Beginner Level
This is the beginner level of Personal finance.
This section encompasses financial articles for beginners who want to manage money as well as their saving and investing. The Neighborhood Finance Guy covers budgeting, life insurance, how to buy your first home, your first investments up to retirement planning, and tax and estate planning.
Personal finance depends on your income, expenses, goals, and desires. As such, it’s important to become financially literate, so you can make S.M.A.R.T.E.R decisions.
Here are some beginner-level tips: Develop or follow the Net Max Financial Plan, Run an inventory of your assets and liabilities, Start tracking your wealth (also known as Net Worth), Set a Budget you can follow, Allocate at least 15% for additional debt pay downs, at Least 20%-30%% toward savings, and the rest to your needs.
-
How a Great Budgeting Plan Can Help You Live Off of $112,000 Per Year for the Rest of your life
Most people are budgeting ineffectively. Fortunately, this Budgeting Plan Can Help You live off of $112K Per Year for the rest of your life.
-
Here are the Top Recession Investing Strategies For Beginners
Your household recession investing strategy should help you prepare for financial emergencies, engage in wealth protection, boost dividend income, and scale.
-
Here are the Top 10 Best Financial Resources that Helped Us Build Wealth
If you want to build wealth quickly and effectively, you need the best personal finance resources for the job. If you are new here, you stumbled on the best website that helps the average American live happily and wealthy. The Neighborhood Finance Guy is a powerful resource. We cover financial literacy topics, financial planning, Budgeting, Cash Management, Investing Strategies, and much more. We have over 400 blog posts and resources to prove it. Especially helpful for first-generation wealth builders. These resources scale from beginners making less than $40,000 per year to families making as much as $250,000 per year. I can tell you right now, if you part of the…
-
Why You Should Follow These Baby Steps with Extreme Caution!
Financial literacy is way more than baby steps. It's a lot of challenging adult wealth-building. You will be pushed and this will change you.
-
The 7 Highly Effective Ways to Achieve Your Goals
92% of people never achieve their goals. While that might be true for them, instead lets focus and learn from the eight percent. Back in 350 BC, Aristotle stated “Our goal in life is to achieve happiness, which comes in two varieties: the human happiness we achieve by exercising the virtues of character, and the godlike happiness we achieve when we grasp eternal truths.“ To reach this destination, the great philosopher emphasizes the importance of education and our own personal habits. Over 2,000 years later, Psychology Today agreed “Consistent habits allow us to achieve our goals.” Here are the 7 lessons to help you achieve your goals: 1. Begin with…
-
How to Prepare and Recover from Financial Setbacks
Learning from past financial setbacks is a tried and proven method to build a Better Future. An Ameriprise Financial study found that 75% of American experience at least one major financial setback in their lifetime. This often come at a cost of more than $50,000. For 42% of Americans, the first financial mistake starts at college with unnecessary expenditures, credit card debt and student loans. We sign up early and get roped into a lifestyle of debt. Prior to the pandemic, many were on track to default on their student loans. So much so that one out of every ten Americans has defaulted on a student loan. An average of…
-
From Inflation to Recession, How to Master Modern Economic Vocabulary
Inflation, Recession and high prices are dominating the news lately. After two years of government stimulus payments, eviction moratoriums and student loans in forbearance to fight the pandemic, prices are finally catching up. Instead of being swept into this moment of confusion, it is time to brush up on the basics of macroeconomics. Hope this serves as a one-stop shop for information as your personal economy continues to develop. You can also dive into the details on each topic via Investopedia.com Do you even know what the Federal Reserve System is? For simplicity, the Federal Reserve System is the most powerful financial institution in the world. Most people call it…
-
Here are the Most Common Financial Mistakes You Should Avoid
No matter if you pivoted from financial mistakes or barely avoided them, this is a great list for those who want to build wealth SMARTER and more effectively.
-
Here’s How to Boost Your FICO® Score Organically
To start, Banks and Credit card lenders use several different scoring models to calculate creditworthiness, one of which is the FICO. Since its introduction, FICO® Score became widely adopted by 90% of top lenders. While it is similar to Credit Score, FICO®’s initial goal was to improve business decisions by using data intelligently. Payment history and amount of debt are the two biggest factors in determining your FICO® Scores. As such, changes in these areas can have the highest impact. The Most Effective Way to Grow Your FICO® Score If you want to know how to grow your credit score organically, remember to these key ingredients. Your payment history accounts…
-
How Future Millionaires Invest and Build Wealth in their 20s & 30s
Like is fundamentally unfair. It’s a clear and easy understanding that we all should understand. Unfortunately, many are stuck in the fight against fairness. This is ultimately why they aren’t rich.
