Lifestyle http://www.wisebread.com/taxonomy/term/4806/all en-US 8 Things I Learned About Money After Getting Married http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-things-i-learned-about-money-after-getting-married" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/married_couple_game_000017059049.jpg" alt="Learning things about money after getting married" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Marriage comes with its fair share of life lessons, and money is among the most prominent of these. Here's what I've <a href="http://www.wisebread.com/9-ways-getting-married-is-good-for-your-finances" target="_blank">learned about money while being married</a> &mdash; for better and worse.</p> <h2>1. Credit Scores and Debt Should Be Laid Bare While You're Still Dating</h2> <p>Money is a taboo subject, in general, and couples &mdash; especially new ones who are still navigating the muddy waters of a blossoming relationship &mdash; don't like to talk about the financial predicaments they may be in. But these conversations are necessary.</p> <p>My husband and I were sort of forced into the conversation as we bought our first home before we got married, but even if that's not on the horizon for you and your partner, it's still good to assess the <a href="http://www.wisebread.com/7-ways-to-increase-your-credit-score-quickly" target="_blank">credit score and debt</a> situation so you both know what you're dealing with. That's not to say that you should dump somebody because their financial standing isn't as great as you might have hoped it would be, but it's certainly a factor to consider as you plan your life together.</p> <h2>2. Discuss Future Financial and Investment Goals Before Saying &quot;I Do&quot;</h2> <p>Before I got married I had plans for my future, but those plans changed (at least a little) when I decided to get hitched. I adapted my strategy to accommodate my husband &mdash; but I didn't derail it altogether, and I don't recommend that you do either. It's about compromise &mdash; it's beneficial to discuss your specific plans and goals ahead of your nuptials. Your partner may not want to open that new business, or carry the potential financial burden that comes along with it. On the other hand, your spouse may be totally on board with how you've mapped out your financial future and/or investments, and vice-versa. But you won't know until you discuss it.</p> <p>Lay it all out on the table before getting anywhere near the altar so you each have a clear idea of where your relationship is headed financially (in theory, at least) once you're joined in holy &mdash; and legally binding &mdash; matrimony.</p> <h2>3. Schedule Uninterrupted Time to Discuss Your Finances in Depth</h2> <p>The only way my husband and I stay on the same page about our finances &mdash; and, specifically, the money that's coming in and going out on a constant basis &mdash; is to schedule time to discuss where we're at financially. We usually have a dinner date once a month where at least part of the conversation is about our budget, expenses, debt, and increases or decreases in expected income.</p> <p>We also have an annual meeting at the end of the year to discuss what we anticipate the next year's expenses to be, and how we plan to meet them. While it's not easy integrating another person into the mix financially &mdash; and it can sometimes be stressful for you if you've overspent or missed a bill and you don't want it to result in an argument &mdash; it's needed so that you can both stay on track and repair snags together.</p> <h2>4. Keep Your Family Out of Your Finances &mdash; Period</h2> <p>In a perfect world, we'd all be rich and nobody would want for anything. That's not the case, however, and sometimes family and friends come knocking for a loan. My general rule is to not provide this type of financial support to anyone, as it rarely turns out well &mdash; and most people will tell you that. My husband, on the other hand, views this subject differently, and there's been at least one time where there was zero discussion about providing the loan to a family member, and I didn't find out about it until after the fact.</p> <p>I wasn't particularly bothered by the amount of the loan or to whom it went &mdash; it was his money and he could do what he wanted with it &mdash; but rather that I wasn't included in the conversation. Even though I wasn't contributing to this particular loan, it could have affected our ability to purchase or finance something we needed down the road, and I felt as if I had the right to be informed.