Those struggling to reach financial goals should look inward and assess why this is so. Often, it’s from failing to master the ability to delay short-term gratification for long-term rewards. To avoid debt, spend less money than you earn. To save money, spend less money than you earn. To become an investor, spend less
Gadgets: Are They Reaking Havoc On Your Budget? In a CNBC article today, they chart the opportunity cost of buying an Apple product versus buying Apple stock with the same amount of money when that specific product was release. For example, they compare spending $2,500 on a Mac computer with investing $2,500 in Apple stock
The cold and snow in the Northeast and Midwest is getting frustrating to say the least. Money Conscious consumers should be aware that because of the extreme and extended cold, energy prices are expected to increase.
What can you do?
What recent data breaches have shown is that we’re not good at creating passwords that are even remotely challenging to a hacker. “123456” has replaced “password” as the most popular online password in the U.S. After Target’s data breach, we recommended changing all online passwords, including bank and investment accounts, email, phone, bills, etc. When
We learned this first hand the hard way. Having more income, more money and more stuff doesn’t necessarily make one happy. There are many millionaires and billionaires who are not happy. For an example, Google Leona Helmsley. She was reported to be worth $5 billion when she died, was called “The Queen of Mean” and
Credit for auto loans is easy right now and rates are low. However, loans offered through car dealerships aren’t usually good for you. Dealerships typically receive kickbacks from banks, so they have an incentive to sell you a higher rate than what you may qualify for through your bank or credit union. Also, because many
Make sure you’re in the right savings account for you. Many people made a resolution to pay off credit cards this year. These resolutions often annually fail because people don’t plan appropriately. The goal is to pay off credit cards, but first preparing for unexpected expenses is important. Our number one suggestion is to first build
Salary increases aren’t inevitable as we age and perpetual age. Unlike this article says, we don’t think everyone is trained to believe our salaries will continue to increase as we age until the day we retire. What’s true, though, is that many of us don’t prepare for the reality that salary increases won’t be a
The Robots are Coming, the Robots are Coming! In 2005, Daniel H. Pink released A Whole New Mind: Why Right-Brainers Will Rule the Future. In it, he describes that the Agricultural Age, Industrial Age and Information Age will be followed by the Conceptual Age. In the Conceptual Age, because of “Asia, automation (robots) and abundance”,
All too often we focus on cutting back our spending, reducing our expenses and the idea of scarcity when talking about paying off debt or achieving other financial goals. Just as a business pays attention to its revenue and expenses to ensure growth, so too must we pay attention to our revenue and expenses, and