people who wanted to be artists, scientists, and businessmen, but instead did what their parents or grandparents told them to do. There is no honor in being a doctor or a lawyer if you wake up every morning and hate your job. Wealth Building Rule 6: Understand the Money Myth Money is nothing more than a piece of paper with the image of a long-dead person on it. Wealth Building Rule 7: Your New Commodity is Not Your Labor, It's Your Ideas With the advent of the Internet and other technological advances, you are no longer limited to supporting yourself or making a living by your physical labor. More Information This article is part of our How to Get Rich guide for new investors.
How Much to Tip a DJ When you hire a DJ for an event, you are paying a flat fee for her services. According to the American Disc Jockey Association, this fee can range from $350 to over $5,000. So why should you tip the DJ on top of that? DJs are in the service industry, where giving a tip to service providers is common practice, particularly because tips go directly to the DJ, rather than the company as a whole. If you can answer yes to the above questions, it would not be out of place for you to tip the DJ at the end of the night.
Infographic: The True Cost of Homeownership Everyone is talking about how now is a great time to buy a home. And, on the surface, it looks like the perfect time. Home prices are low, and mortgage interest rates remain at near-record lows. There is some argument, though, that it might be better to buy a home in six months; without the home buyer tax credit to help keep home prices higher, some argue that another dip in prices is likely. However, whether you are really ready to buy a home has little to do with what is happening in the housing market; more important is what is happening in your personal finance world. When many people start thinking about purchasing a home, they usually get excited about figuring out how big a house they can get, and use online mortgage calculators to help them estimate monthly payments at a specific interest. The following infographic from CreditLoan.com offers a sobering look at how much it can cost to own a home. You can experiment with your own set of numbers at New York Times.
Take Control of Your Budget Your credit score and report could make a difference of tens or hundreds of thousands of dollars in your life time. If you follow a few simple financial management rules that give you good credit, you will likely see a big discount on many of your future purchases big and small, like cars, a home or even a couch. You also likely won't be denied the opportunity to own your own home, buy a car, or even rent an apartment or get that new job. Why is that? Well, when you go to borrow a large sum of money for a mortgage or a car loan, potential lenders will want to see your credit report and your credit score. Together, they show potential lenders how risky it is for them to loan money to you, how much they should lend, and at what rate. Your Credit Score There are actually many versions of your credit score. To get your credit score, companies put the information in your report through a complex mathematical formula, and boom, out comes your credit score. Your Credit Report WHY IT matters
Day 1: Step 2 Cash Flow When you think about the flow of money in your life, some obvious markers probably come to mind: payday, bill due dates, grocery trips, shopping sprees, nights out and more. If we step back from these specific events and take a big-picture view, we might see that money flows in and out of our lives in three ways: Paying close attention to your cash flow will allow you to grow that last bucket, savings. In order to maximize your savings, you’ll want to earn as much as you can, and spend as little as you can on the things that aren’t your top priorities. The more you save, the more wealth you build and the more money you have for big life goals. During these two weeks, as we work with you on establishing and achieving your goals, we’ll help you begin to manage your cash flow specifically for building your wealth. Net Worth In order to figure out where you want to go, we need to know where you are starting. Assets: Assets are money or things you can convert to money. Liabilities:
The smart investment account that's easy to use. No minimum balance. No... - StumbleUpon 24 Quick Actions You Can Do Today That Can Change Your Financial Life Forever Note: This is a post from Adam Baker, founder of Man Vs. Debt. Last week, while I was talking about our new You Vs. Debt class, we touched on the “status quo” of our Upside-Down Nation. We talked about our obsession with the debt-fueled life path and how it’s keeping millions trapped. But talk is cheap. I’m much more interested in action. And this week, I want to do my part to shatter any excuses or justifications you may have. I took the time to provide 24 different options. Sure, there’s little chance all will be viable for your situation. I’m asking for one. Do it. Action #1: Pull Your Credit Report (10-20 minutes) Simple steps: Visit Annual Credit Report – Visit annualcreditreport.com. How this can change your life: When we first pulled Courtney’s credit report, we were saddened to find she was a victim of identity theft. We had better luck with my credit report, however I did discover a $200 collections account I didn’t even know existed! Action #3: Get 1 paying client (15-35 minutes)
13 Business Books That Will Blow Your Mind Having never taken a business class in college I find that I read and listen to a lot of business books to round out my education. The books usually aren't "How to Manage Your Cash Flow" but rather get me to rethink the way I run my business, which--despite no business classes or diploma--continues to be in business 13 plus years after I started it. In that time, here are 13 of the books that had the biggest impact on how I run my business (in no particular order): Drive: The Surprising Truth About What Motivates Us by Daniel Pink: If you supervise anyone in your business, this book is a must read. The Knack: How Street-Smart Entrepreneurs Learn to Handle Whatever Comes Up by Norm Brodsky and Bo Burlingham: I wanted to have at least one book that was dedicated to small business and the entrepreneurial spirit. The beauty of this list is that I get to leave off a whole bunch of mind-blowing business books that you can't believe didn't make the list.
