If you are self-employed, are thinking about becoming self-employed or have side hustles this post is for you.  

Retirement plans are not just available to employees, there are plans available to you if you decide to step out on your own and start your own business.   

This post is the 2nd of 3 in the Retirement Plan Series that gives you the basics about retirement plans.  Check out part 1 here.  

If your employer does not offer a retirement plan or if you would like to contribute more outside of your employer-sponsored retirement plan, then a Traditional or Roth Individual Retirement Account (IRA) may be an option for you.

I heard about Qapital before but in January, I decided to try it out side-by-side with Digit (talk about cutting into my fun money).  So after trying out the app for the last 4 months, I'm ready to tell you my thoughts.

It's early morning, my eyes popped open and the anxiety starts to set in.  I look at the clock and it’s only 3:00 AM.   Why am I wide awake? I still have a few more hours of sleep. Why do I feel all of this anxiety?  If I clear my mind, I will fall back asleep.  "Think nothing, Think nothing."  I check the clock again and it's 3:45, ughhh....

It’s the beginning of the year and everyone is setting new resolutions and goals.  If you have not set your goals for the year yet, don’t worry you still have time.  The great thing is that you don’t have to set your goals for the year, you can set quarterly or monthly goals. 

Is it hard to talk to your spouse about money or you’re not sure how to approach your spouse about the household finances? Are you the one in the relationship more concerned about the details and your spouse...not so much? Is your spouse the spender and you're the saver?  

Every year, in December, I cash in all the loose change I saved for the year, at the Coinstar Machine and it is usually between  $60 - $100. I probably would have more if I would completely commit to saving my change (if it is still in my wallet I may use it on purchases). I will challenge myself to save all of my loose change for the month in January and see what happens.  

In the beginning the motivation to pay off your debt is high and you are excite to achieve financial freedom but there are a few reasons that you may loose your enthusiasm.  One could be the time period it takes for you to reach your goal or it could be frustration from unexpected expenses that throw you off of your plan during the payoff process.  We are going to talk about the latter.  

Wealth building comes in different forms and through consistent work.  There are steps you can take to put yourself on the path to building wealth early in life without a lot of money.   One way is by building up your cash reserves aka your savings.  There are additional wealth building opportunities that you need to participate in, such as, increasing your streams of income and investing but we are going to focus on building up your savings first so you will have the money to invest in those opportunities when you are ready.

Budget.  Some people despise the thought of setting up a budget so much, that they don't even want to to hear the word budget.  I think it's because the word budget sounds restricting and it has a history of being used in a negative light. For example, your parent loses their job so now your family is on a budget or your employer is having budget cuts so now they are having  layoffs.  I have also heard someone say a budget tells you how to spend YOUR money but who wants to be told what to do with their money?