Tag: Personal Finance

Book Review: Save, Spend, Invest, Give

Save Spend Invest GiveIn Save, Spend, Invest, Give, Daniel Pecaut shares his expertise on personal finance as the CEO of an investment firm for over 30 years. Pecaut is a value investor inspired by value gurus like Warren Buffett and John Templeton. However, this is not so much a value investing guide as it is an inspirational personal finance guide. Continue reading “Book Review: Save, Spend, Invest, Give”

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How to Start a Retirement Fund with Almost No Money

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Many people I talk to want to do a better job of saving for retirement but don’t know where to begin. Maybe their employer offers a 401(k), but they don’t feel like it’s enough, or maybe they have no 401(k) at all and desperately need to get something started.

Many people also don’t have much money to get started with. They might want to start investing as little as $20 per month. The fee structures of mutual funds and the transaction fees brokers have for purchasing securities can make investing small amounts of money at a time very impractical, but that aspect of the investment industry is changing, and there are some new opportunities for small-time investing that weren’t there only a few years ago. Continue reading “How to Start a Retirement Fund with Almost No Money”

Book Review: The Total Money Makeover

Total Money MakeoverDave Ramsey’s Total Money Makeover is not a perfect system, nor is this a perfect book, but it is the reality check that tens of thousands of American consumers need. After one filters out the unhelpful testimonials and the plugs for his radio show, this book a lot of good common sense about finances.

Ramsey rightly compares personal finance to personal health. Most of it is common sense, but as he says, it is 20% knowledge and 80% behavior. Ramsey’s system is all about correcting behavior. There are some methods that are more efficient than Ramsey’s but that offer too many temptations that many people can’t handle. While Ramsey encourages you to follow his system strictly, he is forthcoming about the arguments against everything he says. This is an important reason why I recommend this book.

Some people need this system and need to follow it strictly to fix their finances. Some people are already doing okay and can keep doing what they are doing. I would say that this program is not for everyone, but everyone should read it to make sure. It could be the difference between becoming a millionaire and going bankrupt. Even if you don’t use it all, there is plenty of good information and some solid reality checks in here for everyone, even those who already know a lot about finance and are financially successful.

Is Going Back to School Worth the Cost?

people-woman-coffee-meeting.jpgWhether or not to continue one’s education is one of the top questions in personal finance. Even for financial experts, it is not an easy decision. However, there are some great ideas and some great information out there that can help you make the best choice for you. It may be easier than you think. Continue reading “Is Going Back to School Worth the Cost?”

Wide Your World, Part II: Listen Up!

Mainstream radio is pretty much music, news, sports, and some comedy. The music is mainly the same 10 songs over and over again, with each station having its own slight variation on what those 10 songs are. The news is either mainstream headlines and soundbites or political pundits ranting, usually spewing inaccurate information that is not based on actual research. Sports coverage is 90% NFL football, even when it’s basketball and baseball season. How much are your really getting out of this stuff? It seems more and more like they are just trying to keep you busy between commercials. Most of what is on the radio is the same old noise over and over again.

It’s time to listen up! Upgrade the value of the material you listen to every day. Continue reading “Wide Your World, Part II: Listen Up!”

10 Things I Learned From Teaching a Personal Finance Class

2016-2017 has been one of the craziest years in my teaching career. My principal texted me last July to ask me to teach Personal Financial Responsibility, a course encouraged, but not required, for high school students by the state of Indiana. I accepted the challenge and immediately delved into learning as much as I could to help my students. Nearly a year later, after teaching two sections of the course, I have learned a great deal about finance and about myself. In this article, I would like to share with you what I have learned this year.
Continue reading “10 Things I Learned From Teaching a Personal Finance Class”