I first introduced this idea back when I saw someone whose work I admire, Dave Ramsey, tout some rather uninformed financial advice on “buy term insurance and invest the rest” to his huddled masses. This time I take a look at a long list of shallow financial advice published for the sole purpose of “looking useful”, rather than being effective. On the surface the suggestions might sound good to the casual reader, but without discussing related information and situations, can be misleading and financially riddled with hazard. So, let’s dispel some poor financial advice. Continue reading “Thick as a Brick Award – June 2018”
When you keep a budget, you should know where your money is, where it went, what it’s being used for, and how much you have reserved for your personal use. The reason that many people don’t have money is that they don’t plan to have money. Really, that’s not a flippant statement. People who have money have made a plan to have money; meaning they’ve made a decision and a plan to not spend everything they make. Continue reading “Guilt-Free Spending (part 2)”
Empowered to do what you’d like to do and to be who you’d like to be. All too often these days people, organizations, and ‘authorities’ are making all too many decisions ‘for your own good’. If you’d like to retain or recover more of the ability to make your decisions based on your own values, you might want to ‘empower yourself’. And you don’t need anyone’s permission to do it. Continue reading “The Game You Write Your Own Rules For…”
As I was researching some ideas for debt reduction I came across this article published on the AARP site. As I read through the suggestions I couldn’t believe some of the ideas that the author was recommending as a ‘good’ overall financial strategy to reduce debt.
My comments and analysis follow the tenets of the AARP article advice which is highlighted in Bold. Continue reading “The Worst Debt Reduction Advice…”
I agree with many things that Dave Ramsey says, this is one of those rare, yet glaring exceptions.
On a Facebook Meme this morning, Dave Ramsey issued, “Debt is dumb. Cash is king.” Without further explanation, I must take an exception to this blanket statement.
USAA recently pulled its advertising from the Sean Hannity show on FOX’s news network due to the political content and thousands of clients are dropping their accounts!
While it’s a good thing to recognize market extortion when you see it, and even more impressive to take a stand and react to it actively, many people make decisions like this emotionally without considering related consequences. Moving your business from a company with whom it offends you to continue doing business is a positive reaction, but doing it properly with a little forethought for how it affects you can either hit or protect your wallet. Continue reading “USAA and Fox’s Sean Hannity”
I can relate to hesitation about a belief in financial success. When I was younger I chose two careers that interested me greatly, but didn’t pay particularly well; music and photography. I enjoyed them both, and I was good enough at each to scratch a living from them, but financial success or excess was not within my reach at the time I was pursuing these careers. I have been deeply in debt, and I have been unemployed. Those problems have solutions. I have solved each of those problems more than once in my own life.
This article is written to offer you encouragement that whatever your financial situation, you can improve it. My mission with the MoneySmart Solutions book, davidpandone.com, and my Wealth Strategies activity is not to make you rich, though you can certainly achieve that with the skills I can teach you. More work with the same skill set that solves a debt problem can produce an excess that will generate more money than you need. That is what creates wealth: simple skills and proper habits. That’s what the skills learned in the MoneySmart book and information at davidpandone.com can help you learn. At that point you’ll have another problem: ‘how do I protect what I’ve created from those that will gladly take it from me?’ That’s where I can help you with my Wealth Strategies activity. On both sides, both broke and wealthy, there are issues to deal with. Continue reading “Simple, But Easy?”