All in Personal Finance

Book Review: EVERYDAY MILLIONAIRES by Chris Hogan

I might be unusual in the fact that I couldn’t wait for this book to arrive. Who else do you know that is excited about reading a book that would fall into the ‘personal finance’ section of the bookstore? But this book had been touted as a best seller, before it even went on sale, offering an inside view into the way “ordinary people built extraordinary wealth” and how I could do it too. And I wanted to know how to do that!

Time in the market is your money’s best friend.

I interviewed a bloke for an upcoming episode of my podcast and he had a lot to say about investing in individual shares and why he used to buy them, but now no longer does. He took the advice of a good friend when she told him, back in the 1980s, just buy into today’s equivalent of an index fund and let time in the market be your money’s best friend. Low and behold, she was correct.

Sharesies have made a few tweaks...

Sharesies have been making a few tweaks to their system. If you already use them they will have emailed you (but if you are like me, you may not have read it) and I felt the changes are worth mentioning for those investing with them already or for those thinking about doing so. Sharesies is now “tidier” to use and I think probably less confusing for newbie investors too.

My cars cost $195 per week!

Have you given any thought to how much your car costs to run? I’m not just talking about how much petrol or diesel it uses. Until now I don’t think I had ever totalled up all of these costs specific to my vehicles. But after getting a question about cars, I decided to look into it a bit further and now its a case of “you can’t unsee what you have seen” dammit!

Credit Score. Good or Evil?

How important are credit ratings? A credit rating or a credit score is simply a rating of how well you manage DEBT. A high credit score is not a badge of honour, it's not an indicator of your net worth or your ability to earn money, it instead indicates how often you have taken on debt (and paid interest) and how well you have paid it down.