Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Have you ever put a label on yourself and then had a hard time removing it? My son is very good with the soccer ball but he hesitates whenever he goes up against bigger and stronger boys because he’s not confident. He often thinks he’s bad and that leads him to not play as well as he could out on the field.
A lot of people do this and it affects all facets of their life. This is especially disastrous when it comes to money. It’s understandable though.
This is because: a) money is a taboo topic, and b) it’s the easy way out. It’s so much easier to say “I’m bad with money” than it is to actually improve the underlying issue.
If you’re constantly thinking you have bad luck with finances or are generally bad with money, you have to first realize that “no, you’re not bad with money.” It’s probably just because of one of these reasons.
When we think of skills that set us up for career success, things like efficiency, the ability to multi-task, and proficiency in technical or specialized equipment might come to mind. But, based on the Bureau of Labor Statistics’ list of occupations expected to add the most jobs over the next 10 years – home health care, nursing, retail, and service – a very different set of skills will be in high demand. Can you guess the common denominator for these occupations? If you said social skills, you’re right.
Even if you’re not employed in one of these fields, social skills are becoming an in-demand qualification. Employers in STEM fields are showing an increasing preference for applicants with “high social skills,” not just technical skills. Even business professionals need to be able to communicate with other departments, anticipate customers’ desires, needs, and reactions to formulate effective marketing strategies, interact with suppliers, and secure funding by building rapport with investors. Finally, if you’re an entrepreneur, financial success hinges strongly on the social skills needed for building a network of investors and customers. [ continue reading… ]
As someone who has rented an apartment for a long time, I didn’t think I needed renters insurance. It seemed like an unnecessary expense to add to my budget. After all, as a self-proclaimed minimalist, I don’t have a lot of “stuff” so I never saw the value in it.
It wasn’t until a few months ago that I finally woke up from my ignorance. A friend had her computer stolen and the first thing people asked her was, “Do you have renters insurance?”. She didn’t.
To make matters worse, she was still making payments on it! My heart went into the pit of my stomach hearing her tell me that story.
I thought if something happened to my computer – whether it be theft or damage – I’d be in pretty bad shape. I currently work as a full-time writer and speaker, and my computer is a major source of my income. Not having my laptop would put my livelihood is serious jeopardy until I can replace my machine. [ continue reading… ]
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: [ continue reading… ]
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.
What is a Spending Waiting Period?
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. [ continue reading… ]
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