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Tim McMahon

Work by editor and author, Tim McMahon, has been featured in Bloomberg, CBS News, Wall Street Journal, Christian Science Monitor, Forbes, Washington Post, Drudge Report, The Atlantic, Business Insider, American Thinker, Lew Rockwell, Huffington Post, Rolling Stone, Oakland Press, Free Republic, Education World, Realty Trac, Reason, Coin News, and Council for Economic Education. Connect with Tim on Google+

Save on Groceries

Family Finance Tricks to Help You Save Instead of Spend

Frugality / By

The growing cost of raising a family has many people looking for ways to save money. However, most folks don’t want to drastically change their current lifestyle just to save a few dollars. Luckily, there are a few simple changes you can make that can save you hundreds of dollars each year without making you too uncomfortable. Take a look at these 4 family finance tricks that can help you save instead of spend.

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Term vs Whole life

When Should You Get Life Insurance?

Life / By

At the height of your youth, you may feel invincible to some extent. This is especially true for single people in their 20s or 30s who are free from the physical, emotional, psychological, or financial responsibilities of having a family and are at the peak of health even after some questionable life choices when it comes to their diet and other everyday habits. That sense of reckless abandon when it comes to dealing with finances and health can make people shortsighted when preparing for their future. Young people these days tend to splurge on the latest gadgets, fashion, or on eating out (which is costlier than buying ingredients and prepping your own food) and seem deliberately oblivious of the risks to their finances when they make these purchases.

When Should You Get Life Insurance? Read More »

Unexpected Car Repairs

Ways to Finance an Unexpected Car Repair While Sticking to Your Budget

Frugality / By

Car repairs are one of the most common budget busters around. An unexpected fuel pump failure, worn-out brakes, or a punctured radiator can cost several hundred dollars to have repaired. Most budgets don’t have that much flexibility built-in, but there are ways to handle an unexpected car repair. Here are some ways to handle your car problems.

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Buying a car deal

Car Hunting on a Budget

Car / By

We strongly recommend only buying a car that you can pay cash for. Even if you just start with an old “beater” and then take the money that you would have spent on payments and pay them to yourself until you can afford to buy something better. However,  most people don’t have the cash to buy a car and don’t follow this “beater” system. Thus, they must finance their vehicle and end up paying extra for interest. To make matters worse, some buyers make the mistake of not doing their homework, and this causes them to lose hundreds or even thousands of dollars in a bad deal. Read on for advice on buying a car on a budget.

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Selecting Contact Lenses

How to Decide Which Contact Lenses Will Be Best for You

Health / By

Glasses and contacts can be expensive but when it comes to your eyesight you want to be sure to do it right. When it comes to contact lenses, you have a few options to choose from. You can get contact lenses that you throw away on a daily basis or weekly basis (called Soft disposable lenses), or you can get the kind that you can wear for longer periods before tossing (called extended wear lenses).

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Good vs Bad Debt

4 Tips for Staying on Top of Your Debt

Debt / By

Debt can be an effective means to an end (such as home ownership) but it does need to be managed. Experts like Robert Kiyosaki say that there are two types of debt “good debt” and “bad debt”.  Good debt is debt that “puts money in your pocket” and bad debt “takes money out of your pocket”. Examples of good debt are loans to start a business, buy rental housing, etc. Bad debt is consumer loans and car loans. A home purchase is actually borderline because it is an asset and its value generally keeps up with inflation but it is more like a forced savings plan (that you have to maintain) rather than a good investment. In our article The Wealthy Buy Assets, the Poor Buy Liabilities, and the Middle Class Buy Liabilities Believing They Are Assets we discuss this in further detail. 

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Commonly Overlooked Budget Expenses

4 Overlooked Financial Costs to Include in Your Family Budget

Budgeting / By

If you’ve read any of our articles you know that we believe that creating a family budget is critical to effectively managing your finances. This is especially true if you want to get out of credit card debt, since you need to be sure that your expenses don’t exceed your income. Unfortunately, many people create a budget and think everything is fine and then when the end of the month rolls around they still are “short”. This is often the result of “missed” expenses. Here are a few financial costs that are often overlooked:

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