This page consists of blog posts that discuss the topics of saving money, budgeting, earning more interest, and paying less interest. You will find information on banking, borrowing, budgeting, and creative ideas on saving.
In 2020 I heard about the $1000 challenge between the online Finance community. It is a 1-year challenge where you invest $1000 in any way you want to see who makes the most money. Since the $1000 challenge has been around for a while, no one has done this challenge in recent times. I thought it would be an interesting experiment to try during the Pandemic. Because I run a personal finance blog, I decided to expand my experiment. I…
Around Christmas of 2020, I decided to start my own personal finance blog Finance Throttle. My objective with this blog was to help people accelerate their net worth and learn more about personal finance along the way. Within a week, I created the blog and website through a Bluehost referral link and published the site on December 31st, 2020 for a January 1st, 2021 reveal. I started off publishing a new blog post EVERY DAY. This wasn’t easy since I had a full…
The majority of American's do not invest or save enough money for retirement. They depend on social security checks to get by. But who funds social security and what happens if we run out of money? Social Security checks are funded by the previous generation. That means the social security money coming out of your paycheck each month is paying for America's current retirees. As long as there are more working people than retirees, the concept works. COVID-19, declining birth…
It’s hard to believe that most credit card holders are not educated in the benefits they could receive with their cards. You can get points towards free travel, hotel stays, and food. You can get up to 15% cash back if you shop online through your credit card company’s app. You can get premium lounge services in airports. You can earn cash back on rotating categories or everyday purchases. Some cards even come with free insurances, discounts with partnering brands,…
According to ipropertymanagement.com, 36% of American's households rent their homes. Approximately 41% of renters spend more than 35% of their income on rent and most renters are under 45 years old with a college degree. When asked, 1 out of 5 millennials say they feel they will never be able to afford a home. It is often argued that renting is a waste of money. You cannot sell your asset (home) to get your money back. On the other hand,…
Most people don't play the credit card game, meaning they may use cash or a debit card as their primary method of payment. Some of these people may have a credit card that they rarely use just for emergencies. In this post, I will be discussing the six types of credit card users. Type 1: Passive Users These credit card users don't know much about their own credit cards. They do not actively compare or shop for new credit cards…
Yotta is a popular lottery-based savings company whose angel investor's include personal finance YouTube star Graham Stephen. For every $25 you deposit, you are rewarded with a permanent lottery ticket that you can use each week for a chance to win $10 million, a Tesla, or lesser cash prizes. I wrote all about it in my blog post "Save for a chance to win up to $10 million each week". Since I published that blog post, much has changed making…
Many American's blame their income for their inability to save. If you have already tried to save money by spending less and budgeting, try these easy ways to make a little extra income. Work Part-Time. Sign up for one of over 100 different gig economy apps and work part-time, on your own time. Drive people around with Uber. Drive food around with DoorDash. Shop for and delivery groceries with InstaCart. Write papers on Fiver.Rent out a bedroom and get a…
If you are new to my blog, I have an entire category of blog posts on the topic of debt reduction strategies. My favorite strategy is velocity banking and I discuss how I am using velocity banking to pay off my mortgage in less than 7 years. The Debt Snowball Method is a very popular debt reduction strategy popularized by the finance guru himself, Dave Ramsey. Similar to how a snowball grows larger as it rolls down a hill, the…
In 2008 I was a freshman in college and I had just gotten my second credit card. It was a Chase Slate. It came with no benefits but had a pretty high credit limit for someone who was making $7.50 an hour at the time. Shortly after college, I upgraded to the Capital One Quicksilver Card earning me 1.5% cash back on all purchases. I had no reason to use my Chase Slate card anymore but I kept it just…
