fbpx

How To Crush Your Debt In 2019

With the Fed raising interest rates again before the end of the year, variable rate interest loans such as home equity lines of credit, variable rate student debt, and most importantly credit cards will be on the rise for 2019.  The mean credit card debt of U.S. households is approximately $5,700 according to the most recent data from the Survey of Consumer Finances by the U.S. Federal Reserve.  If you consider that credit cards can get into the 20% range for finance charges, this means that interest alone on credit cards could be more than $1,000 per household.  If you don’t have your hands around your debt situation, here are my five smart money moves to crush your debt here in 2019. Understand How You Got Into Debt- There are lots of reasons that we can into debt. You should be asking yourself how this situation happened in the first place. Was it because you had some unusual one-time expense ...

Read More →

Does Jim Cramer Run Your Portfolio?

About a week ago, Marketwatch (www.marketwatch.com) ran story called, “The Most Dangerous Stock Market Since 2008.”   In the past six years of bringing you my Your Smart Money Moves Column, I have shared with you how media can influence what happens in the markets in a very significant way.  Without even reading a lick of this column, would it be any stretch of the imagination to say that if the market hits all time highs that the potential danger gets higher and higher for some type of market pullback? If you really want to see something funny, spend eight minutes today watching this 2009 video of Jon Stewart’s The Daily Show.  This particular program poked fun almost five years ago at Jim Cramer, Rick Santelli, and other financial pundits for telling people to continue to buy stocks in a raging bull market before the bottom fell out (http://bit.ly/1aZk5rZ).  The video is particularly amusing with one of Stewart’s great quotes “I ...

Read More →

Four Television Words That Make You Lose Money

If you really want to see something funny, spend eight minutes this Sunday morning watching this 2009 video of Jon Stewart’s The Daily Show.  This particular episode poked fun at Jim Cramer, Rick Santelli, and other financial pundits for telling people to continue to buy stocks in a raging bull market before the bottom fell out (View The Clip).  The video is particularly amusing due to one of Stewart’s greatest quotes (in my opinion) “I would have a million dollars today if I followed CNBC’s advice . . . provided that I started with a hundred million dollars.” With the Dow Jones Industrial Average hitting 16,000, it reminds me that two very powerful words are at the heart of most money decisions:  Greed and Fear.   For years, I have always shared that Fear is just an acronym for “False Evidence Appearing Real”.   Fear makes us do squirrely things with our money.   Greed, on the other hand, jerks at our emotions ...

Read More →