Below are my favourite personal finance content for the outgoing week.
- 6 Ways to Prevent Emotional Investing That Can Devastate Your Returns
Nothing burns the hands of an investor more than investing with emotions. We all know about the greed-fear cycle. We sell out of fear when everyone is selling because the market is down and we buy when everyone is buying because the market is up.
Successful value investors advise that we should not use our Mr. Market-driven emotions to make investment decisions. In this article, G. Brian Davis, writing for Money Crashers, helps us with six ways to avoid emotional investing. His tips include automating your savings, automating investments with a Robo-advisor, using dollar cost averaging, diversifying with index funds, automating rebalancing, and charting a thorough retirement plan.
Read the article here: https://www.moneycrashers.com/prevent-emotional-investing/
- Does It Really Matter When You Claim Social Security?
One of the significant retirement decisions you will need to make is the age you should start claiming social security benefits. While you are entitled to social security benefits at age 62, you do not need to claim it at 62.
In this article, Maurie Backman, writing for The Motley Fool, considers how the age you choose to start claiming social security can affect your benefits.
- The Truth About Debt Consolidation
In this video, Dave Ramsey answers a caller’s question about debt consolidation. He takes the time to differentiate between debt settlement and debt consolidation and offers a smarter way for people to pay off their debt earlier.
No one likes to be in debt, but when they come, managing them is of utmost importance. In a few minutes, Dave shows you a better debt management system.
Watch the video here: https://www.youtube.com/watch?v=pxTAyS1ZOBc
- 7 Reasons Why It’s Time to Change Jobs During COVID-19
One of the effects of COVID-19 is that many people are considering changing their jobs. An article on Business Insider shows that people in health and retail especially are considering other fields where they can get better benefits.
In this episode of the Ken Coleman show, Ken emphasizes this article’s points, providing some other reasons why many people need to consider changing their jobs at this time.
Watch the video here: https://www.youtube.com/watch?v=qqi65b0x210
- How to Save up to $1200 a year without sacrificing quality
We all want to save more money, but we do not want to sacrifice the things that bring us joy in life as well. The good news is that we don’t have to. We can explore significant ways to save money without sacrificing quality.
Grant Sabatier of Millennial Money looks at three things we can do to save more money right now. He unpacks the concept of recurring expenses and explains why saving money on recurrent expenses can have huge impacts.
Read the article here: https://millennialmoney.com/how-to-save-up-to-1200-a-year-on-cell-service/