Using Blogs to Learn Great Basic Financial Planning Skills

Basic Financial Planning When I first became an adult with a family and mortgage, I knew that I would have both a responsibility and obligation to make sure that our household was always protected.  That meant not only just working hard and earning a decent wage, but also making sure I at least understood basic financial planning enough that I would be able to engage in some of the many ways to grow your income.

My ambitions started out with reading lots of the best money books.  I would go through page after page trying to find the magic equation for getting rich.  By purposely picking books that were written by millionaires themselves, I thought I would be able to learn from their methods and reproduce their success.

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How to Clear Credit Card Debt By Clawing Your Way Out

How to Clear Credit Card Debt

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?

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Wealth Creation Strategies That Are Within Your Reach

wealth creation strategiesDo you believe that getting rich is something exclusive?  That only certain people are entitled to it, but for some reason you’re not?  If you do think this way, you’re doing yourself a great disservice.  With the information age and all the resources that come with it, there are more wealth creation strategies and opportunities available to us than ever.  Common people like us can take advantage of these tools and build a fortune that will last a lifetime.  But the trick is first being able recognize what’s in your face, and then jumping all over them without hesitation.

 

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The New Oz Movie and Some Blog Updates

the new oz movieThis weekend we plan to take the kids to go see the new Oz movie.  It looks pretty good; and kind of very similar to the recent Alice in Wonderland.  The kids have been eating up all of the commercials and teasing to go see it since they first started advertising for it.

Funny story: A few months ago my son watched the original Wizard of Oz for the first time on TV.  Somewhere during the middle, I asked him how he liked it.  He said it was really good, but that you could tell it was REALLY old.  I was a little puzzled and asked him how he knew that.  He said “because they keep on singing everything”.  :)

 

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How to Reverse Lifestyle Inflation

lifestyle inflationThe 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!

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Finally a Safe Savings Rate for Your Retirement Formula

retirement formulaOne of the biggest mysteries the average working adult faces when it comes to their personal finances is knowing what the right answer is when it comes to the question of HOW much they should be saving every paycheck for retirement?  We’ve all seen generic articles that say to save 10% or whatever, but how do we know that percentage is really the right number to plug into our personal retirement formula?

Even if you did take the time to figure out how much money you’d need and what size nest egg to save for, how do you know what chances your savings target would have of surviving another economic downturn like we had this past decade?  What confidence do you have that the number you pick will result in your savings being able to last through thick and thin?

 

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Our Vacation Dilemma – Plus Blog Updates and a Giveaway

Vacation Dilemma Here is our vacation dilemma: For a few weeks now, we’ve been planning on booking a trip to Disney World.  We took the kids years ago when they were really young and we’ve wanted to go back before they get too old to really get into it.

But I started checking into the price … Holy cow!  It’s looking like $4500 to $5000 for a 5 or 6 night package!

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Types of Investment Funds – Open-End and Closed-End Funds

types of investment fundsThe 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.

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Niche Website Project Part 2 – The Unveiling

niche websiteThank you for being patient with me and returning this week to see the unveiling of my niche site. If you’re just now joining me, then you should know that last week I talked about how I was finally going to get to work on the next of my extra income ideas, and that idea was to create a niche website (a smaller and more concentrated website that is built around a very specific keyword).

If you follow the blog carnivals, then chances are you may have come across it already. But in case you haven’t, without any further ado, here is a snapshot of my niche site project: Read more

My Income Taxes are Done – Plus Blog Updates

income taxesHow good does it feel to finally say you’re done with your income taxes and they are turned in? I’ll be honest: I wasn’t looking forward to it this year.

We had a lot of activity in the MMD household last year: Selling stocks, earning dividends, and the biggest one – having blog income to report. I thought for sure I was going to have to finally pay to have someone else figure all this out for me and prepare my taxes.

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