Charles Hebert
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Article
Compound Interest Calculation - The Secret Weapon Upon Which All Fortunes Are Built
I was always taught to listen closely to people who are much smarter than me. So when Albert Einstein, one of the greatest minds to ever walk planet Earth, is quoted as saying, âThe most powerful force in the universe is compound interest,â I believe him. So what is compound interest, anyway? Compound interest is defined as âinterest calculated on both the principal and the accrued interest.â In other words, compound interest is when money you invest and the interest
September 1, 2007
Article
Personal Finance Tip - Pay Cash For All Non-Investment Expenditures
Most personal finance gurus continually stress the importance of budgeting for monitoring and modifying poor spending habits. However, I have noticed that most people who attempt to implement a family budget eventually give up on the activity, mainly because it takes the fun out of spending money. You know what, I agree! An impulse purchase here and there feels good! And as it turns out, an impulse purchase made on occasion wonât necessarily create a big problem for most us
August 31, 2007
Article
Personal Finance Training for Young Adults
In many of my articles, I focus on young adults as my target audience. By young adults, I generally mean people between the ages of 18 and 35 years old. Why target this group? Quite simply, time is on their side when it comes to saving for retirement, and because of this fact, small changes in their spending habits can make a big impact on their investing results due to compound interest. When these numbers jump out and âsurpriseâ a person for the good, that person is mor
August 29, 2007
Article
Personal Finance for Dummy Investors â Four Missteps to Avoid
There was a time when the word âdummyâ had negative connotations. But with the advent of the âDummyâ book craze, I felt a title containing the phrase, âpersonal finance for dummy investors,â to be sort of endearing. It is certainly not meant to be insulting, but rather to point out certain financial blunders we all make at some point in our lives even though we may know better. See if any of these financial missteps sounds familiar.n n Buying a Car Based on Our Ab
August 28, 2007
Article
Personal Finance Software Review of Quicken Product Offerings
In this article I would like to conduct a personal finance software review of the Quicken product offerings designed for personal use. There are several personal finance software products on the market that do wonderful jobs of helping families manage their finances, but I am most familiar with Quicken as I have been a user of its products for over eight years. I have been completely satisfied with the features Quicken provides and would like to review and compare the benefit
August 27, 2007
Article
Open Savings Account Online and Transform Emergency Cash Into a Gold Mine
Many of us are aware that an emergency cash reserve is a necessary component to the implementation of a successful financial success system. This cash reserve is to be used for rare emergencies, such as a sudden job loss, a broken washing machine, or serious car accident. But what if I told you that you could transform this cash reserve into a gold mine that could greatly enhance your nest egg at retirement. Would you believe me? Well, itâs true! Just follow the simple step
August 25, 2007
Article
Learn How to Better Manage Your Money By Continually Expanding Your Financial Library
Starting when I was in college, I became interested in expanding my knowledge of finance and investing topics and began building a library of useful resources to help accomplish this task. Although these books presented solid information from cover to cover, most had one or two concepts that stood out, making a profound impression on my view of investing and personal finance that continues to this day. I have outlined below five of these valuable ânuggets of wisdomâ that
August 25, 2007
Article
Is A College Education Always Worth It?
I anticipate that the title of this article will probably upset a few people, but please bear with me and continue reading. I am certainly a strong proponent of learning and education, as I myself am a college graduate in Chemical Engineering. However, the chief arguments I would like to present are that education does not have to be formal to be effective, and that the main purpose of a formal education is to get a better job.nnBasically, a college education is an investment
August 13, 2007