The Key to Going from Side Hustle to Small Business (Hint: Your Money)

Ever dream of quitting your day job? For many, quitting the "rat race" and owning a business is the ultimate dream. Setting your own hours, and watching the money roll in seems like the ideal lifestyle. Unfortunately, for most of us, it isn't so easy. Most of us can't just quit a day job and turn a hobby into a money-maker. There are commitments to meet, and financial considerations to account for. Before you quit your job, it's a good idea to plan … [Read more...]

Create Your Very Own Money-Making Small Business from a Hobby

What do you like to do in your spare time? Do you have a hobby? If so, chances are that your hobby costs money, rather than bringing money in. But it doesn't have to be that way. If you have a hobby, and a little creativity, you might be surprised at the way you can earn money from something you do for fun. Many just look for ways that a hobby can pay for itself. A little extra income can go a long way in justifying your hobby to yourself and your financial … [Read more...]

Why I Like “Spending Plan” Better than “Budget”

I really hate the word "budget." Of course, like so many things in life, my aversion to the word budget has more to do with my own personal baggage, then any real problem with the word itself. In the case of the word budget, my personal finance baggage is quite heavy. When I'm talking about how I manage my money, I prefer to use the phrase "spending plan." It seems, I think, to convey a better sense of control and purpose. I know that a spending plan is, … [Read more...]

How to Change Your Bad Money Habits

Do you have any bad money habits? All of us probably have habits we wish we could change. This likely includes money habits! If you are looking at your money habits, and realizing that you could be doing something differently, now is the time to do something about it. You can change your bad money habits, and replace them with better habits that will eventually lead to financial freedom. 1. Acknowledge Your Problem Areas and Take Responsibility The first … [Read more...]

How to Overcome Frugal Fatigue

Tired as heck from saving too much? One of the issues that has arisen with the recent economic troubles (and is likely to rise again with concerns about the U.S. deficit and the recent S&P credit rating downgrade) is that of frugal fatigue. Many people began living more frugally after the 2008 global financial crisis, and continue making efforts to live frugally in the face of further economic uncertainty. However, after a while it can become wearing to save … [Read more...]

Should You Walk Away from Your Mortgage?

Even though the recession has been "officially" over for quite some time, many people are still feeling the pinch. Indeed, many homeowners are starting to feel worried about what's next. With home values still low, many are underwater on their homes -- and worried about how long it will take to move from negative equity to positive equity. Others not only have negative equity, but are also having trouble making payments. With tough choices ahead, the prospect of … [Read more...]

The Secret to Understanding Your Personal Money Style

What's your style? One of the best things you can do for yourself is to understand yourself.  This advice is often given to those preparing to embark on a personal relationship with someone else. However, this advice also applies to the way you deal with money. Your relationship with money needs to be divined by who you are, and that means that you need to understand your personal money style. Beyond Saver vs. Spender In many cases, we tend to label others - and … [Read more...]

Downsize Your Lifestyle for a Lighter Future

Could you use to downsize your stuff? It occurred to me last Christmas, as my husband asked me what I wanted, that I had too much stuff. I couldn't really think of anything that I really wanted -- much less actually needed. And, as I looked around at a house full of things, I began fantasizing about getting rid of some of our stuff. The fact that my family might have to move has me even more interested in downsizing, since I don't want to take it all with … [Read more...]

My Favorite Personal Finance & Business Books

There is no doubt that the best personal finance books can make a great resource. What you read about finances can change the way you think about -- and interact with -- money. Everyone has their favorite personal finance books, but I'd like to share my favorite 10 with you: The Millionaire Fastlane - This book, by MJ DeMarco offers some straight talk about getting rich. I really enjoyed how he points out that working away slowly at a traditional job is not the way to … [Read more...]

Find the Perfect Mix of College Funding Options

Can you afford this? When it comes to college, chances are that you will need to look for some sort of funding. Whether you expect your children to pay for their own college costs, or whether you plan to help them, understanding the options is important. Because college has become so expensive, it is a good idea to plan for college as soon as possible. Don't rely on any one college funding source; cultivate multiple options for college, including: Tax … [Read more...]

Are Your Investment Earnings Being Undermined?

Are avoidable expenses affecting your earnings? When you invest, it's important to make sure that you are doing your best to maximize your earnings. Many of us think only of whether or not the investment account is doing well. However, there are some other things to pay attention to. Here are a few things that might undermine your investment earnings: Fees You might be surprised at how fees can erode your investment earnings. Any investment is going to come with … [Read more...]

The Best Things to Spend Money On: Spending that Reflects Your Values

Are you spending on the things that you value? Often, we think about spending in terms of whether or not we are getting a "good deal," or whether we are going to use the item we are buying. Sometimes we forget that we will feel better about different spending decisions we make based on our values. Take a few minutes to consider your values, and whether or not your spending is in line with what's important to you. What Do You Value? Honestly evaluate what you … [Read more...]