Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
One of the cornerstones of good personal finances is to have some sort of backup plan available, just in case you run into unexpected financial problems. We often refer to this type of backup plan as an emergency fund or a rainy day fund.
For many of us, these are the same thing. However, it could be a smart thing to make a distinction between the different types of financial backstops.
“People organizing their money should think of a rainy day fund differently than an emergency fund,” says Stephanie Genkin, an independent fee-only financial advisor who teaches personal finance classes in Brooklyn, New York.
Being able to tell the difference between these types of funds, and understanding when it’s appropriate to dip into the money you’ve saved up, can go a long way toward making sure that you aren’t wasting your money or getting into deeper trouble. [ continue reading… ]
Job hunters often fixate on salary when looking for a job. Well duh right? If I don’t work for pay, then what’s the point? Income, after all, is a very important piece of your financial puzzle.
However, the reality is that salary isn’t everything. Sometimes good benefits are worth a little bit of a salary cut.
I recently signed on for a “real” job with a publishing company – my first such job in more than a decade.
Does it mean a slight pay cut for me to do this job? The answer was yes, but the benefits far outweigh what I’m giving up in income. [ continue reading… ]
We focus on stocks and bonds when we think of investing most of the time, but we often forget that it’s also possible to invest in ourselves. An investment in yourself can offer very good returns, as long as you are wise with your investment.
I’ve been in exploratory mode this year. I’m trying to decide what I want my life to look like for the near future (at least until my son finishes school), and I’m still tweaking my finances after the overhaul that came with change in family situation.
It’s been a good time to think about the investments I want to make in myself. Some of those investments include: [ continue reading… ]
I’m always looking for new ways to curb my spending, save money, earn freebies, and ultimately, live a more frugal lifestyle. This has especially meant becoming more careful about my purchases over the last few years. Looking back, I’m painfully aware of the money I’ve wasted:
Impulse purchases that weren’t accounted for in my budget
Multiples of items I barely use to begin with
“Great deals” that just weren’t what I wanted or needed, so they ended up in the donation pile
To avoid regretful purchases in the future, I’m more deliberate than ever about what, when, and why I buy things. Still, there’s plenty of opportunity for even better insights or angles that make this principle click a little better. Asking this question about potential purchases can do that:
How much does it cost… in my labor hours? If you’re an entrepreneur, you need to factor labor hours and production costs into the final price of your product or service. Otherwise, you’d be losing money. If you’re paying so-and-so a certain amount for a certain number of hours to make or sell your products, you need to earn more than that. This is a basic business principle. But, even if you’re not in business, this principle can help you weigh the value (not just the price) of your purchases more carefully. [ continue reading… ]
Lenders look at a myriad of financial factors when they run your credit report, but there’s another unlikely indicator that creditors are starting to pay attention to: your friends as presented by your social media accounts.
What do your Instagram friends have to do with your credit history? Well, the concept of peer pressure, far from being confined to your school days, has been proven to carry through into adulthood.
Taking a look at the spending habits and financial situations of your closest friends can often reveal quite a bit about your own.
While some newer financial institutions have started using social media to further reveal the credibility of their clients, it’s not a general practice so you don’t have to rush to clean out your friends list just yet. However, being aware of how your friends might be influencing your spending will help you stay on track with your budget, and/or distance yourself from those who constantly hijack your efforts at frugality. [ continue reading… ]
The unemployment rate has been extremely low for what seems like years now, but that doesn’t change the fact that six million Americans are currently out of work, according to the most recent Bureau of Labor Statistics (BLS) report. Add to that the 2023 college graduates who are competing for every job out there, and it’s clear that it could be tough to land a job even if the statistics make it seem like there are plenty of opportunities to go around.
Since the average length of unemployment is still a depressingly long 20 weeks according to BLS, it can feel as though those struggling to find a job have an uphill battle. However, it’s important to note that a long employment gap no longer has the stigma it once held. Employers are sympathetic to the difficulty of the job market. But that doesn’t mean that you should stay idle while waiting for your dream job to open up. Here are some things to do while you are unemployed that will help your resume, your well-being, and your bottom line: [ continue reading… ]
Free signup to get a free ebook on How to Save Money on Everything! Constantly expanding, it will be the biggest money saving ebook available, and it's FREE! →
(I hate spam and promise that your information will never be shared.)
