5 Books That Teach You How to Be Rich

5 Books That Teach You How to Be Rich

The Richest Man in Babylon by George S. Clason:

The Richest Man in Babylon is essential reading for any adult struggling with personal finance, and even those who aren’t. It teaches the reader an entirely unique mindset about saving that Clason refers to as “paying yourself first”. What this means is that if you are spending your money recklessly on things you don’t need and you allow your money to simply burn a hole in your pocket then what you’re doing is paying OTHERS first, rather than saving the money and therefore paying YOURSELF first.

The Little Book of Common Sense Investing by Jack Bogle:

For those of you who are already relatively savvy in the world of investing the name, Jack Bogle might ring a bell. He founded Vanguard investment and in this book, he outlines the principles that effectively make Vanguard so successful. Investing in index stocks has been shown to outperform individual stock investments in the long run, and this is what Bogle sets out to prove in this book by showing the history of mutual funds and index funds, then comparing their returns and fees.

A Random Walk down Wallstreet by Burton G. Malkiel:

Malkiel is a well-known and respected Economics professor from Princeton University, and this book is a large part of why he is so known. Economists usually have an interesting perspective on investing and offer incredible insight into how markets function at their deepest levels. In this book Malkiel shows, as the name implies, the randomness of the market for individual stocks, and how selecting literally random stocks will often yield the same returns as a professional broker will. This leads him to an interesting conclusion, and this book is a great read for any investor looking for a new perspective.

The Simple Path to Wealth by J.L. Collins:

The Simple Path to Wealth outlines for the reader and extremely practical, if not somewhat aggressive, way to save so much money that you quickly have enough money to simply do as you please in life. Collins’ aggressive plan suggests you save 50% of what you make and invest a large portion as well. The book also educates the reader on how to fine-tune this plan to their personal needs and circumstances in life, making it a great read for people who want a direct plan of action.

The 4-Hour Work Week by Tim Ferriss:

This is a book that almost everyone has heard of and instead of telling the reader what to do with their money as far as saving and investing as the other books on this list do, this book tells you exactly how to make the money in the first place. The book advocates for self-investment (i.e. learning and honing skills) as well as wide and varied streams of income.

Yorkville Advisors, LLC is a privately owned and operated hedge fund sponsor.


How to Practice Financial Self-Care

How to Practice Financial Self-Care

Navigating through your own world personal finance can be a daunting task. There are strategies that can help you become financially healthy so you can weather any type of economy. These strategies include paying off your mortgage and paying off your credit card debt.

Paying off your mortgage:

Paying off your mortgage at an accelerated rate will save you hundreds of dollars in interest every month. You can do this by switching your 30 year loan to a 15 year loan. You will be paying more of your loan balance each month but you will also pay the mortgage off sooner and save yourself a sizable amount of cash on interest in the long run. The sooner you pay off your mortgage the better. You will rest easier knowing that all your hard work paid off and have the peace of mind.

Paying Off Your Credit Card Debt:

Credit cards carry a lot of risk especially when you do not pay them off on time. Accumulating debt on a credit card becomes more difficult and tough to reconcile when you are charged hideous interest rates. Some people pay has high as 19.95% on some credit cards. Do yourself the favor of paying off your credit card balance with a low rate loan and make the commitment to pay it off as quickly as possible.

Stop Paying for Things You Do Not Need:

Buying subscription services such as those to audio books, digital streaming sites and meals delivered to your door may be great to have, but not when you do not have the time to enjoy them. If you do not use these services regularly and they are not adding value to your life, may it’s time to detach from them and save your pocketbook from continued expenditures that you do not need.

Be Practical and Buy Generic Brands:

Many of us have been feeling the pinch at the supermarket. Many of the food and products manufactured and produced are expensive due to their packaging alone. Saving money can be as easy as replacing the name brands you buy at the grocery store with their generic counterparts. These brands do not spend a lot of money on the packaging and compared to the names brands, are as good in quality and a deal to buy.

