Posts Tagged ‘Plugging Money Leaks’
How to Pay off Debt: Things to Avoid
Let’s say you’re in a position where you want to pay off debt. You have decided that the best and highest use of your money is to get rid of a particular loan or multiple loans so that you have more cash flow that’s not required to be paid to these fixed loan payments. The…
Read MoreCash Flow Index: The Smartest Way to Pay off Debt
Most people struggle to get out from debt like they’re drowning in the ocean. Like drowning, they waste energy, time, and money floundering and flailing instead of taking calculated, focused, strategically-timed strokes that would free them most efficiently. The Cash Flow Index removes this struggle. Before we dive into the Cash Flow Index, let’s talk…
Read MoreOpportunity Cost: The Invisible Cost of Financing
Opportunity cost, like the submerged portion of an iceberg, is a part of your financial decisions hidden from view. While odorless, colorless, tasteless, and silent, opportunity cost is a threat to your wealth creation. This wealth restrictor is no respecter of persons or purchase types. Opportunity cost is the tag-along to every financial decision you’ll…
Read MorePaying Cash Destroys Compound Interest
Let’s talk about paying cash. Now it certainly has its pros, but it also has its cons. The reason people often pay cash is that they don’t want to pay interest. They don’t want to go into a position of what they feel is debt. They would rather pay cash to avoid an interest charge. However,…
Read MoreThe Right Way to Spend Money: Spender, Saver, or Steward?
Alexander Pope said, “To err is human, to forgive divine.” Financially speaking, it would be more accurate to say, “to spend money is human, to create wealth divine.” No one ever needed a lesson in how to buy things. In fact, with no restraint, we manage quite well to find plentiful ways to spend money. How you spend…
Read MoreWhy Debt Free Doesn’t Make You Financially Free
Becoming debt free is often listed as a notch on the belt of financial progress. It’s widely discussed, admired, longed for, celebrated, and even praised by so-called financial experts like Dave Ramsey. But, paying off debt may be and personalities risky or even altogether unnecessary. In fact, you’re probably not in debt in the first place! We…
Read More4 Ways to Save Money on Life Insurance
Now, when you’re shopping, you want to make the best decisions, and it’s not always about the price. If you wanted to save money on everything, you would buy only at the dollar store, right? In this video, we discuss four ways to save money on life insurance without being cheap. We want to not…
Read MoreHow to Shop for Insurance Pt 3: Life, Health, and Disability Insurance
Life, health, and disability insurance protect you, your body, your wellness, and your livelihood. This range of coverage includes some of the most essential protections. Too often, people ask the wrong questions. This leads them to draw the wrong conclusions about life, health, and disability insurance. As a result, many remain drastically underinsured or forgo the protection altogether.…
Read MoreHow to Shop For Insurance Part 2: Home and Auto Insurance
Home and auto insurance are two pillars of insurance protection that are almost universally understood to be necessary. However, when it comes to choosing and paying for coverage, you have nearly infinite options. The range of coverage details, exemptions, coverage amounts, and limitations add complexity. This can make shopping for insurance seem like a maze…
Read MoreHow to Shop for Insurance Part 1: 7 Tips to Save on Insurance
When you shop around for insurance, it’s best to start with a game plan. Then you know what to look for and how to save on insurance without sacrificing value. It’s just like shopping for groceries, a marketing strategist, or an investment property. First, you need to know what you want. Next, you want to know…
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