Articles relating to various Personal Finance topics.
Living lean has been my motto for the past three to four years at least. I wanted to get out of debt, and the best way to do so was to work more and devote that extra money to my creditors. In July 2019 I achieved my goal and I’ve been debt-free ever since. Yet, […]
America is going through tough economic times due to the shelter-in-place orders closing down various non-essential businesses. In turn, millions of workers lost their jobs. The latest report from the federal government shows there are 33 million unemployed Americans. While some people believe the economy will rebound after the country reopens, I’m not so sure. […]
Millennial estate planning is very important because we need to prepare to take care of our loved ones if we’re not around. One could suffer a medical aliment which leaves him or her needing medical treatment for the rest of his or her life. Or one may have to adopt a kid or kids after […]
While talking to various Millennials and reading articles devoted to the generation online, I heard and saw that we like convenience. Be it living close to work (and paying higher rents) or having dinner delivered (with an added fee), Millennials enjoy it. However, when times become tough and we must downsize to survive, we, like […]
This article is devoted to the Millennials with children or planning to have children: Please improve your finances! If you do, this will strengthen your children. Improve Your Finances To Reduce Financial Stress Being in debt causes stress. In this study 56% of Americans said debt caused them stress. In that same study, Millennials were […]
Millennials, it’s time that we break the poor money management cycle we learned from our parents. To do so, we must teach our children how to manage their money properly. A great way to do this is giving your children an allowance. In this article, I explain how kids & allowance prepares them for a […]
Millennials, open your bills! Yes, I know you have one you pulled out of your mailbox sitting on a table or desk somewhere. Once you saw it was a bill, you grew sad or angry or both and decided not to deal with it. However, avoiding your payment due doesn’t erase the debt. Open Your […]
The monthly payment trap is very easy to fall into, especially with big purchases. Thinking about buying a house or a car? Your realtor or mortgage lender will ask you what’s the most you can spend on a house. Thus, you probably think about the monthly payment instead of the total cost. Granted, the total […]
In the 10am post today I wrote about why it’s better to choose wealth instead of being rich. A great way to accumulate wealth is to stop trying to impress people! Unfortunately, individuals have a bad habit of doing that. It’s due to a flaw in our personalities in which we must show how well […]
In my review of The Millionaire Next Door, I discussed the differences between being rich and having wealth as described in that book. In today’s social media-driven world, appearing rich is very important. Mostly because individuals want to appear they are “making it” in life. However, choosing to look rich will cause financial problems in […]