Remember To Water - Growing your personal finances
Money Tips 71 to 80 Explained (#MoneyTips) Probably past time for the eighth set of 10 money tips to gain an explanation. I have posted my money tips to Twitter (using the hash tag #MoneyTips) and found that some of them were very hard to keep within that magic but annoying 140 character limit (can you tell I started this before twitter changed to allow longer tweets?). So far, I have managed it, however sometimes a little of the meaning seems to get lost, and occasionally I wanted to add a little more explanation. This is where I do it....
To Money or to Happiness – that is the question. For most people that I know and meet, they would rate their general life happiness – how much they enjoy life – at around 60 to 80%. This is assuming they were being realistic, I do know some would would say 100%, but I have my doubts. However when ask people how they would rate their financial happiness, the answer is often closer to the 25-50% range. Consistently more than half worry more bout finances than general happiness – life, kids, work, movies, dinners out, leisure time etc. When I...
Money Tips 61 to 70 Explained (#MoneyTips) Time for my seventh set of 10 money tips to gain an explanation. I have posted my money tips to Twitter (using the hash tag #MoneyTips) and found that some of them were very hard to keep within that magic but annoying 140 character limit (can you tell I started this before twitter changed to 280?). So far, I have managed it, however sometimes a little of the meaning seems to get lost, and occasionally I wanted to add a little more explanation. This is where I do it. I hope you enjoy the...
So it has been a while since my last post. I feel bad, but will get over it since no one complained to me. I wanted to give a quick update on my P2P lending from the last post that I made on the topic. I also wanted to answer/address the goals and questions I had previously. So here goes. First, let’s address the questions What rate of return will I receive? Currently the rates are listed as: Wisr: 7.6% to 8,4% (see here). RateSetter: 8.3% (see here). OurMoneyMarket: 8.4% up to around 17% (see: here). How long will my...
Half of 2018 down and it is net worth checkup time again. If you are not familiar with net worth, the idea is to calculate how much your possessions are worth if you had to consolidate everything at current value right now. To calculate it, you take everything you own, work out how much it is worth, and add it up. You then subtract from that number anything you owe people (like home loan, car loan etc). That gives you a final number called your net worth. The last 6 months were not quite as good as I had hoped, but...
Just a very quick one today, and I thought I would actually try out one of the “aside” post options to see how it works. Recently Market Index sent out their monthly (I think) email, and it contained a link to 10 quotes from the 53rd Berkshire Hathaway annual meeting. There were two I wanted to explore a little further: On cryptocurrencies: “When you buy Bitcoin, you are just hoping that the next guy will pay more; it will not produce profit itself. That is not investing, that is a kind of game … Anytime you’re buying a non-productive asset, you...
Money Tips 51 to 60 Explained (#MoneyTips) Time for my sixth set of 10 money tips to gain an explanation, after all, it has been a little long while. I have posted my money tips to Twitter (using the hash tag #MoneyTips) and found that some of them were very hard to keep within that magic but annoying 140 character limit (can you tell I started this before twitter changed to 280?). So far, I have managed it, however sometimes a little of the meaning seems to get lost, and occasionally I wanted to add a little more explanation. This is...
Continuing on from my first post about Peer to Peer (P2P) Lending, I wanted to have a look at the three remaining retail P2P lenders. As I am still a retail client, the wholesale funds hold little interest to me at the moment. As a quick recap, the three remaining peer to peer lenders are: Wisr (previously DirectMoney) RateSetter OurMoneyMarket Before assessing the remaining three however, there are some key questions that need to be answered. Some of them can’t be answered, like “will I lose my money”, but I will try and see if some of the information they...
I have wanted to start my foray into Peer to Peer (P2P) Lending for almost a year now, and I have finally had time to get around to it. Just like most people, I am a fan of having a diversified and balanced investment portfolio based on my desired risk vs return objectives… That really sounds like a boring old man’s statement, I didn’t think I was that old yet. Given the current RBA cash rate is only 1.5% I have been looking to other investment options to increase returns. I already have quite a bit invested in a few...
Given my new year goals from last year came in February, it seems only fitting that this years come in March. Although that does make me think I should set a goal of having new year goals in January, but that seems a bit too meta for me. So on with the show! Goal 1: Increase Net Worth By $150k This year I am upping the anti. Each of the previous two years I have aimed for $100k and blown it out of the water by almost 30% and then almost 50%. So this year I am banking that previous...
I am glad I did not include punctuality as one of my new year goals for 2017, as January disappeared before I could set aside any time for this blog. But the time has come, and now it is time to look back on 20917 and see how our goals from 2017 went. Following that I need to release my 2018 goals out into the world. Hopefully that will once again help to hold me accountable, and speaking of accountable, lets see how I did in 2017: Score: a total of 3 out of 7 (or 43%) for my 2017 goals....
