Investors think they are smart when they really aren’t. In fact, many investors don’t even earn the return they think they do. They end up earning much less. One common practice I see when it comes to investing is buying on the dips. What exactly is buying on the dips? It works like this. The stock market has a decent run up for a few months. As a result of the gains, some investors want to take money off of the table. In other words, they want to lock in their gains … [Continue reading]
Advertisers are good at getting you to spend your money. It’s their job to get you to part ways with your money. Advertising agencies have huge budgets that they spend on research to understand the human mind and emotions more so than you or I can ever imagine. It comes as no surprise then that they are able to get us to buy things even when we had no plans on doing so in the first place. In order to beat them at their own game, you have to learn their tricks. In … [Continue reading]
I love personal finance. Ever since my senior year of high school when I was introduced to economics, I’ve loved the world of finance. I even went to college for finance and worked in the financial services field for over 15 years. I love personal finance so much, I even read about it in my free time. Because I’ve read so many books on the topic, I decided to share with you my favorite personal finance books. Below you will find the books I recommend as well as a … [Continue reading]
Here is a little secret. Personal finance isn’t just about budgeting and managing your money. I know. Your jaw just it the floor, didn’t it? The truth is, personal finance is about a couple stages of our financial life, not just about getting us out of debt and saving money and it ends there. Personal finance is about personal finances. All of them. That means that you should have the opportunity to break up your financial life into two main phases. The … [Continue reading]
With the new year comes resolutions and for many, organizing their lives. Most people focus on their health when the new year begins, but I want to help you with getting your finances in order. When you get your finances in order, you improve the chances of reaching your goals. You also lower the stress that money has in your life. So why wouldn’t you want to start working on getting your finances in order? Here are a few tips to help you with getting your finances … [Continue reading]
If you read a lot of blogs, you’ll hear many people claim that financial advisors are a waste of money and that you can invest yourself. Why pay someone to do something that you can do yourself? Unfortunately, this argument isn’t so cut and dry. There are many people that know how to do certain things but choose not to and pay someone else for it. For example, cleaning their house. I’m sure if you hire someone to clean your house, it isn’t because you don’t know how … [Continue reading]
Have you ever received your cell phone bill and had to pick your jaw up off the floor when you saw how much you owed? You’re certainly not the only one. Mainstream cell phone companies are wonderfully tricky when it comes to billing, and many of the cell phone fees you’re likely to see on your cell phone bill you may have been unaware even existed. Unless you read through the novel of paperwork provided to you when you entered into your contract, there’s sure to be … [Continue reading]
If you’ve been paying attention to the news lately, you’ve most certainly heard of the term Bitcoin being used. This is because the price of Bitcoin has skyrocketed. It began the year worth $800 for a single Bitcoin. As of today, the price is over $15,000! So what the heck is Bitcoin? Is Bitcoin a scam? Or is it a legitimate way to make money? In this post, I will walk you through the history of Bitcoin and answer some common questions. I’ll also show you how you can … [Continue reading]
Budgeting is planning for the best and the worst. It’s what enables you to start accumulating wealth in a meaningful way. It’s what helps you move from living paycheck to paycheck to a life of relative ease and comfort. A budget is a plan to take every cent that comes into your life, and channel it into pre-planned directions. It’s an important part of fiscal responsibility and personal financial development. It’s hard enough to get used to following a budget when … [Continue reading]
How much are you paying each month on your cellphone? Cellphone bills can be expensive, on par with the monthly costs of powering your home or keeping your car gassed up. Of course, your cellphone can help you build your credit, but only if you aren’t strapping yourself with too large a bill every month. So if you’re sick of shelling out a small ransom to call, text and watch YouTube cat videos on your smartphone, you should know there are ways to lower your … [Continue reading]
Thanks again for visiting Penny Thots. My goal for this site is simple: to help you become a master of your financial future. You do this by learning to overcome your debt, making smarter spending choices and start investing for your future. When you succeed, I succeed. By teaching you about personal finance, you can take the steps needed to secure your financial future. As always, if you have any questions or want help with any personal finance issue, please contact me. I will do my best to help you out and answer any of your questions.
