Four Fundamental Financial Principles To Use Everyday

Managing assets is no easy task, but using fundamental financial principles help. I thought I would share some timeless financial principles that I have seen work over and over again. 1) Avoid needless debt. Sometimes debt has productive uses like a mortgage, but financing things like vacations, entertainment or luxury purchases, will typically hurt you. 2) Before making any large purchase or life altering decision take some time to calculate the cost. We aren't robots but us

What is your financial philosophy?

Whether we know it or not we are all financial philosophers. All of us have attitudes, beliefs, and views on money. One person says money is evil another says by their actions that they worship it...sacrificing their family, health, or conscience to obtain it. Two words and how we feel about them can reveal quite a bit about our views. The words are rich and wealthy. What comes to your mind when you hear the word-rich? What about-wealth? I have found that many people view bei

To Rent or Buy That Is The Question

Buy or rent? That seems to be the age old question doesn't it? Conventional wisdom says renting is a waste of money...but is that right? In the long term it is almost always cheaper to buy...but it may take years for that to be the case. It is important to remember buying a home is not really an investment, as home values do not go up uniformly. By the time you run the numbers with all the costs of a mortgage, taxes, insurance, inflation and repairs...people are not really ga

6 Rules for Surviving Debt

6 Rules for Surviving Debt Rule #1 Prioritize Your Debt If you can't pay everything pay what is going to have the most immediate negative impact. i.e., If it comes down to paying for housing or paying a store credit for housing. See if you can be given some leeway on the less important debt. Rule #2 No Matter What Don't Let Debt, Collectors, Stress or Anxiety Force You into Making Bad Decisions Bad decisions never make bad situations better only worse. Be aware of