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Diversify Your Investments for Maximum Payout

There’s more to investing than just the stock market. In fact, diversifying your interests is the best policy to help combat market volatility! 

Here are three other markets you should look into:

  1. Real Estate

Investing in real estate is one of your safest bets. Properties offer a great long-term security option. Plus, there are multiple ways to invest. The most commonly known is just buying a property, whether you’ll keep it as a vacation home, rent it, or flip the fixer upper. But there are other options, too.

Don’t want to deal with property management? No problem! You can invest in REITs, or Real Estate Investment Trusts. It’s easy, you can still earn passive income from dividends, and you don’t have to worry about maintenance or managing renters.

  1. Gold and Silver 

Like all investments, gold and silver do carry some risks. But their market fluctuations tend to be spread out over years, rather than changing overnight. And typically,...

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Steps to Get Comfortable with Market Fluctuations

One of the most common reasons people give as an excuse to not invest is fear of market fluctuations. And that is a valid fear. No one wants to lose money. But, as Greek philosopher Heraclitus once said, “The only constant is change.” 

It’s the same with investments. While “market volatility” sounds intimidating, it really just means the market can move up and down, so don’t get caught up in the crazy up- and down-swings! Historically, everytime the market goes down it’s followed by an upswing.

So here are some steps you can follow when the numbers start to seem scary: 

  • Take a deep breath.
    The first step to battle fear is to combat it with knowledge, and you already have that part down! You know that the market will go up and down, so when you hear something that makes you anxious, try to ground yourself with some deep breathing, take a walk outside, and make your favorite snack or comfort food.
  • Hit ‘Pause’ on emotional...
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Stop the Drama Before it Starts: Tips for Financial Discussions in Relationships

Uncategorized Sep 07, 2022

For a long time, it was considered taboo to talk about money while dating or in relationships. But did you know that arguments about money are the second-leading cause of divorce, only behind cheating? And since it’s been estimated of marriages start in debt… There are more than a few opportunities for fights.

Whether you are in a committed relationship, or just want to avoid struggles later on, it’s crucial you don’t avoid talking about finances. Ignoring the issue just gives it time to grow, after all. And the longer it festers, the bigger issues it can cause in not just your relationships, but your overall quality of life. 

Find Strength Through Discomfort

The best way to solve this issue is to be open and up front. While money should be your lowest priority in finding the person you want to be with, you shouldn’t put off talking about finances. Since it can be uncomfortable and stressful to have these kinds of discussions, take a deep breath...

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Making Smart Decisions Now to Save Money

It’s not a big secret that most entry level jobs, like the ones you get as a student or recent graduate, don’t pay well. And if you’re just starting out, you probably have more bills than you’re used to, things like rent, tuition or student loans. Plus food, gas, and all the extra things like dates and nights spent out with friends, the newest gadgets and trends… The list goes on.

And it can be really difficult to balance all of this — especially when you don’t make very much money. But being responsible with the little cash you do have can save yourself the pain of being buried in debt. Because it’s a lot easier to prevent overspending than to get out from under it.

Find Balance

The little things you do can add up to big savings. Budgets can sound intimidating and restrictive. That’s why we prefer “spending plan”, because really it’s like a checklist for your paycheck. Spending plans are really a way for you...

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My Kid Got a Job. Now What? Three Financial Tips for Parents

Whether its the local ice cream shop or a popular retail store, a first job is an exciting experience that brings with it new kinds of responsibility and freedom. It is also the perfect opportunity to start teaching yout child about managing money, regardless as to what their paychek may look like or what their expenses are (if they have any). 

We’ve put together three financial tips to teach your child about to get them to start thinking about their money and how they manager it. The younger they learn about financial responsibility and money management, the smarter they’ll be when it comes to more serious financial decisions down the line. 

Open a bank account 

Most banks offer great incentives to teens when they open their first bank account. Some banks will offer a bonus for opening a checking account and most banks waive monthly maintenance fees and don’t require a deposit minimum. 

After opening a bank account, see if your child’s...