Making good financial decisions is important in practicing financial self-care. Small changes to your finances now can mean saving big amounts of cash in your wallet over a long period of time. You can make positive changes in your life by being aware of where you are financially and making the tough decisions that will bring you closer to financial freedom.


Yorkville Advisors, LLC is a privately owned and operated hedge fund sponsor that was founded in 2001.

3 Skills You Need to Be Financially Successful

3 Skills You Need to Be Financially Successful

Reaching your financial goals is more than adding and subtracting a bunch of numbers to balance a budget. It is a valuable skill to have if you are proficient in math, but financial independence requires other skills that help you make smart decisions about your money. Some of those skills often include the way you think about money and learning how to keep emotion out of your financial decisions. Here are three skills you can develop to help you obtain financial success.


All of your money decisions should be deliberate and involve self-discipline. It is easy to create a budget that will get you to the financial promised land, but you need discipline to control the way you spend money. Impulse buys are the biggest threat to your financial balance sheet. Stopping yourself from spending money in the heat of the moment requires self-discipline, and once you master the art of money discipline, you will be well on your way to your financial goals.

Critical Thinking Skills:

Smart money decisions are made by using critical thinking skills. Before you make any financial investment, you must first analyze the investment from every angle. You need to ask yourself if this investment is right for you, and what does the person or entity presenting the investment have to gain from your financial commitment. A strong set of critical thinking skills would involve understanding exactly how the investment works before putting up any money.

Confidence- Making Smart Money Decisions:

Studies suggest that many Americans struggle with their money because of a perceived lack of financial knowledge, and confidence involves gaining the knowledge you need to formulate a money game plan. Confidence also involves taking risks while learning how to mitigate risk at the same time. The best way to gain the confidence you need is to learn how to keep your emotions in check. Just because the markets fell dramatically one day does not mean you have to rush out and sell all of your stock. You have to have the confidence in your investments that they can withstand large market downturns.

The ability to control your financial emotions, resist impulse buys and develop critical thinking skills are just as important as adding and subtracting numbers. If you are ready to learn what it takes to become financially successful, you should start by sharpening your emotional and financial IQ before you start developing your math skills.


Yorkville Advisors, LLC is a privately owned and operated hedge fund sponsor that was founded in 2001.

5 Personal Finance Rules Every Small Business Owner Should Live By

5 Personal Finance Rules Every Small Business Owner Should Live By

Many small business owners struggle to manage their organization’s finances. Rather, they focus on their business’s core operations while placing accounting and other administrative tasks on the back burner. Unfortunately, this often leads small business owners down the path for failure by adopting the following personal finance rules, however, small business owners can better manage their business’s finances and increase their chances of success.

#1) Create an Emergency Fund:

Even if they never use it, small business owners should create an emergency fund. It’s impossible to predict the future. Even if a small business is currently turning a profit, factors like market changes, industry regulations or consumer demand can quickly place a business in the financial red zone. By creating an emergency fund, small business owners will have peace of mind knowing that they stay afloat during times of hardship.

#2) Choose Debt Wisely:

There’s nothing wrong with borrowing money, but small business owners should choose their debt wisely. High-interest loans, for instance, can hurt a business’s profits. In addition to paying the principle, the borrower must also pay interest. A small business owner should only take a loan or debt if he or she can comfortably pay it back according to the lender’s terms.

#3) Keep Excellent Financial Records:

Small business owners should keep excellent financial records for bookkeeping and tax purposes. If a small business owner doesn’t know exactly how much money his or her business spends and earns, they won’t be able to optimize their operations for higher profits. Whether it’s performed in-house or outsourced to a professional accountant, proper bookkeeping is essential to the success of all small businesses.

