Building Blocks of Personal Finance Broken Down

Share Article men’s lifestyle and finance magazine today remarks about the building blocks to personal finance broken down in response to a recent Huffington Post article which dissects the concepts of earning, spending and saving men’s lifestyle and finance magazine today issued their support of the basic concepts of building wealth being explained by a personal finance expert, as highlighted in a recent Huffington Post article.’s take on this may help consumers by defining words and terms used commonly but perhaps not truly understood by many, as well as highlighting what can be done better to improve upon each contributing skill.

J.D. Roth of recently published an article in the Huffington Post which broke down the essential pieces to personal finance, namely the saving, spending, and earning of money. Roth defined each term and included the equation for wealth, which he identified as being [wealth] = [what is earned] – [what is spent]. Roth reported that many consumers may be good at one skill (either earning, spending or saving their money) but perhaps struggle with others and reported that the key to successful personal finance and accumulating wealth is to maximize the implementation of all three categories. appreciates Roth’s bare-bones look at personal finance, and believes that one of the most crucial steps to grasping a concept is understanding the definition of a word.’s Senior staff writer is quoted as saying, “At our office, we have a policy where if somebody does not know the meaning of a word they come across, they are required to stop what they are doing and look it up. I believe that most people struggle with grasping full concepts due to their misunderstanding of one or two words. That is why I am extremely grateful to Roth for breaking down seemingly simple terms like ‘earning’ and ‘spending,’ and defining them with very easy to understand words. This could literally be the key that unlocks consumers’ understanding of their own personal finances, and how to manage them better, or earn and save more and spend less.”

In the above-mentioned article, Roth offers some tips for increased earning, such as learning how to negotiate a salary and ask for a raise, make money from side hobbies, pick a career that doesn’t feel like work, and constantly strive to educate oneself. Roth also encourages discipline in spending, offering the advice of embracing frugality and practicing conscious spending to cut back on costs. The article also points out that interest can really take a negative toll on one’s bank account in the instance of debt, so Roth recommends to avoid paying interest by getting and staying out of debt. also encourages consumers to watch their spending by keeping a monthly budget, and urges readers to come up with a “get out of debt” plan.’s Senior staff writer is quoted as saying, “Paying interest on something is like flushing money down the toilet. It’s the price we pay for borrowing money that we don’t have to pay for things that we probably don’t really need. Now, mortgages and car loans, that’s another story. I’m not saying that people don’t need cars or houses, because in general we do. I’m talking about credit card debt. Not only will it wreak havoc on your credit score, it will suck you dry from all the interest. The other thing about home loans is that the interest is incredibly low, like the lowest it’s been in 60 years. Credit card interest is ridiculously high. I cannot urge readers strongly enough to keep a personal monthly budget, and see where you can trim spending and start saving. Put the money you’re saving towards your debt, and slowly but surely you will chip away at it. The wealth equation does not work out if you’re spending more than you’re earning, saving zero, and adding to your debt. What that is, is a recipe for disaster and bankruptcy.”

The Huffington Post article states that the actions of spending, earning, and saving comprise the foundation of smart personal finance, which are not new concepts by any means. But what reporter Roth points out that is revolutionary is viewing these three verbs to be skills that can be improved upon to also improve one’s financial situation, and the notion that strengthening all three and using them together will being to invite wealth into one’s life.

About men’s lifestyle and finance magazine is a well-liked online men’s magazine. Its readers tend to be men in their 30’s and 40’s, who have experienced success in their personal and professional lives and are striving for more. General topics covered on include travel, lifestyle, finance, and dating advice such as announcing new online dating sites for men. men’s lifestyle and finance magazine features articles about luxury items, men’s fashion, vacation ideas, hot chicks, and financial advice such as mortgage and home loan tips. is owned and operated by Purpose Inc.

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David Klein
Purpose Inc.
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