Are you getting the best rate of return on investment? Kiplinger's Personal Finance Magazine annually discusses ways to boost your investment yield in its latest issue. I have to say that I am always pretty disappointed with their recommendations. I love the magazine, but I didn't really care for a list of mutual funds and Exchange Traded Funds (ETFs). But, I wanted concrete ideas on how to earn a 10% annual rate of return on my investments. US Treasuries are earning less than 1% and money market funds are not fairing much better. … [Read more...] about The Ultimate Guide to Earning a 10% Rate of Return on Your Investments
Is Your Side Hustle Actually Costing You Money?
Nobody knows how many Americans are actually participating in the gig economy; estimates range widely from 4% to 40% of the workforce. What we do know is that some people have managed to successfully transform their former side gigs into full-time work, while others continue working full-time jobs to support themselves and use side hustles as extra income streams to pay the bills and grow their savings. But, is your side hustle costing you money? The problem with side hustles is that they can complicate your income and tax situation much … [Read more...] about Is Your Side Hustle Actually Costing You Money?
How Crypto Scams Are Conning Millions of People Out of Life Savings Every Year
The following is a guest post by Erica Stanford, author of Crypto Wars: Faked Deaths, Missing Billions and Industry Disruption. If you'd like to submit a guest post like this one about crypto scams or any other topic, please check out the Money Q&A guest posting guidelines. Crypto hacks and scams are big news and are getting more sophisticated by the day. Where a few years ago, one could look at the larger scams, and in the vast majority of cases, see signs of a Ponzi scheme or at least see an indication that all was not well, today, … [Read more...] about How Crypto Scams Are Conning Millions of People Out of Life Savings Every Year
6 Financial Considerations to Make Right After Getting Married
In an ideal world, we would all be on the same page as our life partner when it comes to money management practices and even just basic openness and honesty about finances. However, the reality is that people rarely dedicate enough time to discussing the financial side of being in a committed relationship until after they get married. Whether you know very little about your fiancé’s finances or you’re both completely open with each other about your individual and shared financial situations, here are 6 considerations to your married … [Read more...] about 6 Financial Considerations to Make Right After Getting Married
The Pros and Cons of Alternative Financial Services
A recent study found that 42% of Millennials have used alternative financial services and 39% of the general population has used these services, which include payday loans, pawnshops, rent-to-own programs, and car title loans. Short-term loans are often risky for borrowers, but there could be some advantages to taking out this type of loan if you’re in a pinch. Pros and Cons of Alternative Financial Services To help you decide whether alternative financial services might suit your financial situation, here are some … [Read more...] about The Pros and Cons of Alternative Financial Services
Ask Trim Review – Save Money with Trim Automated Finance Personal Assistant
If you find yourself struggling to save money or find other areas of your budget to cut back on, then you’re not alone. Millions of Americans want to save more money, but it’s easier said than done in many cases. After all, it doesn’t just come down to an individual’s financial discipline. For instance, consumer cable bills have risen 40% between 2012 and 2018, which isn’t something you can easily control for, thanks to the relative monopoly status that cable companies have in their markets. Fortunately, free personal finance apps like Trim … [Read more...] about Ask Trim Review – Save Money with Trim Automated Finance Personal Assistant
Is Sunk Cost Fallacy Ruining Your Finances?
The popular A&E television show Hoarders features a range of people struggling with extreme compulsive spending and hoarding behaviors that often impact their living circumstances, relationships, and mental health in a myriad of negative ways. A common pattern that arises during the clean-up phase is the hoarders’ unwillingness to part with items they perceive as having a lot of value, even when those items are clearly broken, useless, or even contaminated. Their rationale for holding onto an excessive amount of items often involves their … [Read more...] about Is Sunk Cost Fallacy Ruining Your Finances?