Business is about taking risks to earn a profit. However, there are some risks that can creep up on you slowly or swiftly that can either destroy or greatly damage your business. Health Issues: As we get older, health issues become a larger risk. Common and sudden issues can include heart attacks and strokes. The […]
Debt
Do You Want a Free Credit Report?
Anytime you hear the word “Free” there is usually a catch and the free item isn’t really free. Surprisingly, you can receive a free credit report by doing this: Type annualcreditreport.com into your browser, click on “Request your free credit reports,” and start the process. It will take you less than 10 minutes and it […]
Wanna Be More Comfortable Financially?
Isn’t this what everyone says, that they want to be more comfortable financially? There are two ironies that are common with this thought, but you can do something about it. Scenario #1 In this scenario you are making a good living, saving plenty, built up a good portfolio of assets, and have little to no […]
Why You Shouldn’t Sell Your First Home
The common scenario is this: purchase a small, starter home and then move after 5 to 10 years into another, much larger home. But is this a prudent move or are there other options? There is one, largely overlooked option, that can have a great financial impact on your finances. The option is to move […]
Are You Thankful for What You Accomplished?
Happy Thanksgiving! We should always be thankful for everything in our lives, including people, things, and accomplishments. Sometimes we take our accomplishments for granted, and it is good to examine the past to see just how far you have come. Here are some examples: New home: Whether you just purchased your first home or moved […]
Instead of Taking out More Debt, Do This Instead
One of the first ways most people try to cover a financial shortfall is to incur more debt. Whether this is to support a struggling business or even on a personal level. This may be a solution in some cases or may be used in conjunction with other financial methods. However, there is another solution […]
Use the Snowball Effect to Get Better Financial Results
According to the Cambridge Dictionary, a snowball effect is a situation in which something increases in size or importance at a faster and faster rate. It sounds too simple and general, but it is a useful principle that can be used to achieve significant results over time. Practical examples of this are as follows, along […]
A Silly Trap When Trying to Pay Off Debt
I have had numerous clients tell me that they are paying off their debts early, whether it is a student loan, car loan or mortgage, which is very admirable. However, they really aren’t paying off their loans early. How can this be and why? The reason is simple. They are not actually paying off their […]
Is Debt Good or Bad?
What are we to believe? Is debt good or bad? On one extreme are some financial pundits that say to go into debt and use other people’s money to make money, and on the other extreme are experts that believe that any form of debt is bad. Who should we listen to? Ignoring the rare […]
How to Prepare for & Prosper from the Next Recession
We are currently in one of the longest economic recoveries ever recorded. That is excellent news, but on the flip side, we are due for a recession. Who knows when that will happen, but there are steps to take to prepare yourself and possibly take advantage of any future downturns: Don’t Live on the Edge: […]