</p> <h2>5. You're Morally and Legally Obligated to Help One Another Financially</h2> <p>Whether you like it or not, whatever happens to your spouse financially also, in a sense, happens to you. This could mean a moral obligation to get out of whatever money pickle you may have gotten into, or, worst-case scenario, it could be a legal obligation, like if you file joint taxes and owe the government money. The IRS debt may be the result of one or the other's financial status &mdash; like if you have taxes taken out automatically each pay period from employment, but your spouse is an entrepreneur (like I am) who pays estimated taxes &mdash; but legally you're both on the hook for the debt. Not being prepared for this situation, or how to handle it responsibly and fairly, can lead to resentment and loads of other issues that you're better off without.</p> <h2>6. Keeping Separate Accounts Can Help Maintain Some Independence</h2> <p>My husband and I keep a joint account for shared purchases, like vacations, but we've also always maintained our own separate checking and savings accounts. For some couples this may seem odd, but for us it's helped us keep a part of our individual independence intact. While we consult each other on major purchases, we don't have to ask one another if we can buy some of the smaller things or little luxuries that we want, which in turn helps us to avoid nitpicking each other about things we don't think the other one should be buying.</p> <p>I can only imagine how couples who co-mingle all their money argue about how many coffees or beers each is buying per week, the 19th pair of new shoes she's bought this year, or the new video game he brought home. The bottom line for us is that the bills get paid and we're still able to save; we're allowed to treat ourselves every now and then without having to ask permission or fear retribution.</p> <h2>7. Debt Can Destroy Your Relationship &mdash; If You Let It</h2> <p>A few years ago I discovered a substantial amount of debt that my husband racked up, and I was completely gutted over the situation. How, why, when, where? So many questions went through my mind, not the least of which was, how are we going to pay this off? I was lucky in that regard as my husband took full responsibility for it and promised to pay it off himself &mdash; and he has. But it may not work out like that for everyone.</p> <p>If your partner isn't capable of paying off the debt, you, in fact, may be responsible for it too if it's attached to a joint credit card or another joint account. When that happens, it will likely put a major strain on your relationship. Old debt is one thing, but new debt &mdash; that is, debt acquired singularly by one partner while you're in the relationship &mdash; has a much more damaging and lasting effect. We were able to get past this and get back on track, but it's not easy. It definitely puts stress on the marriage, which can further worsen an already rocky relationship.</p> <h2>8. Money Doesn't Buy Happiness</h2> <p>All the houses, nice cars, designer clothes, and luxury goods in the world will not make you happy in a relationship you don't want to be in. When you're sitting among all your beautiful things and you wonder why you seemingly have everything but still aren't satisfied, you need to look beyond the bling. There's a deeper issue for which you're trying to compensate. Talk about it; make decisions. Your mental health is worth more than what's in your bank account &mdash; always. Remember that.</p> <p><em>What has marriage taught you about money?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/8-things-i-learned-about-money-after-getting-married">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-simple-ways-to-split-bills-with-your-spouse">3 Simple Ways to Split Bills With Your Spouse</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/make-love-not-money-sort-of">Make Love, Not Money (Sort Of)</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">4 Bad Money Habits You&#039;re Teaching Your Kids</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-surprising-ways-bad-credit-can-hurt-you">15 Surprising Ways Bad Credit Can Hurt You</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/when-should-you-say-no-to-those-who-want-to-borrow-money-from-you">When Should You Say No to Those Who Want to Borrow Money from You?