Do you want to be Rich, or do you want to be Wealthy?
I personally never thought about the difference between the two until recently, when I saw this quote from Robert Kiyosaki (author of Rich Dad, Poor Dad):
“Many people think that being rich and being wealthy are the same thing,” said rich dad.
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“Live Below Your Means”.
It’s probably the most well-known and obvious piece of personal finance advice. Spending more than you earn will lead to debt, instability, and your livelihood being dependent on a job.
Then there’s the “personal finance 180” – you slash expenses, downsize your house, get rid of your car and sell a bunch of stuff, leaving you with a lean mean new budget and lifestyle. … Read More
Apparently last week was America Saves Week. Does that mean the other 51 weeks a year are America Spends Weeks?…(ba dum dum)
Anyways, lately we talk a lot about specific numbers and what role they play. There’s the big names like Net Worth and lesser known (but equally important) Real Hourly Wage. … Read More
Remember the 5 Ws? Depending on how long ago you graduated elementary school it might have been a while, so let me refresh your memory.
Who, What, Where, When, Why
In English class the 5 Ws are introduced as questions you need to ask to successfully solve problems. … Read More
Very early in any stage of personal finance will come the topic of “Net Worth”.
What is Net Worth? It’s your assets minus your expenses. But it can get a whole lot more complicated than that.
Why Should I Know My Net Worth?
Despite being one number, your net worth can tell you a great deal about your financial health. … Read More