Hope for your financial life and beyond

4 Tips to Break Out of Your Career Rut 

If you love your career, you are in a great position. That is because many people don’t. But even those who love their career may find it becoming tedious or boring at times. And if those moments extend to longer periods of time, you may be dealing with something else. So, if you sense that you’re no longer excited about your job and feel a lack of purpose with it, you might be dealing with a career rut.

career rutHow might you know this? Typical signs include complaining about your job most of the time, feeling under-stimulated at work (things are boring to you) and being apathetic and uncaring towards your responsibilities. Joint research by the Bill & Melinda Gates Foundation, the Lumina Foundation, and Gallup revealed that over 50% of workers are unhappy with their jobs because they can’t find purpose in what they’re doing.

That’s not a great place for anyone to be. For most, a career is such an important part of their lifestyle and personal identity. The impact of not enjoying work, will leak out and find its way to impact other areas of your life.

Fortunately, you don’t have to remain in this situation forever. You can get yourself out and have a rewarding career. Here are some things that’ll help you break free and move on to something better. 

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7 Ways to Future-Proof Your Business

As we have seen in the last year, the future is unpredictable. You never know when a major event is going to pop up and disrupt your plans. It is something you should prepare for even if you don’t know when the event will happen. 

This is true for your personal financial life. You need to have an emergency fund in place to pay for unexpected events.

But it is also true for those who run their own business. The steps you take today will determine how well your business can face unexpected challenges.

The pandemic is a perfect example of how unforeseen challenges can disrupt the status quo. It really shook up the business world. Research is showing that 91% of businesses have adopted some form of digital strategy as a way to future-proof their business from issues like the one we just faced. This is just one way that companies need to adapt to an ever-changing world. 

So what plans have you set in place to guard your business against a drastic economic shake-up? Can your company survive in any unforeseen circumstances? If you are not sure, then consider a few of these practical and effective ways to protect your business against unforeseen situations in the future. 

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The Beginner Bitcoin Mistakes You Don’t Want to Make

Within the last few years bitcoin and other cryptocurrencies have been in the news a lot. It’s become very fashionable to talk about these as a legitimate, new form of investing. Many people are looking at it as a way to make money and become wealthy.

But is it better than traditional investing in stocks and bonds? And should everyone be investing in these currencies? Are there issues to consider before you tackle the cryptocurrency world? 

It would be good for you to know that there are some common Bitcoin mistakes beginners tend to make. So if you are thinking about dipping your toe into the Bitcoin trading and investing world, it’s important to understand what to avoid doing. You don’t want this new venture to end in disaster.  

So, let’s look at some of the mistakes Bitcoin investors make and how you can avoid them.

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How To Take To The Open Road (And Earn Money When Doing So)

Covid-19 has caused a lot of havoc with people’s finances. You may have noticed a significant dip in your expendable income, the amount you have left over after paying your basic bills. Whether whether this is the result of reduced working hours or company cut-backs doesn’t matter. You see it and feel it in your everyday life.

There are steps you can take to combat this issue, like prioritizing your spending habits when making a budget or trying your hand at investing. However, one of the ways you probably thought of immediately was to be on the lookout for a new way in which you can earn more money. Whether you call it a side hustle or just getting a second part-time job, when a crisis hits, this is the route many people take. 

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4 Reasons Why Paying Off the Mortgage Early Was Right for Us

Paying off the mortgage early is a hot topic when it comes to money management. There seems to be a good amount of quality logic for keeping it and equally valid logic for paying it off early. So what’s a homeowner to do?

paying off the mortgage earlyAfter we bought our first house, I began to look into this issue. I read many opinions and ended up agreeing with the major arguments for NOT paying off the mortgage early. These points seemed solid to me. The logic goes like this:

“You have such a low interest rate.”

“You could invest instead and get a better rate of return on your money than putting into extra mortgage payments.”

“More of your money is tied up in your house and you can’t get to it for a big emergency.”

“You are getting tax breaks for carrying a mortgage.”

“A mortgage is a hedge (protection) against inflation, especially with a fixed rate mortgage.”

Then during 2010, my wife and I went through some life changes. We began to rethink many money related things including our mortgage. After a lot of back and forth, we decided to pay off the mortgage early. The reasons may surprise you because only one of them is based on a mathematical concept or equation.

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Sam’s Club Does It Again with Scan-and-Go App for Gas

A while ago, I wrote about how Sam’s Club had introduced a Scan-and-Go app that allows you to scan the barcodes of your items as you shop. It records each scan in a digital shopping cart. When you are finished shopping, you simply check out in the app and leave the store.

sam's club scan and go gasThe huge advantage of this is of course saving time. There is no need to unload and then re-load your shopping cart at the checkout line. You can skip that entirely! And that is a huge advantage when you are shopping at Sam’s, especially during peak hours. Sometimes those checkout line waits can take forever.