</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Family Lifestyle budget meetings compromises credit scores debt marriage money lessons relationships spouses Tue, 24 May 2016 09:30:21 +0000 Mikey Rox 1716048 at http://www.wisebread.com What You Can Buy With $5,000 http://www.wisebread.com/what-you-can-buy-with-5000 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/what-you-can-buy-with-5000" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/kitten_cash_000008767834.jpg" alt="Learning you can buy a kitten and more for $5,000" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p><em>If I had a million dollars&hellip;</em></p> <p>So the song by Canadian alt rockers Barenaked Ladies goes. While it may be fun to imagine what you would spend a cool mill on, it's a lot more realistic to imagine that you may find yourself with $5K to dispose of as you wish. Maybe you got a big tax refund this year, or an unknown uncle left you a little something.</p> <p>Whatever the backstory, here are 11 fun and/or responsible things you could do with $5,000.</p> <h2>1. Pay Off Credit Card Debt</h2> <p>The average American household with credit card debt owes about $15,000. If this is you, making only the monthly minimum payment at a very typical 15% annual interest rate, it could take you seven years to pay off &mdash; and you'd end up wasting $8,000 to $9,000 on interest.</p> <p>Pay down $5,000 of that debt now, and you could finish paying the rest in half the time, for only about $3,000 total interest. (See also: <a href="http://www.wisebread.com/when-to-do-a-balance-transfer-to-pay-off-credit-card-debt?utm_source=wisebread&amp;utm_medium=seealso1&amp;utm_campaign=article">Use a Balance Transfer to Pay Off Debt Faste</a>r)</p> <h2>2. Get a Cat</h2> <p>Half leopard, half house cat, the Bengal is a beautiful animal and can be yours for <a href="http://adorablekittens.com/20-of-the-most-expensive-cat-breeds-in-the-world/18/">just about $5,000</a>.</p> <p>If being ignored by one feline doesn't cut it for you, you can get more cat for your cash by adopting. With an average fee of around $100, you could bring home <a href="http://www.thecatsite.com/a/how-much-does-it-cost-to-adopt-a-shelter-cat">50 felines for $5,000</a>. Then again, maybe you'll need to save some money for litter and food &mdash; and a really good vacuum cleaner.</p> <h2>3. Start a Business</h2> <p>There are a number of low-overhead businesses you could start with a $5,000 or smaller investment, many of them work-from-home gigs such as being a <a href="http://www.cheatsheet.com/business/15-businesses-you-can-start-with-5000-or-less-2.html/?a=viewall">virtual assistant</a> (expenses include computer, phone, Internet, and possibly training and marketing). You could also buy a small franchise, such as a <a href="http://www.thefranchisemall.com/franchises/details/13818-0-all_american_hot_dog_carts.htm">hot dog cart</a>, for $5,000 or less.</p> <h2>4. Take Your Inner Geek on a Vacation of a Lifetime</h2> <p>For about $5,000, you can take the <a href="http://www.firstlighttravel.com/group-tours/new-zealand-adventure-tours-new-zealand/new-zealands-lord-rings-location-tour">Lord of The Rings New Zealand Tour</a>. The trip includes staying at the adorable Hobbit Hotel &mdash; but second breakfasts and elevenses are on you.</p> <h2>5. Bank It</h2> <p>Interest rates are still low, but you can get <em>some</em> return on your money if you deposit it.</p> <p>EverBank currently pays 0.61% on its money market accounts and compounds interest daily, so after five years of compounding interest, you would have $5,154. So basically, after five years of saving, you'll have earned enough interest to buy a scooter or have your house cleaned once.</p> <h2>4. Give It to an Old Person: Future You</h2> <p>If you're not regularly depositing money in an IRA from your paycheck, you can meet almost the entire year's <a href="https://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics-IRA-Contribution-Limits">maximum deposit</a> with a $5,000 lump sum contribution.</p> <p>Because traditional IRAs grow tax-free, you might be amazed at how much your $5,000 deposit could blossom into by the time you retire. Assuming a 7% annual return, if you deposit $5,000 at age 20, you could have more than $50,000 by age 65. Not bad!</p> <h2>5. Indulge Yourself for a Year</h2> <p>For $5,000, you could get a one-year subscription to a <a href="https://www.caskers.com/clubs/whiskey/">whiskey club</a> ($600), a <a href="http://www.1-800-kobebeef.com/48ozkobestpe.html">Kobi beef of the month club</a> ($1,250), a <a href="http://thefreshlobstercompany.com/product-category/seafood-of-the-month-club/">seafood of the month club</a> (about $1,660), a <a href="http://www.sweetemotionscandy.com/">candy of the month club</a> (about $300), and order one <a href="https://www.soothe.com/sf?utm_source=google&amp;utm_medium=cpc&amp;utm_campaign=san+francisco&amp;gclid=CjwKEAjw0pa5BRCLmoKIx_HTh1wSJABk5F_4CGfgwWvoqqotkCvC7pNOm8aG4rKMnxmebDmV5JZU7BoCyJDw_wcB">in-home massage</a> per month ($1,200). A great deal for xenophobes, freelance writers, or folks on house arrest!