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People email me all the time asking how to get rich. They are usually underwhelmed when I tell them there is no secret and definitely no quick way to do it. There are, however some general rules and principles that hold true. The Simple Dollar devotes much time to discussing these topics. Recently, I had the opportunity to read and reflect upon an article in Money Magazine entitled 25 Rules to Grow Rich By, a brief piece outlining 25 basic …

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This week, The Simple Dollar is conducting a detailed review of Suze Orman’s The 9 Steps to Financial Freedom. This title has appeared on countless personal finance shelves over the past decade; does the content inside hold up? We aim to answer that very question. The overall point of The 9 Steps to Financial Freedom is laid out clearly on the very first page of the book. The premise of the entire book is that conquering fears is the key …

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Last week, The Simple Dollar reviewed The Millionaire Next Door in detail. This week, The Simple Dollar is giving away the book to one lucky winner! Here’s how you enter: If you have a blog: 1. Dig around the archives of The Simple Dollar and find a post that interests you besides this one. You can explore the site using the search field in the upper right, paging through some of the recent posts (there’s a link to previous posts …

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Last night, I was reading through a personal finance book (one of the upcoming ones in the 52 Weeks… series) when I dozed off to sleep. In my dream, I was playing catch with Suze Orman in the outfield at Wrigley Field, and she kept shouting at me in that distinctive tone of hers that she was going to embarrass me on her show that evening, that she was going to tell the world that I had spent all of …

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Ever since I was young, I have had a number of daily goals for myself. Most of them seem rather mundane: commit a random act of kindness, read for at least half an hour, brush my teeth and use Listerine twice, and so on. Most of them have a clear metric for success. However, since I’ve begun to turn my finances around, I’ve added several daily goals to my plate that directly relate to finance. Here are these goals, along …

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While I was reading a thread at The Consumerist on ways to get started with credit, I found myself repeatedly shaking my head at the number of extremely questionable ideas that people were coming up with.  Buying CDs and using them as loan collateral simply to improve your credit seems like financial suicide to me. Then I came across this comment from “Eyebrows McGee”: Incidentally, if you are going to college, you can get your first credit card and buy …

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The general premise of The Millionaire Next Door is that the pop culture concept of a millionaire is quite false and that most actual millionaires live a very simple lifestyle. The authors, Stanley and Danko, did extensive profiling of people whose net worth defined them as millionaires along with those whose salaries and age defined them as likely millionaires and, using this data, created a detailed profile of who exactly a typical millionaire is. From there, extensive interviews with these …

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As a young man still more than a year away from the big 3-0, I have most of my adult productive years ahead of me. What are my goals during these years? Here, I intend to break them down by age. For the record, I will turn 30 in one year and eight months. At age 30… I want to have a net worth of $50,000. My current net worth is approximately $16,000, after being negative less than six months …

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The peak-end rule is a psychological phenomenon that indicates which parts of a past experience we recall and use to define that experience. From Wikipedia: According to the peak-end rule, we judge our past experiences almost entirely on how they were at their peak (pleasant or unpleasant) and how they ended. Virtually all other information appears to be discarded, including net pleasantness or unpleasantness and how long the experience lasted … One everyday example of the peak-end rule is how …

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Although I (really) like to bloviate about all sorts of personal finance topics, I keep many more thoughts on my own finances to myself. I’ve found that keeping a handwritten diary of my non-numerical financial thoughts has been invaluable (for the numbers, I use a computerized ledger). I personally use a Moleskine daily planner for my diary-keeping needs. Each page is quite large and lined just about perfectly for my writing style, meaning I have plenty of room on a …

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