Category Archives: Money Management

How to Recognize a Scam Before It’s Too Late

Tips on recognizing a scamUnfortunately, sometimes it’s relatively easy to fall for a scam — and even easier to feel stupid if it happens, which makes it harder to stop the scammers because people don’t want to come forward. I was the victim of one myself once, and although I didn’t lose much money it still wasn’t fun.

Scams are so prevalent that the FTC puts out scam alerts to inform consumers. How can you avoid being scammed? Well, most good scams have certain identifying features. Avoid them by keeping an eye out for them.

Here are 9 hallmarks of a scam. » Read more

What to Do With an Inheritance

How we treat money mattersReceiving an inheritance of money — like getting any lump sum of money — often leaves people wondering what to do with it.

The temptation to spend it may be strong. After all, it’s money you probably hadn’t been counting on. And there are probably things you’ve always wanted to do that you haven’t had the money for.

Getting an inheritance or lump sum can feel like free money. So what do you do with it?

I won’t pretend to advise you on your individual situation (talk to the appropriate legal and financial professionals about that) but I will tell you what I’ve done with inheritances myself. » Read more

Use the Power of a Bowl of Ice Cream to Secure Your Financial Future

How ice cream can help financesImagine you’re eating a dish of ice cream from your favorite ice cream shop. You’ve got two scoops in the bowl. But your friend (who is dieting) wants just a bite, so you give them a spoonful.

Now go ahead and finish up the rest of the bowl. (Mmmm, mine’s strawberry.)

Did you enjoy it? Was it good?

More importantly, did you miss the bite you gave to your friend?

Probably not. » Read more

The Real Secret to Personal Finance Success: Your Backup Plan

Don't let a financial iceberg sink you.

Planning is key to so much of personal finance — it’s how we get ahead and stay ahead. Without planning, we just scramble to react, or make decisions that can be bad for us because they aren’t well thought-out. (You know how it is when you’re forced to give an answer quickly, and then later you think of something better you could have said or done…)

But it’s not just planning for things you want to have happen that matters. You’ve also got to plan for the what ifs; the things you actively don’t want to have happen. » Read more

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