Here are some articles that caught my eye this week…
Many times we try to fix our financial problems by budgeting and cutting costs. And often times that is where the problem is. But spending is only half the equation. The other side of the coin is what we make. Your income is your most important tool in building wealth. One of the keys to financial success is to always be learning and striving to find ways to make yourself more valuable in the market place. What is the last book you read, class you took, or thing you learned to improve your skills?
Guilt can be a powerful force in our lives. Sometimes it is an indicator that we are misbehaving and can be a motivator to change. But sometimes guilt is simply caused by expectations others have placed on us. Sometimes it comes from an inability to forgive ourselves. I think this is one of the beauties of doing a budget. If we have planned our spending so that we know we have the money and have made intentional decisions on how it will be spent, then we can spend that money without guilt.
While it might seem that lower interest rates are a good thing, especially if you are looking to buy a home, there is a downside. Low interest rates also mean that traditionally “safe” types of investments pay almost nothing. This creates a problem for those nearing or entering into retirement. Since your earning days may be over it is important to protect the money you have saved, but with interest rates near 0 that is hard to do. Throw in taxes and inflation and the fact that we are living longer lifespans and the choices become more difficult for those in their retirement years. The truth is the “safe” investment now almost certainly will require you to continue to invest at least some of your money in some form of mutual fund or perhaps real estate. If you don’t, inflation and taxes may well scramble your nest egg long before you reach an end for your need of the money.
Ten days isn’t such a long time. You could try almost anything for just 10 days!
Here are some simple ways you can make progress on getting that mortgage payment eliminated and having the security of knowing your home is paid for. Just make sure you don’t fall for any “scheme” where for a small fee someone will help you pay your mortgage off early. There are simple ways you can do it yourself. You never need to pay someone else for a program to pay off your mortgage early.
Some wise thoughts from master of marketing, Seth Godin.