Should I Climb The Corporate Ladder Or Start My Own Business?

When it comes to accumulating wealth, there are 3 main ways to go about it.

  • One, you can work for someone else, get paid a salary and try to save some money with every paycheck;
  • Two, you can make your money work for itself by investing it wisely;
  • And three, you can start your own business and become your own boss.

The 3 choices above are not all equally effective.  In fact, I would say that investing your money wisely and starting your own business are the only truly scalable ways to make money.

First off, what do I mean by scalable?

Let’s take your day job as an example.  If you work for someone else, chances are you are either paid by the hour or paid a fixed salary.  As a result, since there are only 24 hours in a day, there’s is only a finite amount of money that you can possibly make in a given year.

Sure, you might get a small raise from year to year, but in reality you will never be able to make “life changing” money with just your day job.

Now I’m not saying that having a day job is bad.

After all, having a steady salary is an excellent way to make ends meet and pay the bills.  But the best way to expand your pool of wealth is by starting your own business and investing the money that you do accumulate.

The Trap Of Working For Someone Else

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Contemplating Marriage? Love Is Not All You Need

Close up of young couple fighting

The Beatles famously sang, “All you need is love, love, love, love is all you need.”

So many of us buy into this simplistic belief and think that love conquers all.

Many of us rush into marriage and ignore the red flags that are before us, thinking problems will work themselves out after we are married.  The sad truth is that marriage often serves to amplify problems, not solve them.

Kathy Chu of USA Today puts it perfectly when she states,

“If love is the tie that binds couples together, money is often the wrench that pries them apart.”

Maybe in the past arguments about money in marriage could be blamed on societal pressures for people to marry early and for the expectation of the wife to quietly allow her husband to make the financial decisions, but those days are long gone in our society.

Now, women often make more than the men they marry.
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Is Your High Power Job Worth the Sacrifice?

Many students go to college and pursue known money-making degrees—engineering, computer science, and business among a few of them.

They may pursue these career tracks because they are truly interested in the field, or they may choose them because they want to be financially comfortable during their lifetimes and they know that a lowly English major, while pursuing her passion, will never be rich.  (Ask me how I know.)

Follow these individuals 20 years later when they have achieved a great deal of financial success, and you may find them less delighted with both their lives and their chosen career paths.

A High Power Corporate Job Isn’t All It Seems

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Don’t Underestimate the Cost of Living When Deciding Where to Live

I live in the suburbs of Chicago, and recently, after 11 years in the same apartment building, my husband and I re-entered the renter’s market.

When we first began renting at our last apartment, the two bedroom apartment was a bit too big for us.  Three kids later, we were bursting at the seams.

However, we were shocked to see that 3 bedroom apartments in our location rent for $1,300 to $1,800 a month.  Houses can rent for as much as $2,500 to $2,800 a month.

Houses Are Often Out of Reach

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Alternatives to Joining the Gym

dumbells_gym

Every new year, people resolve to lose weight and get in shape.

One of the ways they often try to do this is to join the gym.

If you go to any gym around the country in January, you will notice that it is packed with well-intentioned people; however, come March, what does that same gym look like?

Suddenly it is much easier to use the equipment because there are fewer people waiting in line.

Resolving to lose weight and/or get in shape is an excellent goal for the new year.

Not only will you feel better, but you could likely save your future self money by proactively taking care of your health and avoiding high medical costs in the future related to excess weight.

However, joining the gym and spending a great deal of money upfront is not necessary as there are many other, more frugal, ways to lose weight and get in shape.

Alternatives to Joining the Gym

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The Art of Getting Rid of Unwanted Gifts

Unfortunately, it happens almost every year — well meaning friends and relatives give you Holiday gifts that you have no need or desire for

Of course, when you open the presents, you pretend to be delighted with the gift, but secretly you may be wondering what to do with the additional clutter.  Unless you have a very open relationship with the gift giver, asking for a receipt to return the item is very difficult to do and not recommended.

Enter the Art of Getting Rid of Unwanted Gifts:

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10 Things Similar About Personal Finance And Running The NYC Marathon

NYC Marathon

It was a little over two years ago that I completed all 26.2 miles of the ING NYC Marathon.  This past weekend over 40,000 people ran the race.  Let me tell you running a marathon is an awesome experience!  There’s a lot of work and pain but it’s all worth it once it’s over.

Know what else is a lot of work and pain but well worth it?

Taking care of your personal finances! 

In fact there are a lot of similarities between running a marathon and personal finance.

Here are ten thoughts on personal finance and marathons:

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