Living for today - Planning for Tomorrow
My partner and I just got married in March. We decided to keep the event low-key and have a small ceremony in our backyard with close friends and family. Thanks to their generosity, we’ve received a couple thousand dollars in wedding gifts. Since we didn’t expect to receive this much money, we’ve been trying to figure out the best way to utilize it. If you’ve
A few months ago I wrote a blog post about why I don’t do no-spend challenges. To me they seemed like the personal finance equivalent of crash diets. Instead of outright banning unnecessary spending for a month or more, I believed in taking a more moderate approach. I gave myself a small monthly fun money budget so I could still treat myself occasionally without going
Financial experts often recommend that you open multiple savings accounts, one for each financial goal you’re trying to achieve. I’ve followed this advice for years with pretty good results. But recently I’ve been rethinking whether or not this style of money management is right for me. My freelance writing business has gotten busier over the past few months. I don’t have as much time to
This week my FICO credit score hit 750 for the first time. I got an alert from Credit Karma saying my score was excellent and I’d have no trouble getting approved for loans and credit cards at great rates. However, hitting this new milestone made me wonder if I could ever achieve a perfect credit score. FICO scores range from 300 all the way up
We all turn to celebrities for fashion and lifestyle advice. But did you know your favorite celebs can also teach you a thing or two about personal finance? Over the years I’ve picked up some great money management and business tips from famous stars like Will Smith and Jay Leno. Today I thought I’d pass on that knowledge by compiling some of my favorite personal
Lately economists have been warning that we may be heading for a recession in the next one to two years. Goldman Sachs recently estimated that the chances of the US entering a recession is about 35%. I knew that a recession was likely on the horizon in the next few years. But I didn’t expect it to be a possibility so soon. Economists can’t predict
Recently I heard a financial saying that was new to me online: you can’t out-earn bad spending habits. This is such a true statement. No matter how high your income is, if you don’t have financial discipline and try to live frugally, you can easily inflate your lifestyle to the point where you’re living paycheck to paycheck. After all, many lottery winners end up in
Deciding whether or not to give to charity is tough. You want to give back, but can you afford to donate if you’re in debt or having trouble saving for retirement? You may also be worried your donation won’t make a difference, especially if you can only make a small contribution. Some charities spend as much as 80% of donations on overhead costs. Depending on
Before I moved to rural Michigan, I had always lived in cities or suburbs. I never imagined that I would end up living in a farmhouse out in the country. But my partner dreamed of moving back to the Midwest and settling down on a big tract of land in a quiet, small town. Since I can work from anywhere as long as I have
Speaking from experience, it’s hard to watch friends and family members make financial mistakes. Most of my immediate family, including my parents and older sister, aren’t very financially literate. My parents ended up deep in consumer debt due to their lavish spending habits. Although they’re doing better now and are almost debt-free, they still spend too much on extravagances. My mom wastes $400 per month
