Over the years, a lot has been written about profit and the role it plays in our lives. After all, if a business doesn’t make a profit, it eventually will go out of business and that can affect an awful lot of people including you if you happen to be an employee. Even the biggest names in the business world have seen that happen over the years, like Woolworth and Montgomery Ward, just to name two. Many others are facing the same fate right this minute. Historic names like Sears, J.C. Penney, Neiman Marcus, and PetSmart are all teetering on the edge of extinction.
But business isn’t the only entity that must be “profitable” in order to survive. Realistically speaking, individuals like you and me must be profitable too in order to function properly and have a lifestyle that makes us content and successful. So, why do we think of profit as a dirty word?
The Federal Reserve raised its key short-term interest rate this week as U.S. economic growth remains strong and unemployment is at an 18-year low. The bottom line for borrowers is this: everything from credit cards to auto loans to mortgages is about to become more expensive because of this Fed rate hike.
The Fed’s monetary policymakers added another quarter-point to the central bank’s key interest rate, putting it at 1.75% to 2%, the highest since 2008, economists said. This is the second of a now planned four interest rate increases expected for this year. The Fed last raised its benchmark rate a quarter-point in March, moving it into the range of 1.5% to 1.75%. You’re going to feel this one right away. Continue reading
Being a dad has been the biggest responsibility I have ever had. After all, bringing a new life into the world and literally trying your best to help make that person the best kind of person they can be and fulfill their life’s real potential doesn’t weigh easy on anyone.
I sometimes get a bit misty eyed when I think about my two kids and I always miss seeing them when they aren’t right here with me. I think we all feel that way because after all they are so very important to us.
So a couple of years ago, I wrote a post about my thoughts on Father’s Day and it really came from my heart. I think the message in it says what every dad (and mom too) thinks and feels about a day like this. Even though the environment we live in makes us feel like honoring our dads and moms is all about buying gifts and making a big deal out of just the one single day a year, I can tell you from personal experience, that’s not what dads (and moms) really want from their kids. Continue reading
Thanks to HoneyMoney for partnering on this post. I was compensated for providing this review, but all opinions, positive or negative, are honest and solely my own. Please note this post contains affiliate links which help to fund this blog at no cost to you. Thanks for your support!
I have been tracking my money for a really long time using that “old reliable” Quicken on my computer every single day like clockwork. It’s something that is ingrained in my brain—recording my income, expenses, etc.—and I think about it a lot. In fact, you could say I have “trackitis”, i.e. a stress-related disease that involves knowing every aspect of my financial life. Quicken has a lot of features, options, menus, and it can make you feel more like a CPA rather than being a no-stress way to gain control of your money.
That’s where HoneyMoney comes in.
HoneyMoney is a relatively new way here in the USA to simply track your income and expenses, launching in 2017. It was originally begun in Europe back in 2011. Continue reading
One of the very most important things you can do when it comes to your personal finances is to take a good hard look at how things are going right now and make some adjustments whenever necessary.
Many years ago, when I was a young man working as an assistant buyer at Macy’s, I learned about making a good plan and how to evaluate and then re-evaluate how that plan was doing. The most important part of that concept isn’t a requirement to make changes after evaluating, but rather it’s the actual necessity to take a close look. Even if you don’t make a change in a plan, looking and doing nothing is actually doing something! Not looking is doing nothing and that can hurt your financial plans.
That’s why today I want to look at where we are in 2018, so far. Continue reading
Got money on your mind? That’s not surprising, considering it affects so many aspects of our lives. It’s almost impossible not to think about money since we are bombarded every day with all kinds of talk about spending it, earning it, and well even just worrying about it, like your retirement planning or paying off your debts. Money obsession is real. There is almost no way to escape it except perhaps by pulling the blanket over your head and sleeping a little more, but even with that you do risk the potential of dreaming about it!
Of course, thinking about money can be beneficial if it does lead to actions that can improve your finances and your life. But, and it’s a big but, when it becomes a preoccupation or obsession with your finances, it can also be very harmful, and I am not just talking about its mental effects either. How can your obsession with money hurt you? It can actually hurt you physically, financially, and emotionally! Continue reading
Please note this post contains affiliate links which help to fund this blog at no cost to you. Thanks for your support!
Before you ever get your personal finances in order and start on the road to financial health and security, the place to start is to figure out your personal finance basics: the numbers! There are just so many numbers and terms out there, it’s easy to get lost trying to figure out what you really need to know. What numbers are the most important? Where do they come from and how can you change and improve them? Why is it so important to know and understand them in the first place? It’s really a numbers game of personal finances!
Personal Finance Basics: The Numbers
1. Know your Real Income (Spendable Income)
It sounds so darn simple, doesn’t it? If I asked you how much you make from your job, you probably know exactly what that number is. But your income is not your salary. Knowing your actual take-home, spendable income is the foundation for accurate budgeting. When you know how much you bring home from your job and any side hustles or passive income streams, you can then determine how much you can spend. You can also make well-informed decisions to prepare for your future. Continue reading
Saying “yes” to almost everything requested from us feels safe, avoids conflicts, and takes less time than pausing to decide whether or not that request is truly important and valuable. Too often we are just so darn busy that we don’t have the time to stop and think about much of anything and so we default to our standard answer, “yes”. That used to describe the way I was, but not today. That’s why I’m learning to say no as my default answer.
What Made Me Change My Mind?
Saying no, thoughtfully, may be the most undervalued action of our time. In our world of relentless demands and infinite options, we really need to prioritize our tasks and responsibilities so that they can add the most value to our work and personal lives. That means deciding what to do more of, less of, and what to stop doing altogether. Saying no gives you the time you need to do just that. Continue reading
(Where is Michael Anthony When You Really Need Him?)
If you’re under age 40, you know the TV show “Who Wants to be a Millionaire?”. We all like that idea. But, if you’re around my age you probably also remember the old TV show called “The Millionaire” which aired on CBS from 1955 to 1960. You can even watch old episodes on YouTube.
The Millionaire was an anthology series that explored the ways that sudden and unexpected wealth changed someone’s life, for better or for worse, and it became a five-season hit during the Golden Age of Television. Continue reading
Remembering back to when I was kid (that’s way back!), the local Chinese American restaurant might offer special “family” combinations leading to the iconic phrase “Choice of one from Column A and two from Column B” and its variables. Those restaurant menus used to have long columns of dishes (Column A, Column B, etc.) and whenever you were ordering food family style, it was a pretty cool way for each member of the family to get their own special choices. And even better, it was usually specially priced because you were getting multiple items at once for the big meal.
Column A or Column B?
One could choose one item from Column A, two items from Column B, and so forth and this method became so familiar that choices from “Column A” and “Column B” in anything (business, mathematics, whatever) often were called a “Chinese menu” in the slang of the time. The “Column A, Column B” sorta became a joke around the country back then. Continue reading