8 Free Investing Apps You Should Try If You’re New To Investing & Broke Like Me

Stash. Robinhood. Betterment. Acorns. Fidelity Go. Wealthfront. Stockpile. WiseBanyan.

What apps should you try if you’re new to investing?

A few months ago, I stumbled upon a YouTube video about the ins and outs of investing, for beginners. In the video, the speaker was excited to report that he’d become an investor.

He’d invested just $25 dollars so far!

Wait, what?!

It hadn’t occurred to me until then how little I knew about investing. I didn’t realize you could start with so little.

How did you start?
Where did you need to go?
Did you have to physically “go” anywhere?
Did you need to have a financial planner first?

Everything I know about investing can fit easily onto a 3 X 5 index card. Which is to say, I don’t know very much.

I know that when you invest you should be mindful of all the associated fees. If you invest through a brokerage firm or through an app online, at the absolute least, you should make sure you can answer these questions:  Continue reading “8 Free Investing Apps You Should Try If You’re New To Investing & Broke Like Me”

5 Reasons Why You Shouldn’t Start A Blog To Make Money  

Don’t create a blog to make money. It’s inefficient.

When I started my first blog back in 2014, I wasn’t the least bit concerned about making money from it.

It was the perfect hobby and completely stress-free.

I published two posts the entire year.

Knowing what I know now about blogging, I wish I had treated it like a business sooner, despite everything I’ve learned about myself and the world since I first started blogging.

If you’re interested in creating passive income, participating in the gig economy, or just in search of greater part-time income—blogging isn’t the answer.  Continue reading “5 Reasons Why You Shouldn’t Start A Blog To Make Money  “

10 Decisions You Should Make Before You Create Your Own Tutoring Business

Should you start an LLC right now?

If you’re hoping to earn extra income on the side, whether to supplement your existing salary or to completely replace your full-time earnings, creating a tutoring business may be appealing.

On the surface, it seems incredibly easy to start!

You make a flyer.

Post it.

Voila!

If you build it, they will come.

If you’re thinking of turning your part-time passion project into a full-fledged entrepreneurial endeavor, make these 10 decisions first.

ONE: Will you require prospective students to attend an introductory consultation before any sessions start?

Will it be free, and what will you go over?  

As uncomfortable as it may be, you need to decide whether you’ll take on anyone who wants to work with you, or whether you’ll screen prospective students based on your pre-determined criteria.

Which students will most benefit from your skill-set and current level of expertise?

If you encounter a family with unrealistic expectations, will you still take them on as students?

Or will you let them know, upfront, that it won’t be a good fit?

I’ve tutored off-and-on, on a part-time basis for almost 20 years.

I’ve worked mostly for schools, small companies, friends and family, and Wyzant, but very rarely have I sought out students completely on my own.

When I’ve worked for companies, I haven’t always been able to meet the families first.

Learn their goals, expectations, and prior experiences. Develop common ground and build rapport.  Continue reading “10 Decisions You Should Make Before You Create Your Own Tutoring Business”

5 Essential Money Management Tips for Small Business Owners

A business owner is only as good as the people he or she surrounds him or herself with.

Today’s expertise comes from Connecticut’s own Arciuolo’s Shoes.

When you start your own small business, there are a million different worries that always seem to be at the forefront of your mind. Staffing, building a consumer base, and establishing a brand are all essential elements to creating an effective business, but there’s one element that towers above the rest: money management.

Whether you’re an emerging entrepreneur or a longtime small business owner, properly managing your finances is arguably the most important factor in determining how successful you will  be.

Poor money management can capsize even the most established organizations. As a small business owner, I’ve spent years building my company and learning from my financial successes and, perhaps more importantly, my failures.  Continue reading “5 Essential Money Management Tips for Small Business Owners”

How Do You Feel About Money?

Is it right to want to be rich?

Since I started this blog a few weeks ago, I’ve been asking friends and family to share their perspectives on wealth, personal finance, and money. When you were younger, what did you learn about money?

How do you feel about money?

Like most broke people, I hate money. From a historical standpoint, money was basically just made up.

What were you taught about wealth and money when you were younger?

Nothing: Go to school. Get a good job.

What do you wish you knew about money when you were younger?

I wish there was more emphasis on saving money. I don’t know if I would’ve ever listened. There are certain concepts I wish I knew earlier because a lot of things are time-based. I wish had learned better business sense too.  Continue reading “How Do You Feel About Money?”

5 Reasons Not to Cosign on a Loan

Know all the risks, first.

I only see my brother twice a year if I’m lucky, but he’s one of the most important people in my life.

I taught him how to read.

He introduced me to Agatha Christie and anime.

When I turned 30, he flew more than 1,200 miles to celebrate with me.

When it took him longer than expected, I encouraged him to finish college.

We’ve traveled to more than 5 different cities together.

A few years ago, he even changed his hairstyle to match mine!

I’m just kidding.

That would be weird.  Continue reading “5 Reasons Not to Cosign on a Loan”

8 Basic Questions About Trading & Investing

What questions do you have? What expertise can you share?

I don’t know very much about personal finance except for the mistakes I’ve made. Blogging about it has forced me to learn more and to understand more.

I recently asked a friend of mine to give me his two cents on trading and investing.

What questions do you have? What expertise can you share?

1. Are there certain basics you think people should know before they even start investing or trading? 

Yes. I think they should know certain concepts like the differences between a growth and value investor. They should know how to place a call order for stocks and how to automate it. They should know how to read a stock chart and what the numbers mean. Those are just a few things that come to mind.

[See also: Stock Market Basics: What Beginner Investors Should Know]
[See also: Stock Trading: How to Begin, How to SurviveContinue reading “8 Basic Questions About Trading & Investing”

How Do You Feel About Being Rich?

How much is too much?

Since I started this blog a few weeks ago, I’ve been asking friends and family to share their perspectives on wealth, personal finance, and money. When you were younger, what did you learn about what it meant to be rich or poor?

How do you feel about money?

It’s just a thing that’s needed to live within the current society. It’s neither evil nor good; it’s just a tool, and people use it for their own devices.

Should billionaires (or millionaires) exist? Is it right to aspire to be a billionaire (i.e. rich)?

I don’t see any moral or ethical issues with billionaires/millionaires existing because they are not all inherently bad or good. It’s their actions that reflect who they are as people. We have people like Bill Gates who donate a lot of money to many good causes, and then we have people like Trump who are just in it for the money/power.

We can’t even blame it on our capitalistic society because even economically socialist countries like Sweden have Ikea and Spotify, whose leaders make millions of dollars. That said though, there shouldn’t be preferable treatment towards these individuals, but there is, and we have to change that norm.

I think the proper idea to have is to be financially free.  Continue reading “How Do You Feel About Being Rich?”

Should You Use Personal Loans To Pay Off Credit Card Debt?

It depends, but do you have a better option?

What’s the best way to eliminate credit card debt?

I recently used Lending Club to secure a small personal loan to pay off some debt. I purposely made this decision because the interest rate I received (10.99%) was significantly less than the interest rate of my original debt (24.74%).

Although the decision was intentional, I admit I could have done more research upfront to compare rates, review lenders, and confirm there was no other, more viable, option.

No regretsContinue reading “Should You Use Personal Loans To Pay Off Credit Card Debt?”