By Len Penzo
When it comes to matters of personal finance, trying to find the optimal solution can be counterproductive simply because many decisions don’t require extensive research. One of the best examples of this is when comparison shopping for a certain product or service. Typically, a modest survey of three to five samples is all that’s necessary before enough information is available to make an enlightened decision.
The bottom line: Whether you’re choosing
Continue reading 100 Words On: When Financial Perfection Is the Enemy of Good
By Len Penzo
Nothing is easier in life than to blame the other guy when we encounter problems. That’s because it takes real courage and integrity to look inward and take responsibility for all of the troubles that are a direct result of our own making. When we take ownership for every decision we make in life, we become powerful in the eyes of others. It also earns us trust and breeds opportunities.
The
Continue reading 100 Words On: Why Personal Responsibility Is the Key to Success
By Len Penzo
I didn’t eat out too often as a kid, but when I did, you can bet I almost always enjoyed it.
I remember Dad always used to joke that he didn’t have enough money to pay the restaurant bill. “Well, it looks like they’re going to make us go into the kitchen and wash dishes,” he’d say with a wry smile. Hey, that always made sense to me.
Fast forward to last
Continue reading True Story: What Happens When You Can’t Pay the Restaurant Bill
By Len Penzo
Most of us learn to fear failure and avoid it at all costs. During our quest for financial freedom, however, we’ll encounter plenty of failures. Usually, we learn from them and move on. Sadly, the fear of failure is also used as a convenient excuse for some folks who dig themselves into a deep financial hole and are looking for any reason to avoid the hard work of overcoming their
Continue reading 100 Words On: Why You Should Never Ever Be Afraid of Failure
By Len Penzo
According to Freddie Mac’s most recent survey, there is currently a spread of 0.79 percent between the 15- and 30-year fixed rate mortgage benchmarks, which just so happens to be the largest spread since Freddie started tracking the 15-year mortgage 20 years ago; for comparison purposes, the average spread over that same time period has been only 0.47 percent.
I think most people naturally assume that, when it comes
Continue reading The 15 vs. 30 Year Mortgage Loan Debate: Why 30 Is Better
By Len Penzo
By the time kids leave the 5th grade they should know how to calculate simple percentages, which is one of the most critical mathematical tools we have at our disposal after we become adults.
Well, at least it is for those of us who enjoy eating at fine-dining establishments but aren’t willing to trust our waiter to suggest the appropriate tip for services rendered.
That being said, let’s assume for a moment
Continue reading Are You Smarter Than a 5th Grader? Then Calculate This Bill’s Tip…
By Len Penzo
One of the more difficult jobs any parent faces is teaching their kids the value of a dollar. Sadly, some kids never learn that money doesn’t grow on trees.
It may seem cruel, but parents who aren’t afraid to let their kids spend their money on ill-advised purchases — especially those with limited shelf lives — are actually doing them a favor. Experience is a terrific teacher and, with respect to
Continue reading 100 Words On: A Surefire Way to Teach Kids the Value of Money
By Len Penzo
For me, one of the more memorable movie moments of all time is that famous bank robbery scene in Dirty Harry where Clint Eastwood’s Inspector Harry Callahan character reels off his “Do you feel lucky?” line.
In it, Callahan dares an armed bank robber to make a move even though he is looking straight into the barrel of Harry’s .44 Magnum. “I know what you’re thinking,” says Harry, “did he
Continue reading Why It Sometimes Takes a Real Daredevil to Get the Best Deals
By Len Penzo
Never assume that just because a person holds an MBA, he knows how to run a business; the road is littered with MBA-sporting CEOs who ignominiously drove their companies into the ground. Conversely, there are just as many CEOs — guys like Microsoft’s Bill Gates and Oracle’s Larry Ellison — who achieved phenomenal success without the fancy business school sheepskin.
The bottom line: If guys like Gates and Ellison can
Continue reading 100 Words On: Why You Don’t Need an MBA to Manage Your Finances
By Len Penzo
Once upon a time, no self-serving radical activist would be caught dead without The Anarchist Cookbook and its misguided recipes for making homemade bombs, tear gas, and other sinister items out of everyday household products.
In fact, Lifehacker recently put out a post “celebrating” the cookbook’s 40th anniversary with a bunch of relatively benign but dangerous do-it-yourself ideas you’d probably be better off staying away from, like making a pair of
Continue reading Power to the Pinched! The Personal Finance Anarchist Cookbook
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Disclaimer This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. Ultimately, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your particular situation.
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The 15 vs. 30-Year Mortgage Loan Debate: Why 30 Is Better
According to Freddie Mac’s most recent survey, there is currently a spread of 0.79 percent between the 15- and 30-year fixed rate mortgage benchmarks, which just so happens to be the largest spread since Freddie started tracking the 15-year mortgage 20 years ago; for comparison purposes, the average spread over that same time period has been only 0.47 percent.
I think most people naturally assume that, when it comes
Continue reading The 15 vs. 30 Year Mortgage Loan Debate: Why 30 Is Better