Yeah, I know – everyone hates those words – save money. It’s kind of like writing – I hate writing but love having written. You hate saving money but love having saved. In other words, I don’t want to go without my morning latte even though I know I can save a few bucks so don’t make me do it. I’m warning you – hands off my latte! Don’t worry – I love my morning latte too. These however are 10 fairy painless ways to save some money: Go Energy Efficient I wrote in the past about my friend Bruce, … Read More >

  Ah, the age old problem – how to get more moolah in your pocket. It’s a quandary. Sure in the long term you can invest and eventually start to make more money. But what if you need a cash injection in the short term? What if you don’t have the money to invest? What if you’re staring at your screen and screaming, “show me the money!!!!” Here are five of the easiest ways to make extra cash on the side (and don’t worry – they’re all legal. I’m not telling you to print money in your basement or pull … Read More >

I remember 10 years ago when I moved to Ohio I bought myself a used Lincoln Town Car. I loved that car – leather, heated seats, wood veneer on the dash, smooth ride. It was awesome. It also ended up costing me well over $3,000 out of pocket in the one year I owned it before moving back to New York (where I now have a whole fleet at my disposal, courtesy of the MTA – hey if it’s good enough for Mike Bloomberg, it’s good enough for me). How did this happen? I’ve got two words for you my … Read More >

  It always amazes me how silly some otherwise seemingly smart people are. I mean really, are they trying to waste money and time and spend the rest of their lives in a J.O.B. (Just Over Broke) situation? Don’t they want to find a way to get out of the rat race and be the guy putting the cheese into the maze instead of the rat trying to find the cheese? Here are five things people with low financial IQ are doing wrong and what they can do to fix them: They Don’t Make Their Money Work for Them Do … Read More >

credit cards suck

Still stuck in the trap of credit cards? Think that it’s no big deal to carry a balance on your credit card? Yeah – the credit card companies see the word sucker written a ll over your bills. Here’s the truth about credit cards, the stuff they don’t want you to know: Interest is Compounded Daily Yes, you read that right. It’s not even a secret if you take the time to actually read all that small print (go get yourself a magnifying glass if you need it – it’s important, or don’t you care about your money?). According to … Read More >

  At one point or another, you’ve heard the aphorism: “The rich get richer, while the poor get poorer.” But have you ever really stopped to think about why? If this notion holds true, it’s clear that the rich know something that those lower on the net worth totem pole don’t. But what is it? The government agency responsible for tax collection and enforcement in the US, the Internal Revenue Service, classifies income into three categories: earned income, portfolio income, and passive income. We’re all familiar with earned income. In fact, for many, it’s the only form of income we’ve … Read More >

  Yeah, making a lot of cash is great and all, but there’s a lot more to it than that.  Did you know that your credit score is pretty important not only on your finances, but your *gasp* quality of life? If you don’t, let’s set you straight, right here, right now. No doubt about it, your credit score matters.   What’s The Big Deal? The three digit number that makes up your credit score is like a mark on your forehead branding you. Banks and other institutions take one look at you and decide whether or not you are … Read More >

  So you have a piece of property. Or two. Or a gazillion, it doesn’t matter. Here you are, all excited because you’re going to cash out like mad. Even if your rental properties don’t earn you income right now, you can sell your house at a higher price, because real estate appreciates, right? RIGHT? I hate to break it to you, but it’s not always the case. While we’d like to think that real estate is a great investment, you might lose money on it.   Real Estate Prices Past, Present and Beyond No one is going to blame … Read More >

  Have you ever find yourself thinking, “if I only made $X more per year, my financial situation would be in much better shape”? Personally, that’s crossed my mind more times than I care to count and I’m sure I’m not alone. While it’s normal to allow your mind to wander into the abyss of ‘what-if’ and consider the abundance of resources that would be at your disposal if your income was substantially increased. The unfortunate truth is; that daydream rarely pans out. It reminds me of a conversation that I had a few months ago with a close friend … Read More >

Will Your Job Ever Make You Rich?

by admin on December 17, 2015

  You probably read blogs like Mr. Money Mustache that say the best way to get rich is by saving money. I believe that’s so wrong it makes me laugh. The thought that saving money is “wiser” than making more money or borrowing the “right” kind of money… wow. That’s like saying braking during a race is more important than accelerating. If you have massive brakes but a tiny engine, you’ll never win.   You Can Make Good Money but You’ll Never Become Rich Now, I enjoy the Mr. Money Mustache blog. I would even say I’m a quasi-Mustachian. But … Read More >