Living Below your Means: Not as Hard at All

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Unfortunately, financial problems are a part of life and sooner or later everybody face them. But while some people can’t get out of a debt cycle, others try to live within their means and have a need to deal with money problems quite seldom. The question is: how to make your lifestyle frugal and learn to live with what you have? Is it necessary to sacrifice by something to get your financial life in order?

Is it possible to leave all your bad spending habits aside and manage money wisely? There are a few tricks proving that frugal living doesn’t demand great sacrifices. Besides, you can always learn from the best. Find out more about everyday life of frugal billionaires.

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Optimal Way to Calculate the Minimum You Can Retire With

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how much money do you need to retire
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So, how much do you need to save to retire? Can you retire with $1 million dollars, for instance? The answer is “yes”. However, you may also retire with more or less money.

What is more, it can be pretty complicated to retire with $10 million dollars. It all depends on the personal situation. Thus, for different people potential minimum varies. The only thing that is similar is that nobody wants to make their retirement years a struggle for existence barely being able to make ends meet.

The majority of financial advisors state similar number, which is also called the holy grail of the retirement analysis: the 4% sustainable withdrawal rate. So, you can withdraw this amount of money and still consider your portfolio to last over 30 years.

This is the easiest way to define how much you need to save for the desired retirement and how long your retirement money will last.

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Advantages of Repaying Your Debt with 401(k) Plan

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Did you know that college students usually graduate with about $25,000 in student loan debt? Statistics shows that about 1 million graduates have debts after graduation, which can be higher than $50,000. Having such big debts it may be tempting to withdraw funds from your 401(k) plan as it seems they are just collecting dust until you retire.

In this article, we are going to share with you some useful tips on how to pay off credit card debt and when repaying the debt with 401(k) account makes sense.

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Why 0% Credit Cards Aren’t the Best Choice Sometimes

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It’s hard to find someone who wouldn’t like to get something for free. As for interest rates and loan deals «0» is a magical number and that’s why consumers literally chase after such offers. Most of them think that there’s nothing better than interest- free credit card.

Quite often people use such cards to deal with the massive debt they have. Opportunity to use the money within definite time period attracts many but not everybody knows that when interest free period will be over then high interest rate will be charged.

Consumers must understand that there’s nothing the credit company will do without making its profit. If there’s something for free then start looking for downfalls.  In any case, there are lending products which are good alternatives to interest-free credit card.

Bonus: Learn how to get free money from the government.

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How Personal Credit Score Can Impact Your Business

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On one hand, the majority of entrepreneurs view business credit as a tool that may help their business expand and grow much faster.

On the other hand, credit may be a hard concept to master. Sometimes things get even more complicated and the business can’t stay afloat when it comes to applying for business credit.

Did you know that your business’s credit approval depends on your credit score and can either be hindered or improved by it? In this article, we are going to talk about a few cases when business credit can be influenced by the personal credit history and score of entrepreneurs.

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