How to Pay Off Credit Card Debt Fast (+my step by step guide with scripts)

Many people have gotten into really bad credit card debt and still managed to get themselves out of it (because they played their cards right). You’ve probably heard me tackle this on my podcast with episodes like “We have $4,600 in credit card debt but we spend $600/month on GrubHub”, “He won’t marry me until […]

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TikTok Personal Finance Trends Debunked

If you spend any time on TikTok, you’ve probably seen financial advice in many forms from investing to savings hacks. While some of the advice is good, some of it is bad and most of it is surprisingly entertaining. We’ll help you figure out which is which, so you can ensure your money is in the right places. Shouldn’t use: Investing advice A 2020 study from startup Paxful found that 64% of the misleading personal finance videos posted on TikTok mentioned investing in an individual company, like Tesla, Amazon or Alphabet. Many TikTokers also advocate for day trading, which means buying and selling stocks that day. While it’s possible to make money by stock picking and day trading, it’s much easier to lose money. If you manage to sell stocks for a profit, you have to set aside a portion for capital gains taxes . These are often excluded from the conversation. This can result in a surprise tax bill for investors. Many TikTok influencers also tout various cryptocurrencies as a...

How to Ask Your Manager for Feedback (& easily impress them)

Your manager is either your greatest friend, or your biggest obstacle. No matter where your manager stands on this spectrum, getting feedback from them is going to be a valuable resource for your professional growth so this is something you should be doing consistently at work if you want to get more promotions and raises. […] Source from I Will Teach You To Be Rich https://ift.tt/XNUxhGu

Pick: Instant $1 Million or 50% Chance at $50 Million? Personal Finance Isn’t Always About Math

Recently, I saw this (loaded) question on Twitter: The implication was clear – you should do the math on expected value: Red button is 100% chance at $1 million = $1 million Green button is 50% at $50 million = $25 million But what you pick depends on a variety of factors beyond the math. Table of Contents Note the Inherent Bias of Any Choice What Is Your Financial Situation? What Are These “Mo’ Problems” Consider Regret Minimization Remember This is Imaginary! Note the Inherent Bias of Any Choice Before we get into the choice itself – just note all the bias in this question. It starts with the term “mathematics” – to tell you that you should do the math and then pick the one with the higher expected value. Then you see how the buttons are red (stop!) and green (go!). Then there’s the reality that $1 million can change your life and if you immediately gravitate towards the “inferior” answer (mathematically) – maybe you’re a moron because you can’t do math. Or you’...

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