Comments on: 12 Steps to Financial Fitness http://www.mint.com/blog/goals/12-steps-to-financial-fitness/ The blog of the free, simple personal finance solution. Track all your spending automatically, find the best deals, save more money. And save the world. Sun, 12 Feb 2012 05:07:51 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Zee http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-48094 Zee Thu, 29 Apr 2010 00:43:58 +0000 http://blog.mint.com/blog/?p=381#comment-48094 Budgets are all well and go0d and seem easy to set up...if you know you will have X $'s every 2 weeks or every month. What I need help with is budgeting when I earn anywhere from $750 a month (worst month in the last 12) to $5,000 from 1 client alone in a month? How about an article for the self employed? No employer to auto deduct anything, no 401K matching, etc. Thanks! Budgets are all well and go0d and seem easy to set up…if you know you will have X $’s every 2 weeks or every month. What I need help with is budgeting when I earn anywhere from $750 a month (worst month in the last 12) to $5,000 from 1 client alone in a month?

How about an article for the self employed? No employer to auto deduct anything, no 401K matching, etc.

Thanks!

]]> By: jared http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-47357 jared Sun, 04 Apr 2010 07:14:50 +0000 http://blog.mint.com/blog/?p=381#comment-47357 A good way to save money is to save on something that you for sure will be paying for already. Insurance is something that you can always save money on through going with a broker. A good way to save money is to save on something that you for sure will be paying for already. Insurance is something that you can always save money on through going with a broker. ]]> By: Jeremiah http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-46723 Jeremiah Wed, 24 Mar 2010 02:45:46 +0000 http://blog.mint.com/blog/?p=381#comment-46723 If you want to hedge from a drop in the market it is smarter to go with the 100 a month for stock. this is dollar-cost averaging . -say as you start out buying this stock the stock drops in price you will still be buying 100 per month when the stock is dropping you are getting more shares per dollar and then when the stock goes back up you will have more shares to sell. whereas if you wait and save up to put it in all at once you will be more worried when the price drops as you aren't continually investing..... 1m, 2 shares @$50, 2nd m 4 shares @$25, 3rd m 4 shares@ $25 = 10 shares sell at price $50 = $500 +$200 gain 1m 6 shares @$50 = 6 shares, sell at price $50 = $300 no gain this is just a crude example but demonstrates how dollar cost averaging can protect and actually increase your gains in the long run. Check out www.sharebuilder.com whitch has an automatic investing stocks costing 4 bucks a transaction. and the best thing with them is they are one of the only companies that let you buy fraction of shares, so you can invest in companies you know ie google, disney without having to shell out 200-300 bucks per share. If you want to hedge from a drop in the market it is smarter to go with the 100 a month for stock. this is dollar-cost averaging . -say as you start out buying this stock the stock drops in price you will still be buying 100 per month when the stock is dropping you are getting more shares per dollar and then when the stock goes back up you will have more shares to sell. whereas if you wait and save up to put it in all at once you will be more worried when the price drops as you aren’t continually investing…..

1m, 2 shares @$50, 2nd m 4 shares @$25, 3rd m 4 shares@ $25 = 10 shares
sell at price $50 = $500 +$200 gain

1m 6 shares @$50 = 6 shares,
sell at price $50 = $300 no gain

this is just a crude example but demonstrates how dollar cost averaging can protect and actually increase your gains in the long run.

Check out http://www.sharebuilder.com whitch has an automatic investing stocks costing 4 bucks a transaction. and the best thing with them is they are one of the only companies that let you buy fraction of shares, so you can invest in companies you know ie google, disney without having to shell out 200-300 bucks per share.

]]> By: Brett http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-46655 Brett Mon, 22 Mar 2010 19:05:10 +0000 http://blog.mint.com/blog/?p=381#comment-46655 You probably get bigger bang with the 100 a month because of dollar cost averaging. You probably get bigger bang with the 100 a month because of dollar cost averaging. ]]> By: Trey http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-46412 Trey Sat, 13 Mar 2010 02:37:05 +0000 http://blog.mint.com/blog/?p=381#comment-46412 Thanks... Awesome advice! Thanks… Awesome advice! ]]> By: Tyler http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-46105 Tyler Wed, 03 Mar 2010 01:03:13 +0000 http://blog.mint.com/blog/?p=381#comment-46105 Which is a better course of action: purchasing $100 of stock a month or saving the money up and buying $1,200 of stock once a year to avoid the fees? Which is a better course of action: purchasing $100 of stock a month or saving the money up and buying $1,200 of stock once a year to avoid the fees? ]]> By: Juan http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-45355 Juan Fri, 05 Feb 2010 22:47:27 +0000 http://blog.mint.com/blog/?p=381#comment-45355 Simple. Very good article. It is very helpful. Thanks Simple. Very good article. It is very helpful. Thanks ]]> By: Josh http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-45227 Josh Wed, 03 Feb 2010 21:17:08 +0000 http://blog.mint.com/blog/?p=381#comment-45227 This is Awesome, Thank You for your Wisdom This is Awesome, Thank You for your Wisdom ]]> By: Annie Cooper http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-2/#comment-45049 Annie Cooper Tue, 02 Feb 2010 00:06:18 +0000 http://blog.mint.com/blog/?p=381#comment-45049 Thank you very much for your help, this has been a great abatement from the books, Thank you very much for your help, this has been a great abatement from the books, ]]> By: Marci http://www.mint.com/blog/goals/12-steps-to-financial-fitness/comment-page-1/#comment-44568 Marci Mon, 25 Jan 2010 06:15:29 +0000 http://blog.mint.com/blog/?p=381#comment-44568 Amand, you should first talk with your parents and have them sit down with you for an hour to go over your questions. If they aren't able to, or don't provide enough details, then start looking online for answers. What you need to remember, is that the way the world operates, businesses (banks and credit card companies specifically) are interested in making money from you - by you spending money, or by slapping fees on you for using their checking/savings or credit cards. Your goal as a consumer is the opposite - not to pay any fees for simply having access to your money, or even when they give you credit. IRAs and 401ks are retirement savings plans/accounts which are available to people who have earned income (make money from a job). If available, it might be a good idea to take a basic personal finance course at your high school or local community college. It would be well worth it. Amand, you should first talk with your parents and have them sit down with you for an hour to go over your questions. If they aren’t able to, or don’t provide enough details, then start looking online for answers.

What you need to remember, is that the way the world operates, businesses (banks and credit card companies specifically) are interested in making money from you – by you spending money, or by slapping fees on you for using their checking/savings or credit cards. Your goal as a consumer is the opposite – not to pay any fees for simply having access to your money, or even when they give you credit.

IRAs and 401ks are retirement savings plans/accounts which are available to people who have earned income (make money from a job).

If available, it might be a good idea to take a basic personal finance course at your high school or local community college. It would be well worth it.

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