Personal Finance Archives - Page 6 of 11

What is the Daily Interest you pay?

Hello friends I want to ask you an important question today, what is the daily interest you pay on any loans you’re currently holding? If you do this research it will take you no more than 15 minutes to complete, and did you know it can help you be debt free sooner. Most lenders charge a daily interest amount, and you can find it by multiplying the full balance owed, by the (APR) Rate, then divide that by 12 to get the monthly amount you are being charged.

To take this calculation a bit further divide that amount by 30 to give you the daily amount you pay in interest. Doing this financial exercise can make you aware of what’s beilng robbed from you every day by holding that horrible debt.

The Average Person will Pay 279,000 in interest payments. (See Below for the article)

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How can Will Power affect your Finances?

how can will power affect your finances

Can having weak or strong will power affect your finances? I believe it can and if you struggle to maintain the will power to say no, then you can ruin yourself. Just like the person struggling with over-eating, they know they must eat better to stay healthy but they have low will power to change. Finances are the same because people with weak will power for the most part cannot say no to adding new debt, living above means, splurging on wants. Yes I might be striking a nerve with some readers because they are full of excuses behind the ability to modify behaviors. But I am doing it, to show you how money can be broken down to simple choices like facing your inner willpower.

I speak with purpose because I see it everyday many people not facing their ability to say no or adjust lifestyle to current life situations. Somebody wants to lose 40 pounds but then they continue to eat the daily bagel with cream cheese. They want results but then do not hold their actions accountable. (It boggles my mind the lack of focus for will power) For example somebody who wants to be debt free, but continues to live life adding new debt. Having willpower is so transparent to me, but not so easily understood by others. I am always eager to share my thoughts with all of you, and I want you to have strong will power. How can you begin to have better will power?

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The Pay Debt Now Method

If you could be debt free today would you pursue it? Why for heaven’s sake do people seem content to stay burdened for so long, sending only the minimum for years to lenders. I don’t know about you but I want my future income to be all mines and not some banks. Do you know the banks are smiling every time you send the minimum in month after month? That means they have you beholden to them for that much longer. Hence you are their bank roll and source of future revenue. Keep reading so that I can explain further how we all can use the pay debt now method to change our lives.

Enough is enough and I want you all to do well financially. It’s time for a change with how we view credit and debt. If you can’t afford expensive items, think very hard if you will appreciate it after 5 years paying for that product, Time is good at making most of us seem like our choices didn’t make sense back in the past. Now that you understand the thought process, how can you solve debt issues today?

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The Reason People Subconsciously Do Not Save Money

The reason people subconciously do not save money — Once we’re gone we cant enjoy anything, but that shouldn’t hinder your thought process about savings today.

Why do most people find it difficult to save a dollar? I think I found the answer and it will either speak a sense of truth in your life or you will dislike what I am about to say. This idea was created by speaking to certain people who constantly say you can’t take it with you to the grave. Do they really justify not saving because they think they will die soon? Also by watching the show the walking dead, where walkers roam aimlessly around the planet. The reason people subconsciously do not save money is because a part of all of us has that little feeling we might not be around to enjoy it. I can’t believe I actually said that and I will probably get some flak for it. We all have a live in the present, as happy as can be mindset because we might not be around to enjoy it.

The second reason some people do not save money, and I will save this topic for another post, is that the government will find a way to take our retirement savings. If the government takes our retirement savings, believe me we all will have greater issues than just money at that point. Can we say Anarchy at that point in time!!! We great citizens of the USA make on average about $100-150 dollars a day and we cannot find it in us to save $5 dollars per day. Why is that so? Do you ever question in full reality why Americans have a government reported savings rate of about 5% or less. If you do question the reason people subconsciously do not save money could it be because of thoughts based about death in your opinion? (Morbid yes- truthful Heck yes)

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Personal Finance Sayings 3

personal finance sayings 3

Wow this is the last personal finance sayings post. It has been a bumpy ride with all the idioms based around money. It is always fun to quote some classic financial, back-handed, straight to your gut money sayings. I hope you read part 1 and part 2, but if you missed them go back and enjoy the awesomeness. Keep on trucking my financial friends and if you ever need anything don’t call me, find me on Twitter.

Side Hustles – really cool part-time jobs mostly tax-free paid pass times.

Smart Money – money handled by financial smart individuals

Stacking Method –paying the higher interest rate debt first, then move on to the next highest interest after you pay off the 1^st

Stacking Benjamin’s – building your money pile as quickly as possible

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Personal Finance Sayings 2

personal finance sayings 2

Its time for the best personal finance sayings 2. Do you want to know a secret I came up with all of these definitions merely from my experience with finances. Now does that make me a financial guru? Sure if you want to throw a label my way go right ahead I don’t mind. I hope you enjoyed part 1 of the personal finance sayings. I am on vacation this week and I wanted to leave you with something not overly complicated like 11th grade algebra. So lets all laugh and learn together about these fabulous personal finance sayings 2 listed below.

Indexing – Buying the whole market with a set it and forget it investing style

Invest in yourself – on occasion forgo investing in the stock market, and use money to take a class to improve skills

The Dave Ramsey Plan – financially living on the 7 baby steps plan, banning all debt and cutting up credit cards while driving a beater

It’s time to pay the piper – you can only put off paying off debt for so long, eventually you have to pay it back.

It’s Not what you make its what you keep – simple and straight to the truth phrase for those folks who like to spend every last penny of their paychecks

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Personal Finance Sayings

This is the 1st part of a collection of widely used personal finance sayings, words, phrases, or quotes and my comedic explanation or definition behind the meaning of all of them listed below. I decided to break up the post because together it was going to be over a thousand words. If you have any feedback or childhood stories about the phrases below please leave a comment so we can all laugh. Its Friday so lets have fun and keep the finance talk very light.

A bird in the hand is worth two in the bush – it means be happy with what you have and avoid risk / greed by trying to double what you already have

Acting like the Joneses – Spending like there’s no tomorrow or living above means or trying to keep up with others spending levels

A Penny Saved is a penny earned – basically to save, but with hints of watch your spending because spending is the root of all evil

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When a Financial Emergency Strikes

Do you know what to do if a financial emergency strikes all of a sudden at your doorstep? Well during this time people might feel the need to panic and begin to do irrational things with their money. For example doing cash advances with a 20% or greater interest rate. Emergencies usually are based on various levels to different people, and it is on you to assess things before running to one of the worst financial lending institutions like payday loans sponsored by a famous 90’s talk show celebrity. This article is going to be based on a fictional emergency level 7, which results in an emergency that is not life threatening. (Level 10 would be the highest level) Ok now let’s discuss the steps anyone can take to get out of the emergency and not to hurt ones wallet too drastically.

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