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Cash Reserves 101: Why You Need an Emergency Fund

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One of the few personal finance concepts that garners near-universal praise is the idea of having some cash reserves.

For many topics in personal finance, there are seemingly as many critics as there are advocates. You commonly hear phrases such as:

  • “The stock market is too risky,” or
  • “You can’t retire early because you need health insurance,” or
  • “You shouldn’t travel because it’s wastefully expensive.”

I don’t agree with any of these perspectives, but you hear people offer them as feedback nonetheless.

Thankfully, few people disparage having cash reserves because they should be an essential component of everyone’s personal finances. Most of the time.

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10 Important Lessons From the Financial Independence Retire Early (FIRE) Movement

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Most of you have probably heard of the Financial Independence Retire Early (FIRE) movement (if not, don’t worry, we’ll explain shortly). Those of you who have heard of FIRE, you likely have a strong opinion on it – one way or the other.

But, whether you agree with the FIRE movement or not, I think there are important lessons that we can all agree on.

Well, at least I think that… I’m sure some of you will disagree with one or more of my 10 lessons from the FIRE movement below, but let’s find out. If any of these supposed lessons get you fired up (…couldn’t resist), let’s duke it out in the comments!

But first, here’s a quick primer on the FIRE movement so that we’re all on the same page.

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How to Avoid Work-From-Home Scams and Find a Real WFH Job

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There are a lot of office triggers I can’t stand. Like the fluorescent lighting. Or the the persistent distraction from pointless meetings and other coworkers. Or the whole thing about getting dressed in the morning to go there!

That last part is a joke, but it’s true. I am pretty lazy.

Which is why I found myself ways to work from home more. I even snagged a couple of 100% work-from-home jobs in the past (but working in I.T. is perfect for that).

My last job was at a company that contracted with the VA and was actually a 100% remote office. Everyone who worked for them worked from all different parts of the country. The President lived in Miami, the V.P. in North Carolina, HR in Colorado, an engineer lived in Florida, and Me in Missouri.

Do you know where I found that job?

Indeed – one of the legit online job boards you can usually depend on finding good opportunities.

But not every listing on a legit online job board is actually legit. Yes, a lot on the internet is very scammy. Especially ads for work-from-home jobs and scams. They squeeze into every platform possible and if you are not careful, you might fall for one.

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Debt Consolidation 101: Everything You Need to Know

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If you have many different debts with different interest rates, payoff schedules, and balances, it may sound like a good idea to sign up for debt consolidation. Debt consolidation can seem appealing with the promise of a significantly lower monthly payment and a reduced interest rate.

For some people, debt consolidation may be a reasonable solution. For others, they will be making the debt consolidation company rich.

The truth is, debt consolidation salesmen will tell you whatever you want to hear to get your business. Don’t fall for any of the gimmicks or false promises. Before you sign on the dotted line, learn the truth about debt consolidation to find out if this strategy is right for your situation.

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Why Lazy Portfolios Are The Best Way to Invest

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Imagine a world where you could sleep in until noon every day. Where you could watch Netflix for hours without feeling any guilt. Where you could eat all your favorite junk food, and not gain a pound. And, best of all, you could invest in lazy portfolios and still attain market returns!

Lucky for you, one of those is true!

Well, maybe they’re all true depending on who you are (and how fast your metabolism is). But, for most of us, we face the unfortunate truth that in every day life being lazy has negative consequences.

However, in the investing world, being lazy can actually be a good great thing.

Building a lazy portfolio could help you get the stock market returns you are looking for without having to invest the time and money most people typically associate with Wall Street.

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