Keeping a budget works like a diet. Some diets require you to write down everything you eat and count calories, shares, ranking, or other food units. It makes eating more painful, causing you to eat less.
One of my favorite Christmas movies is the version of “A Christmas Carol” starring George C. Scott as Ebenezer Scrooge. I confess that I understand Scrooge’s character.
Admit your past debt mistakes readily. Like a former alcoholic you must be constantly vigilant against slipping up again.
You bought more things than you can pay for. That is an error in judgment. Given the evil in the world, your small financial troubles aren’t that bad.
Only after you have steeled your resolve not to borrow any more money are you ready to deal with paying off your current debt.
By definition, to get rid of consumer debt, simply stop borrowing money.
We are losing many potential asset management clients because of credit card debt! The difference between those in debt and millionaires is as small as slight changes in financial lifestyle.
Great financial wealth can be built by living a beer and chips lifestyle on a champagne and caviar budget!
No matter what worthy organizations you support, you can give up to 15% more if you give them appreciated stock instead of cash.
Despite your political persuasion, Governor Gray Davis shows how even the golden goose can be cooked. His mistakes rightly deserve the ridicule he has received.
October is a good time to review your portfolio for investments that can be sold for a loss.
You can learn a lot about financial management from snapping turtles.
“Bet on red.” replied my mother, “Now, let’s talk about how much risk you want to take.”
Inflation ultimately has to rise and keep pace with increases in the money supply.
It is usually better to be a seller of options than a buyer of options.
All investors should have a certain measure of foreign investments. That may sound scary, but not as scary as putting all your eggs in one country’s basket!
While everyone agrees that you should be diversified, it is important to know what your manager means by the term “diversified.”
In addition to registering for a blender and picking floral arrangements, make sure that your marriage has the financial accounts and monetary habits necessary to meet your shared financial goals.
The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up at the table anymore.
If you add the costs of complying with government regulations, the cost to society is over 50%. Imagine the economic boom if the other half of workers’ labor were set free to boost productivity!
Today, we have 8,269 mutual funds. About one-third of all common stocks are held in mutual funds.
In the US we allow companies to go bankrupt when they cannot succeed in business.
Recently record amounts of money have been taken out of stocks and put into bonds. These investors assume that at least their money will be safer in cash or bonds. These assumptions are wrong.
If you think estate planning information is hard for you to pull together, imagine how difficult it will be for someone else who is asked to fill your shoes in an emergency!
If you rely on a commission-based financial product salesperson, you will probably be sold the wrong kind of funds.
Congress contributed greatly to the bubble through the distorted incentives created by the tax code.
These are no longer the questions of the idle rich desiring to hoard their inherited wealth.