Money Management
Money management refers to the processes of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.
7 Money Management Tips to Improve Your Finances.
Track your spending to improve your finances. Create a realistic monthly budget. Build up your savings—even if it takes time. Pay your bills on time every month. Cut back on recurring charges. Save up cash to afford big purchases. And, start an investment strategy.
This understanding provides you with a 360-degree view of your financial picture. The goal is to apply key financial disciplines to help you overcome the obstacles to wealth.
With a clear purpose for your money and sound management principles behind it, you are in much more control of your financial destiny.
-
The Best Quotes from the Vanguard Founder, John C. Bogle
John Bogle revolutionized the investing world—becoming the king of the "Index-and-Chill" movement with the creation of the Vanguard ETF. A powerful way to invest for your future.
-
How to Create $7k in Passive Income Quarterly – Q3 2024 Recap
Tracking TNFG’s QTR 3 2024 Passive Income Progress The third quarter numbers are in, a run-of-the-mill $7k month. The glory days of $20,000 quarters from 2020 are long gone. Relatively, I’m grateful for our +$6,000 average. My goal is to bring that up to an average of $10,000 monthly by 2027. Unfortunately, prices are up on our business expenses, and dividend yields are down. In positive news, Federal interest rates are easing to 2 percent. Times are harder. Reflected in the election results, the average American household lives check to check. As the new federal administration takes shape, the future is 50/50. There are fears that tariffs will drive up…
-
Here are the Latest 401k, IRA, HSA, and Other Contribution Limits for 2025
One of the best ways to become an automatic millionaire in your lifetime. Don't skip on the contributions. And pay attention to the SECURE Act 2.0 changes.
-
Stock Market to Perform better after the Fed Rate Cuts?
Since 2019, the stock market has performed exceptionally, with a 95% gain or an average of 19% annually by 2024. Despite prior downturns, economists predict a new bull supercycle, offering investment opportunities. Staying aware of market trends and adopting a smart investment strategy is crucial for wealth growth amidst economic volatility.
-
Why Financial Freedom Should Be On Your Wealth Bucket List
Achieving financial freedom necessitates a Wealth Bucket List to prepare for retirement. The author emphasizes accountability, budgeting, and discipline as paths to personal finance success. Planning for retirement includes significant financial goals, a commitment to lifelong learning, and a passion for travel and service. The aim is to create a purposeful, fulfilling life post-retirement.
-
How We are Paying Down Our Debt Since 2019
Time to pay down the debt that we picked up. As always we are tracking this via an Excel sheet with validation from the Empower app. The app is FREE. It used to be known as Personal Capital. When it comes to wealth-building, half of the equation requires that you pick up assets. The other half requires that you pay off liabilities. Every month, we track our net worth. This includes two mortgages, one auto loan, and credit card debt. We also track your investments via the link, if you click on the photo below. For me, it’s therapeutic and helps keep my mind sharper. Most people run away from…
-
Our Net Worth Performance Was Great Until Bloody September!
The post outlines a tumultuous financial year marked by inflation, depleted savings, and high expenses. Despite challenges, there were job transitions and a move to Florida with relocation costs. It discusses the importance of financial strategies like dollar-cost-averaging, reduced monthly expenses, increased investments, and emergency funds. The net worth rebounded in September, emphasizing resilience and long-term goals, including home renovations and a new savings plan. Financial literacy and adapting to changes are key themes for achieving stability and growth.
-
2024 Economic State of Hispanic Americans and its Long-Term Effects on Latino Wealth
Hispanic Americans have experienced notable financial growth over the past decades, with median wealth increasing from $10,000 in 1989 to $62,000 in 2022. This positive trend includes significant gains in equities and real estate post-pandemic. Despite challenges like high student debt and uneven homeownership rates, projections suggest Hispanic household wealth might become the second highest by 2050. Nonetheless, economic disparities remain, highlighting the need for strategic financial planning and education.
-
Where’s Your Money Going? How to Track Your Expenses.
According to a 2024 Debt.com survey, nearly 94 percent of households noted that they have a budget. And yet, Americans are struggling with their expenses. With higher-than-average inflation, low wages, and high revolving consumer debt, it’s time to modify your behavior. Tracking and managing your expenses is the difference between barely making it and becoming wealthy. As you may know, the TNFG household reviews our expenses monthly or as often as needed. It’s a great opportunity to make cash flow changes instead of unexpected changes. Life happens. I repeat Negative Financial challenges will happen just as often as Positive ones. Know that they are coming and learn to adapt and…
-
How Much Money Can You Make Investing in the S&P 500 through 2030
The TNFG S&P 500 year-end predictions anticipate inflation, AI-related market shifts, and retirement crises causing increased volatility. Despite potential bear markets and economic uncertainties, experts predict growth for the S&P 500, potentially reaching 10,000 by 2030. Investors are encouraged to leverage market dips and remain agile, projecting substantial long-term gains.