</p> <h2>6. Donate to Charity</h2> <p>It will make you feel great, and you can deduct your gift from your taxable income. Make sure your recipient is a qualified nonprofit &mdash; you can look it up on the <a href="https://apps.irs.gov/app/eos/">IRS website</a> &mdash; and remember that you need a letter of verification from the charity for all donations over $250.</p> <h2>9. Eat a Burger</h2> <p>The <a href="http://www.alux.com/most-expensive-burger-in-the-world/">Fleurburger 5000</a>, served at Hubert Keller's Fleur eatery in Las Vegas, is made with Wagyu beef, foie gras, shaved black truffles, and truffle oil. It comes with a bottle of fine wine &mdash; and fries.</p> <h2>10. Grill Your Own Burgers In an Outdoor Kitchen</h2> <p>While you can flip burgers on the most inexpensive hibachi, making your yard into a <a href="https://www.angieslist.com/articles/how-much-does-outdoor-kitchen-cost.htm"><em>plein air</em> living space</a> where you can comfortably cook starts around $5,000 for a decent grill, an island with a built-in refrigerator, and a dining set.</p> <h2>11. Skip Waiting in Lines for a Year</h2> <p>Estimates for how much time Americans spend waiting in line in a lifetime vary from <a href="http://content.time.com/time/magazine/article/0,9171,1657807,00.html">two to five years</a>. That boils down to hundreds of hours per year! You can pay line waiters about $25 per hour on TaskRabbit or through local services. So for $5,000, you can get out of 200 hours of line waiting. Pro tip: Don't blow it all on one phone.</p> <p><em>What would you do with $5000?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-kirby">Carrie Kirby</a> of <a href="http://www.wisebread.com/what-you-can-buy-with-5000">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-free-things-that-arent">8 &quot;Free&quot; Things That Aren&#039;t</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/unbearably-stupid-packaging">Dumbest packaging ever?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flower-power-a-guide-to-frugal-valentines-flowers">Flower Power - A Guide to Frugal Valentine&#039;s Flowers</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-life-is-wonderful-when-youre-debt-free">6 Ways Life is Wonderful When You&#039;re Debt-Free</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-surprising-ways-to-save-money-during-your-pregnancy">5 Surprising Ways to Save Money During Your Pregnancy</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle Shopping donating extra money Food Paying Off Debt pets savings Splurging windfalls Wed, 18 May 2016 09:30:22 +0000 Carrie Kirby 1703944 at http://www.wisebread.com Should You Budget Like You Diet? http://www.wisebread.com/should-you-budget-like-you-diet <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/should-you-budget-like-you-diet" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_cupcakes_000055050698.jpg" alt="Woman budgeting the way she diets" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>&quot;Spend less&quot; is right up there with &quot;lose weight&quot; and &quot;eat better&quot; as one of the more popular New Year's resolutions of all time. We are almost halfway through 2016 and, whether your resolutions are going well or poorly, there's probably room for improvement.</p> <p>It's a great time to sit back and evaluate your resolutions. Are you achieving your goals? Do you feel half-hearted, at best, about the things you're pursuing? What can you do to improve over the rest of the year?</p> <p>If you wanted to <a href="http://www.wisebread.com/6-old-school-tools-to-help-you-stay-on-budget" target="_blank">budget better and spend less</a>, you can take some hints from the people trying to lose weight. In some ways, these are very similar endeavors, and you can learn from the things we know about losing weight to gain some financial heft.</p> <h2>Think Simple</h2> <p>Michael Pollan is famous for saying that we should only eat food with <a href="http://www.webmd.com/food-recipes/20090323/7-rules-for-eating">five or fewer ingredients</a>, all of which we recognize and can pronounce. This helps dieters to eliminate junk from their diets, and a similar simplicity can help you spend less.</p> <p>Think about paring down your life so that you only buy things you need, or taking certain extravagant categories out of your budget entirely. You might consider selling the five pairs of shoes that you never wear and replacing them with one that actually meets your needs. Or maybe you don't really need to go to happy hour every evening, after all. When you eliminate these things from your financial diet, you will spend less.