Category: Personal Finance

Editor’s note: This article was written by Camilo Maldonado who writes at The Finance Twins. The article was originally published on The Money Mix. Learn more about the Money Mix Insiders program. One of the easiest things you can do right away to start improving your financial situation is by cutting expenses. But nothing will propel…

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The great Albert Einstein said, “Compound interest is the eighth wonder of the world. He who understands it, earns it … he who doesn’t … pays it.” I couldn’t have said it any better myself. For anyone who wants to build lasting wealth and accomplish financial freedom, understanding and harnessing the power of compound interest…

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(Editor’s note: This post was originally published on The Money Mix.) Congratulations. You’re a doctor and your income potential is much higher than most. Once you get to the point that you’ve paid off your student loans and credit card debt, it’s now time to focus on saving and investing. With so much information floating…

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One of my tennis partners is also a local surgeon. His daughter is a LSU medical student also aspiring to become a surgeon. I recently spoke with her and her boyfriend (also a medical student and good tennis player too) recently. They were excited about finishing up their first year of school (especially gross anatomy).…

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I recently read the hard to find book, Simple Wealth, Inevitable Wealth by Nick Murray. In it, he discussed four behavioral tactics to be practiced during different “seasons” of one’s investing lifetime. One of the behaviors was: “Invest the same amounts monthly, in the same funds, so as to harness the power of dollar cost…

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To say we love going to Disney World would be an understatement. Well, I take that back. My kids and I love going but not so much Mrs. Debt Free. I’ve written several times about how spending money on experiences brings more happiness than buying stuff. If you’re looking for an experience to take your…

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Ok, Ok. I admit. I’m a bit biased on today’s topic regarding one of the best personal finance podcasts you should listen to. Denis and Katie over at the Chain Of Wealth recently reached out to yours truly for a podcast interview on their site. They’ve recorded over 150 episodes talking with members of the…

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When you hear about someone being a millionaire, you typically don’t picture them as being frugal. The phrase, “Frugal millionaire” is not something that typically goes together such as a peanut butter and jelly sandwich does. But, if you’ve read books such as “The Millionaire Next Door” and Chris Hogan’s new book, “Everyday Millionaires,” you’d…

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It’s amazing to me how God knows which doors to close in order to open new ones in our lives. When I look back to my first year of dental school in 1996 and then fast forward today, I NEVER thought I’d be doing the things I am now. If you would have told me…

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Here’s our latest interview with a debt free doctor (or soon to be). These stories allow us to continue to learn from those who are free of debt or currently on the path to do so. If you’d like to be considered for an interview, drop me a note and we can talk about specifics. Be sure to read…

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What Are Dave Ramsey’s Baby Steps? (Updated) I can still vividly remember where I was when I first heard the Dave Ramsey show. At the time, I was completing a dental residency in New Orleans. Honestly, I hadn’t given much thought to my accumulating student loan debt ($250K+) because I thought I’d make decent money…

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We love to travel. Honestly, we spend more on travel each year than any other category in our budget. A handful of people have asked, “Since you love traveling so much, why not buy a timeshare?” Doctors are suckers for deals. Especially timeshare deals. Salespeople feed off of our “desire for relaxation” because they know…

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