Let me share a story with you:

My friend chose to sacrifice himself and stay behind for work reasons when his family immigrated to the States a few years ago. It was a difficult decision I’m sure, but one that was necessary (I’m told) due to financial constrains.

His son was 14 at the time but he was always upset. I remember one evening while we were over for dinner, he asked his mom out loud “Why can’t we be rich?”

That was then.

In a few short years, my friend’s son completely changed. He is now 17 and working part time at a local cafe. He told me that he realized how foolish it was to be upset. How blaming everyone else who was trying to keep the family close together did nothing to help the situation.

Instead of wasting his time being mad, he started thinking of ways he could change his situation. He started helping out around the house so his mom had more free time to find a part time job. When he was old enough, he started working part time as well.

The extra income helped his dad (my friend) come up with the courage to move here and look for a job. At long last, the family was together.

brighten your pathThe Way We Look at the Problem IS the Problem

I saw the matured youngster at the café the other day and while speaking to him, he reminded me what everyone should know:

Every problem has a solution, but if we don’t create a solution, we become another problem.

I couldn’t believe that it was coming from a 17 year old, but what he said was absolutely true – even if we don’t create the problem, we can become a part of it.

The Bulb That Should Light Up

There is no doubt the economy is deteriorating right now. There is no question that people are losing jobs and it almost seemed like an understatement when I say that our investments lost significant value.

You might be upset but blaming everyone is easy and unproductive. Instead, ask yourself what you are doing about the situation:

  • How are you trying to secure your own job and helping the company you work for so further layoffs aren’t necessary?
  • What steps are you taking to make sure that even in this downturn, you are well on your way to financial prosperity?
  • What lessons are you teaching your kids about the financial crisis?

The Glow from Within

If you want to be heard, learn to listen. If you want to be helped, assist others. If you want to prosper, take action.

It really starts with you. Even in a dark tunnel, you can brighten it up by glowing from within.

I was talking with a friend about a few ways that he could start earning some more money the other day, and he said something that absolutely stopped me in my tracks: he told me that he didn’t want to earn too much money because it would bump him into the next tax bracket. He was absolutely adamant that he didn’t want to be paying more in taxes.

But, in my mind, a higher tax bracket is a good thing. It’s not something to be avoided. Don’t get me wrong: I’m not quite crazy enough to go out of my way to pay extra taxes, but higher tax brackets are beneficial to your bottom line. Here are five reasons for that simple fact.
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truth
One of the best things you can do if you want to build wealth over time is to invest. Thanks to the power of compound interest, investing offers one of the most effective ways to grow your nest egg and prepare for financial freedom down the road.

Unfortunately, there is a good chance right now that you believe some of the myths circulating about investing. And since it’s easy to get bogged down with misinformation and do nothing to build your finances for the future, I want to talk to you about four of these investing myths so you can stop believing them now.
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credit card debt
Credit card debt is the worst. The super high interest rates make paying the debt off seem to take forever. When I got my first credit card, it took me more than a year to pay back the $1,500 I’d racked up.

Luckily, it’s extremely difficult but not impossible. I eventually dug myself out of a hole, and you can, too. This is true no matter the amount of debt you’re in. There are a few strategies that can help you pay down your credit card debt faster. But before we get to those, I need you to do one thing.
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One of the things that many of us aspire to be is, surprisingly, average. We want to have the same things that those around us have. (Or at least, have the same things we think those around us have.) This is natural. We all like to feel as though we belong.

However, it’s not always best to be average — especially when it comes to money.

After all, do you really want to spend money on something just because someone else is? Do you really want to buy something just to maintain appearances?

Average = Debt

Even though the pandemic bumped up the savings rate and reduced the debt levels for many people, there’s still quite a bit of debt out there. On average, the American household has tens of thousands of dollars in credit card debt.

The average American borrows to pay for college, to buy a car, and to buy a home (not to mention borrowing for other things, like furniture, vacations, and weddings).
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None of us like to think about our own or our loved ones’ mortality, but ignoring that eventuality will not make a stressful situation any easier. When a family member dies, it’s important for you to know what responsibilities you might be facing.

Here’s a breakdown of what you can expect if a family member dies and leaves debts behind:

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