What is the biggest money problem you have?

[money blogger]

Hey all,

I am just wondering what your biggest money problem is. Is it how money works in general? Is it how to get out of debt? where to invest?....etc?


I would be interested to know.

Thanks

[y26]

Investing.... how to make savings grow...

[segmond]

making millions non stop.

[money blogger]

making millions non stop.

Without working?

[disneysteve]

I don't really consider it a problem - more of a challenge - but I'd say how to make sure we have enough to retire at a decent age. I'm shooting for 62. I'd love to get out before that but I don't see that happening.

[cschin4]

Where to put it all!


Ha! Just kidding!

[kork13]

Where to put it all!

I would actually say this really is my biggest money challenge... Knowing how to smartly invest my money, knowing where I should put my money so it can do the work for me that I want it to.... Not to say that I have boatloads of money (not even close), but I want to be smart about the money I do have, and I'm not always sure the best way to go about it.

[Fizgig]

Mine is more a career problem. I'm looking at a 90% chance of a layoff in October, and my field is a very small niche of engineering that's currently "out of fashion". I've piled up enough cash to hold me over a year, but the thought of not working or changing fields from the one that I love is pretty depressing.

[Ima saver]

My problem is getting enough interest for all of the cash I have in savings.

[segmond]

Without working?

of course, while working, and working very hard.

[money blogger]

Mine is more a career problem. I'm looking at a 90% chance of a layoff in October, and my field is a very small niche of engineering that's currently "out of fashion". I've piled up enough cash to hold me over a year, but the thought of not working or changing fields from the one that I love is pretty depressing.

So different ways of earning income would be of a benefit to you then?

I always find it a major plus if you can earn income several different ways. Multiple streams of income by Robert Allen is a great book on this subject. I currently make money 4 different ways, so I am protected should anything happen to 1 stream of income.

Thanks,

[money blogger]

of course, while working, and working very hard.

Check out multiple streams of income by Robert Allen. Great book. It's all about how to create multiple streams of passive income.

[segmond]

Check out multiple streams of income by Robert Allen. Great book. It's all about how to create multiple streams of passive income.

thanks. lol, i'm working on it. my idea is different tho, i don't like the idea of multiple streams of income. it sounds fun to have 5 investments bringing you in $2,000 a month with no effort. but i rather make $20million in 3yrs and retire. then let interest rates and savings be my passive income.

[PetMom]

With our electric co. jolting our electric prices up yet again and water/sewer going up a whopping $15.00 increase per month - and all the other things that keep going up (except it seems some consumer goods), and health insurance going up, and et cetera...

My biggest money concern keeping a savings rate with these costs going up so much. Then add in any emergency savings drainings and you find out your priority is to get the ef back up but it just is not as easy as it used to be even 4 years ago.

We live in a modest little home neighborhood and I asked what our neighbors are paying for electric rates. One, whose home was just insulated, done up with energy savings things spent $450.00 in one month on electricity. Ours was $305.00 for a winter month and quite frankly we were shocked until we compared our bills with others.

Retirement funding is going along fine, we are covered with all sorts of ins. coverage, fantastic job security, no credit cards at all, but it is the cost of things that gets me going.

Passive income sounds wonderful but I might be wanting to really find out about solar power, vegetable oil homemade gasoline, a backyard/frontyard garden and chickens hidden in a room to produce eggs.

[Radiance]

1.-Retirement funding, I havent even started.
2.- Patience, I have a plan to elliminate debt and to build a decent EF, but it takes TIME!....

Debt ellimination would take 10-14 months
EF of 6 months income would take 2-3 years

3.- Build passive income, multiple sources, I really want more time freedom!
45 hours a week between working and communiting, 50 if you take into account I have to have my lunch hour at work because I work far from home. Too much time, I want to take it down so I can spend more with my son. Purposefully working on it!