All posts filed under: money

Sourse: http://www.brokegirlsguide.com/guide/article/alexa-von-tobel

Financially Fearless

I have a recommendation for a useful, smart and long-rewarding present: a financial education book titled Financially Fearless: The LearnVest Program for Taking Control of your Money (published 31 December 2013) written by the young and inspiring Alexa von Tobel. This book makes a great Christmas present (or a gift for any occasion) that a parent can give to their child 18 – 26 years old (more financial education books to choose). But really, how many of us have our finances under complete control? According to Alexa von Tobel, 76 percent of all working Americans live from paycheck to paycheck. So basically, three out of four Americans are uncertain about their financial status, and the financial decisions they make. To live paycheck to paycheck is a “ no plan” of action and a bad choice. “You cannot be ignorant,” says Alexa. Financially Fearless: The LearnVest Program for Taking Control of Your Money is full of tasks and questions—and working through these exercises will help anyone build a solid foundation for future financial decision making skills …

close-up of human hands cutting a credit card by scissors

Lyxfällan Top 10: Problems People have with Money

“All happy families are alike; each unhappy family is unhappy in its own way.” (Leo Tolstoy, Anna Karenina)  Even though Lev Tolstoy claimed the opposite, we can find similarities in unhappiness of financially broken families—both of which share a common starting point. After analyzing 17 Seasons of the popular Swedish TV Show LyxFällan (Luxury Trap in English), I did draw some conclusions about common money spending habits, lifestyles, and attitudes towards money. If you can relate to at least three of the following economical letdowns, consider yourself warned… Here is a list of the most popular issues that landed people in LyxFällan.  No savings – The most common feature that everybody shared was having  zero savings. This included people with an income of $2000-$6000 per month. No matter how small or large your income is, save at least 10%.  No concept of expenses and loans – Knowing how to budget and control your economy is one ability that most people from LyxFällan did not have. Here you will find The Top 5 Swedish Apps that will help you …

Panthère de Cartier cuff-bracelet. Platinum, diamonds, sapphires, onyx  Vincent Wulveryck © Cartier 2009

Investing in Jewelry — is it a Myth or a Dream Come True?

While travelling in Russia, I noticed how consumers influence different industries.  Take for example the jewelry industry. It amazed me to see how many jewelry stores were in business, and the variety of international brands that were available. The ‘girly girl’ side of me was charmed, but at the same time, my rational side, influenced by a financial background, held its ground firmly. I thought to myself that there must be a way that would allow women not just to buy jewelry, but also to INVEST in jewelry. This way she can enjoy it and not feel guilty about the purchase because it’s an investment, or is it? Margo Raffaelli To work out if this idea is a possibility I met with independent jewelry consultant at one of the most glamorous galleries in Moscow situated in Red Square – GUM. We took a short tour of the Square, taking notice to the different varieties and brands. Eventually, we landed at Bosco Café.  Margo, a young and attractive businesswoman, has over 10 years’ experience in the jewelry industry. …

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How does candy relate to your future financial independence?

 (on the main photo Evelyn Rose, // photo by J. Adam Fenster)  In 1970, Stanford University Walter Mischel and Ebbe B. Ebbesen conducted an experiment that they called the “Marshmallow Test”. They gathered about 600 kids (avg. age 4.5) and basically tempted them with a marshmallow, or some form of candy or cake.  It went something like this: a child is left alone in a room having no distractions whatsoever. A marshmallow is then placed in front of him/her and the child is given two options: to eat the marshmallow straightaway or wait fifteen minutes and receive a second marshmallow as an award. So, what does it have to do with financial independence you would ask…   Guess how many of them waited?  Many of you who follow Life as an Investment either dream to achieve financial independence, or are already on their way. According to Robert Kyosaki (read about his books here), “You are wealthy as long as you can live the lifestyle you’re used to—without having to work.” Basically, Kiyosaki is trying to tell us that …

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Top 5 Swedish apps that help you save money

