Category Archives: From the Archives

You Can Ask for a Raise Successfully if You Follow This Advice

In her article, “How to Ask for a Raise in a Bad Job Market,” Alexandra Levit gives sound advice about how and when a person should ask for an increase in pay.  Levit suggests that the best time to request a raise is immediately after getting a positive performance review, but recommends a person role-play requesting a raise, arrange an informal, low-pressure meeting, and begin the conversation on a positive note.  Acknowledging the positive review and asking for a raise succinctly are also recommended steps.  Reacting to a boss’ refusal professionally instead of angrily or with a threat of quitting is necessary so a person can ask his or her manager to revisit the request for an increase in pay at a future point in time such as four or six months later.  Levit summarizes her article nicely when she writes, “Bottom line: Be assertive about asking for a raise, but be smart about your timing and your approach. Think it through in advance, and don’t let your emotions get the better of you. The more professional you are, the more deserving you will appear.”

Posted at Get Rich Slowly

Consider an Auction to Find Your Next Car

This article describes the author’s personal experience with buying a used car at an auction and gives some advice for people looking to do the same.  The author suggests attending an auction of newer cars that is not open to the public and reviewing the inventory list of available vehicles to identify the ones a person has an interest in.  Attending a preview of the vehicles and researching the values of the cars are also advised.  The author also recommends that people figure out how much they are willing to spend on a car and that they go to a few auctions before they actually participate in one.  Monitoring the bidding trends, adhering to a set budget, and having the vehicle inspected on-site before leaving the action may also prove helpful to a person.  The author cautions people that they will have to put down a deposit on a vehicle on the day of the auction and pay the remaining balance the next day.

Posted at Get Rich Slowly

Tips to Afford a Long Retirement

In “Will Your Investments Cover 30 Years of Retirement,” Glen Craig provides advice on how people can afford to live as retired individuals for three decades.  Craig recommends that people invest the maximum permissible amounts in their retirement accounts and delay taking withdrawals from these accounts for as long as possible.  He also suggests that people consider having a part-time business or job for at least the first few years of their retirements so they won’t have to rely on their savings to cover all of their living expenses.  Craig also advises people to continue contributing to their retirement accounts with any earned income they make during their retirement years until they are no longer allowed to do so.  He also recommends that people delay taking their Social Security benefits until age 70 and that they invest for growth after they are retired.

Posted at Free From Broke

Put your mind over your money

In his article, “Mind Over Money,” Rick Kahler makes the case that even though the human brain is wired to fail in the context of finances because 80 percent of the decisions people make are based on emotions, people can trick their middle brains, or limbic systems, into taking the steps necessary to enjoy financial success in their retirement years.  Kahler suggests a person can trick their minds to save for retirement by envisioning themselves enjoying the benefits of having a nest egg in the future or by imagining themselves not being able to afford a comfortable lifestyle during their retirement years.

Posted at The Dollar Stretcher

 

Learn to set your brand preferences aside

We all have preferential brands in every product category we shop for which is why we don’t even bother to look at what the substitutes are offering. Trent Hamm tells us how to get rid of these brand preferences and focus on the actual product, after you have to use the product and not the brand. The quality of the product should be more important for you than the brand itself. You should understand that one brand cannot maintain the top position at all times in the market. There will be a substitute that will be better.

Posted at The Simple Dollar

Self-improvement is an ongoing process

Trent Hamm, in this article, share some valuable tips about how a person can spend their time participating in self-improvement activities instead of laying idle and waiting for opportunities to come their way. Self-improvement should be considered an investment in terms of time which will give the investor high returns in the future. This valuable investment can be used to stay healthy, gain knowledge, skills improvement and to work on existing relationships. Participation in these activities is not time wasted, it is time invested.

Posted at The Simple Dollar

Learn how to cash your passion

This article suggests a few ways of how to go about making money from something that you love to do. Along with persistence and being able to take constructive criticism, one should be able to learn from their mistakes. Practice leads to perfection and customizing one’s work for others earns you customers. Blogging, making videos, releasing tutorials and writing e-books help publicize what you like to do. The list of tips here is not exhaustive; however, these are small steps necessary for a start.

Posted at The Simple Dollar

The fundamentals of getting rid of piling debts

Debt has become such an essential part of our financial structure that we have come around to treating it normally and ignoring it till it poses as a serious threat to our financial stability. Andrea talks about the only two ways of paying off your debts: one is to spend less and other is to earn more. Changing spending behavior and cutting useless money wastage would help with the first option while having a side business or another job would help with the latter option.

Posted at So Over Debt

Learn about the fundamentals of budgeting

This article, written by Derek, focuses on how important it is to budget your expenditures. 4 aspects of budgeting are highlighted in this article. You should have an idea of how much disposable income you have, you should know your major sources of income, you should know how your money is being spent and you should have an idea of what you can and are doing with your money. The ability to invest and to take chances is stressed upon. Having multiple sources of income is also a way to attain a higher level of financial security.

Posted at Life and My Finances

Look at the business opportunities in America from the eyes of immigrants

Derek, in this article, quotes some staggering statistics that prove the high probability of American gaining the status of a millionaire. He sheds light on a few behavior patterns of immigrants that might lead them to attain financial success. The contentment with having the basic necessities of life fulfilled, help the immigrant keep their expenditures in check. Expenses are further lowered by families living under the same roof and sharing expenses. The risk-averse nature leads them to invest in low risk investments assuring a return. The profits being reinvested in the business ensures a higher growth rate for the business. Incorporating these habits would help the Americans to take advantage of the opportunities.

Posted at Life and My Finances