A Key to Managing Your Finances: Personal Finance Books

photo

 

If your finances are out of control, you are going to be living in constant stress. You worry about whether or not you’ll be able to make ends meet. You worry about all the things you can’t afford. You live paycheck to paycheck or even run out of money in between paychecks. It’s not a good way to live. But if you don’t have the skills or knowledge to manage your finances, it can seem like an impossible beast to tame. That’s where books come in. Personal finances books are the key to managing your finances. Learn more about what they have to offer below.

Understand the real causes of your financial problems

In many cases, we keep finding ourselves stuck in the same endless cycle of financial trouble simply because we don’t really know what’s causing it. Unless you work in finance, you probably aren’t an expert. Without the expertise, it’s easy to overlook certain things or agree to terms without really understanding what you are agreeing to.

There are many great personal finance books out there that can help you figure out the real reasons you are in debt or struggling to stay afloat. For example, many people attempt to use credit cards to build credit but, in the process, end up damaging their credit score even more.

This is usually because they don’t have the tools or skills to properly use credit cards for that purpose. With a personal finance book, you can learn the actual method involved so that you are safely using credit cards to build credit without getting out of control. If credit isn’t your problem, you can still use personal finance books to dig into the real causes of whatever issue you are having.

Learn how to adopt better money habits

Most of us don’t ever get a real education in smart money habits. Unless we are lucky enough to have parents who know all the tricks, we are pretty much left to our own resources. That means that we must learn by trial and error. We are just figuring things out as we go along.

Imagine if you had a road map that just told you exactly what the best path to take was every step of the way? You could avoid making so many mistakes and save yourself so much money. Well, that’s exactly what a personal finance book can do. You can get advice on every issue and every circumstance that almost everyone will face at some point in their life.

Using a personal finance book, you can learn how to avoid bad money habits and replace them with better ones that will actually help you achieve your financial goals.

Get advice from real experts

This is one of the greatest benefits of reading personal finance books. They are written by people who are experts on their topics. To make it even better, they spend months or even years researching the topics for their books. So, you are getting some of the most well-researched and knowledgeable advice available.

You do need to make sure you find reliable sources, however. There are people who publish low quality books that are disguised as expert work. So, make sure to find recommendations from reliable sites and people that you trust. Then, get two or three of the top finance books to read to start with.

From there, you will start to get familiar with the leading names in the field. That will make it easier to find additional books that are equally useful and trustworthy.

Get the tools you need to actually use financial advice

This is an important one that is often overlooked. While you can generally find some great financial advice online, it doesn’t always come with practical tips for how to apply it to your own situation. For example, you might read the sage wisdom to avoid using your credit card to buy things you can’t afford. But what if you are trapped in a cycle of needing to use your credit card to cover the essentials you can’t afford on your actual monthly income?

A book can provide you with more concrete and practical advice that will help you actually apply this kind of wisdom to your life. For example, you can get real strategies for saving more money by starting with something small and manageable like the 52-week savings challenge. With the right tools, you can actually make the goals you have a reality. A book will help you map out the process step-by-step no matter where you are starting from.

Get specific advice about the issues most important to you

Books tend to go very in depth on specific topics. This is better than getting a lot of generalized information on a lot of different topics. For most of us, our financial struggles are focused on just a small set of specific issues. We aren’t completely clueless about everything. So, there’s no point wasting your time on introductory level knowledge about topics you already know.

With a book, you can get highly specialized knowledge on exactly the things that concern you. For example, if you’re a newlywed or even just starting to get serious with your partner, you might be stressing out about how to bring up the topic. Fortunately, you can find great advice on talking about finances with your partner.

There are a wide variety of personal finance books out there. Each one has been researched and written by experts on highly specialized topics. There’s a book out there whether you’re a newlywed trying to figure out how to cooperate with someone on personal finances or a college student who needs to make their very first grown up budget. All you need to do is decide which topics are most important to you and then find a book about it. So, what are you waiting for? Find your personal finance book and start taking control today!

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles atFinanceBlogZone.com and follow him for more updates and information on Facebook and Twitter.

Entering the World of Online Trading

stock-market-dividends

If you have been looking for a way to get involved in the world of investing for quite some time now, online trading just might be for you. Many people want to be in more control of their own money, and that is not always possible with a broker. With online trading, one can really become the master of their own destiny. At the same time, caution must be exercised in order to maximize returns and minimize risk. That should be the goal of any online trader. Let us look at some reasons why.

