If, for some reason, your minimum payment is less than your finance charge, paying the minimum will result in a bigger, not smaller, balance. Can You Lower Your Finance Charge Amount? Since your finance charge is based on your interest rate and credit card balance, you’ll pay higher finance charges when these amounts are high. You can reduce the amount of interest you pay by paying off your balance faster, requesting a lower interest rate, or by moving your balance to a credit card with a lower interest rate. You can also avoid finance charges altogether by paying your entire balance before the grace period ends. If you pay your balance in full each month, you’ll avoid finance charges completely.
The Millionaire Next Door. In this newly updated book, authors Thomas J. Stanley, Ph.D. and William D. Danko, Ph.D. attempt to debunk the myth that most American millionaires have inherited their wealth. They even go as far as to identify seven common traits that are shared among many of those who have accumulated significant wealth. By demonstrating how hard work and smart investing have made millionaires out of average Americans, this book shows us that we too can be among the ranks of the wealthy. The book makes for a very interesting and motivating read.
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US News & World Report: Although US News & World Report is not a finance magazine, it has an excellent money section that is sure to give you insight into the latest market and economic events. The pulse of what’s going on is usually summarized nicely. New York Times: The New York Times has an outstanding reputation for quality journalism. Rather than sensation, you’ll get a thoughtful analysis of current issues. Business Week: Business Week, a weekly publication, is going to give you insight into business and management trends across the globe. Of course, there are many, many more financial magazines on the market. You don’t need to read them all – a sampling of the ones above and you’ll get all the financial news and education you’ll need.For those near retirement, I’d also check out my top ten retirement blogs, which all offer great coverage of age 55+ related topics.
The Courage To Be Rich. Suze Orman has become a household name in personal finance, in part due to her popular television show and her best-selling books. The Courage to Be Rich is but one. What makes this personal finance book different is that it is not a nuts and bolts book about money. Rather, it is a look at the emotional and psychological barriers that keep us from realizing our full financial potential. The book is a must for those who have not yet taken control of their financial future because they are being held back by attitudes about money.
People have been studying business and finance for years. As a result, there are many theories and models that use objective data to predict how markets will respond under certain circumstances. The Capital Asset Pricing Model, efficient market hypothesis, and others have a reasonably good track record of predicting the markets. But these models assume some unlikely things, such as: Investors always have complete and accurate information at their disposal, Investors have a reasonable tolerance for risk, and that tolerance does not change. Investors will always seek to make the most money at the greatest value. Investors will always make the most rational choices.