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The Importance of Building Assets

 consumer, financial planning, wealth creation  No Responses »
Oct 192009
 

There are two categories of money. Assets are a stock that (hopefully) grows over time. Income is a flow, it comes in – from various sources – and goes out in order to meet our various needs and wants. It is important to understand the difference between assets and income.

It is possible, but not wise, to survive entirely without assets. Money comes in, from wages or profit, and it is spent. Should the source of income disappear we are left at the mercy of our particular state welfare scheme, or charity. Continue reading »

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The Cashflow Quadrant

 books, wealth creation  No Responses »
Oct 162009
 
Cashflow Quadrant

Cashflow Quadrant is Robert Kiyosaki’s follow-up to the classic Rich Dad Poor Dad. The cashflow quadrant is essentially a cross with the letters E, B, I, S inscribed in each quarter. The letters represent the various ways of generating revenue. On the left are E (employee) and S (self employed), and on the right B (business owner) and I (investor). Continue reading »

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Top 10 Personal Finance Mistakes to Avoid

 consumer, debt management, investing, wealth creation  No Responses »
Sep 122008
 

A lot of people lose a lot of money by repeating a few basic mistakes. We’ve tried to identify the main culprits here. By recognizing those you make, you can begin to avoid them.

1 Financial Ignorance

It seems almost fashionable for some to plead ignorance over finances with the result that we either make the wrong choices or abdicate responsibility to some kind of adviser who may or may not act in (or even fully understand) your best interests. You don’t have to be Warren Buffett, but acquaintance with the basics is within most people’s grasp. Spend a few hours with a book such as Personal Finance For Dummies by Eric Tyson. Continue reading »

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Massive Savings on Top Business & Finance Magazines

 investing, magazines, promotions, wealth creation  No Responses »
Jul 172008
 

Knowledge is power! Keep your finger on the pulse of business, economic and financial events with these leading magazines offered at substantial discounts in proud association with Amazon.com. Check out these great deals and start boosting your wealth:

SmartMoney  comes to you straight from the editors of the Wall Street Journal, the best financial reporters in the business. Every issue brings you the information you need to know to deal with markets and protecting your wealth. Turn to SmartMoney for no-nonsense advice you can put into action. Continue reading »

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How Active Should You Be?

 financial planning, investing, stocks, wealth creation  No Responses »
Jun 192008
 

How active should you be in re-arranging your investment portfolio? For an ideal investor in an ideal world, the simple answer is as little as possible. But this assumes, of course, you always make the right decisions and that life is completely stable. In reality things change, in the economy at large as well as in your personal circumstances.

Are you an investor, or a trader? These operators adopt very different strategies and it’s important to know which you are. See Investment vs Trading and Is Trading Dumb?. This article is aimed at the investor. The message is – don’t be a trader by the back door. Continue reading »

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