Financial Literacy

A presentation of personal financial discipline. Do you have it?

4 Splurges That Make Sense

Ever find yourself justifying an expensive pair of shoes or a pricey pair of jeans by promising yourself you’ll “wear it forever”? Often, we’re just kidding ourselves – it just makes sense to go for the lower-priced alternative, especially if you’re in the market to save. But believe it or not, some merchandise (and some memberships) can be be well worth the splurge. Here are four examples, including some ways to save on the splurge:

4 Splurges that Make Sense.

The Secret to Getting Out of Debt

There are two sides to the debt elimination coin—reducing expenses and increasing income. I think both sides work hand in hand. I also think it’s wise to start with reducing expenses. Why? Because it forces you to re-think your real needs. Increasing income without stabilizing spending will only promote bad habits further. And reducing spending is something you can do right now.

Once you see that, yes indeed, eating at home most nights won’t kill you, it’s time to start working on the income side of the balance sheet.

Continue Reading…

How to Leave a Worthy Legacy

Yes, a legacy is more than money. But avoiding money when it comes to what happens when you’re gone will affect those who come after you in ways you may not have wanted. This article in the Montreal Gazette helps to clarify how to leave a sustainable financial legacy.
Continue Reading…

How to Save Up for Anything

Anything? Yes, you can save up for anything. Follow these steps.

Prioritize. Prioritize. Ever get the feeling that, even though you made it through another dizzying, chaotic day at the office, you can’t remember accomplishing anything? That’s called a lack of prioritization. The same happens with money. If you don’t have a plan (i.e. a priority) for it, somehow it manages to get spent on whatever happens to be a priority at the moment.

How to prioritize? Setup a savings account and automatically transfer money to it each month. Trust me. Automation = happiness.
Continue Reading…

4 Budget Tactics to Save More and Spend Better

I write a lot about setting spending and savings goals. A big reason why is because most of us go through life on cruise control. Sure we can come up with all varieties of dreams but do we really plan to reach them? Or, even better, how do we know if we’re achieving them? We don’t. Not unless we make spending and saving a priority.

Next up are 4 budgeting tactics that will help you save more and spend more wisely.
Continue Reading…

Family Budget Spreadsheet

Found this simple family budget spreadsheet from WiseBread:

Top 7 Things Every Budget Should Contain

Ok. So you’re starting your budget. Or you’re looking to simplify your current budget. What now? What overarching ideals should you be following? Here are 7 different things I think you should focus on with your budget. Some are more strategic. Some more tactical.
Continue Reading…

Ignore Generic Financial Advice – Except This Post

This is a personal finance, and related, blog. So, naturally, it includes advice based on my own circumstances and experiences. I’m not real comfortable giving “absolute” advice. Advice that everyone should heed all the time in all situations. Thankfully, the New York Times online sums up how I feel.
Continue Reading…

Is Budgeting Worth Your Time?

Yes and no. I think in some circumstances budgeting probably isn’t worth it. Are you independently wealthy and don’t have any major hobbies, like maybe a drug addiction? Then I think foregoing a budget is fine. But, even then, I’m guessing wealthy individuals (truly wealthy people) probably do a lot more managing like a business owner would do.

Other than this one instance, here are a few reasons why I think budgeting is worth your time.
Continue Reading…

Page 31 of 33« First...1020«2930313233»