Easy Change

Well, with a recent windfall, it was possible to retire a significant bill which was costing about 250 minimum in cash flow each month. However, this was a bill that was being paid extra on, so strictly speaking, this is more like a 500 dollar increase in monthly cash flow. Getting debts paid off is really great for three reasons. The first reason is the increase in cash flow. The second reason it is great to pay off debts is the emotional feeling. In reality, the debtor really is a slave to the lender. And I know that people will feel that this is a somewhat dramatic stance to take, but I feel like it is true. Each time I pay off a debt, I feel more and more free. Finally, the great thing about paying things off is knowing that it is over. In a strange way, finishing a debt is like crossing the finish line on a long race. And when extra income comes in, it is like a windfall, a burst of energy that cannot be missed.

As I talked about early on when I started this blog, I started my financial journey when I read some of the various big name personal finance books. I started with some books by Suze Orman and also with Rich Dad, Poor Dad. I still like these books and feel that they have their own viewpoints and information to offer. As I started branching out into various types of investments and more of this end of personal finance, I wanted to learn more about stocks and other types of investments. I went with a big name and read the current Jim Cramer book that was going on at the time. I like watching CNBC and the like but more than any specific show, I really feel like there's a major point that is critical to keep in mind with regard to personal finance. And this is it: You must continually educate yourself with regard to personal finance, reading, learning, and evaluating new ideas and investments with a critical eye. Its not simple enough to read these books, watch these shows, or consume ...

In order to take advantage of some of the slowdown at work, I've decided to take tomorrow off. This is something that you might want to consider as well. You don't need to take a week off to be in need of a break. Personally, I've been going on all cylinders for many months now and I am starting to take a hit for it. But I think that I am coming to the end of this long run of work and then there will be a break before the big batch rolls around again. Employers Cash In when you don't use your paid time off that is allocated to you. I'm not telling you to fake sick to get time off. Rather, im telling you to be aware of your company's time off policies and ensure that you don't lose any time as a result of "capping out" on your accruals. For me, this is not the case, but I work with people who for one reason or another feel the need to constantly keep the maximum amount of banked vacation days. Then each month or two they are scambling to find some ...

Ok, if you're like me, you've finally gotten the last item you need to start working on your tax return. But before you can do that, you need to figure out what you need, and where you put it, likely in a mountain of paper. Here's what I've done so far for the past few years; it seems to work well for me. 1. Make a list of all of the items that you will need in order to complete your return. For me it is mortgage interest statement, student loan interest statement, checking account statements, auto-loan interest statements, and finally, w2s and 1099s. Once you have your list, you are ready to obtain the items you need. 2. Leverage web-access to get these items sooner. You can generally setup accounts and passwords for these websites and access the information faster to get your return underway early. 3. Eliminate the clutter. In order to keep good track of your financial paperwork, it is critical to get organized. It only takes a couple of hours every few months to ...

Here are three excellent links that I liked this week. If you are like me, the chances are that you will find them to be thought-provoking. The pets link especially is a great starting point if you want to consider the cost of pet ownership. A neighbor of mine had no idea how expensive it would be when she took in a stray cat. Vet bills topped 1000 dollars when she found out that the cat had some significant medical problems. Wandering Tax Pro Blunt Money Talks about Pet Ownership Keep Receipts for Donations

Forbes wrote this article that is a bit of a laugh if you have a spare minute. I especially got a kick out of the "Spam" entrepenuer. Here is the article in all its glory if you are interested in reading something fun. In holiday shopping news, I am going to try to finish up my shopping with Mom tomorrow. That will put me squarely on task to start planning the Christmas party I am throwing next Saturday. Wish me luck, bargains and good holiday budgeting! :)

Not long ago, I read an interesting article where Steve Pavlina explains how to improve technical skills . This got me to thinking about the opposite side of the cashflow equation: the income side. Most people in the personal finance community seem to focus on saving money, and being frugal, and minimizing expenses. All of these are items that are generally about the expense side of things. But the income side should not be forgotten, just because it is often more difficult. Getting a higher-paying job is often the most straightforward ways to improve your income. However, most people often stick in their current position or field when taking the next position. However, this is not always where the most money is made. After taking Steve's tips and a strong work-ethic, it is possible to perhaps branch off into other related fields, or at the very least become proficient in these skills. 3 Reasons it matters: 1. Learning more skills may change your ways of thinking. Often, problem...

There is no avoiding it, the debt-income equation is the key to everyone's financial future. It is a key factor for everyone's fico score. If your monthly debt exceeds your monthly income, you are in trouble. It is that simple. And many people are in the same boat. The average credit card debt in the United States However, if you are in debt, how can you hope to repay it? Often times, interest rates for credit cards are the culprit. If you have a good credit score (check it at freecreditreport.com ), you may be able to do a balance transfer or negotiate with your current lender to reduce your rate. But what do you do when there is no way to get the rate reduced? Here are some options: 1. If you have an emergency fund , consider using that savings (either some or all) to pay off your credit card debt. It is likely that in this case you can mitigate your risk by paying it off in chunks over time to save money in interest and make sure you can handle any new expenses with existin...

Recently there was an article on InvestorGeeks about whether or not you should buy or rent. I am a proponent (for the most part for many people) that renting is the way to go. If you a renter and you have decided to embark on that quest to buy a home or condo, there are a few things that I would advise you to do and consider during the process that might save you tons of time and sanity (and that I wish I knew before I started!). Before the Purchase: 1. Consider the type of Real Estate broker you are getting. If it is someone you know and trust, that is great. However, be aware that there are two types of brokers - a buyer's broker and a seller's broker. Even if you walk into a real estate office and get an agent on your own, they might not be acting completely on just your behalf. It is possible to have two 'sellers' agents that is - each one advocates for the seller, even though one works with you to close the deal. Consider this before you commit to an agent. 2. Take...