Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
The turkeys have been eaten and the trees are starting to go up. Christmas is right around the corner. While we’re all looking forward to one of the most magical holidays of the year, that also means that the new year is right around of the corner. Pretty soon, we’ll be making our new year’s resolutions.
As you think about your goals for the coming year, it’s also important to reflect back on the year past and wrap any any loose ends, especially when it comes to your finances. Here is a checklist of five financial things you should do before new year’s day:
Review Your Yearly Budget
The end of the year is the perfect time to review your yearly budget. Are you on-track? Did you overspend? Did you have to dip into your emergency fund? While it may be too late to make a change now, reviewing your spending will help you make your new budget in the coming year. If you’re over, you might have to cut back the first few months of the new year. [ continue reading… ]
It can be hard to say NO to our kids. I know that sometimes I feel bad when I tell my son that I won’t buy something for him, or that he can’t go to an event that costs money.
However, telling your kids NO can create situations in which you teach them valuable money lessons. Since you want your children to grow up making better financial decisions and to be better with money, it’s important to sometimes tell them NO from time to time.
Here’s how telling your kids NO can help them learn valuable money lessons. [ continue reading… ]
I had a difficult decision to make while reading my emails recently. Not showing it to my son would save him some disappointment, but making him aware of it could be an invaluable financial lesson.
My son is saving his money to buy a new monitor for his gaming computer, but he is currently getting by with an old monitor that we had sitting around. He’s shopped around and determined that $300 is about how much he’d have to spend to get a monitor with the features he’s looking for.
The email I received was from a popular online computer parts retailer. They were advertising a 27-inch 1440p monitor, which regularly sold for $299, on sale for $219. Even better, after using a promo code, the final price of the monitor would be $199.
The problem? He didn’t have enough funds to take advantage of a great sale.
He did have $140, but he could’ve had more if he’d made different choices with his money over the past two months. I specifically remember him buying an online game for $70, as well as a new music album through iTunes within the last week.
I invested in a well known technology company about a year and a half ago. I’ve checked the value of my investment at the beginning of each month since, and except for one month, it has lost value every time. Maybe I’m in state of denial since it’s such a well known company that continues to make popular products. I keep thinking that it will eventually turn a corner and increase in value, but when do I say enough is enough? When should I cut my losses and reinvest my money elsewhere?
The reason many people hold on to investments too long is there’s a common belief that all stocks eventually bounce back. When a person looks at the historical graph of the stock market, there may be some bumps but it generally increases over time. The big caveat though is that the markets are an average of successful stocks. While most companies increase shareholder value, certain individual stocks lose value never to return to their previous highs.
Here are three questions that could help you decide whether it’s time to sell that consistent loser in your investment portfolio: [ continue reading… ]
The holiday season is one of the busiest traveling seasons of the year. Not only are many traveling to visit families but they’re also making use of leftover vacation days and planning getaways. While you may be busy planning your itinerary and deciding what to pack, don’t forget one of the most important items on your vacation prep list: securing your money.
Being a tourist in an unfamiliar city makes you susceptible to fraud and theft. Whenever you’re away from home, you need to take the necessary precautions to make sure your wallet, money, and important documents are safe. You don’t want them to get into the wrong hands. Take a look at these five tips to keeping your money secure while traveling: [ continue reading… ]
Earlier this year, my husband received an unusual letter from his credit card company. He had not used his card in two years, and the bank alerted him that he had two months to make a purchase on the card, or else it would be cancelled.
This particular card, which he’s carried for over 15 years, has gotten dusty because we share a Upromise reward credit card that we use for all of our spending. We pay that card off monthly, and have no other need for credit.
At first I thought there was no need to keep an unused card around. We didn’t need it, and it was just one more thing to keep track of. But when I looked into the consequences of losing such a long-term piece of my husband’s credit history, I realized that keeping the account open was the smart thing to do.
Here’s what you need to know about canceling your unused credit cards and how it can affect your credit score.
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