Money Management
Money501 is a blog all about money matters and Personal Finance and is another blog from the 501 Network. If you have been following our recent reviews you probably have a reasonable idea as to the sort and quality of the info on this site. This particular site is the latest and at the time of writing only has 4 articles posted.
As there is only 4, I’ll make a quick comment on each of them in turn. Tax Free Retirement - well this is something that we all aspire to! The article covers how your current savings, if done correctly can have huge tax advantages. Info is good, but a little brief. The next one, keeping track of your finances was not what I expected. I was expecting something about creating a budget and sticking to it. Everyone knows how hard this and that it really is a waste of time. How many people actually stick to a budget? Now, what the article was about was keeping track of your spending, so you can identify where you might be able to change your habits a little and have more money for other things. This particular strategey sounds like it is much better than creating a budget and not sticking to it.
With a title of Benefits of using Credit Cards I didn’t hold much hope for the next one. From personal experience, credit cards have kept me in debt for way too long! I read it with an open mind, and by the end, I must admit that the info was worthwhile. As long as you control the card and don’t let it control you I can see how useful it may be for some people.
The final post is all about income and quality of life. It is quite good at explaining that you may not need $80K to live very well on - you might be able to get away with earning $30Kand actually be better off! While I would prefer to be earning the former, and not the latter, you do get a good explanation - read it and decide for yourself.
I look forward to seeing more info on this site as it is off to a good start. As always, when dealing with finances it is always best to read everything and seek professioanl advice.
Visit www.money501.com
