Are You Profitable?

One of the industries I invest in is property and casualty insurance. It’s a brilliant model for a couple of reasons:   They very rarely lose money. Everyone needs it. The main reason I invest in it, and why I think it’s a great example for how you should be approaching your personal economy, is they’re almost always profitable. Think about hurricane seasons in the past — a storm (or storms) devastate a part of the country and insurance premiums go up all over the country. Why does this happen? So the company issuing the insurance can remain profitable. The …

Why Black Friday is like the Iowa State Fair

I love Black Friday. But not for the reason that most people like Black Friday. Me getting up at 4am to get the door-buster deals generally doesn’t happen. However, me getting up at 4am to watch what happens when the door-buster customers show up routinely happens. Black Friday is like the Iowa State Fair for me. It’s a circus, oftentimes mayhem, wrapped in cloaks of consumerism, greed, and sloth. It’s not the deals, but the details I’m interested in. While the benefits of $2 DVDs and $200 TVs are unmistakeable, it’s the people watching that makes the day such a …

The M.O.M. Cash Flow Budget Template

I have to level with you — I don’t use a traditional budget. I think they’re incredibly important at certain points of your life, and then they eventually become part of who you are. You just inherently know how much you have to spend and know when you’ve crossed the line. The budget that is featured at the bottom of this post is the one that I have used for the past couple of decades, and I’ll share with you how I use it, as well as how I handle the cash flow of our household in relation to the …

3 Easy Ways To Make Money This Weekend

With the side hustle becoming a part of American Millennial culture, what better way to go into the weekend than a comprehensive list of things you can do this weekend to make some extra scratch? The following are five easy ways to make money this weekend that don’t require advanced degrees, crazy hours, selling bodily fluids, or becoming the subject of a sketchy research project: Start Driving For Uber : There’s a reason that Uber has become the quintessential side job. You can work whenever you like, for as long as you like, and even get the funds sent to …

FIND YOUR FINANCIAL GRIT: A STEP-BY-STEP GUIDE

Winning with money is not an easy path to walk. The experience can definitely feel like a walk through the mud. If financial success had a mascot, it would definitely be the iconic tortoise from “The Tortoise and the Hare.” How does the Tortoise win with a clear disadvantage and the odds stacked against him? I bet if we had a chance to ask him, we would find that he’s got a lot of grit. In her popular Ted Talk, University of Pennsylvania Professor and Psychologist Angela Lee Duckworth defines “grit” as “passion and perseverance for very long-term goals.” She …

Debt Distortion: Why Dave Ramsey and Robert Kiyosaki are BOTH Right

Imagine a world where everything you perceive to be true about finance, family, fitness, food, etc… is not what millions of other humans perceive to be true. Not only that – people attempt to bring you down for your beliefs, or talk quietly amongst themselves about how stupid you are for doing the things you do. To be fair, you don’t think that highly of them either. You’re experiencing selective distortion – welcome to planet Earth. A Tale of Two Titans Let’s take a look at two highly successful, well-respected financial gurus and their respective stances on debt: Robert Kiyosaki, author …

Mortgage or No Mortgage: Why Your Personal Financial Plan Is Crucial

Whether or not to pay off your mortgage is a very individual decision that is based on a number of factors. My sister and I were having a conversation not too long ago about mortgages as she and her spouse were refinancing their home in Northern California. I was throwing ideas out to her about keeping the original first mortgage they had in place and blasting away the second using a debt elimination tool like Shred My Mortgage. The first mortgage had a healthy balance but a relatively low interest rate and the second mortgage was hovering around $40,000 with …

Love Your Kids? Let Them Struggle.

**Originally published on The Huffington Post – February 7, 2017** “What do you do when your girls are texting you to put money in their account?” This was the first question asked by a group of parents at a college parent night where I had been invited to speak. The look on this particular dad’s face suggested it wasn’t a hypothetical situation but something that was happening occasionally. So I turned the question back on him, “What do you do when your girls are texting you to put money in their account?” “I usually put some in there for them, …