posted at 01:50
Author: Todd Wasserman
15 tips on turning your finances around in 2015
If you enjoy a period of relative calm, then you can save some real money. Many people work very hard to pay off their mortgages when they would be better off, in a cold, financial sense, if they kept their mortgage and invested their money instead. If you're paying 4% on your mortgage and getting a tax break that makes it more like 3%, then you'll make more over the course of a year if you put that $100,000 into an index fund making an 8% return. Personal finance blogger J. Money of Budgets are $exyrecommends taking the big picture of your finances by looking at your net worth with apps like Mint and Personal Capital. It's not savings until it goes into a savings account. Are you really "Saving" that money? J. Money says not really, unless you're actually putting $150 more into your savings account every month. Personal finance isn't just about saving money. Finance blogger Mr. Money Mustache is known for being so hard core about saving money that he rides his bicycle everywhere instead of wasting cash on gas. "Most of the things worth saving for require massive amounts of money. Then, when our New Year's Resolution euphoria wears off in February, we don't see enough progress to keep our motivation levels high. So we quit."

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