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.
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How We Created $10,000 Worth of Wealth in December
A December Santa Claus Rally could have helped sweeten 2024 but Santa was drunk. Krampus showed up by New Year's Eve. Our stock performance bumped up 39% for the year though, and our net worth followed.
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The Election is Over, Setting Our $8M Wealth Goal for 2032
Finally no more election shenanigans, time to get back to building wealth again. Another added benefit of post-November, we can kiss the $12 billion election ad campaigns goodbye. It’s time for the Shen Yu ads to run through February 2025. Seriously, those election ads cost an estimated $12 billion. This is a hint for anyone who wants to pursue a political media, analyst, or strategist career. They get paid a median of $175,000 plus. That’s neither here nor there. For my household, it’s time to plan. In the shadow of election tension during Obama’s second term (2016), we realized that Investing (Not Policy) was our best bet toward financial freedom.…
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How will you invest in 2025. Could S&P 500 soar to +7,400?
Below are the newest 2025 stock market S&P 500 price forecasts, ranging from 6,400 to 7,000. This implies a return of +5% or +15% from the December 5, 2024, adjusted close of 6,075. We pulled through the cocaine bear market low (of 3,577 in October 2022). Clawed back victory on the back of 2023. Thank God, we survived the US Elections of 2024. We are now riding the irrational fumes of a Dark MAGA Bull Cycle. To make matters worse, Sports betting and Bitcoins are in vogue. Beware the finance bros with less than 0.00244 Bitcoin (BTC). They are up 40% and are over the moon for +$400 gains (pre-tax).…
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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.
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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…
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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.
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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.
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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.
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How We are Paying Down Our Debt Since 2019
It’s 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…
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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.
