The decorations, the shopping mall and, of course, all those screaming retail deals mean it is time for consumers to start their holiday shopping. One of the few good things about a sluggish economy at holiday time is that it underscores the need to consider what's really essential. It's not just about being frugal; it's about being smart with our money. Setting financial priorities early is the best way to keep the year's biggest spending season worry-free and most important, debt-free. Here are some suggestions that can help you stay in line with your spending goals during the holidays and position yourself for a financially healthy and happy New Year. Revisit your gift policy: … [Read more...]
Money “Wasters”
money waster's Nearly everyone has holes in their budgets... And as with other kinds of leaks, you may have hardly noticed some of them. But those small drips can quickly add up to big bucks. The trick is to find the leaks and stop them so you can keep more money in your pocket. Here are a few to think about. Overspending on Auto Maintenance...Are you still paying for an oil change every 3,000 miles? Many models nowadays can last 5,000 to 7,000 miles between changes, and some even have built-in sensors to tell you when it's time to change the oil. Check your owner's manual to find the best time for your car's routine maintenance. Not Pulling the Plug on Electronics...U.S. … [Read more...]
How Do You Know When It’s Time to Sell?
how do you know when it's time to sellIn April, Vermillion Financial Advisors review their clients' investment portfolios and their financial objectives. To supplement this work, VFA has chosen to provide you, our readers, with an article to provide more insight into your investments. Most investors have a process for purchasing an investment. It usually involves performing research, comparing similar investments or investment types, and considering a number of more personal factors, including time horizon, risk tolerance and goals. Few investors, however, have a tried-and-true process for selling an investment. Yet knowing when to sell can be every bit as important as knowing what to … [Read more...]
Bad Choices Get Rewarded
It can be really hard to behave correctly if we see examples of people being successful while doing things we know have higher odds of a bad outcome (e.g., buying lottery tickets). But as you’ve probably learned by now, investing isn’t always fair. Bad choices get rewarded, while people who made prudent decisions sometimes appear to be punished—at least in the short run. So even though it’s tempting, I strongly encourage you to judge the investment advice you receive based on the validity of the principle (process) and not the outcome. Let me share a story about a friend who had stock in his grandmother’s mining company. Over time, the family had invested and lost millions trying to … [Read more...]
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