The Only Two Numbers You Should Measure in Your Finances

The Only Two Numbers You Should Measure in Your Finances

The numbers that you monitor with your finances matter.What do you measure in your life? Do you count calories? Do you count how many visitors check out your website everyday (or every hour if you are me)? You should be counting things in your life.

Counting implies that there is a goal in the end that you are counting towards something in the end. Thos with a goal have been shown in studies to ultimately be more successful in life.

A study of Harvard MBA students in 1979 who were followed for ten years found that the 13% of the class who had made goals for themselves were earning, on average, twice as much as the other 84% who had no goals at all.

In fact, 3% who had written down those goals were earning, on average, ten times as much as the other 97% put together. What you measure in life matters. It draws our focus to it like a laser. So, what are you focusing on with your money?

Measure Your Finances With Two Numbers

You Should Measure Your Net Worth

You should know how much you are worth. You should keep track of this number every month. You should have it written down and should compare it to the previous month’s outcome. How did your investments do?

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Three Types of Insurance You Need to Buy Now to Protect Yourself

Types of Insurance You Need to Buy

Insurance is one of those topics that people do not want to discuss. No one really wants to think about when they will die, getting sued, or becoming disabled. No one wants to talk or think about dying, getting sued, or becoming disabled. But, there are types of insurance you need to consider to protect yourself. But, the people who are hurt the most are our family members when we do not have the proper insurance plans and coverages. Unfortunately, there are many types of insurance that you need to consider owning. Below are some of the most critical ones. Three Types of Insurance You Need Term Life Insurance I’m a huge fan of term life insurance over whole life insurance. … Read more

Dissecting My Twelve Loans That Defaulted On Lending Club

Lending Club Passive Income With Automated Investing

Lending Club Passive Income With Automated InvestingLast week I made a horrible confession. I am a greedy investor, or more importantly, I WAS a greedy investor when it came to my Lending Club account and investing in peer to peer lending loans. But, I have learned the errors of my ways. I love Lending Club and the idea of earning a great rate of return by investing directly in peer to peer loans of people who need funding and may not otherwise receive it.

So, I’m not giving up on investing in peer to peer lending through Lending Club. I’m trying to be a better loan picker and evaluator. So, here are a few areas that my Lending Club default loans have in common. Maybe by understanding a little more about why these may have defaulted, I can avoid making similar mistakes going forward in the future with new peer to peer loans.

Traits Of My Defaulted Peer To Peer Lending Loans

36 Month Maturities

Every single one of the 12 loans that I have that defaulted have a 36 month length of maturity. This is a little hard to gauge because I started investing in some of these peer to peer loans before Lending Club started offering five year loans.

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How I Got Greedy and Lost My Shirt with Peer To Peer Lending Loans

I completely messed up investing in peer-to-peer loans through Lending Club because I was greedy. Jim Cramer is famous for saying that both bulls and bears can make money, but pigs get slaughtered. What he means is that it is one thing to make money or make a living with your investments. But, to try and make a killing on them, you will often be crushed by those very same investments. I’m ashamed that I got greedy with my Lending Club investments, tried to push the envelope, and got burnt. Keep reading to see what happened and what I’m doing now with the new loans I’m investing in through Lending Club. Peer To Peer Loans And Lending Is Awesome I don’t … Read more

Top 3 Easy Places to Find Money in a Pinch When Times Are Tough

Find Money In A Pinch

Surveys have shown that most Americans, 60% to 70%, live paycheck to paycheck. There will always be hiccups in your personal finances, and those tough times are often multiplied if you do not have a written monthly budget. But, how do you find money to pay your bills on short notice if you are in a pinch? Going to a payday lender should be one of your last resorts because of the enormous amount of interest you will ultimately pay on such a short-term loan. Payday lenders provide a horrible service that preys on struggling people and allows you to roll short-term loans over with interest continuing to build and build. But, you do have other options if you need … Read more

Top 10 Simple Ways to Save on Your Electric Bill This Winter

Save On Your Electric Bill This Winter

This past week has marked a turning point in the South, with temperatures noticeably dropping and long sleeves and pants making their comeback out of the depths of our closets. I routinely see my electric bill almost double during the winter while switching on my home’s electric heating unit. Electricity costs can eat up a substantial portion of your monthly budget if you are not careful. Households that use heating oil and gas do not fair much better either. In fact, the average home using heating oil spends over $320 per month, and gas users pay over $160 each month, according to Money magazine. But, there are ways to curb the cost of electricity, lower your heating costs, and save … Read more