Living for today - Planning for Tomorrow
As a mother and an entrepreneur, I have a hard time finding that perfect balance between having chores my kids must do and paying them for chores. While I want them to be proud that they earned their own money for working hard I also don’t want them to expect that I pay them for every little thing that they do. Instead, I’ve got to
More than 80% of Americans say they overspend and exceed their budget at least some of the time. Part of the reason why we overspend is because we’re very good at justifying purchases in our heads. When something is on sale, we convince ourselves that we’re saving money by purchasing it even if we don’t really need it. Phrases like “YOLO” and “treat yourself” are
Money rules and guidelines like “save a 6-month emergency fund” are useful when making a budget and determining if you’re on the right track financially. However, some conventional personal finance wisdom might be a bit outdated. Many money rules haven’t been updated in a while and may not reflect the post-pandemic economy. High inflation, interest rates, and housing prices may make certain personal finance guidelines
Recently I’ve seen several articles and videos discussing financial mistakes that retirees regret making. Us younger folks can glean a lot of wisdom from our elders, including important financial lessons about saving and retirement. Many seniors say they wish they’d built up a bigger nest egg and invested in assets that provide a steady income stream. Here are 4 financial mistakes retirees regret making so
Buyer’s remorse is the pit in the bottom of your stomach that you feel after making a purchase you regret. For me, buyer’s remorse usually kicks in if I buy something I can live without. If I don’t really need an item, I often regret purchasing it and wish I would’ve saved the money instead. But buyer’s remorse can happen for a wide variety of
Most likely a confluence of factors are keeping you from becoming wealthy, rather than any single cause. Here are 19 reasons you’re not a millionaire (yet). Take a good look at how many of them might apply to your situation. You Spend More Than You Make If you fail to do this one simple thing, it doesn’t matter how much money you make — you’ll
The sayings “live within your means” and “live below your means” are often used interchangeably. However, I believe they have slightly different connotations. Living within your means simply indicates that you aren’t racking up debt to cover your lifestyle. Even someone who’s living paycheck to paycheck is technically staying within their means because they aren’t going into the red every month. On the other hand,
A few years ago, David over at My Two Dollars created a great post talking about the value of items in 1972. It’s always shocking to see the prices from only 41 years ago, so let’s break this down a bit. The Cost of Living in 1972 It should shock no one that the cost of living has increased since 1972, no matter where you
How many times have you purchased a cheap product that broke just a few months later? Inexpensive, mass-produced items may seem like a good deal when you first buy them. But the difference in quality is obvious once you get them home and start using them. Instead of buying low-cost items that fall apart, it may be better to follow the ‘buy once, cry once’
A recent study showed that 73% of Americans rated money as the number one stressor in their life. However, there’s a minority of people who simply don’t care about money and feel completely indifferent toward their finances. This mindset is known as financial apathy and can cost you a lot of money. If you aren’t motivated enough to create a budget and reign in your
