Monday Night Finance- Volume 19

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Welcome to Monday Night Finance. Check out these great personal finance articles.

Risk management in personal financial planning

The ultimate goal of personal finance is to build wealth to achieve a secure financial future. While everyone is working towards the same goal, there are lots of different paths. Should you invest in index funds? What about individual stocks, commodities, or real estate? Or maybe you should keep your money in the bank where you know it will be safe? Each of these asset classes have different amounts of risk and at the same time different potentials for return. In this article, Leblon Blue discusses how to examine your own risk tolerance and develop a reasonable plan for managing your personal finances.

There is no formula for personal finance management, but risk management in personal financial planning will leverage your investment decisions. ~Leblon Blue

In this article, Leblon challenges the status quo investment advice of playing it safe. If you’re guaranteed to not lose money, then it’s likely that you won’t be able to become truly wealthy. Another point is that it is important to invest meaningful amounts of money. The article points out that if you gamble $100 and double your money, you’re still not appreciably richer. In other words, if you’re speculating and trying to rapidly grow wealth, doing so with a small amount of your portfolio will not give you the results you want. Likewise if you diversify a small portfolio among too many different investments, you’re reducing your risks at the same time you’re reducing your ability to maximize profits from a big win. Finally, if you do speculate, it’s better to take your profit too soon than to lose it all later. For even more advice about managing risk while rapidly growing wealth, check out the article.

25 Tips to Change Your Spending Habits

Do you feel like you’re in a rut when it comes to your personal finances? Do you know you need to change your spending habits but don’t know where to start? In this article, Alia Bernard of shares 25 tips that have helped her re-frame her own savings environment and worked towards financial success.

If you’ve been to Compound Dreams before, you’ll know that I am all about changing your daily habits, starting small then working your way up. I use all of these tips to help me get into a better mindset with saving, changing spending habits and achieving my goals. Hope you find them as useful as I have. ~Alia from Compound Dreams

Alia’s tips are short, actionable, and personable. Some of my favorite tips involve creating a budget, tracking your spending, and frequently checking your bank account balances. It turns out that CountAbout is great with all three of those! Beyond being in-touch with your finances, Alia recommends following a personal finance guru and listening to their media when you’re feeling discouraged. She also recommends leaving the house without your wallet sometimes so that it’s impossible for you to spend money. For even more tips, check out the article!

6 Best Fiverr Gigs- Top Selling Options

Have you wanted to start a side-hustle but don’t know where to start? Fiverr is a popular platform for small businesses to hire the help they need on an as-needed basis. Browsing Fiverr, you can find freelancers selling their services across almost any topic. Want to hire a logo designer? You can find one on Fiverr. Need a celebrity impersonator? You can also hire someone through Fiverr. It’s likely that you have some talents that could be monetized on this website. If you’re not sure where to start, Kyle, from has categorized the 6 most popular and profitable cateogries.

What started as a simple website displaying $5 gigs has now morphed into one of the world’s largest freelance platforms. ~Kyle from Financial Wolves

Graphic design tops the list of in-demand services on Fiverr. Within this broad category there are many different options from logo design to more in-depth projects such as designing infographics and brochures. In addition to designing static graphics, video and animation skills are also in high demand on Fiverr. The remaining top categories are associated with building websites. Search Engine Optimization (SEO) is incredibly important. Not only could you act an as SEO consultant for a small business, you could also rent out SEO tools that have a high license cost (like Ahrefs). Other in-demand web skills involve designing and building websites, content writing, and business planning. Read the full article for all of the niche markets within those topics.