Small Financial Decisions Can Make a Huge Difference
The “latte effect” describes spending money on small things that have little to no impact on our lives. The concept is true; small amounts of money spent on a regular basis can cost us more than we can imagine over the long run. If you bought a $5 coffee every single day from age 18 […]
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Are Electric Cars Cheaper Than Gasoline Cars?
Electric cars are here to stay. Manufacturers of traditional gasoline powered cars, like Ford and GM, are starting to jump into the electric vehicle market. It’s not difficult to imagine that at some, possibly not-too-distant point in the future, the majority of new cars sold will be electric vehicles, or EVs. EVs have several distinct […]
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That Fancy Home or Expensive Car Might Come at the Price of Your Retirement
We recognize the need for money flexibility; there isn’t a one-size-fits-all approach to spending. For example, you may have to spend more than 25% of your income on housing if you live in an extremely high-cost of living area. If you do “break the rules” in one category of spending, though, you will need to […]
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The 6 Best Financial Decisions You Can Make
Last week, we discussed the worst financial mistakes you can make; what about the best financial decisions you can make? In addition to learning from the failure of others, you should try to gain as much knowledge as you can from successful individuals, too. As our Money Guy Wealth Survey shows, wealthy individuals normally share […]
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How to Maximize Your Retirement Savings
We know that 8 out of 10 millionaires credit their 401(k) as playing a major role in their wealth-building, yet 35% of Americans don’t even contribute enough to their 401(k) to get the full employer match. It’s no secret that many Americans are behind in saving for retirement, but you can set yourself apart by […]
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6 Financial Mistakes You Are Making Right Now
There are certain things everyone needs to know about money. High school personal finance classes are still uncommon, and most Americans are financially illiterate and more prone to making money mistakes due to a lack of knowledge. Here are some common financial mistakes you may be making right now and how to avoid them. 1. […]
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4 Ways Technology Is Changing the World of Investing
The accelerating growth of innovation and technology is changing almost everything about the world around us, and investing is no exception. Many changes are positive; investing is now accessible to more people and those with lower incomes, and there are funds available that have low and even no expenses. Previously, funds may have required an […]
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Don’t Let COVID-19 Derail Your Finances
There are some obvious financial dangers you could face during this pandemic, like the danger of losing your job and being unable to afford the basics. We think there are also some other less obvious financial pitfalls you could experience during the pandemic. Whether or not you’ve lost your job or are severely impacted by […]
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How to Max Out Your Roth IRA With Found Money
Although states are reopening and economies are up and running again, many Americans may still be suffering financially from the shutdown. We think there are a few things you can do to free-up some extra cash in the budget (or max out your Roth IRA), whether or not you lost your job or have been […]
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Are ETFs Better Than Mutual Funds?
A mutual fund allows investors to pool money together to purchase a collection of stocks, bonds, or other securities that might be difficult to replicate on their own. ETFs are similar, but are traded throughout the day instead of at the end of the day (we’ll discuss intraday pricing later). Most ETFs, about 90%, are […]
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