Caution in the Wind

There are many times in life where risk can provide a thrilling adventure. While some types of risk can be managed, others cannot. You cannot always control, for example, what the wind will do when you jump out of an airplane. Likewise, you cannot truly know what a particular type of investment will do once you have sunk your money into it. This is why online trading does need to be approached with some caution. As Online Trading Academy Reviews will tell you, this is a primary function of learning to invest. You must determine how much risk you are willing to take on, and then learn which investments will keep you within your comfort zone. That does take some practice, so make sure you take advantage of the tools and resources available that will help you in this regard.

Take Time to Gain Knowledge

Before you make the plunge into online trading, you will want to take some time to gain as much knowledge as you can. While all investors should be aware of what they are doing when buying a particular fund, it is critically important for an online trader to do so. There are certain indicators that you need to look out for, and you will not always have the benefit of a broker to guide you. In fact, you are probably entering this genre in order to control your own money, so it is even more important that you go back to school – so to speak. Look at the Online Trading Academy Reviews to discover why it is so valuable to attend as much training as you can at the outset. This task does not end once you begin training either. You will want to constantly brush up on your skills and keep up with emerging trends in the field.

Use Technology To Your Advantage

With emerging technology available today, the investment world is truly at your fingertips. You have access to a wealth of real time information on a real time basis. As such, you need to put this technology to work for you. Learn about it and implement it within your own online trading activities as they are applicable to you. This will help you in your quest to gain as much profit as possible, while minimizing your losses and any errors that you might otherwise make.

Online trading is a great way to enter the investing world. You just want to make sure that you know what you are getting into from the outset. Take some time to organize your activities and ensure that you have the proper investment education before getting started. If you do that, you will be well positioned for success.

Would You Like To Blog For Plunged In Debt?

IMAG0053

If you’ve been following Plunged In Debt, you know that we like to encourage our readers to also contribute to our blog. The PID team is excited to announce that we are looking for a new volunteer blogger(s) to regularly write for the site.

If you think you may be interested in writing, we are looking for someone who will be able to write one or two posts each week. Researching and writing for blogs can take a good bit of effort so you will want to make sure that you will be able to devote time to it. Here are a few other things we are looking for in a blogger:

  1. You don’t need blogging experience. We would love for your to share you personal finance tricks, hacks, debt stories! However, you will need to provide at least one sample of your writing for our review.
  2. Be willing to interview and be interviewed. Sometimes blogging includes chatting with people and both asking and answering questions. You’ll have to be ready to do so.
  3. You also need to be willing to interact with readers. If our readers are commenting on your post, we’d like for you to respond to them and create a dialogue.
  4. We aren’t looking for a personal finance expert but some background in personal finance, a great debt payoff story or even frugality tips is a plus. We want you to be interested in what you are writing about!
  5. This is a volunteer position. While there is no direct compensation made for each post, there are some opportunities for bonuses, especially if a post is performing extremely well (getting traction). We want someone who is looking to write because they want to help others, whether it be helping them learn to save or, for example, providing tips on how to make your own laundry detergent.

Those who are interested in writing for PID should email James, at james@districtmediafinance.com. He will get back to you with more information and chat about a writing sample. If you have any questions feel free to leave it in the comments below or call James at 202.468.6043.

Three Simple Ways to Hack The 52 Week Money Challenge

simple ways to hack the 52 week money challenge

The 52 week money challenge is a simple and powerful way to not only start building up a nice little nest egg but, more importantly, transform your financial habits. With this simple challenge, you start becoming a person who spends with purpose instead of just buying this and that without much thought. But, what looks like a simple challenge is actually still challenging for anyone who is not used to being so aware of their money.

Simply put, the 52 week money challenge is a way to challenge your self to save money.  It works using a snowball approach. You start on week one by saving $1, then on the second week, you save $2. On the third week, you get $3.  By the end of the year you should have a total savings of $1,378.  Here is a nice visual.


52 week money challenge
So here are 3 hacks to make sure you stay on track for the full 52 weeks.

#1 Start Right Now
Take that literally. Take a break from this article, go log in to your bank account and transfer $1 from your checking account to your saving account.

Done? Good. You have now successfully completed the first week of your challenge! That wasn’t so bad was it?

