Scam Alert: The Fake Debt Collector

money gremlin

Real debt collectors are bad enough, but recently these guys have added a new scam to their repertoire: Collecting on fake debts. They call, sometimes outside the legal bounds… They threaten, often WAAAAY outside the legal limits… They know stuff about you - personal details - and threaten to make your life hell if you don’t pay them, NOW. These callers may be teeing off from legit collection agencies - certainly the tactics they use were probably developed during stints at real … [Read more...]

5 Simple Questions: Predict Who Gets Rich and Who Ends Up Poor

Did you save any money last year-

Fair or not, your financial future can be predicted by your current and past behaviors with money. According to research released recently by the Federal Reserve Bank of St. Louis, “five simple questions may predict personal financial health and wealth surprisingly well.” Looking at data from 1992 - 2013, researchers William Emmons and Bryan Noeth, found  a strong correlation between how the 38,385 participants scored on these questions and their net worth. 1. Did you save any money last … [Read more...]

Investment Advice from Buffett, “The Sage”

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Follow this advice and, you may not make the Forbes 100 list but, you are almost guaranteed to end up rich! Graphic thanks to: Best Finance Schools … [Read more...]

Experiments in Investing for 2015: Private Lending Pools with Lending Club

LendingClub logo landscape lrg

I’m committed to trying several new ways to make money investing in 2015. One way, new to me at least, is Lending Club. This is a way to make direct loans to individuals by pooling my money with hundreds of other investors - the industry term is Peer to Peer (p2p) lending. This allows me to diversify my private lending portfolio since I have a very small amount invested with any one loan. By small, I mean $25 - $50. Lending Club isn’t the only direct private lending vehicle but it is one … [Read more...]

Measuring What Matters – Your Net Worth

Increasing Net Worth

If you want to know if you’re truly financially successful, you must regularly calculate your net worth. It’s not the only number you need to know -   >> your investment ROI (return on investments) and   >> passive income as a percentage of your living expenses        are both important - but Net Worth is in the top three!   And, it often has nothing to do with perceived wealth. Most anyone with an above average income can borrow enough to fund a wealthy looking … [Read more...]

Sucker = Investor?

Banks pens trust quote

Some people never become investors because they’re afraid of being conned. The stories become the stuff of legends and, for the fearful, they define the financial landscape. My mother never quite trusted banks, she probably was indoctrinated with the fear as a child born near the end of the Great Depression. So, as she considered the end of her life, she decided to save a few thousand dollars to cover her funeral expenses. Instead of opening a bank account for her savings, she stashed the … [Read more...]

Is It Too Late? Money Lessons You Should of Learned in School but Didn’t

piggy bank graduate cap

Funny thing about Money Rules - you either learn them from teachers or learn them the hard way, by making mistakes. If you’d like to avoid the entire “Hard-Knocks University” program, put these financial lessons from the MoneyDiva to work. Start Investing Early and Keep at It So, you didn’t open an IRA or 401k when you got that first job? Better to start now than never! Yes, compounded interest and investment returns are what makes the average saver/investor wealthy (Einstein’s famous 8th … [Read more...]

Investing 101: Types of Investors and Traders

risk reward quadrent

Many new investors find the classifications or styles of investing confusing. When you first start studying about equity (and debt) investing, you’ll find many teachers and authors talk about styles of investments and investors. These classifications often vary by the school-of-thought the author subscribes to but let’s define some of the most common. First up, we have the Fundamentalist You might also hear this style called Buy and Hold (or Buy and Pray by some cynics). The name refers to … [Read more...]

Are You Sabotaging Your Financial Life?

money gremlin

... maybe not intentionally - you say you want to be wealthy, or at least secure… and yet, so many people’s daily choices about how they make, spend and save money lead to a financial dead-end. Are you doing any of these 5 things that pretty much guarantee you end up broke?     1. Overspend -      Either don’t budget or avoid delaying gratification by       going off budget 2. Acquire Too Much Long-term Debt -    Leverage up early in life or when income is waning 3. Don’t Make a … [Read more...]

Got Money? Know How it Works?

Economy-Heartbeat

Take a few minutes and improve your understanding of economic principles by watching this engaging video: Tell us what you think in the comments below... Live Long and Prosper, Leah the MoneyDiva.com … [Read more...]