“It’s a jungle out there.”
That was part of the theme song for Monk, one of my favorite detective shows when I was younger. Ironically, it seems to adequately summarize the world of personal finance and investing.
America’s national debt is approaching $20 trillion, consumers are drowning in credit card debt, and record numbers of recent college graduates are trying to figure out what to do about the tens of thousands of dollars they owe in student loans.
To make things even more complicated, the stock market has lost half of its value twice in the last 15 years. Even bonds funds, which are supposed to be safe investments, may lose their value as interest rates start to rise again. Meanwhile, savings accounts yield a fraction of a percent in interest.
So what in the world are we supposed to do with our money?
The majority of the population struggles just to stay afloat financially, hoping to one day live debt free. At the same time, those with extra cash to invest don’t necessarily understand what investments to choose. Market terminology is highly specialized and confusing, markets move up and down seemingly on a whim, and financial commentators use terms like “p/e multiple,” “FANG,” and “Fibonacci Retracements,” as if anyone knows what those words mean.
That’s why I chose to start The Declassified Dollar. I want to help people just like you understand the jungle of personal finance.
But first, let me make you a few promises.
- I’ll start with the basics: budgeting, saving, and chipping away at debt.
- I won’t use ridiculous headlines like “pay off your entire mortgage faster than you ever thought possible with this one simple trick!”
- I won’t use financial jargon to make myself sound smarter than I actually am.
- I’ll try to have some fun along the way
This blog is not for billionaires and hedge fund managers. It’s for the average Joes of the world who just want to get out of debt and invest in safe assets that will allow them to buy a home, put their kids through college, and enjoy retirement.
I’m not a financial professional. As a matter of fact, I’m just a normal guy, so I’ll keep things simple, focus on real-world problems, and do my best to help you take control of your finances.
If you want to find out who I am, click on the “get to know me” tab, and if you ever have a question about personal finance, shoot me an email or hit me up on social media. Thanks for checking out the blog, and come back regularly for new posts!