Don’t Drive to Impress: Invest!

By in Links, Personal Finance, Saving, Tips | 3 comments

Savings Tip: Drive a Clunker to Save Thousands (& Barbara Recommends)

savings tip-drive a clunker

I’ve entered my share of contests, and I’ve never won! But, maybe this time will be different.

The contest? A 1 minute savings video.

How is it scored? It’s scored by number of views.

Why Enter a Saving Tip Contest?

I offered my daughter a part of the cash prize if I win, in exchange for editing the video. I must admit, she did a hilarious job. She even made me look much better on screen than I do in real life.

If you want a laugh, and a 1 minute savings tip, check out Go Banking Rates Savings Videos. 

Save Money -Drive A Clunker is mine.

Here are the main points:

You could save thousands of dollars every year driving a clunker. And over time, that can build up to tens of thousands of dollars — and even more! Who knew?

Don’t drive to impress. Invest.

Other Personal Finance and Investing Reading & Listening; Barbara Recommends

Is a Robo Adviser Right For You?

Jack Waymire, of Paladin Research and Registry writes about the newest invention in money management, the robo adviser. In short they are online investment managers who create portfolios using complex mathematical algorithms. Many of these Robo Investment Advisory companies are located in Silicon Valley, my neck of the woods. 

Jemstep and Personal Capital are two that I respect and am familiar with. This article is a great introduction to a low cost and efficient way to manage your investments.

Your Subconsious is Stealing All of Your Money. Here’s How to Get it Back.

Kyle at Penny Hoarder and Go Banking Rates jointly released a new survey from GOBankingRates and unearthed a startling statistic: 73 percent of Americans have under $1,000 saved for an emergency — or don’t have a savings account at all. Read about how to buck this startling statistic!

100 Words on the Importance of a Balance Portfolio

Len Penzo continues with his 100 word series. He says almost everything you need to know about investing, with elegant brevity.

James Altucher Podcast #23- How to Go from Nothing to $40,000 per Month Writing From Home

This interview with SJ Scott, book writing machine, had me glued to my chair for the entire hour. Not only is Altucher a genuine and natural interviewer, dropping in tidbits of his own experience. And Scott,was the perfect guest, both accomplished and self depricating-a rare combination.

Scott was quick to explain that the $40,000 per month was not a regular occurrence and $40,000 per quarter was more likely. Either way, it’s not bad.

As I’m launching a podcast soon, I found an inspiring and motivating listen.  

Stacking Benjamin’s Podcast

I couldn’t choose just one, so I’m sending you to the podcast home page. In spite of the fact that I’m a frequent guest, each episode both informs and entertains……..or maybe it should be; entertains and informs. Joe Saul-Sehy is a natural entertainer.

10 Questions to Ask Before Investing in a Sector

My recent U.S. News & World Report article drills down into sector investing nitty-gritty. Have you considered investing in a particular sector?

Maybe you believe technology is a good bet, but don’t want to invest in only one technology stock, such as Intel, Apple, Microsoft or Facebook. Sector investing eliminates the decision of which stock within a sector you should invest in.

 9 Points About Money You Won’t Hear From Your Financial Advisor

Maria Nedeva of the Money Principle hits it out of the park with this one. 

In point #2 she alleges that; most decisions you make about money are emotional.

She goes even further and argues that most decisions we make in our lives are based on one emotion: our strife for security.

This is why many of us pay off debt, pay off the mortgage and keep their money in savings accounts at below 1% interest.

4 Simple Rules for Juicing Your Retirement Fund

Walter Updegrave, the well regarded financial journalist dives into the retirement advice pool with his Real Deal Retirement Blog. You don’t want to miss this smart retirement guidance; “With financial pundits incessantly speculating about where stock prices are headed or blathering about a seemingly endless stream of “revolutionary” new investment products, you could easily get the impression you need to constantly revamp your retirement portfolio. But guess what? You don’t. -“

Let Stress Motivate You to Improve Your Finances

Julie Rains of Working to Live Differently lays out the benefits of stress and money. Here’s an article which shows the “good side of stress”. Rains says, “So, if lack of savings bugs you, open a savings account. Fund the account with a regular contribution of, say, $25 or $100 monthly (ideally, set up a direct deposit from your paycheck).”

What do you think of the video? What do you drive?

    3 Comments

  1. “Don’t Drive to Impress: Invest!” – that caught my attention. As I was walking home in my modestly-priced neighborhood, I saw a nice blinged out 7 series BMW sitting in a neighbor’s driveway. I was thinking how the house they are renting could almost be purchased outright for the same cost as that car.

    Hey, if you’re ever looking for interviewees for your upcoming podcast, I’m game! I’ve done a few of them recently and it’s always been a blast.

    Justin @ Root of Good

    August 10, 2014

  2. Hi Justin, That is so fascinating that the car was close to the price of the house. Wow. The money choices of others continue to interest me. Although, I understand that others have their own values and preferences. (Even if I don’t agree with them :).

    BARBARA FRIEDBERG

    August 10, 2014

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