I continue to be blown away by AI’s ability to answer almost any question I ask it so I decided to start asking some personal finance questions and one of the ones I asked was what are the best financial advice tips for people and below is the response (everything in italics). Live Within Your…
Category: Money Management
It Feels Like 2007 All Over Again
The stock market has been having fits, housing is not affordable for most people, the central bank is rising interest rates to the point that mortgage rates are now hovering around 7.5 percent. To make matters worse, the Federal Reserve (America’s Central Bank) said at their last September meeting that rates would be held higher…
Cancel Costco, Use Instacart
One of the few places I enjoyed shopping retail was at Costco. I use the word enjoyed in the past tense because I canceled my Costco Executive Membership and I doubt I will ever go back to renew. Let me tell you why… The Good Let’s cover what I liked about Costco. First, the store…
How To Prepare For A Recession
Is your spidey sense tingling? I don’t know about you buy my spidey sense is tingling and when that happens it means an economic recession is coming so how prepare for one? Loss of Job The worst thing that typically happens during a recession is people lose their job. In 2008, when the financial crisis…
When You Change Jobs, Move Your HSA Account
When most people change jobs they know to take their 401k with them to their new company or roll over that money into an IRA. Whenever I’ve changed jobs I usually roll my 401k money into an IRA that has been accumulating all my 401ks over the years. Recently I left a job where I…
Cash Is King!
Forget bank Certificate of Deposits and forget about leaving your money in a checking or savings account. Everyone I know and their dog is buying US Bonds right now and with juicy yields of 5.38 percent for 1 month T-Bill to 5.36 percent for 1 year T-Bill but the going rate for 2 year Notes…
Will Zelle Kill Credit Cards?
I love credit cards and I don’t ever carry a balance. I have 0% balance transfer credit cards in which I take the credit card banks money at zero percent and invest it in high yielding CDs or bonds making 5% or more. I have airline credit cards that rack up miles so I can…
Personal Finance and Cash Management 101
Cash Management is the process of collecting and managing cash flows. Most people’s primary cash flow comes from their paycheck and for many the process is largely automated. Typically your employer pays you weekly, bi-weekly or perhaps monthly. Your employer produces a ledger that notes hours worked, deductions for taxes, insurance or other items and…