Personal Finance For A Nine Year Old

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A few weeks ago, one of my daughter’s friends got a new computer game, and the two have been playing it ever since. However, my daughter, Tori, cannot play it unless her friend brings it over to our house, or she goes down her her friend’s house. So, naturally she wants her own copy. She had recently spent all her saved allowance money, so she was starting from scratch saving up the $20 for the game. Last Friday afternoon, when she got home from school, she exploded through the front door, ran up to her room, and grabbed her piggy [...] Read more »

With a Falling Market Should I Bail on my Investments?

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The markets fell, for the most part, during the third quarter continuing the challenge for many people to remain invested. Some investors moved out of the market already and will eventually have to decide when to invest again. That is the challenge for short-term investors and for those who attempt to time the market. The advantage of long term investing is the stress and strain of rapidly fluctuating markets is something you can ignore. Here are a few important questions you should consider. First, do you have adequate savings and emergency funds? (At least 6 months of your net take [...] Read more »

Investing — The Whole Return

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Losing money can really make you angry, but, eventually, you can make up the losses. But when time is lost, you will never get it back. The factor of time in investment return calculations is limited to the time period of the investment, e.g. One Year, Year To Date, Trailing Three Years, Calendar Year, etc. Return calculations are objective and purely mathematical. The value of your time is left out of the calculation of investment return. What about the time you spend as an investor? What is it worth? Isnʼt that part of your whole return and shouldnʼt you include [...] Read more »

Book Excerpt – Investiphobia: Overcome Your Deepest Investment Fears

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The Fear of Thinking Long-Term “When you obsess over how your investment is doing from day-to-day or week-to-week, you could be more tempted to tinker with it instead of sticking to your long-term diversified plan. Not to mention, you’ll probably lose sleep.” Erin Burt, Kiplinger.com, March 13, 2008  “Asset allocation, not stock-picking, not sector funds, not guessing the direction of the Dow Jones averages, is the key to financial success.”   Jim Cramer, Intro to The Little Book that Saves Your Assets, by David Darst One of the most popular investment shows on TV is the Jim Cramer show, Mad [...] Read more »

Manage Your Money Final Week – Think Ahead and Stay Determined!

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This Weeks Prize Winners! (via Random.org) FPU DVD Lesson: The Great Misunderstanding – Budgeting the Fun Stuff A Gift To My Children by Jim Rogers – Kathleen C. Congratulations to you all! Manage Your Money Final Challenge So far, you’ve learned about budgeting on paper on purpose, deciphering wants versus needs, the benefits of teamwork and accountability, impulse spending, and the impact debt has on your budget each month. Today we are going to finish the Manage Your Money challenge by talking about two things; thinking ahead and keeping the determination alive. Both are important because without either, you will [...] Read more »

It’s Your Money, YOU Spend It!

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Hello debt haters! A few weeks ago I received an email from a reader that suggested I write a post about how other people spend your money for you. I have to admit it is a great post idea, and I am really surprised I had not come up with it earlier. You see, I have my own issue with this very problem. Kelly in Cleveland Ohio wrote in: “I’d love to see an article on “When others spend your money for you”. For example, a 50th wedding anniversary for my fiance’s parents. We were just notified that we’re paying [...] Read more »

What Is Your Financial Profile?

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I often find myself thinking about what someone’s financial profile might be based on certain little facts.  Okay so maybe I have been watching a little too much of the show Criminal Minds, but I have started to think I can come up with a financial profile for everyone.  Haha! Trust me, I am not an expert, but I could take a shot at it for fun, right? Below I have tried to come up with a profile for the good and the bad.  Could I work for the Behavioral Analysis Unit as a profiler or  should I just stick [...] Read more »

Are You Under The Influence Of Debt?

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Debt: The Drug, The Dangers, and How To Turn Things Around I would say it is the drug of choice for 7 out of every 10 Americans.  Does that make it dangerous?  Absolutely!  Should it be illegal?  I wouldn’t go that far, as I believe in your freedom to conduct your life as you see fit, but what I would say is, that education is the easiest way to combat poor financial choices. I know I will catch some attitude from the “I pay my card off monthly” crowd, so I will add that moderation is key.  Actually moderation for [...] Read more »