</p> <h2>Prepare Yourself Ahead of Time</h2> <p>Some people gain weight simply because they never have healthy food around. They can combat this by meal planning and prepping &mdash; spending some time, once or twice a week, getting food ready for the next few days. This can include meals, snacks, even desserts. Similarly, if you sit down once a week to plan your spending, you can save money.</p> <p>Take 30 minutes every week to look ahead at what you'll need to spend money on. Maybe you need to buy lunch for your team at work this week, or you've got to have a new clothes dryer. Work out how you're going to find the money for those things. You can even do some research online, so you know about how much you'll spend. Even just having a ballpark figure in your mind can help you refrain from overspending when making the actual purchase.</p> <p>For larger items, take the time to research different options, etc. Decide what features you really need, want, and can afford, so you don't end up splurging last minute.</p> <h2>Consistency Is Key</h2> <p>One of the major principles of modern weight loss is consistency. You can't just eat well one or two days a week, but you need to make good food choices every day. Similarly, if you want to spend less money, you need to figure out how to consistently make good financial choices, too.</p> <p>Figure out what motivates you financially. Are you saving for a trip to the Caribbean? Do you want to buy a new car or a house or know that you can retire at 60? Keeping your goals in the forefront of your mind (and even writing them down where you can see them) will help you remember, every day, that every choice matters.</p> <h2>There Are No Villains Here</h2> <p>Dieters are learning that there's <a href="http://www.foodnavigator-usa.com/R-D/Is-the-there-is-no-such-thing-as-bad-foods-only-bad-diets-argument-helpful">no such thing as a bad food</a>. Sure, some foods have less nutritional value, but when you're craving something, it's better to have a little than to deprive yourself now and binge later. A similar principle can apply financially.</p> <p>If there's something you really want to buy, and you say no and think about it for a week or a month and you still want it, it's worth looking into ways to get it. If you need to save, start a special savings account. If you can fit it in your budget by taking other, non-essential things out, then make it work. Otherwise, wanting that thing can make you miserable.</p> <p>Along the same lines, there are no absolute rules for saving. There's nothing that says it's always wrong to spend money, and no saving formula that works for everyone. Instead of villainizing certain items and methods, realize that there is a time and place for everything, even in your budget.</p> <h2>Take Baby Steps</h2> <p>Dieters often find that taking baby steps &mdash; making small changes one at a time &mdash; is more effective for achieving their goals than overhauling their lives entirely. Budgeting and saving money can be like that, too.</p> <p>Instead of eliminating whole categories from your budget (&quot;I'm not going to eat out at all this month!&quot;), try making incremental changes (&quot;I'm only going to eat out twice, instead of four times, this week.&quot;). These kinds of changes will make you feel less like you are missing out, and you will still end up with more money in the bank than you would have otherwise.</p> <h2>Do It Yourself</h2> <p>People who cook their own food often end up weighing less than those who don't. In a similar vein, people who DIY it as much as possible often save money.</p> <p>Last week, my washing machine stopped working. I had several people send me names and numbers of repair folks. I'm sure they were well-intentioned, but I decided to try it myself, first. Sure, it took a couple of hours and some YouTube-ing, but I was able to do the necessary repairs on my own. I saved myself at least a couple hundred dollars because I didn't call the repair guy.</p> <p>There are a lot of things you can learn to do online in order to save yourself some cash. Sure, you have to balance the cost of your time and energy with what you'd spend, but it's often fiscally worthwhile, not to mention satisfying, to do simple repairs and food prep yourself.</p> <h2>Take a Financial Cheat Day Now and Then</h2> <p>Some weight loss experts consider it wise to plan a cheat day (or a cheat meal) into your diet so you don't feel so deprived and end up binging. Planning a <a href="http://money.usnews.com/money/blogs/my-money/articles/2016-02-04/why-you-need-financial-cheat-days">financial cheat day</a> can function very much the same way.