Gather Little by Little

For those of you who watch professional poker or even play the game once in a while, you understand when a player is “on tilt”. Tilt is when a poker player is making decisions with emotion and not playing according to a disciplined strategy. Being on tilt is usually the result of an emotional reaction to the events of the game. A poker player who is on tilt can often be taken advantage of by the other players and if he does not get control of his emotions, his continued presence in the game is at risk.

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As Frank Hubbard puts it, “The safe way to double your money is to fold it over once and put it in your pocket”. Do you think this is the only way out to save more money? No, it can never be this. Man is subjected to temptation and no one can ignore the sensation that money gives. However, the smarter way for you is to think and spend, than spend to think. If you are a geek or love gadgets, here is something very exciting for you. iPhone applications can now boost up your finances.

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I am a numbers guy . . . a little obsessive compulsive . . . I like organization and strategic planning. I understand if some of you might think this kind of information is a little “wonky”, but I thought I would lay out our bank set-up for you and see what you think. This is the bank set-up that Mrs. Stew and I have used for almost four years now:

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Since I recently bought this blog, I keep going back in time through the GLBL history and read its previous articles. Larry has a great grasp on his personal finances yet we have a different perception of the very same topic. One article caught my attention: No Credit Cards; Here’s why. In this post, Larry was explaining why he wasn’t even carrying a credit card anymore. These pieces of plastic often have the strongest voice suggesting:

“You can buy it now, it’s on sale and you will save money!”

“Buy it now and you will have another 30 days to pay it back”

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No, not change in the quarter, nickel, dime sense, but change in the lifestyle sense.

Can a person change? Do people change? Will you ever be able to change your finance habits? Many readers of this blog are like I was over three years ago – spending more than I was making and starting to pile up mounds of debt. Other readers have successfully put that stage of life behind them and are starting to build real wealth – the rest of us are somewhere in between.

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Author: Mike

When we talk about personal finance, there are several rules of thumb that can help you build a solid financial plan. Here are a few numbers to remember when you want to improve your personal financial situation.

Aim for a Credit Score of 750

A credit score may vary from 300 to 900 but most people have a score between 600 and 800. A great credit score will open the doors to get better rates on:

- credit cards,

- insurance (car, home, life, etc),

- personal loans including car loans,

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I decided to share a few of my tricks to save money. Since my wife stays at home with our two kids, we must be careful with our spending and make sure we make savvy purchases.

We have lived together for the past 10 years. When we first started, we got all our furniture from friends and family. Absolutely nothing was new. While it was great 10 years ago, second hand furniture still has a maximum life expectancy! Recently, we had to buy a new bed for us (my mattress and my bed was 30 year old!) and another one for Amy (she just turned 2 so it was time for her to move up, into a real bed).

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I previously mentioned that I have been with the same girlfriend since the age of 15. We actually moved in together at a young age. As I was the only child in my family, I was fortunate enough to have my parents’ basement entirely to myself. I had a small kitchen, a pool table (that was actually my dining room table ;-) ), my TV with PlayStation and a huge double sized bedroom. I had asked my dad if we could remove the wall between 2 small bedrooms. I was lucky enough to have my own entrance and garage (the previous owner was renting the basement as a bachelor apartment). Life was great as a 16 year old teenager :-D

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Sometimes it really can be hard to control the small, impulse purchases. You know, the ones where you are just craving a burger, or a iced mocha or just one tiny, little candy bar. Maybe the temptation is not food for you. Perhaps you purchase the occasional movie through your cable service – just a couple of buttons on the remote for a great movie and just a small charge on your cable bill. What about that extra shade of lipstick or the scarf that matches only one outfit . . .but it looks great with your eyes?

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