#4) Plan for Taxes:

Waiting until April to review taxes for the year prior is never a good idea. As a small business grows, it will earn more income and, subsequently, be required to pay more taxes. To avoid the sticker shock of an expensive tax bill, small business owners should plan for taxes in advance. This means setting aside the necessary funds — usually about 35 percent of income — for their taxes. In most cases, small business owners must make quarterly estimated payments to the Internal Revenue Service (IRS) based on the projected income for the year, and failure to make these payments will result in a penalty.

#5) Plan for Retirement:

Retirement isn’t something that most small business owners think about when initially launching their business. As most financial experts know, however, the sooner you begin planning for retirement, the better. Even if a small business owner doesn’t have employees, he or she can still set up a retirement plan using a Simplified Employee Pension (SEP).

The same rules used for personal financing can also apply to small businesses. By incorporating the rules mentioned here into your small business’s operations, you’ll build a more stable foundation that allows your business to expand without the traditional growing pains experienced by so many others.

Yorkville Advisors, LLC is a privately owned and operated hedge fund sponsor that was founded in 2001.

How to Finance a New Car

How to Finance a New Car

Financing a new car is a major purchase for most people. The average car might cost between $10,000 and $30,000, depending on the make and model. You want the best deal for your dollar. Before you step up to the sales desk, take a close look at how you can finance a vehicle with a fair cost. There are realities in the dealership world that must be evaluated beforehand.

Focus on the Car’s Total Cost:

Car salespeople enjoy the power of numbers. They’ll quote you a low, monthly payment to draw you in. This practice is widespread and smart on the part of the dealership. However, you need to focus on the car’s total cost. The low, monthly payment may equate to a huge price on the car with some multiplication involved.

Negotiate the vehicle’s cost or “out the door” price. From this number, you can consider a finance package that suits your budget. The total cost tells you exactly what you’re receiving, from the sports trim to the Bluetooth radio.

Keep the Term Short:

Financing a vehicle over six or seven years allows you to spread the payments out over a long, time period. It sounds attractive because you can buy more with a low payment. Don’t fall prey to this scenario, however.

Finance the vehicle for the shortest time possible. Three to five years is the normal range for the average buyer. This time frame works well because the car’s value should be at its midpoint by the time you pay it off. You don’t want a car that’s worth only a few thousand dollars, and you’re still paying a monthly payment for outright ownership.

Try Weekly Payments:

Every car loan is structured with a monthly payment. However, you don’t have to follow this plan as a strict rule. To reduce your payment period and possible interest costs, pay down the car loan in weekly installments. Go online, and pay part of the monthly charge. Pay more if possible.

Although car loans don’t typically have compounding interest, you get ahead of the payments with a weekly habit. Make sure you always cover the minimum required by the monthly due date, however. You don’t want to add penalties to the loan by overlooking the due date on a weekly schedule.

Get Pre-Approved:

The car dealership isn’t the only place where you can secure a car loan. Get pre-approved by your bank or another lender. They essentially guarantee a loan amount that’s funded once you find a vehicle. There’s a fixed, interest rate that can be negotiated at the dealership too. With good credit, finding a solid deal is possible with a bank backing your final loan.

You may feel obligated to agree to a finance agreement at the first dealership, but step back for a moment. There’s no obligation to buy anything until you sign the contractual papers. Feel free to leave if you experience too much pressure or the deal swings in the wrong direction. There are plenty of other dealerships to work with in today’s competitive market.

Yorkville Advisors, LLC is a privately owned hedge fund sponsor.

3 Personal Finance Habits Everyone Should Get Into

3 Personal Finance Habits Everyone Should Get Into

If you are struggling to save money, do not panic, because you are not the only one. According to statistics, more than 50 percent of Americans have less than $1,000 saved up. Around 30 percent of Americans have no money saved at all. While those numbers are scary, there are ways to improve your financial situation and start saving some money. Here are three personal finance habits that will help you start saving today.