</p> <p>Note that a cheat doesn't have to be huge. Buy your coffee instead of making it one day a week, or take your family for authentic Mexican instead of Taco Bell. Plan your cheats around things you really want, things that are satisfying to you, and you'll be able to stick to a stricter budget the rest of the time and, ultimately, you'll spend less than if you tried to restrain yourself all the time.</p> <p><em>Do you budget like you eat? What does that look like for you?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/should-you-budget-like-you-diet">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/wisdom-from-my-favorite-frugal-tv-character-julius-rock">Wisdom from My Favorite Frugal TV Character - Julius Rock</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-big-expenses-you-can-easily-get-rid-of">10 Big Expenses You Can Easily Get Rid Of</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-healthy-changes-you-can-make-today">25 Healthy Changes You Can Make Today</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-save-an-extra-109486-a-year">How to Save an Extra $1,094.86 a Year</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/cooking-for-beginners-10-recipes-for-kitchen-newbies">Cooking for Beginners: 10 Recipes for Kitchen Newbies</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Food and Drink Lifestyle cheat days cutting costs DIY expenses simplifying spending less Tue, 17 May 2016 09:30:26 +0000 Sarah Winfrey 1706850 at http://www.wisebread.com 4 Bad Money Habits You're Teaching Your Kids http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-bad-money-habits-youre-teaching-your-kids" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/child_hammer_piggy_bank_000070437303.jpg" alt="You are teaching your kids bad money habits" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Money is a taboo subject in our culture, which means it can be tough for parents to know how to talk to their kids about it. But children are little sponges, and the lessons they learn about money may not be the ones you intend to teach them.</p> <p>Here are four bad money habits you might be passing along to Junior and Sis, without even realizing &mdash; and how to start teaching them positive money lessons. (See also:&nbsp;<a href="http://www.wisebread.com/6-fun-games-that-teach-your-kids-about-money?ref=seealso" target="_blank">6 Fun Games That Teach Your Kids About Money</a>)</p> <h2>The Bad Habit: Entitlement</h2> <p>Every single parent has had this moment. You have made it clear to your kid that they may <em>not</em> have the candy bar or Thomas the Tank Engine figurine or other coveted <em>object du jour</em> &mdash; but the fit they throw in the store is worthy of a gold medal at the temper tantrum Olympics, and it's easier to give in than fight your sobbing child all the way back to the car.</p> <h3>How You Teach It: Caving in to the Tantrum</h3> <p>We all know this is the wrong move, but some days your nerves are stretched to the breaking point and it's just easier to buy the candy bar. However, making a habit of caving to a tantrum can lead to a child who rivals Veruca Salt in feeling entitled to anything and everything money can buy.</p> <h3>The Better Move: Acknowledge Your Child's Wants</h3> <p>The best way to head off an incipient <em>I want it NOW</em> temper tantrum &mdash; and thereby teach the difference between needs and wants &mdash; is to recognize that to your child, this <em>is</em> a big deal.</p> <p>For instance, with my own kids, I will often respond that the candy bar <em>does </em>look delicious, but that it's going stay at the store and not come home with us. Similarly, I encourage my kids to say &quot;bye-bye&quot; to toys or books they want me to buy, giving them the opportunity to make the transition from coveting the item to letting it go. It's not a foolproof method, but it does help them to at least have a framework for letting go of wants that they can't have.</p> <h2>The Bad Habit: A Scarcity Mindset</h2> <p>Knowing how much to tell your kids about big topics is something that all parents grapple with, and money is no different. That's why many parents end up simply falling back on stock answers like &quot;We can't afford it&quot; when their kids ask for something.</p> <h3>How You Teach It: Saying &quot;We Can't Afford That.&quot;</h3> <p>The problem with doing this is twofold. On the one hand, it can make kids feel resentful about how money is spent in the family if they do not understand why you make the financial decisions you do. They might notice that their sibling got new shoes but you couldn't afford the video game they wanted that cost the same amount.