This Budgeting App Makes Your Personal Finances Simple

Save more and meet your financial goals with help from Wallet. March 14, 2020 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. When you’re running a business, you’re constantly looking at the big picture. But when you spend so much time looking at your business’s future, it’s easy to overlook your personal financial future. Separating your personal and professional finances is key to running a business, but as revenues grow, it’s easy to get confused. Wallet makes it easier to stay on top of all of your personal financial goals and keep tabs on your money. This personal finance app surfaces all of your personal financial accounts in one place so you can understand your financial situation in […]

Read more

Why Your Parents Are Wrong About Money

Your parents mean well, but if you’re a Millennial, their financial advice may be outdated. December 26, 2019 1 min read Opinions expressed by Entrepreneur contributors are their own. In today’s world, your parents’ financial advice may no longer be useful. In this video, Entrepreneur Network partner Phil Town explains you why their investing advice might be wrong. Related: The No. 1 Thing That Matters in Investing Read_More Related posts: College Dorms Are So Expensive that Some Parents are Buying ‘Kiddie Condos’ for Their Teenagers to Live In This Young Entrepreneur Explains Why You Shouldn’t Fear Being Wrong We Grew a Company From 12 to 150 Employees in 4 Years. Here’s What We Did Wrong. The Right (and Wrong) Times to Sell Your Long-Held Stock 10 Reasons Why More Parents Should Become Entrepreneurs Give Working Parents What They Really Want: More Time Far Too Many ‘Adults’ Still Using Parents’ Phone Plan […]

Read more

Budget, Save, and Plan Your Financial Future With Toshl

This top-rated app takes the stress out of managing your finances. December 7, 2019 2 min read Disclosure: Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, Entrepreneur may get a small share of the revenue from the sale from our commerce partners. Life comes with loads of responsibilities. From your job to your kids to your personal wellness, you’ve got enough on your plate without having to stress about your financial health, too. Unfortunately, finances are an essential part of life. You can’t eliminate your financial responsibilities entirely but you can eliminate some of the stress with Toshl. With a 4.6 rating on Google Play and a 4.7 rating on the App Store, Toshl Finance stands out among the sea of finance apps. Toshl automatically connects to your bank and credit card accounts to track your finances and […]

Read more

The Importance of Being Thankful for Your Investments (and for Your Life)

Never underestimate the power of gratitude. December 6, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains how to remain thankful in life and in finance. He describes a snowball effect, where the more you prepare to be grateful, the more things you will find to be grateful for, after which more positive things will flow to you. As a starting point, you can thank those who have taught you valuable life lessons. These people have imparted advice to you that you were formerly unaware of, so try to honor them when you can. Simlarly, if you wish to be thankful as an investor, invest in companies that are important to you. Putting your money behind a certain company is equal to communicating you support its vision of the world.  Click the video to hear more about tactics for showing gratitude. Related: Financial Quiz: […]

Read more

How the Simplicity of ‘Millionaire Math’ Can Make Your Goals a Reality

Think in small steps, then earn big. December 4, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Jeff Rose discusses how following a series of simple steps along with adopting a particular mindset can lead you to finally making a million dollars.  Start by applying some simple math: If you want to make a million dollars in one year, you will need to earn $83,333 each month, or $20,830 each week, or assuming a 40-hour work week, about $520 each hour. While you’re making this money, keep tabs on your overall timeline, and its fluctuations, in terms of how long it will take you to reach $1 million. To achieve a large goal, you must be willing to put in the work. Unfortunately for many people, since big goals can seem so far away and difficult to envision, it’s difficult to make a solid plan. But, by making a […]

Read more

What Not to Do With Your Money

You’ve worked hard to earn your money. Here’s how to avoid completely throwing it away. October 30, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Jeff Rose discusses five things you should never do with your finances.  Do not gamble. Rose points out there are tons of other ways to use your money, including investing it rather than trusting pure luck.  Do not have too much of it sitting in cash. It is wise to have a little cash for savings and emergency, but too much cash sitting outside of a proper account simply being complacent with your money.  Do not buy things you don’t understand. Even if something is all the rage, you don’t need to invest in it if you simply don’t know the intricacies of it. As an example, Rose points out how many eager people clamored to invest in cryptocurrency […]

Read more

The Secret to Getting a Job That Pays 6 Figures

The marketing guru talks about how he reached six figures. October 24, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Eric Siu discusses how he landed a six-figure marketing job.  Siu talks about how the first marketing job he landed, which he eventually turned into a six-figure job, began as a freelance gig. Over time, with relentless commitment and engagement as a freelancer with the company, he secured the full-time position. However, that meant he needed to move to the company’s location in Philadelphia.  Though the opportunity seemed tempting, especially from a financial perspective, he realized he would not enjoy living in the location of his new job. Philadelphia did not, as Siu puts it, fit his personality, and he suspected would not make him happy. By reaching this realization, it became evident to Siu it’s not all about money when you secure a high-paying […]

