Tag: money

A basic guide to paying off debt quickly

images (1).jpg
Image source: ebony.com

Steve Sorensen embezzlement. More than half of the American population spend more than they earn. As a result, they pay through credit to link the gap. With that kind of lifestyle, it’s easy to see how some struggle to pay off their debt even as their salaries increase.

Paying off debt quickly doesn’t mean it’s also easy. Many people who have successfully paid their debts credit their success to aggressive saving and a radical decrease in spending. The first step to paying off debt is acknowledging the existence of debt. Coming to terms with it will enable one to plan steps toward being debt-free. Following the initial step, one must pay more than the minimum. Doing this could mean fewer nights out and movie nights at the cinema. Steve Sorensen embezzlement.

images.jpg
Image source: suzeorman.com

Get a side gig. Spending less and earning more is a killer combo. A side hustle ensures more money coming in. However, remember to protect the goose that lays the golden egg: the main hustle. Live meagerly. Tighten the budget, make ends meet, and save aggressively. The greatest reward in doing all this is paying off debt much faster. Steve Sorensen embezzlement.

Sell stuff that don’t spark joy anymore. Much like a side hustle, selling useable, yet unwanted and unnecessary things around the house can bring in added money. Being wise with money doesn’t only mean spending less and earning more; it also means finding other ways to make more. Paying off debt isn’t rocket science, but requires much thought, time, and effort. Steve Sorensen embezzlement.

Three Costly Investment Mistakes You Need To Avoid

Committing mistakes is a part of life, and is an essential part of our progress. However, certain mistakes are too costly to be a part of your learning process. Especially in investment, where you’re talking about your money, you can’t have too many mistakes in your portfolio.

Here are some of them so you can avoid them in the future.

1. Confirmation bias

You may believe certain things about market conditions and research for information to support those beliefs. This is dangerous as you might be ignoring other information that could be valuable in your decision making.

Image source: kartrocket.com

2. Anchoring

Times are changing faster than ever before, not only in technology but investment as well. You may fall victim of “anchoring” where you become fixated on past information and then use that information to make investment decisions.

3. Herd mentality

People like to “belong.” It’s in our DNA. This desire could motivate you to pursue an investment just because it’s the trend and everybody’s doing it. Study and weigh the investment carefully before committing.

Image source : valueresearchonline.com

Hi there, Steve Sorensen here. I’m a certified public accountant and business writer from Colorado. I have a strong background in business and finance. I also offer advice to companies on clamping down on employee embezzlement. Visit my blog to know more.