What is your advice for starting a personal emergency savings plan? Millennials & college students especially struggle with creating an emergency savings plan. What advice do you have for saving up those pennies to possibly save our lives later on? The most important thing you can do is to make it automatic so that you … Continue reading How to Start a Personal Emergency Savings Plan
Is it possible to pay mortgage payments via credit card? Yes. I do this using a service called Plastiq. I was skeptical at first, but after a couple months of mortgage payments with no issues, I’m very happy with the service. How much does it cost? They currently charge a 2.5% fee. So if your mortgage … Continue reading Can You Pay Your Mortgage with a Credit Card? Should You?
What are the best passive income opportunities with little investment? I recently learned about a really interesting passive income opportunity called Merch by Amazon. It’s like Teespring for Amazon. You create a t-shirt design, upload it to Amazon, and earn a percentage of each sale. I believe the commission on a $20 shirt is about 35%. … Continue reading Why Merch by Amazon is the Best Passive Income Opportunity in 2017
Is eating healthy more expensive? It really depends on where you are eating. If you’re preparing meals from scratch at home, then eating healthy is not more expensive. In fact, it can be a lot cheaper. I bought two Publix Greenwise 8 oz. top sirloin filets last night for under $10. That’s a fraction of … Continue reading Is Eating Healthy More Expensive?
Is it a waste of money to buy books? Short answer: no. I like to defer to Ramit Sethi’s book-buying rule here: If you’re “thinking about” buying a book, just buy it. Don’t waste 5 secs debating. Even 1 idea makes it worth it. In this article, Ramit explains that buying a $30 book could … Continue reading Are Books a Waste of Money?
What is the single most effective piece of financial advice you've ever received? These three words make up the single most effective piece of financial advice I’ve ever received: Pay yourself first. I first came across these words when I read David Bach’s book, The Automatic Millionaire at age 19. First, I’ll describe how to NOT pay … Continue reading The Most Effective Piece of Financial Advice I’ve Ever Received
"Spend money on experiences, not things" -- what does this mean? I do not understand the above statement, can someone kindly explain it with a good example. Also this TED talk: https://www.youtube.com/watch?v=2RD0OZCyJCk talks about how companies try to provide experiences. He talks about Starbucks as an example of providing this experience. How is drinking coffee … Continue reading What It Means to Spend Money on Experiences, Not Things
What are some things that are really worth spending extra money on? Here are three things really worth spending extra money on. Labor (that you don’t enjoy): Any job requires labor and you can either do it yourself for free or pay someone to do it for you. In many cases, it’s worth spending the … Continue reading 3 Things Worth Spending Extra Money On
What are some things that are worth spending top money on? Anything that impacts your health is always worth spending top money on. The best example I can think of is food. Generally, higher quality food will be more expensive than lower quality food. This is true in grocery stores as well as restaurants. 1 … Continue reading Cheaper Isn’t Always Better: Why You Should Spend More on Certain Things
Would you rather spend time to save money or spend money to save time? I’d much rather spend money to save time than vice versa. If you can afford it, paying for your time is ALWAYS worth it. I pay for a cleaning service to clean my house and virtual assistants to research things for … Continue reading Why You Should Spend Money to Save Time