Read more

How to Manage and Balance Your Family Finances With a Single Income Stream

Here’s how to live and properly talk with your partner about subsisting on one household income. October 18, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town discusses how to save money for your goals when you only have one source of income. Town recommends the following: Create a strict budget. The budget will be divided into three categories: Essentials Investing Non-essentials Communicate with your partner. Often, the partner who is not earning an income can feel left out. In order to balance this dynamic, the individual who is earning the majority of the money can pass the management of the money over to his or her partner.  Keep your lifestyle in check. Spend within a reasonable budget on the essential and non-essential items. Town emphasizes there is a unique merit to buying items used — in fact, his own childhood experiences buying used items helped instill […]

Read more

The Right Moment to Buy a Stock at a Great Price

October 11, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner, Phil Town explains how finding just the right time to buy a business is key. How do you establish a margin of safety to make sure you are safe in future years, and how do you determine the sale price that tells you it’s the right time to buy a company?  To determine the margin of safety of the business, and determine whether it is ready for sale, start by understanding the business as much as you can and understand what will protect it. Next, set a goal of 10 percent yield for the year. If you are able to meet this level of profit, you are doing great for the year.  Watch the video to hear more strategies and turn a profit. Related: 5 Financial Choices You’ll Regret Entrepreneur Network is a premium video network providing […]

Read more

5 Financial Choices You’ll Regret

We all make mistakes, but we can make fewer if we remain mindful. October 4, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. Regret, especially finance regret, can stick to you. In this video, Entrepreneur Network partner Phil Town discusses a handful of bad financial habits to keep an eye on. Here are five circumstances that might lead to financial regret.  Not having an emergency fund.  Lacking an automatic savings system. Not having health insurance. Buying things to keep up with others. Not investing enough in your own financial education. Town mentions that he was lucky enough to get a solid education in finance, but many people are not so lucky. This education should offer training outside speculating and diversifying stock choices.  Click the video to hear more.  Related: The Indicators That a Market Crash Is Approaching Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and […]

Read more

How Do Millionaires Spend Their Money?

Not all of the wealthy spend like they’re wealthy. September 13, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town busts some of the myths associated with millionaires, including their spending habits. The two most signicant myths Town describes are the following: Millionaires are irresponsible with their money and/or spend it frivilously. Warren Buffet lives in the same five-bedroom home in Nebraska that he bought in the mid-1950s. Bill Gates, the founder of Microsoft, and Sam Walton, the CEO of Wal-Mart, both drive relatively humble cars. These big-name execs prove that you don’t need to spend like you’re a millionaire when you do reach millionaire status.  Millionaires take a lot of risks. Though the running assumption is that millionaires consistently take big swings. In reality, millionaires are often the best at taking calculated risks. What is surprisingly common is how millionaires […]

Read more

Why Millionaires Don’t Invest in These 4 Things

Phil Town describes some tactics rich people don’t use to grow their fortunes. August 9, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains how the rich often grow their wealth differently from others. Here are some of the common investments wealthy people avoid: Bonds. These investors are just interesting in maintaing their capital and not interested in compounding their money.  Prepaid plans. Gold. Investing into something that you cannot immediately turn into cash is a risk. Gold, inevitably, is not an asset that earns money over time.  Trends. Town references a modern-day phenomenon, cryptocurrency, as a trend that is taking off. Town personally knows a lot of people who invested in cryptopccurency and lost it.  To hear what methods Town recommends, and the method millionaires swear by, click to watch the full video.  Related: Adopt These Smart Money Habits When […]

Read more

Can Investing Make You a Millionaire Overnight?

Phil Town breaks down some misconceptions about investing. July 26, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town describes the difference between the expectations and the realities of investing. Town explains that many financial advisors often do not have a personal interest in how well their clients’ investments perform.   Town notes that one of the best strategies you can adopt when investing is to be patient. Patience is a key investor trait, one that is more integral to successful investing than natural intelligence. In order to make your best investing decisions for real life, Town lists a few misplaced expectations surrounding investing.  Investing will make you rich overnight. Though investing can make you rich, you must be patient. Overnight successes, Town says, make for terrific stories but are extremely rare. Effective investing will not make you a millionaire overnight, but it can make you a millionaire […]

Read more

The Right (and Wrong) Times to Sell Your Long-Held Stock

If you’re looking to sell, do a review of this convenient list to confirm you’re making the right decision. July 5, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Phil Town details a few instances where it is a good — or bad — idea to sell a long-held stock.  According to Warren Buffet, the most ideal investment is one which you can hold onto and watch grow for an infinite amount of time, building your money over long durations of time. However, if you are considering selling a stock — these are a few times where it is very wise to sell. For one, if a company has changed its company story, especially one that seemed to be the crux of its identity, it could be time to move on. Town also recommends selling when you are presented with a better opportunity. Even if your […]

Read more

Want to Improve Your Investing Habits? Try Warren Buffett’s Circle of Confidence.

