Tagged With "financial"

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Who taught you your most important money lesson and what was it?

Briana ·
Growing up, I didn't necessarily have one specific person I leaned on for financial advice. But I spent a lot of time watching how my own parents struggled, which taught me that I didn't want to do the same. Now, I actively pay attention to what I can and can't afford and how to set myself (and my future family) up for more financial success. What's one money lesson you've taken with you?
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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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What is the worst financial advice you've ever received?

BeckAtsila ·
I'm feeling playful today--what is the worst financial advice you've ever received? Mine was so bad it was epic and funny, at least to me. I am a professional author of a trade paperback and two e-books, one of which is self-published. This "make a six figure income and travel the world" guru wrote that you could get a six figure income by hiring a ghostwriter (I've done that, too) to write 100 books and sell them on Kindle. This is funny to me because of what all goes in to writing a book.
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Financial Accomplishments (SHARE YOURS)

Moore Income ·
Every small step in the right direction is one step closer to the goal! When it comes to financial fitness, every accomplishment (no matter how small) is important, as it helps you create a better financial future. Even something as small as not buying a coffee and instead putting that money you would have spent into savings is a financial accomplishment worth celebrating. The more times you do these small things, you begin to create good financial habits that you will carry with you the...
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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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Can Budgeting Come with Baggage?

The Saving Scientist ·
Similar to how we enter into new relationships with some of our own baggage, we tend to do the same with our relationship with money. One area that often carries the most is budgeting. If I can draw parallels with emotional baggage, our mindset about budgeting may simply be caused by our unwillingness to address unresolved issues and fears. Is the stress of creating a budget caused by the fear of having to face the amount of debt you owe? What if it’s too overwhelming? Are you delaying your...
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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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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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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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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

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: 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: 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: Who taught you your most important money lesson and what was it?

FreebiePharm ·
I would say my parents but by doing what they didn't do. I prefer not to spend my money, I am always looking for ways I can obtain things I need for free. The only financial footstep I followed was buying a new car and having that debt, which I wish I had never done. I should have bought a used car and had it paid off.
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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: Who taught you your most important money lesson and what was it?

Kenny Mathe ·
To pay myself first is the good idea for example if may salary is less do I have to pay half of my salary to make my tithe and I would be left with nothing to pay my bills and my children remain without food in the house.If I pay what I can afford is it a problem
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Re: Who taught you your most important money lesson and what was it?

Bonnie Squires ·
Once I get my tax return I putting a good amount of money in the bank. Once I get a bill from my old place paid off than that will go into the bank account it wont be much only $10 a week but that an extra $40 a month in the bank.
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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: What is the worst financial advice you've ever received?

Moore Income ·
I think some of the worst advice for making money a lot of people talk about and is kind of the first advice you run into when you get started online. That advice is to go and do surveys and use other similar sites. While these all have their place, when you really look at how much time it takes, and how little you get, it is really not a viable way to "make money". You would be much better off just getting a second job that you only worked 1 hour a week. I am pretty sure you would probably...
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Re: What is the worst financial advice you've ever received?

Briana ·
Ooooh! Love this question. Mine would probably have to be -- "It doesn't matter what you do with your money right now, as long as you save for retirement, you'll be fine." I think it's so easy to think what you do now won't impact your future, or that you can always make more money -- but I'm glad I learned the value of creating healthy financial habits now so I don't have to worry (as much, hopefully) later!
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Re: What is the worst financial advice you've ever received?

Former Member ·
When I was a broke newly married college student I spent a lot of time reading up on how you could make money by getting your car wrapped in advertisements. I could get paid to drive around! Sadly most of the programs that were hyped up online required you to pay to get more info. I never fell for that scammy part but man, I wasted a lot of time on that research!
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Re: What is the worst financial advice you've ever received?

Duane ·
The worst advice I ever got was to go with a debt settlement company! My experience with what I thought was going to be a help, ended up being a nightmare. My credit was ruined, and my creditors had no patience with me, when they found out, I had chosen a debt settlement company. It was one of the worst experiences of my life, and caused me extreme stress and discomfort!! The lesson I learned was that there is no short cut to paying one’s bills, and that if a medical emergency comes up, and...
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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

Melinda Longtin ·
I do not have specific reading goals, but I read and write all of the time. As a blogger and a poet, it is important to constantly be honing my craft and keep learning in general. However, I have a book ownership goal: Read and sort through/donate enough books to make it possible for all of them to fit on my bookshelves. Nice sources for free or inexpensive books: OnlineBookClub. They provide books in their daily gift card giveaway contests (Reading samples of or downloading the books they...
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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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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: Who taught you your most important money lesson and what was it?

Moore Income ·
Pay yourself first. This I learned from many books and successful people. It is a principal that truly works when you start applying it. There is a lot that could be said about it but the best book I have read on the subject would have to be The Richest Man in Babylon. You can find it on Amazon but if you want to save some money and get more books for less, I recommended Thrift Books.
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Re: Who taught you your most important money lesson and what was it?

AverageJoe ·
If we tithe to a local church, how do we pay ourselves first? Should we come directly AFTER the church, and then bills, food etc? Just curious on your take on it.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
Good question. I personally view tithing as giving back a portion to God in thankfulness for what He has given me. Therefore I would apply the principle of paying myself first after tithe. For those of us who do this, it means we have to learn to live off of only 80% of what we earn instead of 90% but I think it is a good way to learn to live below our means. And if you practice the principle of tithing first, you can trust God's promises in His Word to take care of those who holds Him in ...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
My mother. She always said make a trash small. Save your pennies, pick up a penny. Water down everything to make more including soup, spaghetti sauces, gravies. We made and popcorn and VHS tapes to entertain ourselves. Always pay yourself 1st period try saving $50 a week by the end of the month you've got $200. If not weekly try bi-weekly. Don't throw out old clothes just cut them up and make a blanket or throw. Being thrifty doesn't mean being cheap. Because you always end up with more...
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Re: Who taught you your most important money lesson and what was it?

Sewspcl ·
Pay yourself 1st then pay your bills and tithing. Is not ego it's economics. If you get sick because you're not eating could you can afford food but you going to church every week who are you helping? Let go of ego and pay yourself 1st. Then get back to others. Make sure the church that you are giving to does not squander your money on wines and fine china like my church did.
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Re: Who taught you your most important money lesson and what was it?

Moore Income ·
@SEWSPCL Interested in understanding why you consider it "ego"?
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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: Who taught you your most important money lesson and what was it?

BeckAtsila ·
"Pennies add up to dimes, and dimes add up to dollars." My across-the-street neighbor when I was 4.
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Re: Who taught you your most important money lesson and what was it?

KellyFromKeene ·
I cant think of a particular person- but I can think of things I learned from several people. My parents taught me that tithing is important, although I have not always done that. My ex taught me that I don't need a lot of things to be happy- after I lost it all in a divorce. My boyfriend taught me how important it is to save and plan for the future. My kids taught me that people are the most important thing and that everything else is a distant second.
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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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