Are You Making the #1 Financial Mistake?

After ranking top 3 in GoBankingRates’s Favorite Financial Expert of 2011 Poll (by the way, thank you again to all that voted!) they asked me to answer the question: “What’s the number one mistake people make with their money?”

So, instead of just giving a plain, vanilla, written answer, I rolled up my sleeves and shot a video so I could show you what I believe is the #1 financial mistake out there and how you can avoid or fix it in less than an hour!  In this video I walk you through how you can set up a system that guarantees you won’t have spent all your money on other things before you get around to putting your hard-earned dollars where they are supposed to go—to ensuring a richer future.

If you follow the action steps in this video and use the diagram that I show you, you will truly have a foolproof, no brainer, “set it and forget it” financial plan that, I promise you, will work! The plan to avoid this #1 money mistake is based on my New York Times Bestseller, The Automatic Millionaire and is updated for 2012. So, as I said watch the video, follow the diagram, it’s easy and, YES YOU REALLY CAN DO IT – so GET STARTED!

Hope this video helps you all and remember to let me know how great you feel once you “MAKE IT AUTOMATIC” by commenting below or on my Facebook.

Live Rich,
David Bach
 

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NBC’s Today Show – Money 911 – January 18, 2012

If you missed me on this morning’s NBC’s Today Show, Money 911 segment, make sure to watch it above, we answered questions about paying down debt, government grants, your FICO score, and most importantly borrowing from your 401k.

I have been seeing more and more questions about borrowing from a 401k these past few months on my Facebook page, on Money 911 and during Live Chats. So I thought it would beneficial to give you all a quick lesson on the topic and expand on my answer from Money 911 this morning. Watch the video I did and let me know if you found the information helpful by commenting below!

 

Live Rich,
David Bach

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NBC’s Today Show – Money 911 and Live Chat – January 11, 2012

Visit msnbc.com for breaking news, world news, and news about the economy

If you missed me on NBC’s Today Show –  Money 911 make sure to watch the segment above! We answered questions about what to do with store credit cards, how to juggle school loans and medical bills, and much more.

Plus, I had the chance to stick around after Money 911 to do a Live Web Chat on Today.com where 17,000 people joined me! I answered tons of AMAZING questions that I really think could help you. I answered questions from how I feel about the Market in 2012 to how to protect your family with life insurance. So, if you missed it, don’t worry you can read the whole thing HERE. Also,  make sure to watch the behind the scenes video I did below!


 

        Click HERE to get access to the Live Chat from Today.com!

Live Rich,
David Bach

Live Chat

Me at the Live Chat for Today.com

NBC’s Today Show – Money 911 – January 4, 2012 – Plus My Tip to Earn 3% in 2012

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Can you believe it? Today was my 100th segment on NBC’s Today Show! If you missed me this morning on Money 911 make sure to check it out now! We answered questions about investing, emergncy funds, credit scores and using your 401k plan for home improvements. 

Plus dont’ miss the special video I did below, where I share how YOU can earn 3% on your money in 2012! 



 

Enjoy!

Live Rich,
David Bach

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Today.com – How Many Credit Cards is Too Many?

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Check out my latest video from Today.com!

Question: I have good credit and have opened another credit card recently to get the travel rewards. I now have 5 credit cards open, but all with zero balances. How manycards is too many? And will my credit score be impacted if I close one or two of them?

My Advice:
- Five credit cards is too many
- Closing credit cards may impact your credit score
- Keep the credit cards open
- Continue paying them off on time
- If you choose to close one of the cards, close the one with the smallest credit limit

Live Rich,

David Bach

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Today.com – Should I Go Back to School for a New Career?

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Question:
I already have $30,000 worth of loans from my first degree. Should I keep working minimum wage dead end jobs to pay off this debt or work on getting into a field that will provide financial stability?

My advice:
- Continue working your current job and look for a new opportunity.
- Save money for the next 6 months to a year.
- Go back to school to launch a new career.

Live Rich,

David Bach

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