Make your financial strategy sleeker and more customized to your passion with this concept. June 14, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. According to Entrepreneur Network partner Phil Town, if you want to become a successful investor, you should develop a circle of competence. A circle of competence is an aggregation of all the things you have expertise in, and Town says you should focus on making investment decisions on topics, businesses and industries that fit within the circle. To further narrow your search and identify possible investments, you should look at the companies within your circle that match your values.  Click play to learn more about how you can define your circle of competence and make better investments.  Related: The Pros and Cons of Investing in a Stock Index Entrepreneur Network is a premium video network providing entertainment, ewitducation and inspiration from successful entrepreneurs and thought leaders. We provide expertise […]

Read more

The Pros and Cons of Investing in a Stock Index

If you lack the time and resources to research individual companies, then investing in a stock index could provide a substitute. June 7, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town about the benefits of investing with an index.  As always, Town stresses the importance of doing research before your start investing. However, if you’re strapped for time and resources, you can turn to index investing. Individual stock investing triumphs over index investing, since individual investments can fluctuate but are not reliant on the market’s movements. Town points out that an especially solid company can weather even the worst financial recessions. Indices tend to perform, in the long-term, as well as the overall market. That said, there can still be benefits to investing in an index. Click the video to hear more from Phil Town.  Related: These Tips Can Help You Discover Which Stocks to […]

Read more

The Psychology of Money and Wealth with Ramit Sethi

Pat Flynn: So I like to mix things up here on the Smart Passive Income Podcast. This is a very different kind of episode, you’re going to be transported to the city of New York. I actually conducted a walking interview, through the city of New York, with a good friend of mine, Ramit Sethi. I was in New York for some interviews and to meet some people and some retailers, related to the SwitchPod. And I was there with Caleb and he said, why don’t we just try this thing? And so we did it, it’s a learning process. You’ll hear at the beginning of the episode, my mic was a little bit hot because I was holding it close to me. You’ll also probably hear how cold I was. I was losing my breath a little bit, because it was twenty-five degrees Fahrenheit. Which for me, being from […]

Read more

These Tips Can Help You Discover Which Stocks to Buy

Don’t just go with your gut when it comes to your finances. May 31, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town explains what to do when researching a company you might want to invest in. There are tons of resources you can turn to, including specialty reports and tipsters. Town recalls an old saying that “very smart people can do very dumb things.” So, take a step back from all the noise, stop listening to others and do your own research.  Town also recommends avoiding companies that fail to demonstrate consistent growth, and that you should always buy stocks with a margin of safety attached. That way, you will have a cushion to make mistakes in case your chosen companies don’t perform as expected. Click play to hear more from Phil Town.  Related: 6 Bad Habits That Can Cut Into Your Retirement Savings Entrepreneur Network is […]

Read more

6 Bad Habits That Can Cut Into Your Retirement Savings

If you’re close to retirement, keep an eye out for these bad habits and save more for retirement. May 24, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town discusses some traps 40-year-olds should be wary of before retirement. In your 40s, you are ideally at a state where are actively earning more, saving more and also perhaps traveling more. But as you are circulating through these activities, you have to be wary of certain habits that will dip into your savings. They include: Spending too much on your children, especially if you start dipping into your retirement savings to support your children. Leave your nest egg alone if at all possible.  Failing to take care of yourself. Keep tabs on your fitness, your diet and your wellness. You may just be able to avoid some medical bills and pocket the savings.  […]

Read more

Want to Save $10,000 This Year? These Tips Can Help.

Here’s how to end the year with some extra cash in your bank account. May 10, 2019 2 min read Opinions expressed by Entrepreneur contributors are their own. In this video, Entrepreneur Network partner Phil Town talks about strategies you can use to improve your annual savings like compound interest. Town also recommends that you should pay yourself first with each check — that is, putting money into a savings account that you won’t touct before you’re tempted to spend it. Then, you can live on what is left to stay the course of your savings goal. Even if you’re only able to put away a little each paycheck, it can still make a big difference by the end of the year. Click the video to hear all of Phil Town’s tips for building your savings this year.   Related: Red Flags You Should Look for in Quarterly Earnings Reports Entrepreneur Network is […]

Read more
1 2