Impulse Purchases:

Impulse purchases can wreck your savings account in a hurry. Statistics show that five out of six people in the U.S. are prone to impulse purchases. Additionally, almost 20 percent of people say they have spent more than $1,000 on an impulse purchase. A habit you can develop is to force yourself to wait at least one day before you make a nonessential purchase. By implementing this 24-hour cooling off period, there is a good chance you will realize you do not need the product or service in the first place.

Check Your Credit Report Often:

Unfortunately, many Americans avoid checking their credit reports and scores. Many people have no idea what their score is and how it can save them money. If you want real borrowing power in the future, make it a habit to check both your report and your score frequently. You are allowed one free credit report per year from all three of the credit reporting agencies in the U.S., TransUnion, Experian and Equifax. You can request a free copy of your reports by visiting AnnualCreditReport.com.

However, this report does not include credit scores. If you want your real credit scores, you can order them through all three agencies by paying a fee. Additionally, many credit reports contain errors. You can increase your score by having errors on your credit report removed.

Pay Your Bills on Time:

Another sure-fire way to increase your credit score is to pay your bills on time. Keep in mind that your payment history accounts for 35 percent of your credit score using the FICO-based scoring model. Your credit utilization ratio, which is how much available credit you use, accounts for 30 percent of your credit score. When you pay your bills on time, you are not only helping your credit, but you are avoiding those costly fees that come with late payments. Some lenders and credit card companies do not give you a grace period if you are running a little behind on your payments. The second you miss a payment by the scheduled due date, you are hit with late fees.


Yorkville Advisors, LLC is a privately owned hedge fund sponsor.

The Impact of Artificial Intelligence on Finance

The Impact of Artificial Intelligence on Finance

We’ve all heard about artificial intelligence when it comes to science fiction movies, but many people don’t realize that while it may sound futuristic, there have been significant inroads in the field within just the past few years. It’s not just in scholarly circles, either. Artificial intelligence has become a huge resource in the world of finance.

There’s Much More Data Out There:

With the emergence of the internet as a dominant force in the economy within just the past decade, more and more data is becoming available to the business and financial sector. We live in a digital world that is chock full of unorganized and scattered data. Artificial intelligence is up to the task of delivering that data in a meaningful and impactful way.

Computers Are Becoming Extremely Powerful:

This point is obvious to anyone who has a smart phone but it’s worth re-iterating when it comes to artificial intelligence and the financial world. As computers get more and more powerful, it becomes apparent that AI improves along with it. The next decade will show just how powerful AI algorithms can get.

What Can AI Actually Do Now?

It’s easy to jump in to a science fiction or fantasy mindset when talking about AI, but there are many real world applications of it available today that produce real returns. It can learn unsupervised when dealing with data clustering and statistical tools. It’s able to pick out patterns that may not be first viewable to the human mind.

It’s also capable of learning things under strict supervision. One of its benefits is hunting for specific types of data such as when it comes to credit-worthiness. It’s also capable of learning from mistakes by utilizing repetitive strategies and observing the sorts of returns they’re capable of.

Using Artificial Intelligence in Investing:

Some algorithms can be easily used to find the link between the prices on assets and different events that happen throughout the world. They can even be used to predict the movements markets make in advance based on social media. They can white list certain users in order to fight back false positives. This also makes them ideal for dealing with credit scores and other underwriting endeavors. With that being said, there are some challenges that come with utilizing artificial intelligence and plenty of room for advancements.

Dealing with Biases:

The usefulness of a particular artificially intelligent algorithm is going to be primarily based on the quality of data it’s allowed to analyze. Even with the most pristine sources, biases that may not even be known can be present and shape the findings in ways that aren’t useful. It also requires plenty of time and resources to accumulate such data sets in order to be used by the AI program. There’s also an issue with responsibility in case things go wrong.

Overall, artificial intelligence is a boon to the financial sector as long as it’s used by the right people making good, educated decisions about things.


Yorkville Advisors, LLC is a privately owned hedge fund sponsor.