Financial Excellence

22 Jun Myths vs. Truths – The Truth About Joint Bank Accounts

- Exposing the false beliefs of the financial world Myth: Keeping separate bank accounts is a smart way to protect yourself and avoid money fights with your spouse. Truth: Keeping separate bank accounts breeds distrust and helps separate spouses by encouraging money fights. Here's why: When you have one joint account, it forces you to talk about the money and where it is going. There is an element of accountability when you know your spouse will find out if you bought something. When you know that accountability is there, you won't buy something that you know you shouldn't buy.
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19 Jun Book Review: Rich Dad, Poor Dad

What books are you reading to improve your situation in life? I recommend Rich Dad, Poor Dad by Robert Kiyosaki. Robert does a great job explaining how to change your outlook on your possessions (assets) and encourages you to start looking for ways to make...

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15 Jun Myths vs. Truths – The Truth About Extended Warranties

- Exposing the false beliefs of the financial world Myth: Extended warranties and service contracts save you maintenance costs over time. Truth: Extended warranties and service contracts make the salesman a lot of money, and rarely pay off for you. They are designed to play with your emotions and your sense of security so the seller makes more money. Statistically, these pay off for the finance or insurance company. That's why they push them so hard. It's estimated that 85% of extended warranties don't pay off, meaning 85% of the time you bought the warranty but didn't need it. Need a little salt in the wound? Depending on the type of product you buy, the profit margins for the salesman often top 70%! In many cases, the salesman makes more commission on the extended warranty than he does on the product itself. So how do you survive without an extended warranty? If you follow
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