Living for today - Planning for Tomorrow
Many financial experts classify debt as good or bad. So-called good debt helps you buy an appreciating asset like a house or business. Student loans are also viewed as good debt because they can help borrowers gain skills and a higher-paying job. Bad debt, on the other hand, doesn’t help you get ahead like good debt. It’s usually used to buy a depreciating asset like
Growing up, my parents were always generous with everyone around them. My mom would give my teachers Christmas gift bags that were almost as tall as I was. My parents bought a house with a guest suite so my mom’s sisters could live with us to save money. Whenever we’d go out to eat with family or friends, my parents would always grab the bill
As a mother with a family to feed, I prefer to cook at home for several reasons. Cooking at home is fairly simple, it is less expensive than eating fast food or restaurant meals, and it allows me to make everyone pretty much what they want. With that being said, cooking at home means buying a lot of groceries each month and the prices of
Most people think that saving money requires sacrifice and self-denial. However, when I became frugal, I felt like my life got more abundant, not less. And I’ve heard many frugal people express the same sentiment. How can your life feel more full and abundant when you’re spending less money than ever? The answer is gratitude! Adopting a frugal mindset causes you to be more intentional
When it comes to finances, many people take a reactive approach instead of a proactive one. About 70% of Americans don’t usually follow a budget and only save whatever’s left over at the end of the month. Failing to budget and make a plan for your money can make it difficult to save for emergencies and financial goals such as buying a home. If you
Lack of financial education is a big problem in the US. According to a recent survey, only 57% of American adults are financially literate. Although more and more schools are offering personal finance classes, that doesn’t help older generations who have already graduated like millennials and Gen Z. Because young adults have a gap in their personal finance education, many of them are turning to
It’s that time of the year again — tax season! Since I’m a freelance writer and take deductions for business expenses, my taxes tend to be more complicated than average. I’ve made the mistake of waiting until the last minute to file, which as you can imagine was super stressful! I’m determined not to repeat that experience, so I sorted everything out last week and
How much money do you need to retire? It’s a popular and hotly debated personal finance topic. Before the pandemic started and inflation ballooned the cost of housing, gas, groceries, and other necessities, a million dollar portfolio was seen as enough. But now some experts are saying millennials may need $3 million worth of assets to have a comfortable retirement in the future. I don’t
As a personal finance writer, my opinions about money and budgeting are always evolving. I read a lot of financial blogs and watch videos about saving money in my free time. Recently, I’ve become interested in no spend challenges. I participated in No Buy January and ended up loving the challenge so much that I want to continue through at least the end of February.
Now that the holidays are over, many of us are probably feeling the winter blues setting in—I know I am! Where I live in rural Michigan, we still have several months of winter to go and many dark, snowy days ahead of us. I’m not much of a winter sports person, so I spend most of the winter season inside. Being cooped up in the
