There Are No Financial “Secrets”

“A writer should have this little voice inside of you saying, ‘Tell the truth. Reveal a few secrets here.’”
–Quentin Tarantino

“Three may keep a secret, if two of them are dead.”
–Benjamin Franklin

Let me let you in on a little secret. There aren’t any financial secrets. Nobody has the secret formula for investing in gold, options, emerging market funds in Bhutan, or pork belly futures that you don’t already know or can’t already find. There are no secret gimmicks for making you magically pay down your debt with some fancy payment system. There are no secret ways to … Read the article

Personal Finance FAQ Series: What Are the MOST IMPORTANT Items I Should Budget For?

If you really wanted to, you could come up with a budget item for every possible thing that you’ll ever purchase in your life. From cars to cashews, you could create a line item for it. You’d also have no other free time and would lead what would have to be the most boring existence in the history of mankind.

If you’re going to make a budget, though, it’s important to get it right and to budget correctly.

What Are the MOST IMPORTANT Items I Should Budget For?

What questions would you like to see me answer? Leave me a … Read the article

Reasons to Keep More Than a Six Month Emergency Fund in Cash

“Banks introduced the installment plan. The disappearance of cash and the coming of the credit card changed the shape of life in the United States.”
–Jerzy Kosinski

As Black Monday erupted and people were jumping out of windows, a phrase was born. “Cash is king” posited Per G. Gyllenhammar, the CEO of Volvo. Thus a phrase entered into our lexicon. You can utter that phrase to nearly anyone and get at least some din of recognition.

The typical financial advice that you’ll find is that you should have six months of expenses in cash or liquid assets such as CDs … Read the article