On week 2, you’ll deposit $2 into your account. And you’ll keep up this pattern, adding $1 to the total each week (so in week 52, you will deposit $52). The great thing about this is that it literally doesn’t matter which week you start in or what day of that week you start. It could be 2am on Friday night in the middle of August. That’s fine. Start now. By this day next year, you’ll have saved more than $1,000!

#2 Decide How to Spend It
While working toward your goal, one of the best ways to stay motivated is to dream about and envision that goal. In 52 weeks, you are going to have $1,378 that you wouldn’t have had if you didn’t do this.

What do you want to do with that? You can take a trip somewhere, go on a shopping spree, pay off some debt, keep it as an emergency fund, or anything else that comes to mind. You don’t have to pick just one thing, either. You could choose, for example, to go on a shopping spree with half the money and hold on to the rest to continue building your savings. The important thing is that you visualize what you are going to do so that you can enjoy the rewarding feeling of moving one step closer to that vision each week.

#3 Plan Ahead
One of the simple ways to hack the 52 week money challenge that you can apply in a couple different ways. First of all, plan ahead by scheduling a weekly appointment to make the transfer. Do it at the same time each week to really ensure that it becomes a habit.

The other way that you can plan ahead is by deciding in advance where the savings will come from. For example, in the first week, where will that dollar come from? This will be easy. You can just skip buying a pack of gum or buy a generic brand food that is $1 less than your name brand. Each week, take a look at your normal spending habits and find something you can cut or change in order to reach your weekly goal. By week 52, you’ll need to find a way to cut $52 from your budget for the week. So each week, you will have to work a little bit harder to get the money. But this helps you to gradually build up the willpower to avoid splurges and wasteful spending!

Final Word
By the end of this challenge, you will have saved $1,378! And you did it all with just a few dollars at a time. By using these simple ways to hack the 52 week money challenge, you are not only accomplishing the 52 week challenge flawlessly but ensuring that these 52 weeks turn you into a more conscious and smart spender! Finally, if you’re interested in more on the 52 week savings challenge, consider checking out Saving Advice’s article on the subject.

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles at FinanceBlogZone.com and follow him for more updates and information on Facebook and Twitter.

Image URL:  Pixabay

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A Key to Managing Your Finances: Personal Finance Books

photo

 

If your finances are out of control, you are going to be living in constant stress. You worry about whether or not you’ll be able to make ends meet. You worry about all the things you can’t afford. You live paycheck to paycheck or even run out of money in between paychecks. It’s not a good way to live. But if you don’t have the skills or knowledge to manage your finances, it can seem like an impossible beast to tame. That’s where books come in. Personal finances books are the key to managing your finances. Learn more about what they have to offer below.

Understand the real causes of your financial problems

In many cases, we keep finding ourselves stuck in the same endless cycle of financial trouble simply because we don’t really know what’s causing it. Unless you work in finance, you probably aren’t an expert. Without the expertise, it’s easy to overlook certain things or agree to terms without really understanding what you are agreeing to.

There are many great personal finance books out there that can help you figure out the real reasons you are in debt or struggling to stay afloat. For example, many people attempt to use credit cards to build credit but, in the process, end up damaging their credit score even more.

This is usually because they don’t have the tools or skills to properly use credit cards for that purpose. With a personal finance book, you can learn the actual method involved so that you are safely using credit cards to build credit without getting out of control. If credit isn’t your problem, you can still use personal finance books to dig into the real causes of whatever issue you are having.

Learn how to adopt better money habits

Most of us don’t ever get a real education in smart money habits. Unless we are lucky enough to have parents who know all the tricks, we are pretty much left to our own resources. That means that we must learn by trial and error. We are just figuring things out as we go along.

Imagine if you had a road map that just told you exactly what the best path to take was every step of the way? You could avoid making so many mistakes and save yourself so much money. Well, that’s exactly what a personal finance book can do. You can get advice on every issue and every circumstance that almost everyone will face at some point in their life.

Using a personal finance book, you can learn how to avoid bad money habits and replace them with better ones that will actually help you achieve your financial goals.

Get advice from real experts

This is one of the greatest benefits of reading personal finance books. They are written by people who are experts on their topics. To make it even better, they spend months or even years researching the topics for their books. So, you are getting some of the most well-researched and knowledgeable advice available.

You do need to make sure you find reliable sources, however. There are people who publish low quality books that are disguised as expert work. So, make sure to find recommendations from reliable sites and people that you trust. Then, get two or three of the top finance books to read to start with.

