Macho Money Definitions - What Is A CD?

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Macho Money Definitions - What Is A CD?

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vid_whatiscd.jpgIf you hear someone use the letters “CD,” they are abbreviating the term “certificate of deposit.”  And according to Investopedia, a CD is A savings certificate entitling the bearer to receive interest.  A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination. CDs are generally issued by commercial banks and are insured by the FDIC.  The term of a CD generally ranges from one month to five years.

It can get a bit confusing, but for a more clear explanation with examples, click on the video and listen to Scott Halliwell from USAA.


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Entrepreneurship 101: The Main Reasons You Need a Business Plan

JasonAnderson.jpgYou have captured your small business idea, now what do you do? If you are like me, once the idea is seeded in your mind, you begin to brainstorm the best way forward. But what is the best way forward. Depending on your own personal experiences, getting your mind caged to help your idea might be one of the most challenging things you do.

I think one of most amazing aspects of starting a business is the pure creation of the endeavor. I think the concept of turning your thought, a series of synapses that fired in your brain, into an existing and tactile entity is one of the best attributes to being human. I personally think this pure creation provides is what provides deep satisfaction and feeds the soul of man and woman. Despite the feelings that great ideas provoke, it is still hard to see the path forward if you don't know how to proceed. This is where the business plan fits in nicely.

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How Much to Spend on Christmas Gifts

RobSitePic.jpgWhatever your Winter Holiday tradition, now is the time when many cultures have historically livened up the dark days of winter (in the Northern Hemisphere) with celebrations of community, charity, and gift-giving*.  Going into debt, however, should not be a part of your tradition.

How much should you spend on Christmas?


I'm big on using percentages when budgeting.  Except for the really, really poor or really, really rich, it makes sense to me that if Martha gets paid 50% more than George, then Martha can spend 50% more than George.  That generally goes for housing, cars, or Christmas presents. In other words, don't try to “keep up with the Joneses,” especially if you get paid less than the Joneses.  That's the idea behind the 60% Budget: keep regular, monthly expenses down to 60% of your gross income, so you can save 10% each towards retirement, long-term savings, and short-term savings; the last 10% is 'fun money' for Starbucks, beer, wine, pizza, McDonald's, toys, etc. Ideally throughout the year you've saved up enough in your short-term savings to pay for Christmas, even after you've paid for oil changes, shoes for the kids, and a trip to the beach over the summer.

 



 

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