Posts Tagged ‘savings’
Last night, I was pondering the subject of cash flow (essentially how money flow through our hands) and about financial well being. I played around with various visualizations that consist of income, expenses, debt, and assets. What I came up with was the 5 stages of financial health below.
I believe that all of [...]
Credit cards make it easy for us to buy now and pay later. This mindset is pervasive and dominant in the United States, and it keeps many Americans financially imprisoned. I can still remember when there was no credit card, and I had to save for what I want.
Morpheus offers him the chance to learn [...]
Yesterday I stumbled upon SmartyPig. It is an online piggy bank where you could set up savings goals, and invite family and friends to contribute to your account. While your savings is accumulating, it’s earning a competitive interest rate of 4.30% APY. Once you reach a savings goal, you can choose their SmartyPig MasterCard® Debit [...]
On Monday night, I stumbled upon the Dave Ramsey Prime Time on Fox Business Network Show, and stopped channel surfing to watch it. I heard about Dave Ramsey through my friends; many of whom greatly admire him — e.g., Ana, Randall, Lynnae, Gibble, and Mrs. Micah. Personally, I like how he helps thousands [...]
In the previous lesson with my wife, I taught her about various investment vehicles available at our disposal. This time we discussed choosing the right tool for the job; that is, choosing the best investment option available for various savings goals.
Photo from morgueFile
Common Savings Goals
First, we reviewed some of the more common savings goals. I [...]
Well today is Blog Action Day and a lot of bloggers are blogging about our environment today. Being a personal finance blogger, I am going to make this one related to money…again. A lot of people think that being Green is expensive — e.g., you have to buy Energy Star compliance products, fancy hybrid car, [...]
Last month, I created a plan to save $5,000 a year for my son’s college savings. With a 10% CAGR, a contribution of $5,000 per year should grow to $250,000 in 17 years. At that time, I didn’t know what was the best investment vehicle for this plan. After a lot of research, we finally [...]
This week money lesson was about investment vehicles, so I think it’s appropriate to have an investing themed weekly roundup. Also, I wrote “The Weak Dollar is Killing Americans’ Wealth” for Consumerism Commentary last Thursday, please give it a read if you missed it.
Here are some excellent posts about investing this week:
Brip Blap presents staying [...]
This week lesson with my wife was about different investment vehicles. I am not an investment guru, so our conversation was mainly around the ones we do use. However, I did some Google searches and included other investment vehicles I do not use for the sake of completeness (links are pointing to Wikipedia).
Photo from stock.xchnge
Various [...]
Not long ago, I participated in a conversation on NetworthIQ: “Struggling with breaking the first million mark“. The question posed was about mental focus and persistence needed to get to that magical $1 million mark. However, it got me thinking about the mathematical aspect of it.
As you can see from the chart, if a person [...]
