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Want to retire wealthy? Start with your 'money personality'

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For those seeking ways to build wealth (or just to get rich quick), there’s no shortage of advice out there.
Personal finance sites abound online, and self-styled radio talk show experts dispense wisdom with varying degrees of accuracy.
But one study found that your fundamental attitudes about money can be a predictor of your ability to accumulate wealth.
The study, published in the Journal of Financial Planning, looked at the correlation between certain behaviors and four “money scripts” — or, put another way, four money personalities.
And, spoiler alert: Only one of the four money scripts is particularly conducive to getting wealthy.
But Tom Murphy, a certified financial planner and CEO of Murphy and Sylvest, said the good news is, like anything, once you recognize that you look at money a certain way, you can take steps to change.
“Recognizing why you are doing what you’re doing is strongly correlated with changing it,” he said. “Lots of times, once people understand their money p…

Three Tips New Investors Must See

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When I first started investing, I had many questions. Fortunately, I had helpful and experienced investors around me who were able to guide me through my first steps as a stock market investor. However, others may not be so fortunate and may, as a result, be put off from investing due to fears of making a mistake.
Because of this, I thought I would answer three common questions that new investors might have.
How much should I invest in my first stock?
This may be the first question that many new investors might have. In reality, there is no simple answer to this question. It depends on a multitude of factors such as your risk appetite, portfolio size, and investment strategy.
Having said that, I believe that all investors should still follow a few rules of thumb before making a decision on this.
First, our investment size should be large enough such that the commission charges do not exceed 1%.
For instance, investors should try not to make a transaction below $1000 while using broker…

Top seven tips for saving money and making your dollar work for YOU

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Saving money and cutting costs is often as exciting as watching paint dry.
But finance guru and Sugar Mamma founder Canna Campbell has revealed her seven top tips to get you enthusiastic and confident about growing your bank account.
The Australian video blogger says getting yourself into a healthy routine with money is the best starting point for saving money and making every dollar count.
In her latest YouTube video, Canna shared seven simple ways you can cut costs and squeeze every penny so you can sit back and watch your savings flourish. 
1. Have a Deadline
Canna says setting yourself a reasonable but clear deadline for your savings goal is the first step towards maximizing your money.
If you have a goal of saving $10,000 in five months, the finance expert recommends pinpointing a specific date on your calendar for your deadline - which instills a sense of urgency in your mind every time you see it. 
'That way you feel feel a lot more accountable and realize that time is tick…

Saving money made simple for pensioners

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OLD age pensioners are the salt of the earth.
Most soldier on, without complaints.
They are not whingers.
Most went through hard times where seeking second-hand goods were a habit as there was no money to buy anything brand new.
They survived to become great, unheralded, true blue Australians.
Luckily in those days, the only drugs were tobacco and alcohol, not the "killers" we see on the streets today.
Now, on small pensions, they must learn how to top up those empty pockets.
Below are some tips and information that could work for you.
Be determined, be lucky.
Catalogues
First of all, don't regard the shopping catalogues that are shoved into your letterbox as junk mail. Far from it. They are valuable and your guide to cheaper shopping. We study them; make our lists and do our thrice-weekly shopping trip - what we call our "big shop".
Because the big supermarkets are grouped together, it is not physically exhausting to visit each one, if your object is to save mo…

Five money tips to give your children before they start university

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In the coming weeks, hundreds of thousands of excited 18-year-olds will be heading to university. It is daunting for both the new generation of undergraduates and their parents.
University will be a long list of firsts – and many of these will involve money. Having a bank account with an overdraft (and very likely the offer of a credit card, too) will be just the start. There will be rental contracts and deposits, student loan borrowing and, for some, the eye-opening experience of doing a grocery shop. 
What is the most useful financial advice a parent or grandparent can impart? Here are five suggestions.
Basic planning
Many 18-year-olds will never have budgeted properly in their lives, and having to meet essential food, housing and other costs could come as a shock.
Helen Saxon, the chief money analyst at moneysavingexpert.com, said: “They’ll need to sit down – and maybe parents can help in these remaining weeks – and work out how much cash they’ll have coming in, including their stu…

5 Money Tips to Help Your Side Hustle Succeed

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1. Maintain three to six months of savings in your account. “As a contractor or part-time worker, your income will tend to ebb and flow,” Gugliuzza says. “Having an emergency fund with enough savings to cover three to six months’ worth of your critical expenses can help ensure you can pay your bills, even during times of low employment.” Figure out what this necessary dollar amount is and make sure your bank account is ready to go before you take the full leap into the gig economy.
2. Keep a handle on your debts. As part of the gig economy, you’re still responsible for paying taxes on what you earn, and bad news: You don’t have an in-house HR or accounting department to make that happen for you. “If you’re doing contract work and don’t want taxes withheld from your pay, you’ll need to make quarterly estimated state and federal tax payments,” Gugliuzza says. You’ll save yourself a lot of stress comes tax time if you are careful to put away a portion of each payment you receive and fla…

Easy financial tips to get on track

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Money is something that individuals usually need more of but frequently find in short supply.
People worry about money.... a lot. According to the YouGov poll for the Institute of Financial Planning and National Savings and Investments in Great Britain, nearly two-thirds of respondents worried about their finances, with 43 percent saying they worried about money "more often than not." Things aren't much different in the United States, where a recent survey from Lincoln Financial Group showed that 53 percent of respondents worried about having enough money for retirement.
Taking charge of personal finances may seem like a difficult undertaking, but you don't have to make drastic lifestyle changes to grow your savings. Try these tips to save more and live a more financially-conscious life.
· Keep financial records. It's hard to determine your financial standing if you do not prioritize record-keeping. Find a method that you can stick with consistently. Some people p…