Welcome To Money Smart Guides!

Overwhelmed by debt? Want to make investing a breeze? The goal of this site is to help you get out of debt and start investing for your future. If you are unsure where to start, click here to begin. I will break everything down for you in small, obtainable steps so that you can take control of your finances once and for all.

Pay Off Debt or Invest?

pay off debt or investOn any given day, you can visit a random personal finance blog and I bet you will find this very question: should I pay off debt or invest in the market? The standard answer that you will find 99% of the time is if your debt is costing you more than you can earn in the market, then yes you should pay off debt.

For example, let’s say you have a credit card that has an 18% interest rate. Given that 8% is a very conservative long-term return assumption for the stock market, you can see that paying off debt makes sense here. After all, why invest to earn $0.08 per dollar when you are paying $0.18 per dollar on your debt? You would be losing $0.10 per dollar if you followed this logic!

But when we move our attention to lower interest rate debt as well as debt that can be deducted on your taxes, the story becomes a bit more confusing. [Read the full article]

The Advantages and Disadvantages of Stock Options eTrading

binary options

There’s no doubt that stock options eTrading is a fun and profitable approach to investing. Still, if you’re new to it, you’re probably concerned about the advantages and disadvantages involved. Let’s take a look at these now. Excitement This probably isn’t the most important advantage to list, but it’s worth mentioning that stock options eTrading is a lot of fun. Unlike other types of trading, you can log on, place a trade and see the results within minutes. … [Read the full article]

Who Can Help With Your Debt

Happy Wednesday!! Please welcome Tahnya, who will be sharing stories with us every other Wednesday. She got herself into debt trouble and dug herself out – all while being a financial planner. Learn from her debt experience so that you don’t repeat the same mistakes she did. Be sure also to check out her site, Tahyna Kristina.If you've ever sat at your computer screen looking at your bank account balances thinking "How did I let it get so out of control" or if you've ever gone to the bank and had to decide whether to pay your electric or cable bill while waiting in … [Read the full article]

Cutting Monthly Expenses: Save A Ton Of Money Each Month

monthly expenses

If you are like many Americans, you are struggling to get a handle on your monthly expenses. Many of you might even be living paycheck to paycheck. I’ve talked before about if you want to become wealthy, you need to focus on both sides of the wealth equation. Today, I am going to focus on the savings side of this equation. More specifically, I am going to talk about how to cut monthly expenses from your budget so that you can save a ton of money each month.In order to cut our monthly expenses the most, we are going to take a top down approach to cutting our monthly … [Read the full article]

End of June 2015 Update

beach chairs

Well it is officially summer and July 4th has come and gone. Most people now are looking forward to summer vacations (if you haven’t taken one yet) and eventually Labor Day. But for now, let’s just focus on enjoying the nice weather!A lot has happened since I posted my last update the end of April. So much so that I going to get right into things and not keep you waiting! Personal Updates MoneyMy wife and I are in the home stretch with combining all of our accounts. There were some stragglers out there that needed to be taken care of and most of this is done. … [Read the full article]

Money And Freedom

money and freedom

When I was younger, I wanted everything that money could buy. When I dreamt of what my future adult life looked like, it included a mansion. But not just any mansion, my mansion would have:An indoor AND an outdoor basketball court A go-kart track An indoor pool An outdoor pool and hot tub (the pool would have a tall stone wall on one side with small caves that would lead to a hidden hot tub) A heated 5+ car garage A movie theater A gym A secret room (think of Scooby-Doo turning the wall sconce to open a secret passage in the fireplace)Of course, … [Read the full article]

The Power Of Dividend Income

3 Stock Dividends

Would you be interested in getting paid to invest in the stock market? Who wouldn’t? While it might sound far-fetched or even a scam, the reality is that you can get paid to invest in the stock market. In fact, you are probably getting paid and don’t even realize it. The way you get paid to invest is through earning dividends and this post is going to show you all you need to know about the power of dividend income. What Is A Dividend? In order to show you the power of dividend income, we first have to make sure that we all understand what a dividend is. A dividend … [Read the full article]

Financial News Updates

financial news

There are a ton of new features, products and services all of the time in the personal finance world. I decided to take today to highlight some of the things that I find really cool and interesting in hopes that some of you can apply some (or all) of them to your financial lives to help you reach your goals.I have no idea how frequently I will post updates like this, as it all depends on how often new things come along that catch my attention. So with that said, let’s dive in! Personal Capital Retirement Planner It was just the other week that I posted about … [Read the full article]

Top Money Management Tips For Small Business Owners

Starting the business of your dreams is a great achievement. It takes an immense amount of work, dedication, money and time just to open your doors to the public. To keep the momentum running, you need to avoid the common pitfalls that often lead to an early “going out of business.” Here is professional advice help you stay in business. Know Basic Accounting You may be the finest hairdresser, the most charming wedding planner, the wittiest writer, or the most talented barber, but if you don’t know the basics of accounting, or don’t actively participate in the cash … [Read the full article]

3 Signs You Need Help With Debt

too much debt

Happy Wednesday!! Please welcome Tahnya, who will be sharing stories with us every other Wednesday. She got herself into debt trouble and dug herself out – all while being a financial planner. Learn from her debt experience so that you don’t repeat the same mistakes she did. Be sure also to check out her site, Tahyna Kristina.How do you know you've hit rock bottom when it comes to your money? Of course this situation is different for everyone, but we need to look for the basic warning signs so we can spot the trouble as early as possible. Only then can we make … [Read the full article]