First published in 1937 during the great depression, Think and Grow Rich written by Napoleon Hill is an absolute classic and a must have. Hill’s inspiration came directly from the great Andrew Carnegie’s magic formula for success. Hill will show you the great secret and how to master it. Once mastered, Hill claims that you may have whatever you want in life.

            Think and Grow Rich begins with the first chapter titled: “Thoughts are Things.” He tells a story of a man who literally thought his way into a partnership Read the rest of this entry

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                  If you are in control of money you can go to work because you want to. If money is in control of you then you go to work because you have to. This is a subtle difference in writing, but a big difference in how you live your life. Even in the wealthiest Country’s in the world, 99% of the population is still being controlled by money mostly because they don’t know how to manage money better. The effect is lack of money, the cause is thinking.

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            So, I’m at work the other day and I am talking to people about retirement and personal finance basics. I told them that basically I don’t want to work a job forever and I will most likely leave my current job within the next few years. I was surprised to find that most people I told this to laughed and asked if I was planning to win the lottery. This got me thinking. Is this how most people are planning to retire or leave work early? Do they realize that they could have so much more? After talking to more people and doing a little research, it became obvious that not only do most people not have plan, their ideas for attaining retirement are just down right ridiculous.

            I find it funny that a large group of people think they will get to retirement by winning the lottery. Perhaps funny is the wrong word, maybe I should say Read the rest of this entry

If you don’t have much time to plan your finances, or you just want an easy financial game plan, then the Automatic Millionaire by David Bach is the book for you. In his book, David will show you how you are likely wasting a lot of your money and how you can follow one simple step to achieve financial success. David will show you how easy it really is to become wealthy. A must read for anyone entering the world of personal finance.

David has been recognized for coining the phrase “the latte factor” which is an expression for how much money we waste on items we don’t really need. He challenges the reader to put their own finances under a microscope and evaluate if they are spending money on unnecessary items. Save first, and then invest the difference.

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In the second part of this series we looked at the final steps to debt stacking and how to pay off debts faster. We looked at how to find extra money to pay off debts faster. We also looked at which debts to apply extra cash flow to and how save thousands in interest. In the last final part of this series we will cover a full example with all the calculations. You will be able to use this example as a reference when working on your own plan. (All numbers are approximate)

A full example of debt stacking:

Bob is a 38 year old city worker making $45, 000/year. He has a wife and 2 children. He has stopped creating new debts (step 1) but is having a hard time getting ahead with the other debts. He puts a little extra onto each debt every month but still can’t seem to get ahead. The following is a list of his debts: (All debts assume a minimum payment of 2.5%) Read the rest of this entry

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Last post we looked at an introduction to debt stacking and how to pay off debts faster. To recall, the first 5 steps of debt stacking is to basically organize you debts into a list. In your list you would include things like: interest rate, how long to pay off each debt, minimum payment and actual payment. Remember to organize your debts from lowest balance to highest balance. The second part of this series will cover the final steps of debt stacking and how you can use it to get out of debt sooner and save thousands in interest.

Here are the final steps to debt stacking and how to pay off debts faster: Read the rest of this entry

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             Do you find yourself in a mountain of debt? Are you looking for a way to pay off debts faster for no extra cost? If you answered yes to both of these questions then debt stacking might be the answer for you. Debt stacking is just a technique; it is not a debt consolidation program or consulting service. Have you ever heard the saying “the genius is in its simplicity?” Well, debt stacking would fall into this saying. It is a concept, or a technique, that is both simple but very effective in removing debt faster. If you have multiple debts, then I would recommend debt stacking as a solution for you.

Here is a step-by-step guide on how debt stacking works to pay off debts faster:

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         If you would like to learn about personal finance but hate the confusing terminology and financial jargon, then look no further than The Wealthy Barber written by David Chilton. This is a book that teaches about basic financial concepts and money management skills in plain understandable English. David uses the power of storytelling to unmask and simplify some of the most basic but confusing financial concepts. If you are new to personal finance, or just want to learn more, this book will surely not disappoint.

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