Before investing in the stock market, bone up on investor literacy
For many, the stock market dangles the lure of easy income. While investments in equities is the best long-term way of earning more inflation – and far more than a…
Before crashing, prepare a budget and negotiate a payment plan
Sometimes all the best ideas just are not enough. You have too much debt, you owe the IRS for back taxes, you are behind on the mortgage payments … and…
Set a fixed repayment schedule when borrowing from family and friends
Borrowing from family members (and friends) may seem like the best way to cover urgent bills for a few days. But such borrowings put an enormous strain on relationships. The…
Take advantage of free money
https://www.youtube.com/watch?v=tQB-xff4e6kIn her popular money book, How to Retire with Enough Money: And How to Know What Enough, Teresa Ghilarducci recommends that everyone take advantage of free money in two ways. First,…
Pay off your credit card bill in full each month
It is sometimes hard to figure out just how much you are paying for financial products and services. By law, financial firms are obliged to tell you what their fees…
Keep at least $400 in cash
In my former life as a World Banker traveling throughout developing countries, including war zones such as Croatia during the Balkan War, I learned to carry at least $2,000 in…
Use text messaging for reminders
Once you have decided on a course of action, use text messages to help focus your attention. A 2016 study funded by the Center for Financial Services Innovation found that…
Set up YourBank to deal with the ups and downs of monthly income
The U.S. Financial Diaries showed just how volatile income has become for American households. On average, the monthly inflows varied by at least 25 percent in almost three months of the year…
Start by setting easy goals
Part of the strategy of money hacks is to ensure that you feel successful. For this, it is best to set small and easy-to-achieve goals for the immediate future. For…
Focus on just one goal
Research also shows that it is best to set your sights on just one goal – but then take concrete action to make it happen. Find your North Star and…