Every year, we set up big audacious goals that we want to accomplish in the new year. Somehow, we are magically more likely to succeed because a number changed on the calendar. Personally, I subscribe to another method: achieving financial success is making the commitment to take a series of small steps in the right … Read more
Personal finance can be intimidating, but it doesn’t have to be complicated. Making the most of your money starts with five building blocks, or the 5 Pillars of Personal Finance: (1) Earn, (2) Spend, (3) Borrow, (4) Save and Invest, and (5) Protect. 1. Earn The ability to make more money is the single most … Read more
As a sole proprietor, independent contractor, or self-employed individual, you may be eligible to receive assistance under the Small Business Administration’s Paycheck Protection Program (PPP). Below are key details released by the SBA on April 2, 2020: What is the Paycheck Protection Program (PPP)? It is an SBA loan program that helps businesses keep their … Read more
Dave Ramsey’s Baby Steps is a financial plan designed to help you get your finances in order, get out of debt, and achieve financial freedom. Dave Ramsey has taught these 7 Baby Steps to millions via radio, The Total Money Makeover, Financial Peace University, and DaveRamsey.com. But how practical are these steps? I offer a review and … Read more
For parents who are saving for their child’s college education, the main concern is not being able to save enough. The first step is to decide if you’re in the position to help your child. This may sound harsh, but your finances take precedence over your child’s college savings. Goals like paying down your debt, … Read more
Keep It Simple, Stupid! You’re probably familiar with the KISS Principle. If you are feeling overwhelmed by your finances, you can reduce financial stress and improve your quality of life by reducing, consolidating, and automating your finances. Here, we will be covering a few ideas to help you do just that. 1. Automatic Deductions You … Read more
One of my favorite subjects is wealth building. At the most basic level wealth, at least your financial wealth, is your net worth. Although there are many beliefs and philosophies on how wealth could be accumulated, the mathematical nature of wealth is all the same: Wealth = Net Worth = Assets – Liabilities. How Net Worth … Read more
Chances are, you know who Warren Buffett is. He’s one of the richest men in the world, and he’s famous for his ability to spot a good investment. He’s also a famous penny pincher who makes it a point to get good value for whatever it is he buys. He also famously gave one of … Read more
Once in a while, you will come across mathematical shortcuts or trick to help you better manage your finances. Here are some cool financial math tricks and rules of thumb that I know. These are pretty common so that you may know them already. Take a look and see if you know any of these? … Read more
Logan Allec is a CPA, personal finance expert, and founder of the finance blog Money Done Right, which he launched in July 2017. After spending nearly a decade in the corporate world helping big businesses save money, he launched his blog with the goal of helping everyday Americans earn, save, and invest more money. Here … Read more