Personal Finance

How to Build Wealth – Automate your Plan

by

Wealth Building Tip #3 is all about the mechanics. You have a plan. Automate it!

You may not love spreadsheets like I do . . . that’s cool, here’s how some of my clients set up their accounts and how they manage them with minimal effort. Building wealth happens best when it can function on autopilot.

So the sets of accounts are out there: Step 1, Step 2, Step 3. Step 4 is a bonus. You can rip through this entire process in a weekend if you must. Given the impending doom of Credit Card bills in January, now might be the best time to take a look.

Thinking about what to give your parents for Christmas, Hanukkah, Kwanzaa, Festivus? How about giving them the gift of a wealthy you! They’d rather see you able to thrive on your own than buried in debt buying Dad an Ipod nano and cordless screwdriver set.

Investing versus Employment

by

Can you build wealth by being an Employee?

ABSOLUTELY!

When thinking about your financial picture consider that having stability is the foundation from which you want to build. Some people prize that stability more than others. If you remember selling bumper stickers door-to-door in your neighborhood for extra bucks at the age of 7, and gumballs door-to-door at age 5, well, then you may have an entrepreneurial streak or at least a penchant for sales. Even still, you may prefer the “safety” net of working for someone else.

While current employment is no guarantee of future employment, the fact is, it is a lot easier to be an employee than it is to own a business for 99% of the population. Recognizing which part of the population you are in is paramount to your success. Even if job security isn’t what it once was, deluding yourself that you can operate a full business is always what’s it’s been – a disaster.

Take a soulful look at which you prefer and get a few more ideas: How to Build Wealth – Investing versus Employment

Play with your Money!

by

Today’s lesson on personal wealth building encourages you to play with  what you have. The Asset account is for intermediate-long term but higher risk than your stable long term account. Assuming you’ve set up the other accounts in respectable fashion, this is where you can blow your wad, or really, hopefully, where you establish yourself as a savvy investor.

Check out How to build your wealth – play with your money! 

As always, we can not be responsible for your lousy investment choices or analysis. Nor can we be responsible for your wild success . . . though we will try to claim it.  Wink, wink, nod, nod, get to it.

Day 2 of How to Stash Your Cash

by

So now that you know what you want and how to divide the rest so you can get what you want, you need a place to store it, yes?

Enter: Stash your Cash. Part 2 is live. GET TO IT!
Start at the very beginning. Go here if you are just joining us at Miss Mentor and want the full Monty of personal finance.

Start at the beginning of Stash your Cash – the kinds of bank and investing accounts you need . . . even when you don’t think you have money to put in them if you missed yesterday and can’t be bothered to scroll down.

Why is it important to know how to build wealth, um, seriously, do you need to ask that?

I love the smell of my . . .

by

MONEY!

Oh how I love the smell of wealth in the morning . . .

This week we get into the nitty gritty of where you should stash your cash while you are learning how to build wealth. This is not a one size fits all situation, but I do have some recommendations based on the accounts you should have organized last week. This is the week to set up those accounts.

Click here to Get to it!

Day 2 of Personal Budget is live

by

You need a personal budget. Whether you are cube-bound and looking to make a break for it or trying to create wealth, you need to sit down with your papers at least once.

I know, I know, this is about as *Hot* as an Igloo, but we’ve made it super easy for you to do. Yesterday was part one of the terms you need to know, today, part two.

Tomorrow we will share the wide-view of where you want to go. In the meantime, get your personal budget

Total Personal Budget? Like Totally….

by

Wealth Building Tip #2 – Plan for Wealth, the Personal Budget

Unless you’re born with it or get very lucky along the way, you need to PLAN for wealth. The following Personal Budget PLAN recommendations acknowledge that you have special needs as a young professional. Chances are you have more debt from pursuing education than average, or you are looking to take on some debt for education. It also acknowledges that you have all sorts of large financial events in front of you: houses, babies, gigolos….

FIRST, some terms to keep us together.

Financial Fluency Series Starts

by

Guys and Dolls, based on the personal e-mails I receive from you, it is time to unleash the Financial Fluency series (insert maniacal laughter here: BWAHAHAWA!). We’ll start by easing you into a plan of action and then . . .

Do it!

Do it!

Do it!

No room for pussyfooting around. It IS all about you here. Learning how to conduct yourself at the office is all part of your grander scheme, yes? Getting your finances in order is part of the scheme too no doubt. The master page: Building Wealth.