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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… ]
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: [ continue reading… ]
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. [ continue reading… ]
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:
A stronger sense of fulfillment in life
Better emotional, mental, and even physical health
Greater confidence in our financial decisions
To live out our core values, we first need to know what they are. [ continue reading… ]
Obviously, not everyone who gambles has a problem. Many people enjoy gambling as a social activity without it threatening their financial security or family relationships. I would go as far as to say that even gambling huge sums may be justified as long as their finances can justify the expense. I have a friend who frequently goes to Vegas and can blow five figure sums on any given trip. Do I think it’s crazy? Of course I do. But he makes multiple six figures and pays all his bills on time. He’ll likely work until he’s 65 while I can probably retire much earlier, but who am I to judge? It’s all just about priorities.
He’s obviously a special case though. For many others, gambling can lead to addiction and serious consequences for those who can’t control their impulse. With as many as 3-5 out of every 100 gamblers, and as many as 750,000 young people ages 14-21 having a gambling addiction, gambling can be compared to handling fire — it can either be used to your advantage or seriously hurt you.
How can you tell when someone you love is developing a gambling problem? At what point does it become an addiction? These are questions you may be afraid to contemplate, but recognizing and admitting them are the first steps to helping your spouse overcome a gambling problem and avoid further devastating consequences. [ continue reading… ]
Long before high school seniors fret about those caps and gowns in the next few months, they’ve been thinking about the next step. Students are encouraged to go to college fresh out of high school, with recruiters, parents, counselors ad advisors hounding them to decide which colleges and courses of study they’ll pursue as early as their Junior year. But is it always a good idea to go to college right away? What are the possible risks students face if they take a year off, and what are the potential benefits?
To even consider the idea, you’ll have to get past the biggest perceived dangers:
Lack of productivity
Loss of momentum and the risk of never going at all
Decreased chance of getting into a desirable university
The term ‘gap year’ evokes images of a terrifying stereotype: teens who live at home, are jobless, watch Netflix all day, and order takeout. Is this the reality for most who take a break between high school and college? According to the American Gap Association (AGA) and other advocates, it doesn’t have to be. A gap year is ideally a structured, purposeful time for students to work, volunteer, and engage in many experiences beyond the scope of the classroom. [ continue reading… ]
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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.
