The below article was composed by contributor Elaine McPartland. If you are interested in writing for My Money Design, please feel free to contact me. Debt, in general, can be extremely difficult to get a handle on. Between the misleading terms and harassing creditors, you may feel lost in a sea of uncertainty. Fortunately, there are ten easy ways for how to pay off debt fast that you can tackle and attain financial liberation once and for all. … [Read more...] about How to Pay Off Debt Fast in 10 Easy Ways
8 Quick Money Making Ideas For An Extra $100 to Invest
The following contribution is by Pauline Paquin from the blog Reach Financial Independence. Pauline has just launched a new site called Make Money Your Way to help readers diversify their sources of income with real estate, investing, entrepreneurship and online endeavors. Born and raised in Paris, Pauline writes about how she has been traveling the world for the past 10 years, while trying to build wealth and achieve financial independence, and how you can follow your dreams and reach your goals too. You can follow Pauline on Twitter @MoneyYourWay. If you are a regular reader of My Money Design, you know by now that the best way to build wealth is to make your money work for you, and not the other way around. How does one do that? By … [Read more...] about 8 Quick Money Making Ideas For An Extra $100 to Invest
Why Total Return Investing Is Better Than a Dividend Strategy
The following is a guest post from Matt Becker, founder of Mom and Dad Money. Matt is a proud father and husband, and his site is dedicated to helping new parents build financial security for their family. Although Matt and I have somewhat different personal opinions in regards to dividend strategies, I thought it might be fun to invite him to take the stage and share his perspective on why he thinks Total Return Investing would be better. I've always maintained the message on My Money Design that there is more than one way to reach financial freedom. If you can keep an open mind and not reject something just because it is different than what you use, then maybe you might just learn something. Go ahead Matt .... If you have … [Read more...] about Why Total Return Investing Is Better Than a Dividend Strategy
Is Financial Fear Paralyzing You From Being Financially Free?
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 … [Read more...] about Is Financial Fear Paralyzing You From Being Financially Free?
One Man’s Success With Borrowing Against 401k Funds for a Comeback
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 … [Read more...] about One Man’s Success With Borrowing Against 401k Funds for a Comeback
Taking a “Pay Off Credit Card” Niche Site to the Next Level
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 … [Read more...] about Taking a “Pay Off Credit Card” Niche Site to the Next Level
How to Reverse Lifestyle Inflation
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 … [Read more...] about How to Reverse Lifestyle Inflation
Types of Investment Funds – Open-End and Closed-End Funds
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 … [Read more...] about Types of Investment Funds – Open-End and Closed-End Funds