Tagged With "financial fitness"

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Re: A beginner's guide to investing

BeckAtsila ·
I learned everything I know about investing from the Indianapolis-Marion County Public Library. Check your library for books on investing, especially "A Random Walk Down Wall Street" by Burton Malkiel and "Millionaire Teacher" by Andrew Hallam. If you're not a reader, both basically say it's almost impossible to beat the market and you should aim to match the market by buying a diverse index fund. I've managed to invest on $8.50 an hour through Stash, and I keep an emergency fund tied up in...
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Re: How did you get started working towards your financial goals?

Moore Income ·
"Pay Yourself First" was definitely a big one for me. Although it took me a while to fully grasp the concept. I started learning about it but was hesitant to apply it to my life. I got married last year which was a huge change for me but it also opened my eyes to my lack of financial knowledge and the need to get things under control. Fear was partially a motivator. The fear of getting further in debt and becoming another statistic. Fear of not being able to live a fulfilling life because of...
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Re: How did you get started working towards your financial goals?

BeckAtsila ·
I second "The Richest Man in Babylon". I do something similar to what you do--I get paid on Fridays and each Friday put aside a small amount of money into the Stash app--I'm saving up for a trip to Iceland. I work in the restaurant business and get free food and free coffee, which helps out with my grocery bill. Right now I'm concentrating on paying debt, but had to raid my emergency fund for this month's payment because my hours at work got cut due to road construction. I have several side...
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Re: How did you get started working towards your financial goals?

Briana ·
I love Stash! It's helping me save for my Greece trip right now too. I want to check out this "More for Less" cookbook -- I've been searching for something exactly like this so thank you for the recommendation! If you have any money-saving travel tips, feel free to share! I'd love to hear them =)
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Re: How did you get started working towards your financial goals?

KellyFromKeene ·
I went through a time where life just turned upside down, and I realized that I needed to make some significant financial changes. Its amazing how I was 'struggling' when there was 3 times the money I make now, coming into the house. I did a complete overhaul of my expenses and cut out what was not necessary. It was brutal, but good! I did 'no spend' months, set up several different accounts for savings, and budgeted. I got rid of all credit cards for 5 years and lived only on what I made. I...
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Re: How did you get started working towards your financial goals?

Bonnie Squires ·
I've $1,000 in the bank and each friday will add $10 to this. I've paid 2 credit cards off with my tax returns and I'm using the money from those monthly payments to pay off other credit cards I'm all so working on my website and selling flash cards,puzzles and other things like that to home school teachers. All so I'll be making candy wrappers. I'm all so looking into selling mugs my be other things. Most will be down loads so no going to the post office. This money will be used to pay off...
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Re: How did you get started working towards your financial goals?

Deon Christie ·
And a very effective way of saving @Briana . I do the same with regards to savings and emergency funds. But that is placed aside and cannot be accessed easily. I have saved up for many things this way, because I don't like accounts. Apart from mortgage, insurances and the really necessary stuff. But I never buy appliances, linen, clothes etc through accounts. You save quite a bit on interest costs this way.
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How did you get started working towards your financial goals?

Briana ·
Learning about how to manage your finances is hard! Today, we are inundated with tons of personal finance content - do this, don't spend that - but what's the right advice? Where do we start? For me -- it's the whole "pay yourself first method," which is exactly what I've started doing to start building a savings (and travel fund!) Each paycheck, I'm intentionally depositing a portion of each check into my savings account - that I'm not allowed to touch. Instead of going out to eat numerous...
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A beginner's guide to investing

The Saving Scientist ·
Hey Penny Hoarders, For the longest time, I thought that investing was reserved for the financial elite. I didn't really understand the terminology and it just sounded too complicated to be worth my time. A year after starting investing, I now know so much more and I'm happier (and wealthier) because of it. Investing is the best (and most effortless) way to create wealth. I've written down some thoughts for people who are also only starting out on their investment journey. You can find it...
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Re: Life Insurance, Disability Insurance, Wills, etc

Moore Income ·
I personally came really close to getting life insurance from the company I have car insurance with. But at the last minute they changed my insurance representative and I just never followed through with it because we had a good relationship with our previous representative and didn't know the new guy. One of the main reasons I didn't follow through was because I felt I was getting pressured but still don't have a good understanding of what to look for when it comes to life insurance. I...
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Re: Life Insurance, Disability Insurance, Wills, etc

