Tag: Financial Literacy
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Financial Illiteracy
Financial illiteracy is the opposite of financial literacy and is the root of financial struggles. Without financial education, you cannot make informed financial decisions. In the past couple of decades, government and employers have shifted responsibility of financial decisions and management to individuals, ranging from retirement plans, health insurance etc. More than ever before, the…
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Are You a Bank or ATM Machine?
In my previous post, I attempted to answer the question “Should I Borrow Money to Friends?” and I stated that there is no one right answer. Everything depends on the context. In one context, it is the right thing to do and you are actually helping. In another context, it is not the wise thing…
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How to Turn Your Finances Around
It is easy to feel trapped if your finances seem to be heading nowhere. When you are so used to being always broke a week or two after payday, living from paycheck to paycheck or hand to mouth so to speak, you may be trapped in the thinking pattern that nothing is ever going to…
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Turning Financial Setbacks into Stepping Stones
We all make financial mistakes. They are often quite painful. More often than not, we get to part with our hard-earned money. Someone we trusted collected money from us and did not deliver the goods, or delivered inferior goods. Somebody borrows and does not pay back. A business deal goes sour due to bad partners…
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Invest in Yourself II
When it comes to investing, the first thing that comes to most people’s minds is what to invest in, and what to do with their money. The best way to know what to do with your money is to first invest in yourself. Investing in yourself does not sound romantic. Most people do not see…
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You Don’t Have to Quit Your Job to Become a Millionnaire
You can attain financial freedom without having to quit your job. For most people, attaining financial freedom and quitting their jobs go hand in hand. This is because financial freedom gives you the freedom to choose, and for most employees if they really have the freedom to choose, they will choose to walk away from…
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Become Your Own Financial Expert
When it comes to investing, the most common question I get asked is: “What should I do with my money?” I have saved up so much, what should I invest in? A financial expert will be quick to give answers, answers based on getting you to patronize his financial products – stocks, investments, etc. There…
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Become an Enlightened Investor in 2011
Investing is not rocket science. Anybody can become an experienced investor if one is willing to pay the price. Whatever path you have chosen for yourself, someone has gone before you. There is more than sufficient body of knowledge in any area of business or investment you want to venture into. You want to have…
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Become Debt Free in 2011
Being in debt is not a good place to be. Psychologists maintain that debts cause anxiety, lowers performance, and induce low self-esteem. You may look rich, talk rich, walk rich but deep down inside, you know you are anything but rich. Being in debt simply means spending tomorrow’s money today. Debt mortgages your financial future…
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What is Your Risk Tolerance?
Risk tolerance is a measure of your ability to handle or embrace risk. In the world of investing, as in other areas of endeavor, the higher the risk, the higher the return. However, you have to determine what level of risk you can handle. Your risk tolerance is a factor in your age, temperament, financial…