Moneymonk

Growing my net worth and thinking of how to get ahead

Entries for November, 2009

Step Three: Insurance: What kind and How much do I need?

This is step three of our five part series in building your financial empire
Now that you have your savings underway, this can be a good time to start looking for insurance.
What kind of Insurance do you need?

Life (if you have dependants)
Disability (if you draw an income)
Auto
Home
Medical
Umbrella (if applicable)
Depending where you are in life, there [...]

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Friday Quote

“He who marries for love without money has good nights and sorry days.” – Anonymous

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Step Two: Saving: How much and where?

This is step two of our five part series on building your financial empire
Once you have your debt under control, next you want to start your saving.
Depending on your household status, you should save anywhere from 3-6 months. If you have a two income household, three months is sufficient. However, if you are the sole [...]

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Step One: Debt: Where to start?

This is Step One of our five-part series on creating your Financial Empire
If you have debt, you want to figure out how much debt do you have and what to pay off first.
First, separate your consumer debt from your non-consumer debt.
Non-consumer debt usually includes your mortgage and student loans. Consumer debt may include credit cards, [...]

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Friday Quote

Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are
- James W. Frick

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Your Financial Empire: Five steps to building your financial well being

I have put together a five part series in creating your financial empire
Topics of discussion will include:

DebtSavingInsuranceWillsInvesting
On Monday, I will kick off Debt, structuring it and paying it off

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My Lazy Portfolio(s)

Roth IRA
VTSMX VGTSX VIPSX
401K
iSharesAmerican
Daughter’s UGMA fund
PRGFXPRMSXRPMGX OTCFX
I do not own any individual stocks; sold them all

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Friday Quote

Don’t worry about your credit score because all it does is show you’re good at borrowing money. Not impressive! Worry more about saving up cash and paying off any debt you have.
-Jason, blog reader

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BudgetPulse.com introduces Online Fundraising Tool

During one of the worst recessions in decades, consumers saving for a financial goal both short term and long often have difficulties raising the money necessary to reach their goals. BudgetPulse.com is a free personal finance website offering customers the ability to set savings goals and then have their family and friends directly contribute funds [...]

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Get the e-book free: Recession Proof Graduate

Charlie Hoehn’s e-book is available for download. If you’re a recent college graduate or know someone that is soon to graduate this free e-book makes a good gift in times like these.
Steps to make yourself recession proof:
Step 0 Step acting like you’re entitled to a paycheck
Step 1 Choose a few areas you’d like to work [...]

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This blog is a list of ideas and thoughts that I suggest about finances. Please consult with a Financial Professional for any advice or information