Gee ·
Being 63 in a couple of days and in good health, I recently passed all the requirements for a universal life policy with a long term care rider. My spouse will have the proceeds if I die before her even if I’m retired and no longer have the term life policy that my job made available. And the added benefit is that I can draw $10,000 a month after 100 days of an incapacitating illness myself. It reduces the amount payable upon my death but I don’t have to die to benefit from it myself. Win-win!
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Re: Life Insurance, Disability Insurance, Wills, etc

AverageJoe ·
We need to update our wills. We used to get it updated every year when we were with a company that sold legal insurance as sales associates. Now we no longer are with that company, and haven't kept it updated. We are in the process of writing our new wills, and will file them and leave them in appropriate hands. We do realize that it's important to keep things like this updated, though, as well as having a living will and all the correct directives. I don't preach on it, but my sister asked...
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Re: How I Live On 50% Of My Net Income

Men On A Budget ·
Awesome journey! Thanks so much for sharing it with us.
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Re: Stop the Paycheck to Paycheck Cycle by Being Mindful of Your Financial Habits

Moore Income ·
You can say that again! We tend to develop bad financial habits from an early age and they become hard to break and leave us wondering where we went wrong. I would have to say that a lot of times, life gets in the way when you are trying to stop the living paycheck to paycheck cycle. Just when you think you are getting some traction, life hits you with another surprise. I find often that bad habits such as a lack of budgeting and keeping track of finances and living above your means are...
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Re: Can Budgeting Come with Baggage?

Moore Income ·
You hit the nail on the coffin here when it comes to budgeting. All of those have been things that have held me back from really creating and sticking to a budget. I am still working on it actually, but at the beginning of this year I made it a point that I would do what it takes to get my finances in order and that includes budgeting. On the topic of fear, I just read the book Who Moved My Cheese? and it talks about the fact that a lot of times what we fear and image the outcome of...
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Re: Can Budgeting Come with Baggage?

The Saving Scientist ·
Exactly, Ron! I'm really glad to hear that you're taking steps in the right direction. I look forward to reading more of your posts and seeing how your financial journey goes. We can all learn something from each other! Feel free to reach out at any time if you need any advice
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Re: Reading Goals

Qsusan ·
My goal is to read one book a month. Sometimes I do 3 in 2 months. I also read financial blogs and Kiplinger magazine. Education is a life-long endeavor! My favorite financial book so far is by Elizabeth Warren, "This Fight is Our Fight." It really summarizes how people live, how we got here, and what we need next. Her other book, "The Two-Income Trap," is also excellent. I actually own both. I check out books from the public library and I purchase my own copy when I find I LOVE them...
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Re: Reading Goals

Moore Income ·
@Qsusan thanks for the recommendations, I will check them out. I like buying my used books from ThriftBooks.com . They have lots of titles at great prices that vary based on the condition. Also, if you buy $10 or more in books you get FREE SHIPPING. I have saved a ton of money buying books from here. You can generally get 3 or 4 books for around $10 with free shipping.
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Re: Reading Goals

FreebiePharm ·
If anyone has some good FREE reading resources let me know. The local library is slim pickings...
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Re: Can Budgeting Come with Baggage?

FreebiePharm ·
My biggest setback with budgeting is consistency. I feel I would start it but not continue. I am halfway there on budgeting. I write down my expenses bi-weekly but do not account for "small" purchases. This would be my goal as well as an envelope system.
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Re: Reading Goals

Qsusan ·
@MOORE INCOME thank YOU for the recommendation of ThriftBooks.com. I will DEFinitely check that one out. I have a wish list. lol
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Re: Reading Goals

Jules ·
I've always been a super avid reader since childhood, and my goal this year is to finish 64 books. With that being said, 4/5 books are audiobooks. I've been using Audible the last two years and amassed quite an (expensive) selection. Recently I found Scribd, which is unlimited Audiobooks for $8.99. The difference is with Audible you buy the book and keep it forever but Scribd is more like Netflix for audiobooks - you don't get to keep it, but you can listen to as much as you want so long as...
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Re: Reading Goals

Moore Income ·
@Jules that's good to know about the audiobooks. I personally prefer to read physical copies of books (not really a fan of eBooks either) but I know many people who prefer to listen. The important thing is to get and understand the knowledge being shared. I like the idea of Scribd but I think I would prefer to own the book if I was going to do audio.
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Re: Reading Goals

Former Member ·
I recently read Oxen, by Joseph Sangl. It is a really short, easy read with a biblical perspective. I have not yet read but it is on my to do list “Street Smarts” by Jim Rogers.
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Re: Reading Goals

