Paying Off Debt — What Actually Works
Paying off debt is one of the most common financial challenges I have helped people work through, and one of the most misunderstood. I have been in some type of a finance role my entire life. Along the way I…
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What Researching One Stock Actually Looks Like: A Walkthrough Using Johnson & Johnson
In a recent post, How to Research a Stock Before You Buy It, I walked through the framework — what to look for, what matters, and why. This post is meant to accompany that one with a real stock research…
How Many Stocks Should You Actually Own?
In How to Research a Stock Before You Buy It, we covered the basics of figuring out whether a company is worth owning. Once you start putting that knowledge to work, the next question is — how many stocks should…
How to Research a Stock Before You Buy It
In my last post, ETFs and Index Funds vs Individual Stocks, we talked about when it makes sense to start adding individual stocks to your portfolio. If you have decided you are ready to take that step, the natural next…
ETFs and Index Funds vs Individual Stocks: Which Is Right for You?
If you have read What Is an ETF? and Index Funds vs ETFs, you understand how to get into the stock market with one simple investment that instantly diversifies your money across companies and/or technologies. The next question almost every…
Index Funds vs ETFs: What’s the Difference (and What Actually Matters)
If you have learned what an ETF is, you have probably come across the term: index funds. In What Is an ETF?, we discussed the confusion of where to put your money once you have started saving it. Stocks, bonds,…
What Is An ETF? A Simple Beginner’s Guide
If you have started saving money — or are starting to think about it — or are sitting on money you have been afraid to invest — the next question is simple: What do you actually do with that money?…
Start Saving with Your First Paycheck
As retirement is likely not on your mind when receiving your first paycheck, it is easy to think that saving some of that first paycheck doesn’t really matter. This is why it is so important to start saving with your…
Your First Paycheck: What to Do Before You Get Paid
You just got hired. Congratulations! Whether this is your first job in high school or your first career position out of college, the decisions you make now can set financial habits that follow you for decades.Learning how to prepare for…
Tracking Your Money vs Controlling Your Money (They’re Not the Same)
Introduction Building a budget is critical as I talk about in Budgeting 101. Tracking your actual expenses versus that budget is also critical. While these steps are crucial, they don’t serve much of a purpose unless you modify your behavior…
Learn in Detail, Live in Simplicity: Why Money Systems Matter
Introduction I believe a budget is a critical step on the road to building wealth. Most people don’t have one—at least not one that reflects how they actually spend their money. Because of this, most people don’t fully understand where…
The Beginner’s Guide to Building Wealth
Introduction Most people think building wealth is out of reach—and because of that, most people don’t think about it at all. That mindset is a big reason why so many people live paycheck to paycheck. This beginner’s guide to building…
Why I Never Use a Debit Card (And You Shouldn’t Either)
Your debit card is more harmful and risky than you realize—and it could be costing you in ways you may not have considered. One of the most common mistakes I see people make is using a debit card over a…
Why Your Checking Account Balance Lies to You
So much of the country is living paycheck to paycheck. In my opinion, one of the contributing causes is the way people view their checking account balance. If you are like most people, you log into your bank account or…
How to Stick to a Budget (Even If You’ve Failed)
If you have ever made a budget, used it for a few weeks, and then completely ignored it, you are not alone. Budgets are a lot like New Year’s resolutions. They start with great intentions but fizzle out quickly. Most…
The 50/30/20 Rule: The Budgeting Formula That Simplifies Your Finances
Introduction: Budgeting Made Simple At BUDGETING 101, I speak to how important it is to budget your expenses on the path to building savings. I personally budget my life across 30 items (personal savings, college fund, auto repairs, food, entertainment,…
How to Break Free from Financial Stress and Build a Better Future
I recently came across a survey from 2020 titled Mind Over Money, conducted by Capital One and The Decision Lab. It provided helpful insights on financial stress relief for those struggling with monetary concerns and looking for advice on how…
Understanding Cap Rates: A Beginner’s Guide to Real Estate Investing
If you’re starting your real estate investing journey, you’ll quickly come across the term Cap Rate. This is short for Capitalization Rate. While not a perfect science for evaluating properties, Cap Rate is a great starting point to assess a…
How Much Should You Really Spend on a Car?
Introduction There are a wide variety of opinions on how much you should spend on a car. While there are formulas to help guide you—and I’ll share a few in this post—the truth is, beyond the math, it comes down…
Debt-to-Income Ratio (DTI): Why Income Alone Isn’t Enough
As I discussed at The Very Basics of a Home Loan, Debt-to-Income (DTI) is one of three important criteria in qualifying for a home loan. Credit Score and the amount you are using as a downpayment are the other critical…
Refinancing the Right Way: When It Builds Wealth—and When It Costs You Thousands
Refinancing the right way is not always as straightforward as it sounds. Over the years I have witnessed so many friends refinance for all the wrong reasons. There are certainly times when a home refinance makes financial sense but just…
The Very Basics of A Home Loan
There will be other posts here that go into greater detail behind home loans and the qualification process, but this one is meant to cover the VERY basics. Often, when people came to me to buy their first home, they…
Retirement Savings 101: What’s Your Magic Number?
At first, it felt too early in the life of this site to write about retirement savings—but today, it suddenly felt like the obvious topic. Why? Because saving and building net worth makes more sense when there’s an end goal…
10 Budgeting Mistakes Costing You Money
Introduction: Is Your Budget Leaking Money? If you couldn’t tell from Budgeting 101, I strongly believe the key to building wealth starts with a budget. Unless you’re making more money than you know what to do with, you need a…
Why You Need an Emergency Fund
Once you get your budget set, start to control your spending habits and build some savings, you need to really think about an emergency fund. In the same spirit that you cannot view your 401K as regular savings, your emergency…
Avoid Market Timing Mistakes with This Simple Investing Strategy
I’ll say this many times: I’m not here to give you stock advice. I’ll share what I personally do, what I’ve done, and even the trades I’ve made—but my goal is to educate you. I want you to understand key…
Trying to Time the Market? Here’s Why That’s a Costly Mistake
There are many approaches to investing in stocks: day trading, value investing, growth investing, index investing, dividend strategies, and more. In the spirit of diversification, your portfolio might contain elements of several. But regardless of your investing style, one strategy…
Breaking Down the Mortgage Debate: 15-Year vs. 30-Year
Much of this site is about helping you save money and build long-term wealth. Along those lines, let’s talk about one of the most underrated tools for doing just that: the 15-year mortgage. When people think about buying a home,…
Rent vs Buy: Key Factors to Consider
One of the biggest financial decisions most people make is where they will live. Should you rent, or should you buy a home? Both renting and buying have advantages and disadvantages that will impact your life, lifestyle, and financial future.…
Breaking Free from the Paycheck-to-Paycheck Cycle: A Simple Guide
Introduction Living paycheck to paycheck is a stressful reality for many people. In fact, far too many people face this situation today, which is one of the reasons I started this blog. One of the main goals of this site…
