On today’s vlog session, I’ve gathered the following topics – all related to debt:
Flashback to 2008 – Bear Stearns: the precursor of the Great Recession
Assessing stocks – the most important company metric is debt and risk level
Book review: Squeezed. What the author describes as new for our economy is actually not new at all. And by maintaining low levels of debt, you can maintain a high level of resiliency when responding to changes in the financial environment.
How are you managing your debt or is your debt managing you?
When it comes to saving money, there are many ways to economize. Taking your lunch to work is a great way to avoid overspending. Then, there’s finding better alternatives. A generic store brand is worth a try and may be just as good as a name-brand item. Ultimately, there’s doing without. However, the habit of doing without may offer diminishing or detrimental returns.
Frugal, froogal, froot-gle. Nothing good can come of acting out a word that sounds way goofy. I’m reminded of 18th-century farm living where vocabulary was as limited as the society’s vocational opportunities. No one’s saying that you can’t adjust some habits downward, but developing an austerity habit may not help your future as much as you think it will. Frugalizing to the nth degree can be harmful to your well-being.
Investing. The word alone connotes stocks and bonds. Diversification is the sister term associated with investing. Subtract your age from 100 to figure out how much of an allocation in bonds you should own. Why do we need to have bonds? And what makes bonds a necessary portfolio companion? While trying to understand portfolio allocation a little bit better, I came up with the following five points.
Bonds are fairly simple to understand, they’re loans with a specific duration. They pay interest at stated dates. There’s an issue date and a maturity date. The issue date is the beginning of the loan and the maturity date is when the principal is paid back to the investor. Therefore, unlike stocks that you own forever, bonds are a temporary loan to the issuer.
Today is as good as any day for making financial changes, but maybe today’s not the day. Are you truly ready to change? What’s stopping you?
Instead of thinking about all the reasons why not, take the pressure out of the equation and, well, try.
When I took my Dale Carnegie class, each session involved standing in the front of the room and speaking for approximately three minutes. The most compelling presentations had a beginning, middle, and end. What I didn’t know was that this started in the first session. I thought we would have a warm-up session, not jump right in. I felt sick to my stomach and barely managed to get through. Continue reading “Making Financial Change”
When it comes to your financial knowledge, stop pretending that you don’t know what you’re doing. There are more resources than ever. If you’re a book lover, read a few on personal finance. If you’re a net surfer, start Googling up on financial terms.
Answer the following questions and take a few minutes to research anything that you don’t know. Don’t be afraid, we all have an area that we need to focus on. These items are off the beaten path, and from what I’ve seen, points that cause confusion. Some are Yes/No or True/False, while others are thought questions.
I’m all about sharing knowledge. I learn something new every day and never stop reading.
True or False: I have a progressive career plan that will increase my earnings within the next five years.
The last time I improved my work skills was ______________.
What I’ve accomplished during 2017 inspires me to keep it rolling. I pulled off some difficult projects at work and earned a top evaluation rating and raise. I finished an 18-credit certificate in Web Programming. I started this blog. Learning WordPress on my own and customizing the blog page was a challenge, but the struggle stretched my skillset. Blogging isn’t just about writing. It’s learning about social media, like Facebook, Pinterest, affiliate marketing, guest posting, and commenting on other blogs. My professional development wasn’t ignored. I conducted two financial planning workshops and presented at the IRS Practice and Procedures conference with the New York State Society of CPAs.