Kassidy King ·
@FreebiePharm I came across this app Libby, by OverDrive by OverDrive, Inc It’s basically access to all the audiobooks available from your current library.
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Re: Reading Goals

sphgrl35 ·
scribd.com is great. You can sign up and get 30 days free-if you start the sign up process, but don't add you cc info the next day you'll get an email offering you 60 days free -after the free trial either cancel or pay $7.99 a month. They have a great selection of books, audiobooks, magazines and docs; you can also self-publish if you're looking for a little creative feedback I have also used Kobo before too, but that's mostly for audiobooks.
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Re: Reading Goals

Moore Income ·
@sphgrl35 That's a nice little money saving hack! Thanks for sharing!
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Re: Reading Goals

FreebiePharm ·
Thanks for the reminder on audiobooks! Sometimes that selection is better at the library and I have a 3 hr drive Friday; perhaps I can find something on finances!
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Re: How I Live On 50% Of My Net Income

FreebiePharm ·
What an interesting read. Thanks for sharing your journey!
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Re: Reading Goals

Moore Income ·
Just finished reading the book " Opportunity " by Eban Pagan. It was a pretty intense read with a lot of deep topics but it helped me in recognizing opportunity and learning how to choose the right opportunities in my life. I lent the book " Who Moved My Cheese? " to a coworker who saw me reading it, she is almost finished and another coworker is already asking to read it next. I definitely recommend it for people who are struggling with change at their job.
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Re: How I Live On 50% Of My Net Income

Moore Income ·
Great to see people like yourself who are taking control of finances! March is right around the corner. I look forward to hearing more of your journey!
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Re: How I Live On 50% Of My Net Income

DottieRose ·
I have been trying to research ways to better my financial future on my own for a few years now. I'm not stupid but there is so much information out there that I'm overwhelmed. I was giving up hope and then by accident, I found PennyHoarder and your article. Your journey gives me hope that I can do this! Thank you for sharing.
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Re: Reading Goals

Moore Income ·
I finished reading the book e SCAPE by Anik Singal in February bringing my total to 4 books read. Not bad for the shortest month of the year! This month I have been working extra so I will probably only get 2 in but we will see. Currently reading " From Poop To Gold - The Marketing Magic of Harmon Brothers" by Chris Jones It is quite an entertaining read and definitely recommended for anyone who wants to learn more about marketing and entrepreneurship. Still haven't decided what my second...
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Re: Reading Goals

Shannon H ·
I've never made any specific reading goals but I enjoy reading and with new Fire it is making it much easier. I have read 6 books in January and 5 books in February. Doesn't look as promising for March as I have 1 read as of today and 1 waiting for me....... Library here is part of Hoopla and I have found that morning is the best time to check out new book as by noon most days they have met the number of checkouts for the day. Trying to stick with books that teach me something new...
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How I Live On 50% Of My Net Income

Rob Loftus ·
When I saw the light New Year’s Eve, 2017. Uninspired, broke, living paycheck to paycheck. While trying to celebrate the coming of the new year, in my very first tuxedo, and at a very nice winery, I found myself miserable. Most noteworthy, my amazing mother, who was visiting and I hadn’t seen in years due to living a few thousand miles from one another, is a VERY upbeat and positive ray of sunshine. As a result, she, AND my realization I was failing at ‘adulting’, were my catalyst for...
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Life Insurance, Disability Insurance, Wills, etc

Nicole ·
Part of financial well-being is also being prepared to protect you & your family should something terrible happen. Do you have Life Insurance, Disability Insurance, Critical Care Insurance, a Will? If you do, how often to you make sure it still suits you & your lifestyle? (eg will only lists 2 children & now you have 3, life insurance would pay off your mortgage but now your mortgage is paid off)
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Reading Goals

Moore Income ·
I have so many books in my library that I have purchased (mostly financial topics) that I have been telling myself I need to read but just haven't gotten to yet. Because of this, and also because I believe the saying "Readers are Leaders", I have made it a goal this year to read at least 2 books a month. I completed this goal in January by reading " How to Win Friends and Influence People" by Dale Carnige & " Sell or Be Sold" by Grant Cardone For February, I have already read "The...
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Stop the Paycheck to Paycheck Cycle by Being Mindful of Your Financial Habits

The Saving Scientist ·
How’s this for a truth bomb – the life you are currently living is mostly the sum of all your habits. Read the following article to find out 10 financial habits that may be getting in the way of achieving your long-term goals: Stop the Paycheck to Paycheck Cycle What are some habits that you've discovered that get in the way? I'd love to hear your own experiences.
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Re: Life Insurance, Disability Insurance, Wills, etc

NanaWaller14 ·
Universal Life is a ripoff! Buy Term and shop for long term care separately. You'll save money.
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