If you’re like me, a young professional making a decent income and living in Scandinavia, chances are you’re not as clever as you think; that is, with your finances. You’re probably hitting the nearest convenience store on your way to work and picking up a yummy latte, or heading out for lunch on occasion. In any case, you probably also consider the money left over from your salary as “savings.” The reality is that “savings” should be invested wisely and grow, grow, grow. Eating out and consuming lattes do not pay off. For instance, you would save roughly 7000 SEK per year (about 760 EUR) “if” you didn’t stop for that latte everyday. At ten percent annually, that 7000 can grow to 10,000 SEK in only five years. How many “obvious” saving methods can you accomplish? Let’s not kid ourselves, saving is hard work. Unless you’re an accountant, and love being one (who in their right mind would do this anyway? :-), you most likely hate spreadsheets. Imagine constantly hunting for a better price, or entering all your receipts onto a spreadsheet every month. Or, evaluating your budget goals every time you make a purchase. It can be time-consuming and frustrating. Investing, on the other hand, is another …

NordA: Life as an investment author

Money Spending Habits — Take the Leap and Make a Change

How many times have you eaten that LAST burger? Millions of people promise themselves a new start on Monday, but typically nothing happens and the promises continue week after week—sounds familiar? Old habits are hard to kick. Admit it—life is crazy. Having two arms is not enough to carry and operate those devices we so much rely on to get us through the day. No doubt, it depends on what we do to earn a paycheck. Personally, I write at least 20 emails and answer about 15 telephone calls per day. I cannot begin to tell you the amount of social media applications I maintain per day. If you are like me, then we need a solution…and FAST! When we are under such demanding circumstances, we get lost and find it hard to ACT AND STRATEGICALLY MAKE CHANGES WITH POSITIVE END RESULTS. It isn’t difficult remembering to call somebody back or to put together a list of things to do. Challenging is to make overall changes in your lifestyle, behavior, etc. Ok, so you made …

robert-kiyosaki

Financial Education Books

Let’s admit it—financial education studies at school suck! It doesn’t really matter which country you live in. Everywhere in the world, biology, history, and math are the main subjects in school. Such subjects as financial education and communication in society are not included in ordinary school curriculums. However, these two subjects are essential, and used in everyday life. It doesn’t matter how old are you or how much are you earn, there is always the possibility to spend money wisely. Rethink your spending behavior in order to protect yourself, your future and your family. Here are two books that I strongly recommend to everybody. It doesn’t matter if you have a financial education, or not. Rich Dad, Poor Dad by Robert T. Kiyosaki I remember the feeling I had after reading this book at the age of 18. I felt like the biggest secret of the world was all of the sudden, revealed. The book is very easy to read, the examples are easy to remember, but the idea of the book is worthless.  Stay ahead …

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Black penny, red penny… Investing in stamps!

Almost everything in this world works in cycles: solar activity, tides, fashion, and even financial crises. As far as long-term investing is concerned, the “cycle” plays a vital role when deciding when to cash out, so predicting the optimal period during the cycle is “key.” Actually, you can increase the probability of becoming a successful investor if simply: You are a disciplined investor. You are a patient investor. You can forget about the money you have invested. Everything seems to be “too” rational and practical. Where then is the inspiration and enjoyment of investing—sitting back and relying on interest rates and investment trends to be in your favor, and hoping to be wealthy in the future? Is there a way to enjoy investing? There is a way – collecting! Investing in something you can physically touch is one way to enjoy investing, knowing also its value will increase over time.  Today’s topic is STAMPS. Philately is the study of stamps, postal history, and other related collectables—a movement that appeared in 1840, just after Great Britain issued …

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How smart women invested in 2013?

In Sweden, declaration (tax returns) time has come again. Every citizen earning an income, recently received a large yellow form from a local taxation office reminding us to submit all sources of revenue, as well as expenditures. This year my income consisted of the usual source—my job and the firm that I own. However, there was a new entry included among my income sources—revenue from rising stock shares! The value of my portfolio rose 19% from last year. Smart girl! How smart women invested in 2013? “How smart women invest,” for me, was an interesting experience. Back in November of 2013, a friend of mine invited me to a seminar. It was more or less a breakfast meeting comprised of smart women, and Barbara Stewart, a researcher and portfolio manager from Canada, travelled here to Stockholm to share her financial insight and wisdom. The event was organized by NASDAQ OMX. Barbara, an elegant and charming woman, revealed to us information about what motivates smart women to invest, and how they make an investment decision. For her research, she talked to 100 …