The following post was provided by guest contributor. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.
Secured business loans can be an important source of funding but they are not suitable for every business in every circumstance. If a business is struggling, throwing cash at the problem is not always the best solution. Once you factor in the added burden of actually repaying the loan, it could even make any existing problems worse.
The following post is a contribution from Todd. He’s the co-founder and content manager at the Men’s Blog Fearless Men. It’s a blog on Manliness that inspires men to grow strong, get fit, be wise, kick fear in the face and become a better man.
What I admire most about My Money Design is the tagline “Designing Financial Freedom.” I believe that just because you have a dream or a goal doesn’t mean you’ll get there by accident. You won’t wake up in 6 months or 6 years and fulfilled your goal without having done it on purpose. You must plan, you must design how you’re going to build toward financial freedom.
Want to be financially free? Stop living in Financial Fear. A leading cause of paralysis with investors, savers, planners and thinkers is fear. And it’s rarely fear of the unknown. It’s fear of the past, the present, and how our shortcomings can affect our future.
What financial fears might be holding you back from designing your plan for financial freedom?
The following is a guest post by fellow personal finance blogger William Cowie from the site Bite the Bullet Investing. In the post Reader Debate – Would You Borrow Money to Invest in Stocks?, William commented with a great story about his experiences with borrowing against 401k funds to purchase stocks at what he believed was a critical opportunity.
He has graciously volunteered to expand upon that story in this post. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.
Do you hate debt? I do, quite passionately. Few things suck the joy out of life more successfully than debt.
I didn’t always feel this way. Business schools do a great job extolling the virtues of using Other People’s Money. Even the great Warren Buffett has literally billions of dollars in outstanding bonds (which are nothing but the pig of debt with designer lipstick).
But debt kills.
How do I know?
A brief introduction for those who don’t know me: My name is Matthew Allen and I blog over at Dumb Passive Income about all the things I’ve been doing to try to create online passive income. Creating sites and systems that will earn money passively has become an absolute obsession of mine. Admittedly, there is nothing passive about the amount of time I have spent and continue to spend to build up these sources of income. But, I am finally beginning to reap some of the rewards for all of my hard work. The coolest thing about building sites or systems to earn money passively is that once the work is done – you can just let it sit and earn while you work on something else. I’ve experimented with several different strategies, trying to find which works best for me. This is how I got to where I am today…
This post was written by Kevin Donovan from financialupdate.org.uk. He often writes about how the decisions made by politicians and bankers affect our daily lives and the ability to cope with the economic stress of an ever more debt ridden world.
Every day we see large companies take large substantial hits. This one to wonder: If they can’t survive this bleak economic climate, how can we?
The following post is a contribution from Tony at We Only Do This Once. Tony is a trombone player who has performed with major symphony orchestra, on Broadway in NYC, and in recordings and movie soundtracks. He blogs about simplifying your life through downsizing and becoming financially fit.
One of the best and worst things that ever happened to me was that I had a five year stretch of massive raises in income. During this time, I chose to not live off of my old income, and instead buy a ton of stuff.
A year and a half ago, I found myself with debt up to my eyeballs (about $120,000 including my car loans, student loans, and credit card debt), and I decided that enough was enough. I am only a few short months from paying it all off, and I will never go back!
The following post is a contribution from Gary, a personal finance blogger who focuses on investing, saving, real estate, credit and debt, career and education advice, budgeting, and insurance at Gajizmo.com. Gary has worked at an internet company on their M&A team, as well as two private equity firms, and has a Real Estate Broker’s License.
Investment funds allow small and large investors to pool capital together and enjoy higher investment returns with lower risks than private brokerage accounts. Mutual funds offer many benefits, such as easy diversification of securities, professional management, lower trading fees and costs, and increased liquidity. However, investing in these funds requires research. The type of fund an investor chooses should fit his/her financial goals – capital growth vs. income – and investment philosophy, such as managed vs. passive, industry focus, growth vs. value vs. dividend stocks, types of securities purchased (stocks, bonds, REITs, commodities, etc.), and the size of companies in the portfolio.
The below article is composed by Elaine McPartland who is associated with “Consolidated Credit” as their community writer. You can add her at her google+ profile.
When talking about stock investments, the first thing that comes to mind is wealth. It is true that most people who put their money into business stocks do so to multiply it, live a comfortable life, excel at getting rich in the process. However, there is one other area where having stock investments can help you. It is surprising, but stock investments can actually be used as one of your debt reduction strategies to help you pay your credit card bills. By making sensible choices, you could outpace your debt interest rates and achieve the relief you’re after.
The following post was provided by a guest contributor. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.
Meeting a client fact-to-face is a great way to form business relationships. Being able to see and interact with that person adds something tangible to the experience that impersonal methods of communication such as email or even phones call can’t. But travel isn’t always the most cost effective solution. And especially now with all the advancements in digital communication, the economics and advantages of video conferencing may be a more practical solution to the needs of working business professionals.
The following post was provided by guest contributor Jason Bushey. If you are interested in being a guest contributor for My Money Design, please feel free to contact me.
If you have credit card debt, balance transfer credit cards are kind of an incredible option to help you. And odds are you probably know nothing about them…
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