Rich Dad, Poor Dad made me think differently. There is good debt and bad debt. Bad debt is debt that holds you back: credit card, student loan, car loan. Most people only ever learn about and use bad debt. Make it your mission to get out of bad debt and never look back. Good debt … Continue reading Harness Money Tip #34
Calculate and track your net worth. I initially thought my net worth was just my checking and investment accounts. But it includes so much more. Everything you own is a part of your net worth. Write down everything from your house, car, clothes, saxophone, furniture. I was astonished about how much stuff was included in … Continue reading Harness Money Tip #32
Simplicity is often better than complexity when investing.
Emergencies happen. Prepare for financial disasters today.
Talk with other people about your money situation. Wether you are in debt or saving for retirement there are other people in the exact same situation as you. Talking about your financial position can make you not feel alone and give you motivation to continue pursuing your goals. Sometimes the best encouragement for yourself is … Continue reading Harness Money Tip #27
Get concrete. We often say that we want great things to happen for us, but then we wait for them to actually happen to us. You have to go after your goals and make them happen. Create a plan and print it out and look at it everyday. Creating a plan makes life goals real … Continue reading Harness Money Tip #21
What did your parents teach you about money? Everyone should examine what lessons they were taught about money growing up. My parents taught me to work hard and save money. But I never learned how to grow money money. My dad never invested anything in the stock market and my mother only talked about the … Continue reading Harness Money Tip #20
Your money should always be working for you. Growing The worst thing you could do is stuff money under your mattress. Because money loses value over time due to inflation. Your money should always be growing. Interest from a bank is growth. Buying an assets that provides income is growth. Investing in stocks that appreciate … Continue reading Harness Money Tip #18
Divorce your self worth from your net worth. Everyone is on their own life path. You may have a lot or just a little. The point is to be a good steward of what you do have. Make smart decisions consistently and focus on growth. How can you continue to grow? For more tips like … Continue reading Harness Money Tip #13
Buy everything on sale. Your house, car, clothes, airfare electronics. You can find almost anything on a discount. New stuff loses its value quickly and retailers charge a premium for things being brand new. If you are buying a house, definitely buy a cheaper home and fix it up before you move in. You have … Continue reading Harness Money Tip #11