Ah, the New Year. We all make resolutions. And often, we think ahead to what we would like in life. And one of the things many of us wish we had is more money. The good news is that you can get it. But you have to make a resolution to save money this coming year. Here’s how to do it:

Set a goal to save money in an account every month. Make it a manageable amount. Parse it down so that you do it every week, or twice a month when you get paid. This way it’s not such an …read more

One of my best sources for inspiration comes from other people’s questions. So, I’ve started an “Ask the Piggy Bank.” You can drop me an email with personal finance questions, and every so often I’ll answer them on Yielding Wealth.
Today I’ll start with a great question from an associate of mine in the blogging world:
“I have a couple of thousand dollars that I would like to put away.
Currently, I’ve been using CDs, but are there any other good, low-risk
areas I can put the money? I don’t need it for at least a year or so.
Oooh. Good question. Especially in the …read more

Sometimes when it comes to yielding wealth, you think you’ve heard something a million times. But, with such things, it is often the case because it bears repeating. Saving money is one of those things.
“Pay yourself first”
This is a concept that few people really grasp. But it is still true nevertheless. It is very important that you pay yourself first. Before you spend your money on other things, you need to set it aside for later. Try and arrange your budget so that you are living only on 70% to 80% of your income. If your company offers the option, …read more

One of the keys to yielding wealth is financial planning. And you can’t have good financial planning unless you set financial goals. Defining your financial goals is an important part of the process. So, clear out an hour or so (or even clear out 15 minute chunks to tackle one goal at a time) and make defining your financial goals a priority.
Keys to defining your financial goals
When defining your financial goals, it is important to keep a few things in mind:

Be specific. You have to be specific. If you want money for a vacation, set this financial goal: “I want …read more

One of the slowest investments is a savings account. Oh, it’s an investment. You just don’t think of it that way because it happens to grow at such a snail’s pace. But it’s an investment. If you want to boost your yield (and you should want to!), you should take a different approach. An online savings account can give you one of the safest investments, and quintuple your annual percentage yield.
Online savings account
When you go to a traditional brick and mortar bank and open a savinga account, the pitiful return seems hardly worth it. Less than 1%. But if you …read more