</p> <p>In addition, hearing that something is unaffordable can make kids worry about money and start focusing on instant gratification. Kids who hear that their parents can't afford something are learning that money is a scarce commodity, and that it should be used up quickly when it is available.</p> <h3>The Better Move: Invite Your Children to Plan Their Purchases</h3> <p>The big problem with the scarcity mindset is that it leads to zero-sum thinking and takes control out of your child's hands. If your teen wants to go on a ski trip with her friends, saying &quot;We can't afford that&quot; simply shuts down the entire discussion and makes her think that things might be more affordable if it weren't for that bratty little brother of hers.</p> <p>Instead, you could ask your teen &quot;How can you afford this?&quot; and put the control right back in her hands. That will allow her to start thinking of money as something she can earn and control, rather than something that controls her life.</p> <h2>The Bad Habit: Relying on the Bank of Mom and Dad</h2> <p>Your son has spent all of his allowance for the week when he is invited to go to the fair with his friends. Even though you swore you wouldn't give him an advance on next week's allowance again, you hand over some cash so he doesn't miss out on fun with his friends.</p> <h3>How You Teach It: Solving Your Kids' Problems for Them</h3> <p>This is such an easy habit to fall into, but it's a terrible lesson for your child. Watching your kid miss out on something &mdash; even if the problem is their own making &mdash; is tough for parents. You want to give them a fun childhood.</p> <p>But it is so important for children to learn that financial decisions have consequences, and spending all of their allowance money as soon as they have it means there's no money for other opportunities.</p> <h3>The Better Move: Let Your Kids Be Disappointed</h3> <p>It is far better to learn the lessons about financial planning when the stakes are low than when your child is an adult and has to ask you for rent money. Feeling the disappointment of missing out on the fair and understanding that you are not there to bail them out of financial woes is a lesson that will stay with your child &mdash; and keep you from having to maintain the bank of Mom and Dad into their adulthood.</p> <h2>The Bad Habit: Seeing Work as a Chore</h2> <p>Unloading about your terrible day at work is a natural reaction to stress. It's not a big deal to let your spouse and family know that you've had a tough day and that no one is to say the word &quot;spreadsheet&quot; within your hearing for the evening.</p> <h3>How You Teach It: Complaining About Your Job</h3> <p>The problem is when the only way you talk about work is through complaints. This teaches your children that work is a chore that must be gotten through in order to collect a paycheck. And while work can sometimes be that, it can also be a satisfying career, or even a higher calling that energizes you. Even if you do not have that kind of relationship with your job, you do want your kids to know that it's possible.</p> <h3>The Better Move: Express Whatever Gratitude You Can for Your Job</h3> <p>One of my favorite parts of the truly terrible final episode of <em>How I Met Your Mother</em> was the running gag about how much the character Marshall hated his corporate law job, but refused to say anything negative about it. Instead of complaining, he would say that his chair was reasonably comfortable and that he didn't cry at work more than twice that week.</p> <p>Though this is clearly an exaggeration, it is a good method to adopt when your job is stressful. Not only will you remember the good things in your job &mdash; even if it's just the fact that you're grateful to have a paycheck &mdash; but it will also help you remember that your kids are learning about the world from you. You don't want them to think growing up is the worst thing in the world.</p> <h2>Teach Your Children Well</h2> <p>Money habits are often picked up unconsciously, rather than taught. Instead of letting your children unknowingly learn negative financial habits, make sure you are intentional with your money lessons. It will pay off in the long run, even if it does cause more temper tantrums in the short run.</p> <p><em>Are you teaching your kids these &mdash; or other &mdash; bad money habits? What are you doing instead?