Blog

INCOME TAX Feb 06, 2019

Definition

Income tax is a tax that the government imposes on both individuals and businesses.  These funds go to support our government infrastructure. 

Why It's Important

Because it's tax season, I thought it would be appropriate to discuss income taxes.  You probably get them taken...

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NET WORTH investing wednesday word of the week Jan 30, 2019


Net worth is calculated by subtracting your liabilities from your assets.  If your liabilities are more than your assets, you have a negative net worth.  If your assets are more than your liabilities, you have a positive net worth.

Why It's Important

We have finally reached the last piece...

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LIABILITIES investing wednesday word of the week Jan 16, 2019

Definition

Liabilities are anything that you owe (debt). They can be divided into Current and Non Current Liabilities, depending on how soon you have to return that debt.

Why It's Important

It is important to know what liabilities are on your personal balance sheet because it allows you to make sure...

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5 RIDE SHARING STRATEGIES I USED TO EARN MONEY Jan 16, 2019

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I am always trying to find ways to pay off my debt faster!  One of my favorite ways is to participate in the gig economy, particularly ride sharing (driving for Uber & Lyft).  Now, I try to drive every other weekend when I don't have my kids.  Last year, I made about $2,500...

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5 C'S OF CREDIT investing wednesday word of the week Jan 09, 2019

Definition

The 5 C's of Credit is a system that lendors use to determine your creditworthiness.  
The 5 C's are:

Character
Capacity
Capital
Collateral
Conditions


Why It's Important

Having all of your "C's" in great shape increase your chances of getting loans and/or better interest rates.  

...

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401K 401k investing wednesday word of the week Jan 02, 2019

Definition

A 401K is a retirement plan offered by most companies to help you save and invest for the future.

Why It's Important

I hope that everyone reading this is contributing to their 401K at work if they have one available (especially if the company matches).  There are two types of 401Ks,...

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MY 2019 FINANCIAL BENCHMARKS AND RESOLUTIONS Jan 01, 2019

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Wow!  Sitting down with these numbers is both empowering and depressing.  LOL!  I mean the massive amount of debt that I have taken on between school, cars, and business expenses, it's amazing!  I use this blog for motivation and accountability so...

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WEDNESDAY WORD OF THE WEEK RECAP Dec 31, 2018

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It's the end of the year and if you are subscribed to my newsletter, you know that I send a financial word of the week every Wednesday!  It is a financial term that you should know and will be helpful on your financial journey.  The whole purpose of my blog is to educate and improve...

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BEAR MARKET investing wednesday word of the week Dec 26, 2018

Definition

A bear market is when stocks see a 20 percent decline or more from a recent high.   

Why It's Important

The S&P 500 officially hit bear market status on Monday, dropping 20 percent from its 52-week high. Historically, these periods last about 13 months on...

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PENNY STOCKS investing wednesday word of the week Dec 19, 2018

Definition

Penny stocks are stocks that are trading below $5.00 a share. They are highly volatile. 

Why It's Important

Investor beware!  Penny stocks have the potential to make investors a lot of money they also expose investors to a lot of risk.  They key to penny stocks is...

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I AM BACK Dec 16, 2018

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Has it really been three months since my last post?  Man, time flies!  I had to step away because my final semester got really crazy.  I felt like I was on the verge of failing and I kept thinking to myself, I did not come 2 years to not graduate on time.  Well, the good news...

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MARGIN investing wednesday word of the week Dec 12, 2018

Definition

Margin is when brokers (Charles Schwab, TD Ameritrade, etc.) lend money to investors to make trades (think of credit) so they can leverage their assets to make more money.

Why It's Important

Investor beware!  Although using a margin account has the ability to make you more money, it...

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