Finance Globe

U.S. financial and economic topics from several finance writers.

3 Benefits of a Second Income Stream

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If the income from your job isn’t cutting it or you’re looking for way to get ahead financially, adding a second income stream may be a solution. A second income stream, it’s from a second job, a money-making hobby, or a side business, can benefit you in more ways than one. It’s easier to afford your living expenses. More than 50% of Americans are spending at or above their income on living expenses, reports CNN. If...
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Frank
My wife and I both have a few "side hustles", and this is the only way we can save. If we didn't, we would be living paycheck to p... Read More
Thursday, 26 October 2017 09:28
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4 Simple Ways to Become More Financially Disciplined

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If you want to be better with your money and reach your financial goals, you must learn to be financially disciplined. Being disciplined will keep you from making mistakes like overdrafting your bank account and withdrawing from your savings and retirement funds. It will also help you make better financial decisions and achieve more financial success. Some people are naturally more disciplined. For everyone else, financial discipline is a habit that can be learned. Commit to specific...
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Frank
Make sure you actually write down your specific goals and create a plan of action on how to accomplish these goals. It has always ... Read More
Thursday, 26 October 2017 09:26
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4 Reasons to Stay At Your Job, Even When You Want to Quit

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We spend a lot of our time working, so if you’re not completely satisfied with your job, it’s hard to shake the idea of quitting. But, no matter how much you want to leave your job, there are some times when it’s best to stay put – at least temporarily. You don’t have another job lined up. It could take several weeks or even months to get a new job, especially during periods of high unemployment....
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Frank
With the people I work with, I usually tell them to make sure they have 2-3 solid leads or actual offers before leaving your curre... Read More
Tuesday, 26 September 2017 19:19
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How to Avoid Dipping Into Your Emergency Fund

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It takes a lot of time, effort, and sacrifice to build a healthy emergency fund. Seeing so much money in your bank account can be tempting, especially when you’re constantly bombarded with advertisements for electronics, events, and trips. If you want to your money to be in your account when there’s actually an emergency, you have to avoid dipping into your emergency fund.  Reduce your spending to within your income.  Living within your means prevents the...
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Frank
latoyairby, how many months do you recommend to have for an emergency fund. I usually recommended at least 2 months, but in an ide... Read More
Wednesday, 26 July 2017 13:34
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8 Signs You're Doing Well Financially

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Do you ever think about your money and doubt that you’re doing well because you’re not where you want to be? Your finances might be in a better place than you think. Here are eight signs you’re doing well financially. You could survive a few months on your savings if you had to. If you lost your job today and couldn’t get another right away, do you have enough money in savings to last you two...
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Frank
These are definitely good signs! I can't say I do all of these, but alteast a few!
Sunday, 30 April 2017 20:46
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Can Forbearance Save You From Loan Default?

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Major life events can affect your finances and your ability to pay your bills. Job loss, disability, death of a family member, or relocation can create temporary hardship and make it difficult to stay on top of all your expenses. One option for affording your bills during short-term financial hardship is forbearance. Under forbearance, the lender agrees to lower or suspend your monthly payments for a specific period of time; six months or a year, for...
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Frank
I have worked with a few couples where forbearance saved them from bankruptcy. Its not a perfect solution, but it can help you for... Read More
Wednesday, 26 July 2017 13:38
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A Spending Freeze Can Help You Meet Your Financial Goals

A Spending Freeze Can Help You Meet Your Financial Goals
If you’re feeling like you’re spending more money than you should, you’re looking for a way to save money fast, or you need to stretch your money to the next paycheck, a spending freeze could be beneficial. A spending freeze is essentially a financial fast where you refrain from spending unnecessary money for a certain period of time. Dramatically cutting your spending may not sound like fun at first, but it can be worth the sacrifice...
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Wanderer
A aide you may want to consider as part of the spending freeze is a budget. Using a budget will help you identify the items you mu... Read More
Saturday, 22 April 2017 20:16
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Frugal Flips for the Not-So-Extreme Cheapskate, Part 2

Frugal Flips for the Not-So-Extreme Cheapskate, Part 2
Last month I rolled out a new series in which I will post monthly tips for saving money, which I’m calling “frugal flips.” So far, the first four I’ve proposed have the potential to save up to $1900 a year. Frugal Flip #5: Make your own soap Before you tune me out because this one sounds too complicated, hang on a moment. It’s actually super easy and will only take a few minutes of your time,...
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Recent Comments
Wanderer
Look forward to your insight on how to save money. You already put forth some new ideas (to me) not in my grab bag.
Monday, 03 April 2017 14:45
Alison
Thank you for the encouraging feedback! Good to know these little tips have been useful.
Monday, 01 May 2017 10:35
Frank
My wife makes her own soap! she loves it
Friday, 30 June 2017 15:27
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Will a biweekly payment plan really save you money on your car loan?

Will a biweekly payment plan really save you money on your car loan?
According to Experian’s latest quarterly report the average amount financed on a new car loan is $30,621. With the average loan term and interest rate at 68 months and 4.69% respectively, an average car buyer would end up paying $4308.49 in overall interest. For many of us that’s a lot of money. It’s no wonder “tens of thousands of people” sign up for so-called loan payment acceleration plans who claim to help them pay off their...
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Frank
Incredible analysis Alison, this is awesome!!!
Friday, 30 June 2017 15:27
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Steps to Determine Which Loan to Pay Off First

Steps to Determine Which Loan to Pay Off First
It doesn’t matter if you are a business owner or individual consumer, nothing changes the importance of tackling debt in the appropriate manner. If you have no debt, this never comes into play. The same holds true if you only have one loan, such as a single credit card. However, if you find yourself saddled with multiple loans, you’ll need to answer an important question: which loan should I pay off first? Believe it or not,...
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Frank
Make sure you also consider the interest rate on the loans. You usually should pay off the higher rates first.
Friday, 30 June 2017 14:57
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