Get Financially Fit!
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For nearly a decade, I have held various marketing and communications positions in the high tech industry. Most recently, I was at Cisco Systems, driving their marketing and communications strategy for their worldwide technical support division. On the other hand, my husband and I are personal finance junkies. We've been educating ourselves financially since 1999 through various products, services, and seminars. We strongly believe you need to take charge of your personal finance and get financially fit!
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Posts by admin
6 Strains On Your Financial Future
May 29th
by Rick Newman, US News World & Report
[Excerpt]
Don’t exhale just yet.
The recession is winding down, and shell-shocked consumers can finally begin to repair finances thrashed by the housing bust, stock-market collapse, and wretched job market. But the white-knuckle ride may continue, even as the economy recovers. The whole nation has been living on borrowed money and putting off tough decisions, and the bills are finally getting too big to ignore. Here are six eventualities that will keep the pressure on American families–while providing even more reason to save extravagantly and live carefully. [Read more]
5 Secrets of Self-Made Millionaires
May 24th
By Kristyn Kusek Lewis, Reader’s Digest Magazine
[Excerpt] They’re just like you. But with lots of money.
When you think “millionaire,” what image comes to mind? For many of us, it’s a flashy Wall Street banker type who flies a private jet, collects cars and lives the kind of decadent lifestyle that would make Donald Trump proud.
But many modern millionaires live in middle-class neighborhoods, work full-time and shop in discount stores like the rest of us. What motivates them isn’t material possessions but the choices that money can bring: “For the rich, it’s not about getting more stuff. It’s about having the freedom to make almost any decision you want,” says T. Harv Eker, author of Secrets of the Millionaire Mind. Wealth means you can send your child to any school or quit a job you don’t like.
According to the Spectrem Wealth Study, an annual survey of America’s wealthy, there are more people living the good life than ever before—the number of millionaires nearly doubled in the last decade. And the rich are getting richer. To make it onto the Forbes 400 list of the richest Americans, a mere billionaire no longer makes the cut. This year you needed a net worth of at least $1.3 billion.
If more people are getting richer than ever, why shouldn’t you be one of them? Here, five people who have at least a million dollars in liquid assets share the secrets that helped them get there.
1. Set your sights on where you’re going
Twenty years ago, Jeff Harris hardly seemed on the road to wealth. He was a college dropout who struggled to support his wife, DeAnn, and three kids, working as a grocery store clerk and at a junkyard where he melted scrap metal alongside convicts. “At times we were so broke that we washed our clothes in the bathtub because we couldn’t afford the Laundromat.” Now he’s a 49-year-old investment advisor and multimillionaire in York, South Carolina.
There was one big reason Jeff pulled ahead of the pack: He always knew he’d be rich. The reality is that 80 percent of Americans worth at least $5 million grew up in middle-class or lesser households, just like Jeff.
Wanting to be wealthy is a crucial first step. Says Eker, “The biggest obstacle to wealth is fear. People are afraid to think big, but if you think small, you’ll only achieve small things.”
10 Ways You’re Getting Ripped Off
May 18th
by Forbes, Edited by Brett Nelson
[Excerpt]
Think you’re not getting a fair shake? Here’s how bad it really is.
Economists call them “market inefficiencies”–those periods when the price of something veers from its underlying, inherent value. Consumers on the short end of these misalignments call them rip-offs.
We’re not talking fraud here, though there’s plenty of that going around, too. We’re talking about all the ways, within the law, that we allow ourselves to be taken for a ride.
How to Be a Savvy Cheapskate
Apr 17th
by Katy Marquardt
[excerpt] Don’t judge this penny pincher by his cover. Jeff Yeager may be the author of The Ultimate Cheapskate’s Roadmap to True Riches–which one might assume to be filled with coupon-clipping strategies and saving tricks–but his philosophy isn’t as much about how to get more for less as it is learning to live with less, period.
8 Steps to Reducing Credit Card Debt
Apr 14th
by Erin Petersen
[excerpt] In times of economic uncertainty, it’s even more important to put yourself in a solid financial position. One good way to do that is to dig out of credit card debt.
Liz Weston, author of “Easy Money: How to Simplify Your Finances and Get What You Want out of Life,” says tighter lending standards make it even more important for people to bring down their credit card balances. “Many credit avenues are being shut off,” she says. “Some people are finding their credit limits getting lower and interest rates getting higher.”