Sharing insights since 2007 on carefully saving money, investing, frugal living, coupons, promo codes because the little things matter in achieving financial freedom!
Poor people try to find the best deal. Rich people have better things to do.
At least as far as small purchases are concerned.
Think about it. Many poor and middle-class people do anything they can to save a buck. They clip coupons, drive across town to get $5 off, wake up incredibly early for Black Friday sales, and spend hours online trying to see which website has the cheapest Keurig coffee machine knock-off.
On the other hand, could you imagine a wealthy person doing this? Probably not. It’s not that wealthy people don’t like a great deal. They just understand what is and what isn’t worth their time. They also understand the 80/20 rule.
So for starters, rich people don’t really care about saving a buck here, $20 there. They understand that if something is really a lot cheaper, it will usually come with a catch. And sure, some stores have loss leaders but those items usually take a lot of time researching to discover when they are coming and you also must need the item when it comes up for sale. Rich people understand that the effort expounded to save a small percentage of the regular purchase price usually isn’t worth the time and stress. [ continue reading… ]
Every year, the threat of contracting the dreaded flu bug looms large. And even though COVID is all anyone talks about these days, the flu season is in full swing and affecting us all. Can you afford to risk getting sick? Thanks to the government, most of us know that getting a flu shot is the best way to avoid getting the flu. But for many people, the threat of any sickness pales in comparison to facing the needle, while others are allergic to the flu shot medium and have no choice but to forgo the yearly vaccination.
Finding yourself in the no-flu-shot camp may not be ideal, but you can still take steps to minimize your risks of getting the flu. As a registered nurse, I have come to learn a few tricks you should know about when it comes to avoiding the flu. Here are a few easy ones to follow: [ continue reading… ]
Most credit card flipping sites and fan forums boast the benefits of cashing in on multiple, new credit card offers, but very few experienced flippers talk about the financial dangers that can occur. The stories from experienced flippers are appealing. Daraius Dubash, the expert behind Million Mile Secret, has visited over 30 countries paying virtually no money because of his credit card rewards.
Free airfare and hotel stays just for signing up for new credit card bonuses – what could go wrong?
The Dangers of Credit Card Flipping
While many have been successful at credit card flipping, not all should pursue it. Keep these issues in mind before filling up your wallet with the latest credit offers. [ continue reading… ]
Job security. Despite recent improvements in the employment situation, this remains an issue of concern for many Americans.
Are You Worried About Your Job?
If the pandemic taught consumers anything, it’s that your job isn’t as secure as you would like. Layoffs can happen to almost anyone. And, even if you’re not laid off, your hours could be cut significantly, or you could face a furlough. These are situations that result in lower earnings from your job. With many Americans concerned about job security, reduced hours, and unpaid leaves, the country is increasingly becoming the “have” and “have-nots”.
If you’re worried about your job, it makes sense to do what you can to prepare yourself and your finances for the possibilities of a layoff or hours reduction. [ continue reading… ]
One of my relatives asked me for money a few times in the past. The first time, he said he needed money for a security deposit on an apartment; the second time, he said the money was for groceries. Both times, he played up the situation to pull on my heartstrings: he needed his own place so he could get custody of his daughter, or he was literally starving and had exhausted alternative resources.
I caved and wired him cash. If the cash helped him out, I wouldn’t think much more of the situation. But the reality is that he’s someone who consistently mismanages money, fails to keep jobs long-term, and makes poor life decisions. He lied about where the money was going and never did get that apartment. I also suspect he used the food money to purchase cigarettes and alcohol. By now, I fully realize that giving money to him is like throwing it into a black hole.
Situations like these make you think twice about giving money to friends and family. It’s often a mental struggle because you want to help someone, yet you wonder how giving or not giving will affect the both of you, financially and relationally. Some people say the solution is to never give cash to relatives or friends, but I don’t think it’s always that black-and-white. It’s a hard and very personal decision that will vary with each situation. These guidelines can help though. [ continue reading… ]
I have a love-hate relationship with financial rules of thumb. On one hand, I recognize that not everyone is going to spend as much time thinking about and researching financial topics as they should, and rules of thumb give them easy-to-remember guidelines for staying on track. But on the other hand, these types of guidelines are often inaccurate, outdated, or outright wrong — and following them can derail the very goals you’re trying to achieve.
In particular, saving for retirement seems to be a subject that attracts these “rules.” What’s worse is that these rules will often still be stated as facts long after they’ve lost credibility.
Here are three retirement rules that no longer apply, followed by what you should be doing instead: [ continue reading… ]
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