Personal Finance Blog Posts - I Will Teach You To Be Rich

How to Close a Credit Card

If you believe that the first step to managing your credit is to simply close one or more credit cards, think again. Unlike the advice offered by Alec Baldwin and Ben Affleck to young salespeople, you should most certainly not always be closing! (Millennials: Baldwin reference is to Glengarry Glen Ross; Gen X: Affleck reference is to Boiler Room) ...

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Negotiate Your Credit Line Increase Like a Boss

A credit line increase is a terrific tool to improve your financial standing and experience life in HD. But there are rules. Not the kind of rules that will force you to walk across burning coals or recite the constitution. Rules that will allow you to apply for limit increases at the best possible time for the best possible rewards. ...

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How to Choose a Credit Card

Credit cards can be a great tool for improving your finances. Knowing how to choose a credit card will set you up for financial success for years to come. Table of Contents: The 4 rules for choosing a credit card How to choose between different types of cards Travel vs. Cash Back 4 rules for choosing a credit card: With ...

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Conscious Spending Plan: How to Budget by Looking Into the Future

So, you’ve been thinking of drawing up a brand new budget to reign in your spending. But there's a problem. You start a new budget with the best of intentions only to forget to follow through or you simply get annoyed with it. Maybe you’ll try again next month, right? The cycle goes on and ...

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Build Financial Health With Your Own Money Rules

Traditional budgets are for the birds. The word alone (budget) often harbors fear, laziness, and confusion. No one should have anxiety about ordering an appetizer at a special dinner or investing in a gym membership. Of course you need a spending plan, but we've come to realize it's never one-size-fits-all. The key to building financial health is yes, to give ...

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The Best Mutual Funds

Mutual funds can be an option if you’re looking for actively managed funds that are low risk and fairly diversified. When compared to index funds, though, there’s a clear winner. With mutual funds, you have to pay a higher expense fee. That’s because the fund is actively managed by fund managers. But with index funds, the fees ...

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How to beat the banks at their own game (and set yourself up for a Rich Life)

Banks, especially big banks, employ a system that charges you for things you don't need and shouldn't be charged for. In this post, we're going to learn how to beat the banks at their own game. How to Beat the Banks at their own game The bank you have--probably your neighborhood Big Bank--is most likely a big fat rip-off with ...

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Buying vs. Renting: Which is the best option for you?

What if you discovered that real estate isn’t as good of an investment as everyone says? I know, I know, everyone’s heard the story of some aunt who bought her house in 1970 for $100,000 and she sold it last year for $800,000. For most people though, that’s not quite how it works. Most people ...

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The Best Way to Save Money

There’s really only one way to save money. You have to spend less than you earn. For most people that means cutting back on lattes and going out less, but there are actually much better strategies for spending less than you earn. At IWT, we believe the best way to save money is by utilizing the CEO approach. ...

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Should I Invest in Stocks? – The Top 5 Reasons Why You Should

When people first try to take control of their personal finances, their first question is usually “Should I Invest in Stocks?”. Everyone has heard horror stories of someone losing their life savings in the stock market, so it can seem risky and scary. But mostly this is just noise. There is only one right answer to the question of whether ...

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