My first bank account wasn’t at a bank. It was at a credit union. At the tender age of 16, my mom and I walked into a branch of the Teachers Federal Credit Union and opened up a joint account. They printed out a little card, laminated it, and handed it to me. I stuck […]
Whether you know it or not, you have a financial system.
If you didn't sit down and explicitly design it, it may be a little messy. It may have accounts you no longer need, credit cards you stopped using, and other relics you need to clean up.
It may not have some features you'd otherwise want but just haven't gotten around to because life has a funny way of getting in the way.
This category focuses on the big picture systems you put into place to make the rest of your life easier.
LearnVest was founded in 2009 by Alexa von Tobel with the goal of bringing financial planning to women. They would eventually expand their target market to include everyone. Once thought to be the domain of the rich, many Americans found professional financial planning out of reach – LearnVest was designed to overcome this. Through online […]
How much do you have saved up in retirement? If you’re like most Americans, the answer is not much. The average net worth of Americans is just $80,039. When you take out home equity, it’s only $25,116. That’s across the entire population of the United States – single, married, 65, 25, black, white, etc. Do […]
The following post is by ESI from ESI Money, a blog about achieving financial independence through earning, saving, and investing (ESI). It’s written by an early 50’s retiree who achieved financial independence, shares what’s worked for him, and details how others can implement those successes in their lives. Tim Ferriss says that “if you win […]
Ever wonder: “How much is my house worth?” When we track our net worth, one of the line items is the value of our home. We keep it as an offset against the mortgage, otherwise our net worth would be lopsided. One of the challenges with home values is that it’s difficult to mark them […]
Quicken does not charge for technical help. Let me repeat – Quicken does not charge you for technical help. A long time user of Quicken emailed me because she was having problems with Quicken. She’d been using it for twenty years and this year things started to go wrong, starting with being unable to transfer […]
Years ago, if you wanted to send money to someone online, you used Paypal. Years ago, if you wanted to hack a system to steal money online, you tried to hack Paypal. Nowadays, you have a lot of payment processors, a lot of money transfer systems, but the attacks and the phishing never stops. I’m […]
The software engineer in me never liked the idea of credit scores. Here’s this number that’s supposed to define your likelihood of defaulting on a loan but it doesn’t include anything about your ability to pay? It doesn’t include income anywhere. It doesn’t include your non-debt obligations (like rent). It doesn’t include any trends, like […]
The center of my financial network map is my primary bank account, a checking and savings account at a single bank. The checking account is my primary account, where I pay my bills and receive deposits. The savings account is where my money sits when I don’t need it for checking. It earns a little […]
Psychology was one of my favorite subjects in school. It was like getting an instruction manual for how people worked. A cheat sheet, if you will. One of my favorite “theories” in psychology is Abraham Maslow’s Hierarchy of Needs. Here it is: It’s a theory of human motivation. We aim to fulfill the needs at […]