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The Difference Between ETFs and Mutual Funds

To reach financial freedom, a common hurdle is understanding financial and investing terminology. The language is odd and the concepts complex, making people doubt their abilities. In reality, this challenge is a manageable one; and with help from Young Money University, it can be a hurdle you can step over with ease!

To get started, we’ll cover two important terms to understand related to investing: Exchange-traded funds (ETFs) and mutual funds. Both are forms of pooled investing, giving investors the opportunity to build a diversified investing portfolio. As a result, both types of funds will have a large number of assets within their specific fund. 

We’ll provide you with more in-depth definitions and key attributes of each kind of fund and highlight their key difference, providing you with the information necessary to determine which is best for you and your investment goals. 

Exchange-traded funds (ETFs) 

An exchange-traded fund is a type of pooled...

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Three Tips for Parents Getting Their Kids Financially Ready for College

Uncategorized Jun 12, 2022

Sending a child off to college is a major step for both the student and the parent. Suitcases, bedsheets, and notebooks all need to be bought and packed. But they’re not the only things your college-bound young adult needs… For the first time in their lives, they’re about to be solely responsible for their own financial success.

They’ll need as much financial guidance and advice as they will bedsheets and notebooks…

To make sure you set them up for both academic and financial success, follow these three tips:

 

Instill the habit of spending less than you make

3 - 4 = -1. Most people know this. If you lose more than you have, it’s worse than if you just lose everything. Why? Because now you’re in debt. 

It’s common sense, so you’d think most people would spend less than they make. But, in reality, very few do. Every month, people earn their paychecks and spend it all plus a little extra. Now, every now and then, this...

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Three Financial Concepts Young Adults Need to Know Before Leaving the Nest

Uncategorized Jun 10, 2022

Financial mistakes made early in life can dramatically change the face of a person’s life. If young adults aren’t properly equipped to handle their finances, the likelihood of significant financial error increases. 

As young adults begin to grow into themselves, they set the rhythm and tone for the rest of their lives. Will they be responsible? Will they take healthy risks? Can they make wise financial decisions? These are all questions parents can help answer before their young adult leaves the nest. 

Most of the financial mistakes that are made immediately after high school come not from recklessness, but from ignorance. They don’t know how to handle money right because no one taught them how. 

Here are three things young adults need to know about money before leaving home: 

Teach them to save differently 

People all over the world have the wrong idea about saving money. They conflate it with limiting lifestyles, unpopularity, and boring...

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How to Create a Customized Personal Cash Flow Management System

Uncategorized Jun 08, 2022

It’s the end of the month: Do you know where your money is?  If your answer is no, then you probably need to create a personal cash flow management system. Meaning, a system that effectively manages what you do with your money each month.  I’m not just talking about having a spending plan, but a plan for actually managing how you use the cash that comes in the door each month.

Sounds glamorous, right? While we’re not talking about your next Caribbean vacation, we are talking about living the life you want. A highly effective cash flow management system is the most foundational, yet overlooked part of your financial life. It ensures that your spending is aligned with your present-day priorities and future goals—all while using the least amount of mental space every month.

Start by asking yourself if you have some kind of system already in place. Maybe you’re managing your money without even realizing it. If this is not the case, you may just be...

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3 Secrets to Managing Your Money in College

Uncategorized Jun 06, 2022

When you are in college, away from home, balancing that bank account can suddenly feel monstrous and overwhelming. If you are not careful, you can lose control over your finances very quickly. Managing your money in college requires a certain amount of skill and willpower but you can do it with these proven tips.

Set Up A Checking Account

Many banks offer students free checking and saving accounts facilities, which help students save on withdrawal or fund transfer fees. Find out which banks offer this facility to college students and preferably set up a checking account with a bank that has convenient ATMs located in close proximity to the college campus to save on out-of-network charges.

Control Your Spending Habits

Are you an impulse shopper? If you are, you will have to change your spending habits and learn to exercise restraint. Start by learning to distinguish between your needs and wants. That expensive software that you had not accounted for in your budget may be necessary...

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Avoid these classic money mistakes in your 20s!