From there, you will start to get familiar with the leading names in the field. That will make it easier to find additional books that are equally useful and trustworthy.

Get the tools you need to actually use financial advice

This is an important one that is often overlooked. While you can generally find some great financial advice online, it doesn’t always come with practical tips for how to apply it to your own situation. For example, you might read the sage wisdom to avoid using your credit card to buy things you can’t afford. But what if you are trapped in a cycle of needing to use your credit card to cover the essentials you can’t afford on your actual monthly income?

A book can provide you with more concrete and practical advice that will help you actually apply this kind of wisdom to your life. For example, you can get real strategies for saving more money by starting with something small and manageable like the 52-week savings challenge. With the right tools, you can actually make the goals you have a reality. A book will help you map out the process step-by-step no matter where you are starting from.

Get specific advice about the issues most important to you

Books tend to go very in depth on specific topics. This is better than getting a lot of generalized information on a lot of different topics. For most of us, our financial struggles are focused on just a small set of specific issues. We aren’t completely clueless about everything. So, there’s no point wasting your time on introductory level knowledge about topics you already know.

With a book, you can get highly specialized knowledge on exactly the things that concern you. For example, if you’re a newlywed or even just starting to get serious with your partner, you might be stressing out about how to bring up the topic. Fortunately, you can find great advice on talking about finances with your partner.

There are a wide variety of personal finance books out there. Each one has been researched and written by experts on highly specialized topics. There’s a book out there whether you’re a newlywed trying to figure out how to cooperate with someone on personal finances or a college student who needs to make their very first grown up budget. All you need to do is decide which topics are most important to you and then find a book about it. So, what are you waiting for? Find your personal finance book and start taking control today!

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles atFinanceBlogZone.com and follow him for more updates and information on Facebook and Twitter.

Entering the World of Online Trading

stock-market-dividends

If you have been looking for a way to get involved in the world of investing for quite some time now, online trading just might be for you. Many people want to be in more control of their own money, and that is not always possible with a broker. With online trading, one can really become the master of their own destiny. At the same time, caution must be exercised in order to maximize returns and minimize risk. That should be the goal of any online trader. Let us look at some reasons why.

Caution in the Wind

There are many times in life where risk can provide a thrilling adventure. While some types of risk can be managed, others cannot. You cannot always control, for example, what the wind will do when you jump out of an airplane. Likewise, you cannot truly know what a particular type of investment will do once you have sunk your money into it. This is why online trading does need to be approached with some caution. As Online Trading Academy Reviews will tell you, this is a primary function of learning to invest. You must determine how much risk you are willing to take on, and then learn which investments will keep you within your comfort zone. That does take some practice, so make sure you take advantage of the tools and resources available that will help you in this regard.

Take Time to Gain Knowledge

Before you make the plunge into online trading, you will want to take some time to gain as much knowledge as you can. While all investors should be aware of what they are doing when buying a particular fund, it is critically important for an online trader to do so. There are certain indicators that you need to look out for, and you will not always have the benefit of a broker to guide you. In fact, you are probably entering this genre in order to control your own money, so it is even more important that you go back to school – so to speak. Look at the Online Trading Academy Reviews to discover why it is so valuable to attend as much training as you can at the outset. This task does not end once you begin training either. You will want to constantly brush up on your skills and keep up with emerging trends in the field.

Use Technology To Your Advantage

With emerging technology available today, the investment world is truly at your fingertips. You have access to a wealth of real time information on a real time basis. As such, you need to put this technology to work for you. Learn about it and implement it within your own online trading activities as they are applicable to you. This will help you in your quest to gain as much profit as possible, while minimizing your losses and any errors that you might otherwise make.

Online trading is a great way to enter the investing world. You just want to make sure that you know what you are getting into from the outset. Take some time to organize your activities and ensure that you have the proper investment education before getting started. If you do that, you will be well positioned for success.

Would You Like To Blog For Plunged In Debt?

IMAG0053

If you’ve been following Plunged In Debt, you know that we like to encourage our readers to also contribute to our blog. The PID team is excited to announce that we are looking for a new volunteer blogger(s) to regularly write for the site.