Five Personal Finance Lessons That Rocked Me Like A Hurricane When I Figured Them Out The last two years have taught me many, many things about personal finances. Some of the lessons have been useful and others thought-provoking, but a few have really knocked my socks off and changed the way I view the world. Here are the five lessons I learned that really altered my perspectives. Every time you buy anything, you sacrifice a bit of your dreams. He constantly tells me how he should be making more money and how it’s difficult to save money, but it’s pretty easy to see that he’s spending away his future here. While his case is an extreme example, it’s true to a degree for all of us: every frivolous purchase is an active choice to postpone our dreams. There is no such thing as a free lunch. Bad move. If someone offers you something for seemingly nothing, step back for a second and think about what they’re actually getting in return. My “income” wasn’t nearly as high as I believed it to be – and neither is anyone else’s. Ouch. It’s not true. Success is a choice.
Find the Power in Tracking Your Expenses One of the reasons budgets fail is because a crucial first (and ongoing) step is missed in the budgeting process: tracking your expenses. If you don't know what your starting point is, then there's little chance that you'll be able to harness your cash flow to your benefit. Here are a few tips to help you track your expenses effectively, then transform your current cash flow into a well-oiled budgeting machine. Step One: Don't Budget As funny as it sounds, your first task in creating a budget is not to budget. exorbitant to begin with). This gives you a realistic starting point, and a benchmark upon which to build and track your budget going forward. Use a Spreadsheet (or Equivalent) Each time I whip out my wallet, I record the money I spend in a notebook that I keep in my purse. So create a spreadsheet that allows you to analyze your data, past and present. You can create a separate spreadsheet tab for each month, or you can record all the data on one sheet, using running totals. Be Honest
How to Buy a New Car - Step 2 After submitting a you should receive email responses from all the dealerships within 24 hours. They will not be specific in terms of trim, options, or price…or the response will simply contain the salesman’s contact information. That’s ok! I’ve made it easy for you to respond to their emails. Get exactly the information that you need by using email templates. Email #1 – Ask for a clear car price quote In order to get the information you need from each dealer, enter the fields below to update the email template. Track all your emails and car dealer responses in my If you do not receive all the information you ask for, feel free to reply again requesting more specifics.
Building a Household Budget: Where to trim the “fat” "A necessary evil" is a quote from one article I read about setting up a household budget. I agree. Making a budget is not a fun job, but it really helps control household expenses. Every business has a budget; a household should be treated the same way. Making one puts you in better control of your money and also makes it easier for you to find places to save throughout the year. Some items don't change much (rent or mortgage payment, insurance, taxes), but some line items can vary from month to month. My husband and I are working to set up our annual budget and to find places to save more money this year. Here are some tips for setting up a household budget and where to save money: Use budgeting tools. My new motto is "More Fun, Less Stuff." Related Links: Budget Billing is Right for You Using Coupons; How Much Can You Save? Simplify to Save - Chores, Car Repairs & Shopping Money Mom's Top New Years Resolutions Lori O'Donnell Lori is a contributing writer for the A Straight Talk on Debt blog.
How To Validate A Credit Card With Your Mind | 1m4ge How To Validate A Credit Card With Your Mind [source] Accept Credit Cards Using your Smartphone with no monthly fees - Try Kudos Today! RedditTumblrStumbleUponDigg Labels: graphic, illustration, infographic You may also like : Mercedes Key Chain Pendrive Crystal Owl Pendrive Star Trek Pizza Cutter Asparagus Cake Crystal Car Pendrive Chameleon Light 5 comments: July 6, 2011 at 6:09 AM EteRniTy said... It worked for most of the cards...but still there are some exceptions...I use my Master Credit Card which doesn't follow this. July 24, 2011 at 6:04 PM NeKroloGiK said... Same here, I have a master card and it doesn't follow. July 28, 2011 at 5:39 AM elads said... yea... now do cvv/2... October 14, 2011 at 4:27 PM Joao said... so... what exactly does this "skill" help you with? November 1, 2013 at 4:42 PM Jason Murphy said... I wonder if this apply to most or all credit cards. Post a Comment Newer PostOlder Post Subscribe to: Post Comments (Atom) Tags Subscribe via e-mail Enter your email address: Top 1m4ge Blog Archive