Spend To Earn: What Is A Slush Fund? (With Examples)

Almost our whole life, we worry about how to make enough money. We wish we could make more money so that, well, we can make more of it. And when we’re too focused on earning for the future, we tend to forget why we’re earning in the first place: Freedom. Freedom to use it however you want without second thoughts. And that’s what slush funds are about. What Is A Slush Fund? Slush funds have slightly different meanings depending on …

Difference Between Lease And Loan (With Examples)

Time is money. And if you treat it as such, you can make the best use of your money. For example, you might want to get a car or a house. Or if you own a business, you may need to get a local and some equipment. And none of these purchases are cheap. How you finance these assets is generally with a job, which is a very limited income stream. And when it comes to big purchases, it may …

How to Protect Your Investments: Buying a Put Option

Should you care about buying a put option? Imagine you put $1000 on a stock. And after a few months, it doubles its price, so you get $2000 back. But things don’t usually go as planned. It can also drop by 50%, which means you lose $500. And for every dollar you lose investing, it takes twice the performance only to get back to zero. Given that all of us lose money sometimes, this problem can seriously affect your profits. …

How to Make Money Work for You

What if you learned how to make money work for you? What kind of a difference would it make? More money? Time? Freedom? When you look at rich people, it sometimes feels like they’re making millions with no effort. Meanwhile, many people work long hours to break through the $100/day mark. If you want to build wealth, you have two paths. The hard way: And because you gave all your time, you have none left to think of how to …

Recession Proof Stocks: The Outliers

What do you do in a recession? Some people think it’s safer to get out of the market. Meanwhile, others are looking to buy discounted stocks. But timing isn’t as easy as it sounds. You may buy “low” and see the stock go even lower. Or you could not buy and then watch it scale to the Moon. Whether you take the opportunity or not, it’s safe to assume nobody likes losing money. When the whole economy is at risk, …

How to Invest in Currencies?

We’re living in an uncertain economy. Not only it may be harder to earn money, but it’s also harder to keep it due to inflation. And nobody knows what your money will be worth tomorrow. One thing for sure is that after the pandemic started, people now expect anything to happen. So you can be sure there WILL be economic changes. Will they be positive or negative? When you consider your lifetime savings, you’d better not take that risk. And …

Can You Live Off Interest?

You know you’ve made it when you can live off your money’s interest. You have so much money you don’t use that others pay you to borrow it. You do nothing and earn enough to never have to work again. Not only that, but none of your future generations will ever have to work either. If you keep reinvesting in this miracle, you can take better care of those you love or increase your lifestyle. Sounds too easy to be …

Bank Statement FAQs: What They Do and How to Get One

A bank statement summarizes your financial activity in a period of time. For many, it’s an essential tool to keep on track with expenses and do personal finance. But these papers have other uses aside from accounting. This article is about how to get bank statements and what to do with them. Why Do We Use Bank Statements? A statement will show data such as deposits, withdrawals, bank information, beginning balance, or interest earned. These numbers can serve for the …

Self-employed Jobs from Home: No skills? No problem!

Traditional jobs are no longer secure. It’s time to get resourceful and stop worrying whether you’ll have a job or not tomorrow. But where do you start? You may have no education, skills, or money. This article shows you the best options for each scenario and how to find the job you want. Jobs That Require Technical/Academical Skills If you’ve spent your youth getting a degree, why not take advantage of that? You can make money without skills or licenses, …

How to Make Money on Craigslist from Nothing

With everything that’s going on in the world, nobody knows what will happen tomorrow. Upon the uncertainty, traditional jobs feel unsafe and side hustles are no longer an option. If you want to thrive in a difficult economy, you’ll need to cultivate more sources of income. For those who never made any money online, it may sound too difficult. But what if we told you there’s a site where you can make money right now? That means you don’t need …

How Long Does It Take To Establish Credit Score?

The sooner you establish your score, the sooner you can borrow money, apply for exclusive credit cards, and qualify for discounts. It’s easy to improve a good credit score just as it is to worsen a bad one. But how long does the process take? And how can you benefit from it? To get straight to the point, you don’t get any immediate benefits from improving your score. But when it comes to the future, it offers invaluable privileges. I …

Calories Per Dollar: Great Idea Or Dumb Mistake?

Does it make sense to count calories per dollar? Maybe you’re running out of money. You hope that you can save a buck here and there with a frugal diet. Or maybe you’re trying to build muscle. But you don’t want to spend $100s on chicken breasts and protein supplements. The good news is, it’s cheaper than you think. Every product has a different cost per calorie. So if you only buy high-calories-per-dollar products, you’re getting the most value from …

Side Hustles for Introverts

You want to make more money. Invest your funds, get more income streams, start a business. But every time you think about that, you feel uncomfortable. When you hear the word Entrepreneur, what do you think about? Most people think it looks like this: Of course, that’s only how non-entrepreneurs see them. That may or may not be true. But what are you going to think of when everybody sells you this reality? If you search “make money online” or …

Where to Invest 100K to Make 1M+? ✅ Fast ✅ Low Risk

How would you spend your first $100K? If you’ve ever thought about that, you’re already making the wrong question. There’s no right way to spend money because you lose it forever. Spend $1 or spend $70,000. It doesn’t matter. You can only get limited value from your purchases. That’s why the headline is “Where to invest $100K?” Where can you put these funds to make even more money? You see, the saving mentality is about making the money last as …

Why Is Compound Interest Preferable To Simple Interest?

Let’s say you have a million dollars and want to live off interest rates. Does it matter whether you choose simple or compound interest? For money reasons, you always want it to be compound. It grows faster. One is linear while the other is exponential. Say we have a generous offer, 5% of simple interest per month. For $1,000,000, that’s $50K/month. Not bad. And if you choose the compound interest, it’s generally lower. Let’s use 4% of $1,000,000. But compound …

How Many Checking Accounts Should I Have?

Technically, you can have as many checking accounts as you want. You can open multiple with the same bank, and you can always join other banks. But why would you want to do that? The purpose of a checking account is to keep money in the short term to spend it. And to do so, you want it to be easily accessible. If you add more checking accounts, it makes personal finance more complicated. It’s harder to know what account …

What To Do With Extra Money?

Have you ever thought about what to do with extra money? Neither did I. This question isn’t very different from winning millions in the lottery. What are you going to do with that money? We know one fact. If you don’t know how to spend it, you will waste it. There are too many distractions in the world, and everyone tries to convince you why their products are valuable. If you don’t know what you want, you don’t have extra …

Things To Do When You Are Broke

From time to time, you dream of reaching financial freedom. Every time you do something you don’t like, you justify it with future wealth. You say: “One day, I will have enough money to do what I love, live by my own rules!” It’s good that you believe strongly in yourself. However, months pass, and you don’t feel any closer to your goal. You know you will make it for sure in the next decade. In the next five years, …

How to Drastically Cut Expenses?

No matter how much money you make, it seems you can never make enough. You’ve tried everything, but you still can’t explain where the money goes at the end of the month. Does that sound like you? You can, of course, get out there and make more money. But if you don’t solve your saving problems first, these will increase to the level of your income. Oftentimes, people believe saving doesn’t matter because you’re not earning enough in the first …

Difference Between Job and Career

How do you differentiate between a job and a career? Both involve working for money. But it’s not about how much you make, what you do, or how long you work. The distinction may be subtle, but it makes a huge difference. Difference Between a Job and a Career According to dictionaries, a job is work you do for money, plain and simple. A career is usually a long-term position involving learning and progress. Abstract generalizations. The best way to …