12 July 2009

Debt Reduction for the Willfully Stupid

Debt reduction is not rocket science. People try to make it hard. Ultimately you’re going to have to spend less and earn more.

Despite all this simplicity people are generally too stubborn to simply accept that they’ve lived beyond their means and take the hard steps to correct the situation.

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6 February 2009

Investing Prerequisite #2: Expanded Emergency Fund

Many people will debate the details and priority of this, but quite simply there is no reason to begin investing until you have enough liquid cash to survive for a reasonable period. Unfortunately, this can mean different things to different people.

What does liquid mean?
What does reasonable mean?

You need to answer these questions as soon as possible.

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4 February 2009

Investing Prerequisite #1: How To Deal With Debt

Deciding when and how to pay off your debts is not a simple matter. While it can be comforting to be debt-free, that may not always be the most financially expedient approach-nor is it the whole picture. Here are a few steps, including analyzing and paying off debt, that really make your money work FOR you.

First you must establish a fund to allow for emergencies in your life. Then you need to adopt a strategy for getting rid of the rest of your debt. The freedom this will allow you is key in making investments. Paying off your debts is a must before proceeding.

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