Rule #1 Finance Blog

financial control

Investment Risk vs Investment Reward

Phil Town

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Posted in financial control

Does taking more risk when you invest actually yield more rewards? Risk and reward are the yin and yang of investing. Both are always present, though it is certainly possible to reduce your investment risk and increase your reward if you follow the right investing strategy.

Before you can go about reducing risk and increasing reward, though, you first must understand what the risks and rewards are – and what you can do to alter them. Read more.

Understanding The Pros and Cons of Credit Cards

Phil Town

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Posted in financial control

The average United States household now carries more than $16,000 in credit card debt.

Can you relate? Read more.

Start Early With These 5 Tips for Investing in Your 20s

Phil Town

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Posted in financial control

When it comes to investing, the earlier you start the better. Compound interest will help grow your money exponentially, meaning that if you start investing in your 20s, rather than later in life, you can end up with many times the amount you saved as a young person. When it’s time to retire, you will find that a few hundred dollars invested at age 20 has grown into a valuable asset.

If you are in your 20s and want to get a head start on investing, here are a few tips to help you out.

Read more.

6 Money Traps to Avoid in Your 30s

Phil Town

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Posted in financial control

Getting to middle adulthood demands a shift in priorities. Once you stop needing to count the days to your next paycheck, it’s time to start really planning out your financial future. There are so many money traps that can get in the way, and you may not even realize it. Read more.

5 Tips to Help Improve Your Credit Score

Phil Town

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Posted in financial control

Learning how to improve your credit score is essential for financial and investing success.

It’s no secret that your credit score can have a major impact on your ability to get approved for financing—but did you know that your credit score can even affect your ability to rent an apartment or secure certain jobs?

Read more.

Why You Don’t Need a Financial Advisor

Phil Town

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Posted in financial control

One of the most commonly held misconceptions in investing is the idea that you must work with a financial advisor in order to be successful.

Perhaps this myth has persisted for so long thanks to persistent marketing on behalf of financial advisory firms.

However, the reality is that investors who manage their own money are often able to perform just as well or better than those who work with a financial advisor and without any high fees eating into their returns. Read more.

7 Tips For Spending Money Wisely

Phil Town

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Posted in financial control

For some people, financial struggles are due to not bringing in enough money. For many others, though, the problem comes from not spending money wisely or from spending more money than they make. Read more.

Invested Book Q&A: Phil & Danielle Your Most Popular Questions About the New Book

Phil Town

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Posted in financial control

Over the past couple of years, I’ve hosted a podcast called Invested with my daughter Danielle. Danielle had spent her life avoiding the stock market for fear of losing the money that she worked hard for and I set out to teach her how to invest.

I’ve never feared investing like Danielle did and through recording the podcast, we realized that many people also share the same fears as her. Read more.

Why is Debt Getting Harder to Pay Off?

Phil Town

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Posted in financial control

Paying off debt is not easy. Trust me, I’ve been there. It can be especially hard if it’s credit card debt. Credit card debt can be crippling to you, and your wallet. It also makes it impossible to invest.

Think about it, you’re paying 18-20% on credit card debt and you’re also going out and doing great as investor making 15% a year. Sadly, you’re still losing 3-5% a year because of the credit card debt.

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5 Things Not to Do With Your Tax Return

Phil Town

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Posted in financial control

Tax season is around the corner. This means you are probably starting to think about the best way to use your refund. We have already discussed five things that you should do with your tax return this season, but what should you not do?

Once you get your refund, you may be tempted to spend that big chunk of money. Don’t! Decide to take control of your funds and become financially fit instead.

Read more.