The importance of savings is the first lesson for anyone on the path to financial independence. Whether you currently like the idea of saving a fixed amount of your paycheck or not, it’s time to learn to love it. The reason is simple: you will not amass a large fortune without starting with a small […]
finance basics
What to Do with a Cash Windfall
Everyone hopes to encounter some sort of cash windfall in their lifetime. Whether it is an inheritance, the sale of a business, a bonus at work, winning the lottery or the happenstance of stumbling upon a briefcase of cash, it is important to know what to do with such a windfall. Most people wonder about […]
Moving Up Tax Brackets: The Lie
Here’s one of the most common financial fallacies that has somehow slithered its way into water cooler chats unsurprisingly pertains to taxes: The Lie: When you get a raise, and move into a higher tax bracket, you make less because you are paying more in taxes. The first time I heard this, I figured it […]
Great List of Finance Books
It never fails. Every semester I am asked by at least one of my finance students where they can learn more about finance. Music to a finance professor’s ears. Most students have a topic in mind, but some just crave more general finance knowledge. In the past, I welcomed these requests and recommended books on […]
What not to do with your tax refund
I ran into an all too common situation this week. I stopped by a friend’s house, and as I pulled in the driveway, I noticed boxes and old furniture by the curb. As I walked up to the door, he exited, carrying a dresser. I found it odd that he never mentioned he was moving, […]