Too this day, I am amazed at how many people still do not use this feature on their phone at my local Sam’s.

As you know, Sam’s Club also sells gas to its members. And recently I was greeted with a pleasant surprise when I rolled up to the pump one day to get gas. The interface screen had been changed and a QR code was now staring me in the face.

That’s right…I could now use my Sam’s Club Scan-and-Go app to purchase gas. Let me tell you how it works and then discuss a few reasons why it’s a big deal.

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How to Succeed Quicker in Business

Have you ever started a business? If so, you know that starting one is not an easy task. It takes time, effort and a lot of work to get one started and headed in the right direction.

When it comes to the world of business creation though, entrepreneurs want to succeed quickly. These are fast-minded and driven people who want to see their investment turn a profit quickly. For them, a long, drawn out process is not what they are hoping for. They want to move and move now. 

Now, there’s nothing wrong with taking your time and getting to where you want to be slowly and gradually. However, there are certain things you can and should do in order to make your rise to the top happen faster and with less difficulty. If that is what you are looking for, then the following ideas and strategies may prove useful for you. 

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What Are the Challenges of Being a Digital Nomad?

A lifestyle that is appealing to a growing number of people is being what is known as a digital nomad. This type of lifestyle brings the freedom many enjoy and the ability to make money in the way that they want. In essence, while you earn, you get to travel and experience new things. You’re not tied down and stuck at home or in an office, doing the same stuff day-in and day-out.

How is this possible? Through the use of technology. Digital nomads use telecommunications devices like cell phones or laptops with wi-fi access or hotspots to conduct their business. By using these devices they are not tied down to one location. They conduct their business and do their work wherever they want, like in coffee shops or libraries. Many even work in foreign countries. 

While this lifestyle might sound appealing, the life of a digital nomad isn’t always a perfect paradise. There are plenty of challenges with living this way. So, if you are thinking about becoming a digital nomad or are looking for ways to navigate some of the challenges you face as one now, here are some strategies that might help.

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5 Sure Fire Ways Of Becoming Financially Independent in 2021

Everyone loves the idea of becoming financially independent, especially in this day and age. Who wouldn’t want to have the luxury of not worrying about how to pay your day-to-day bills and have some money left over to enjoy. That would be a nice place to be. 

However, the rise of coronavirus has seen the unfortunate downfall of many businesses. That means many people have been left out of work and financially devastated. For some, it seems like there may be no way back from their situation. 

However, even in times like these, financial freedom isn’t as far out of reach as you might think. While it’s not an overnight process, you can set yourself on track to achieving exactly that!

Not sure where to start? Here are some basic ways you can move towards being financially independent in 2021.

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“I’m Rich!” – How to Handle a Lump Sum Payment of Money

I’m sure you’ve daydreamed at some point about how life would change if a large lump sum payment of money came your way. Say like a million dollars? We’ve all played this game and fantasized about all the good we could do for ourselves and others with that much money.

lump sum paymentBut let’s be completely honest. For most people, this will not happen. The better likelihood of a person becoming rich is that it will take many years of hard work accompanied by traditional saving and investing. That’s the more likely path to wealth and the financial freedom that comes with it.

However, people’s lives can change quickly because they receive a lump sum payment of money worth six or seven figures. How could this happen? Well, there are more ways than you might think. So, Ill detail a few ways here that are not get-rich-quick schemes. Then we will look at what you should do if ever faced with this situation.

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The 5 Most Important Concerns When You Are Flipping Houses

I’ve written a lot on this site about owning rental property and being a landlord. For me, it’s one of the best ways to earn passive income. There is a good deal of work that goes into purchasing and renovating the home. But once that is done, for the most part, owning rental property can be a hands-off side hustle, especially if you hire a professional management company to take care of it for you. 

A not-so-hands-off side hustle would be flipping a house. For those that may not be familiar with this practice, the term “flipping” refers to a short-term ownership of the home. The buyer (investor) purchases the property with the intent of renovating it and then selling it for a profit. This is done in as short a time frame as possible so that income can be realized to pour into the next flip. 

Flipping isn’t easy. I have some friends who do this and have had some measure of success. But if you are looking to make money from buying and selling property, you will need to be fully aware of what is in store for you. Some of the concerns with buying and long-term ownership of rental homes also applies to flipping homes. However, there are a few additional concerns in particularly related to flipping homes. 

So today, I’m going to take a look at what those concerns are and discuss what you can do to deal with them properly. If you do the following, you will find this is much easier to do.

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