No parent is perfect. Even I admit making some of these mistakes when teaching my daughter about money. Here are 9 mistakes that parents make when teaching their children about finance. 1. Keeping Quiet The biggest financial mistake a parent can make is not teaching their children about money at all. If you want to give your children the tools to understand the concepts of money and grow their savings, you need to have frequent conversations with them. One way…
So you just turned 18. Now what? As an 18 year old, you are now officially an adult by law. You can rent a car, open a new bank account, invest, and so much more. You will also need to memorize your social security number as you will need it for almost every financial-related application. Unfortunately high school curriculums don't prepare students on the topics of personal finance and paying taxes. My aim with this post is to help introduce…
Student Loan Debt is a problem throughout the United States. Millions of students use their student loans to pay for housing, food, tuition, books, parking, and transportation without realizing the impact their financial decisions will have on their entire lives. Here are 16 ways you can avoid or significantly reduce student loan debt. BEFORE YOU START COLLEGE 1. Save for College with a 529 Account Hopefully your parents opened and regularly funded a 529 Education Account for you. If not,…
After I sold my Porsche Boxster, I wanted to replace it with a 2013 Mazda MX-5 Club. However I did not have the money as I spent all of my Porsche money on paying off student loans. Instead, I bought a 2012 Mazda Mazda2 (Yes the U.S. model name is Mazda2) manual transmission with only 32,000 miles for $9,600 out the door. That included taxes, registration and inspection fees. After 5 years and 66,000 miles, I sold the car for…
Prior to becoming a Door Dash driver, I was a pizza delivery driver for Domino's Pizza. Working with Domino's Pizza, I learned so many tricks to making more deliveries, earning more tips, and making my deliveries more efficient. Combining what I learned with Door Dash, I came up with a solid strategy that earned me an average of $21/hr with some days earning as high as $45/hr. The following are my top 10 Dasher hacks. Schedule your Dash ahead of…
When I was 15 years old, one of my favorite cars was a 1996 Volkswagen GTI VR6. I wanted that car to be my first car so badly as they were going for $5000 at the time. My parents could not afford to buy me one and instead gave me a 1996 Mazda Protege for 1/4th the price. It wasn't until I was 21 years old that I saved enough for money for my own first car. My top three…
With rising tuition costs, more and more people are finding it difficult to afford an education, especially for those in the low and middle class. Every year, the number of people who skip college is increasing. Those who don't get scholarships and attend private school are ending up with a 10-30 year student loan payment term that rivals a mortgage payment. Luckily, each state offers a 529 triple-tax advantaged education savings account. The money you contribute to a 529 is…
Growing up in the 90's, TV's are were more expensive, Youtube didn't exist, social media didn't exist, apps didn't exist, it took 5 minutes to load a webpage and up to 24 hours to download 1 song on Napster, Nokia was the most popular phone, texting was a rarely used feature as smart phones did not exist, and children went outside to play with their friends. With a room full of toys, all my 4 year old daughter wants to…
Yes I know there is a recall on these Harbor Freight Jack Stands. If you are a fan of Top Gear, you may have watched the cheap Porsche challenge where they buy 3 Porsche's for under $5k. While buying a Porsche under $5k is probably not a smart idea, a $10k Porsche isn't that bad. Keep in mind that I have done 90% of the work myself. If you are not hands on, add labor costs on top of everything.…
When I was 16, the 2006 Porsche Cayman S was just revealed. It instantly became my ultimate dream car. From the moment I received my driver's license, I told all of my friends and family that the first car I will buy will be a Porsche. I worked several part time jobs, starting with JiffyLube earning $7.50 per hour, then later Autostrada, a specialty and collector car dealership. After being laid off due to poor sales, (the company went under…
