Now that my son is 14 and getting ready for a driver’s permit, I’ve been thinking quite a bit about buying a car. (Yes, you read that right. In Idaho, you are eligible for a permit at 14 and a license at 15.)
It’s a few years since I’ve bought a car; I tend to buy something late model that I like and then drive it for as long as possible.
As I get ready to move forward with a vehicle for my son, here’s how I’m preparing to make the decision:
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There are some financial mistakes we tend to make more than others and sometimes we may not even realize we are making them. I’ve made many myself over the years and it’s pretty embarrassing but I’ll share my biggest financial mistake.
A few years ago, as a young and financially-dumb 23-year old, I left my first big-girl job. While I was there, I had been investing in a 401k. To be quite honest, I really had no idea what a 401k was at the time other than a way to save money for retirement. After I left, I decided to withdraw all the money in my 401k, which incurred me a hefty penalty (more than 30% of the balance in fact). My only excuse? Financial stupidity!
Don’t let something like this happen to you. Financial mistakes like these are all too common. And when they happen, they are costly.
I’ve compiled a list of five of the most common financial mistakes so that you can hopefully avoid them.
I’ve never been one to budget every last cent, and I’ve never been on a spending diet. Most of the time, I’m content to make sure my goals are being met each month and then I spend whatever’s left.
Lately, though, I’ve noticed my old habit of just buying something because I can is creeping up. I mostly stay away from impulse purchases, but when I look back over my spending for the month, I see that they are making something of a comeback.
So I’m trying something new. I’m trying the waiting period. So far, I like it.
The idea behind a spending waiting period is to avoid buying something until after a pre-determined amount of time has passed. You might impose a 14 day period on yourself, or decide to aim for a 30 day waiting period. I’ve instituted a 21 day waiting period because three weeks seems like a long enough time for me to cool off on whatever it is I have a burning desire to buy. Before I make a purchase, I wait 21 days and if I still feel like the purchase is a good idea, I’ll go ahead and pull the trigger.
So far, I’ve managed to avoid pretty much any unnecessary spending for the month.
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If you’ve ever hosted a wedding of your own or even attended a wedding, you definitely know how much it can potentially cost. From venues to flowers to photography, the expenses add up quickly. And considering that it’s only one day of your life, the cost of a wedding can be very daunting.
Luckily, eloping isn’t the only solution to the problem. While weddings can get really expensive, there are ways to cut back without sacrificing the experience for you or your guests. Being strategic about how you stick to your budget can significantly impact your costs in a good way. Here are 11 tips to help you save on your wedding day:
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I’ve been getting out of my comfort zone more lately.
As someone on the introvert end of the scale, it’s sometimes difficult for me to get out there and meet people. Additionally, I’m somewhat risk-averse when it comes to my money.
However, I’m learning about the importance of taking risks with my life and with my money these days. I’m not talking about big, stupid risks, but smaller, calculated risks. If you want to move forward and thrive, sometimes a risk or two is necessary.
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In the business world, core values are important to shaping a company’s culture and vision. They will also dictate how the company will bring that vision to reality. But just having core values — even if they’re displayed in gold-embossed letters on the office wall — isn’t enough. Clients and customers will quickly notice if those values aren’t evident in a business’s day-to-to day practices, and it will affect both their brand perception and their financial success.
The same goes for us as individuals in all aspects of our lives, including our personal finances.
Whether we realize it or not, we all have core values. We may be out of touch with what they are or have a hard time articulating them, but they’re there and we should make the effort to identify them. Not only knowing but living out our core values (in this case, our financial values) has many benefits:
To live out our core values, we first need to know what they are.
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