June 2007

Motivation and Money Tip # 6: Slow Down

June 10, 2007

Do you ever bite off more than you can chew? I do. This blog is a great example. When I started it, I planned to write a gazillion articles each day, post 10 comments on other blogs each day, interact with the blogging community daily, and on and on. Then came reality (a.k.a. my wife, [...]

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The Dark Side of Placing Your Finances on Autopilot

June 9, 2007

Automating finances is a great way to build wealth. Perhaps the best example is setting up automatic contributions to investment accounts. Automatic contributions are standard with 401(k) accounts, but can also be set up in IRAs or taxable investment accounts. David Bach’s bestselling book, The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish [...]

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Is Flipping Houses Investing or Speculating?

June 8, 2007

A few days ago I wrote an article entitled, Real Estate or Stocks: Which is the better investment? In response, Enough Wealth wrote a comment worth reading. Of interest here, Enough Wealth wrote: The problems experienced with both stock or property investments are more often due to the investor rather than the asset class. This [...]

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Motivation and Money Tip # 5: Track Progress

June 7, 2007

Photo Credit: chefranden Not everything that can be measured is important, and not everything that is important can be measured. In the case of financial goals, however, tracking progress is an important habit to develop for at least two reasons: Mid-course corrections: Tracking progress allows us to see if we’re moving in the right direction [...]

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Raising Quicken Kids

June 7, 2007

I’m always looking for ways to raise my kids’ appreciation for money. Recently, we started something that has had positive results–we set up checking and savings accounts for our kids in Quicken. The accounts aren’t linked to actual bank accounts–mom and dad keep the money. We track in the checking accounts all incoming funds, including [...]

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Carnival of Real Estate Investing (4 June 2007 edition)

June 6, 2007

EquityScout.com hosted this weeks Carnival of Real Estate Investing, which you can read here. The Dough Roller’s article entitled, The 1% Solution to Real Estate Investing, was chosen as one of the Top 3. Thanks, EquityScout. The 1% solution simply states that you should look for rental property that can generate gross rents equal to [...]

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Rich Dad Gives Lousy Advice

June 6, 2007

I read Robert Kiyosaki’s book, Rich Dad, Poor Dad: What the Rich Teach Their Kids About Money–That the Poor and Middle Class Do Not!, years ago. It’s a decent book, although a bit gimmicky. His discussion of the relationship between the balance sheet and the income statement is good. Basically, you want as much of [...]

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103rd Edition of Carnival of Personal Finance

June 5, 2007

The 103rd edition of the Carnival of Personal Finance is now available at Clever Dude, which did a great job of hosting the Carnival, especially if you are a 24 fan like I am. The Dough Roller’s post–Don’t Steal from St. Peter– was included in the Carnival. Thanks, Clever Dude. BTW, Clever Dude noted that [...]

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Motivation and Money Tip # 4: Create Milestones

June 4, 2007

As we discussed in Tip #3–Think Small, sometimes our long-term financial goals seem impossible. The Think Small tip reminded us that no matter how big the goal, it is achieved in small, easy steps. Setting challenging, short-term milestones will help motivate us to the next level in whatever we do. In personal finance, milestones can [...]

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