If you think you may be interested in writing, we are looking for someone who will be able to write one or two posts each week. Researching and writing for blogs can take a good bit of effort so you will want to make sure that you will be able to devote time to it. Here are a few other things we are looking for in a blogger:

  1. You don’t need blogging experience. We would love for your to share you personal finance tricks, hacks, debt stories! However, you will need to provide at least one sample of your writing for our review.
  2. Be willing to interview and be interviewed. Sometimes blogging includes chatting with people and both asking and answering questions. You’ll have to be ready to do so.
  3. You also need to be willing to interact with readers. If our readers are commenting on your post, we’d like for you to respond to them and create a dialogue.
  4. We aren’t looking for a personal finance expert but some background in personal finance, a great debt payoff story or even frugality tips is a plus. We want you to be interested in what you are writing about!
  5. This is a volunteer position. While there is no direct compensation made for each post, there are some opportunities for bonuses, especially if a post is performing extremely well (getting traction). We want someone who is looking to write because they want to help others, whether it be helping them learn to save or, for example, providing tips on how to make your own laundry detergent.

Those who are interested in writing for PID should email James, at james@districtmediafinance.com. He will get back to you with more information and chat about a writing sample. If you have any questions feel free to leave it in the comments below or call James at 202.468.6043.

Three Simple Ways to Hack The 52 Week Money Challenge

simple ways to hack the 52 week money challenge

The 52 week money challenge is a simple and powerful way to not only start building up a nice little nest egg but, more importantly, transform your financial habits. With this simple challenge, you start becoming a person who spends with purpose instead of just buying this and that without much thought. But, what looks like a simple challenge is actually still challenging for anyone who is not used to being so aware of their money.

Simply put, the 52 week money challenge is a way to challenge your self to save money.  It works using a snowball approach. You start on week one by saving $1, then on the second week, you save $2. On the third week, you get $3.  By the end of the year you should have a total savings of $1,378.  Here is a nice visual.


52 week money challenge
So here are 3 hacks to make sure you stay on track for the full 52 weeks.

#1 Start Right Now
Take that literally. Take a break from this article, go log in to your bank account and transfer $1 from your checking account to your saving account.

Done? Good. You have now successfully completed the first week of your challenge! That wasn’t so bad was it?

On week 2, you’ll deposit $2 into your account. And you’ll keep up this pattern, adding $1 to the total each week (so in week 52, you will deposit $52). The great thing about this is that it literally doesn’t matter which week you start in or what day of that week you start. It could be 2am on Friday night in the middle of August. That’s fine. Start now. By this day next year, you’ll have saved more than $1,000!

#2 Decide How to Spend It
While working toward your goal, one of the best ways to stay motivated is to dream about and envision that goal. In 52 weeks, you are going to have $1,378 that you wouldn’t have had if you didn’t do this.

What do you want to do with that? You can take a trip somewhere, go on a shopping spree, pay off some debt, keep it as an emergency fund, or anything else that comes to mind. You don’t have to pick just one thing, either. You could choose, for example, to go on a shopping spree with half the money and hold on to the rest to continue building your savings. The important thing is that you visualize what you are going to do so that you can enjoy the rewarding feeling of moving one step closer to that vision each week.

#3 Plan Ahead
One of the simple ways to hack the 52 week money challenge that you can apply in a couple different ways. First of all, plan ahead by scheduling a weekly appointment to make the transfer. Do it at the same time each week to really ensure that it becomes a habit.

The other way that you can plan ahead is by deciding in advance where the savings will come from. For example, in the first week, where will that dollar come from? This will be easy. You can just skip buying a pack of gum or buy a generic brand food that is $1 less than your name brand. Each week, take a look at your normal spending habits and find something you can cut or change in order to reach your weekly goal. By week 52, you’ll need to find a way to cut $52 from your budget for the week. So each week, you will have to work a little bit harder to get the money. But this helps you to gradually build up the willpower to avoid splurges and wasteful spending!

Final Word
By the end of this challenge, you will have saved $1,378! And you did it all with just a few dollars at a time. By using these simple ways to hack the 52 week money challenge, you are not only accomplishing the 52 week challenge flawlessly but ensuring that these 52 weeks turn you into a more conscious and smart spender! Finally, if you’re interested in more on the 52 week savings challenge, consider checking out Saving Advice’s article on the subject.

Kostas Chiotis blogs about the most important issues relating to economics. You can read his articles at FinanceBlogZone.com and follow him for more updates and information on Facebook and Twitter.

Image URL:  Pixabay