Disclaimer Reminder: I am not a financial advisor. This blog nor the author is responsible for investing decisions you make. Please consult with a professional before investing. You can find our full disclaimer here.
Nobody wants to lose money!
Psychologically, it hurts much more to lose than it feels good to win. Think about how you would feel taking $1K out of an ATM and then having it fall out of your pocket. Now think about how you would feel to learn everyone at your company including yourself were given a $1K (net of tax) bonus at work. Personally, I’d be much more upset about losing the cash than happy about the bonus.
Even though it hurts more to lose than to win, remember that in equal amounts, they have the same financial effect! Is this fear of loss holding you back when you invest?
Continue reading “The WPF Coin Flip Risk Assessment”
As I’ve mentioned in previous posts, at the beginning of this year I thought I had my financial life in good order, but I was wrong. The more I searched for ways to improve my finances, the more opportunities I found. Over the past few months, I’ve learned of a number of new ways to earn or save some money. One of my motivations to start this blog was to create an easy way to share these opportunities with family, friends and others seeking to optimize their finances.
This article is the second in a series of posts about the actions I have taken to save or earn more money. The first was about increasing the amount of interest I earn on my savings.
Winning Personal Finance Move #2
Continue reading “Procrastination is the Enemy of Winning – Save Money on Insurance”
I recently attended a wedding and want to wish a heartfelt public congratulations to the lovely bride and groom! Since I didn’t get a chance to give a toast over the weekend, I would like to offer some unsolicited financial advice for all see. Without further ado, here it goes:
Continue reading “8 Winning Personal Finance Tips for Newlyweds!”
At the beginning of this year, I thought I had my financial life in good order. I was wrong! The more I search for ways to improve my finances, the more opportunities I find. Over the past few months, I’ve found a number of new ways to earn or save some money. One of my motivations to start this blog was to create an easy way to share these opportunities with family, friends and others seeking to optimize their finances.
This article is the first in a series of posts about the actions I have taken to save or earn more money. Please remember, these articles are being written from the perspective of one person. You should consider your own personal financial situation and discuss with your professional advisors before replicating anything described below.
One of the most common and hardest personal finance decisions people have to make involves the tradeoff between time and money. This post discusses the largest time vs. money decision my wife and I have had to make to date.
Continue reading “Time or Money?”
Personal finance is, personal. This is a phrase you will see me type many times. In many cases, a financial move that is right for one person may not be right for another. Some people start their own business while others prefer to work for a business. Some people drive a shiny new SUV while others choose a 10+ year old sedan. Some like to invest in stocks while others prefer mutual funds or real estate. These different choices and many more could all be part of a Winning Personal Finance plan. Continue reading “My $121K Mistake”
Some mornings, before heading into the office, my son looks at me with a sad face and asks:
Mini WPF: Daddy, do you have to go to work today?
Mini WPF: Why?
Me: I go, so that I can pay for our house and food.
Mini WPF: And toys?
Me: Yes, and toys.
Continue reading “How do you define winning?”
Hi. Thanks for visiting! I’m an extremely private person. I don’t use social media. Until now, I’ve never written anything I did not have to. Somehow, I decided it was a good idea to start a blog! How did I get here?
Continue reading “Hello and Welcome”