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/emily-guy-birken">Emily Guy Birken</a> of <a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-10"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-having-kids-makes-you-more-frugal">8 Ways Having Kids Makes You More Frugal</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-fun-games-that-teach-your-kids-about-money">6 Fun Games That Teach Your Kids About Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-financial-pitfalls-stay-at-home-parents-should-avoid">5 Financial Pitfalls Stay-at-Home Parents Should Avoid</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-time-management-skills-that-will-help-your-kid-win-at-school">10 Time-Management Skills That Will Help Your Kid Win at School</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-tax-mistakes-new-parents-make">4 Tax Mistakes New Parents Make</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Family Lifestyle allowances bad habits children job stress kids money lessons spoiled Wed, 11 May 2016 10:00:11 +0000 Emily Guy Birken 1703949 at http://www.wisebread.com Does Personality Type Determine Your Income? http://www.wisebread.com/does-personality-type-determine-your-income <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/does-personality-type-determine-your-income" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_wearing_glasses_000043951776.jpg" alt="Woman&#039;s personality type determining her income" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Designed to decode and make sense of a person's perception of the world, the <a href="https://www.16personalities.com/personality-types">Myers-Briggs personality test</a> has been helping people tap into their psyche in order to boost career and relationship successes since the 1960s. Now you can also use Myers-Briggs to discover whether you're likely to earn more money or power in the workplace.</p> <p>A new analysis of nearly 26,000 people representing diverse Myers-Briggs personality outcomes offers a glimmer of insight into <a href="http://www.truity.com/sites/default/files/PersonalityType-CareerAchievementStudy.pdf">income and job satisfaction potential</a>, complete with tips for capitalizing on your top money-making traits. Read on to find out whether you're destined for great fortune, and if you're not, what you can do about it. (See also:&nbsp;<a href="http://www.wisebread.com/6-reasons-introverts-make-the-best-employees?ref=seealso" target="_blank">6 Reasons Introverts Make the Best Employees</a>)</p> <h2>Extroverts Rake It In</h2> <p>Here's how it works: Myers-Briggs asks us a series of questions, analyzes our behavioral tendencies based on our answers, and then assigns us one of 16 personality types. These personality types are based on four major psychological preferences. One of those preferences is Extroversion versus Introversion.</p> <p>Extroverts are those who prefer to focus their time and energy on what's going on in the world around them, while Introverts preoccupy themselves with their own inner world of ideas. When it comes to bringing home the bacon, it turns out that Extroverts have the bigger payday. In fact, of all the Myers-Briggs personality types, Extroverts are the top earners. The reason is this: Extroverts are generally more willing to take on managerial roles, and these roles often bring about a boost in income. Introverts, on the other hand, tend to be among the lowest earners, for reasons including a general aversion to managerial responsibility.</p> <h2>Thinkers and Judgers Earn More</h2> <p>Some of the highest earners are Thinkers &mdash; those who like to analyze the pros and cons of a situation before making a decision, rather than focusing on the people involved &mdash; and Judgers &mdash; those who prefer a structured lifestyle as opposed to one that's more flexible. Your fortune is likely to be even higher if your personality encompasses both these traits.</p> <p>Thinkers are more likely to take on a supervisory role in the workplace, which usually leads to higher incomes. Thinkers, however, tend to have lower job satisfaction in these supervisory roles, which means it's important for Thinkers to be aware that increased wealth doesn't equal increased happiness. Folks who are Judgers, on the other hand, are inclined to pay close attention to organization and scheduling at work &mdash; and that seems to lead them to greater success and, in turn, higher pay.</p> <h2>Sensors Trump Intuitives</h2> <p>One of the psychological preferences analyzed by Myers-Briggs is Sensing and Intuition. The breakdown is as follows: If you pay more attention to information gathered through your five senses, you fall under the Sensing category. You are Intuitive if you place a high value on impressions or the meaning of patterns in the information that comes your way.</p> <p>All of us are Sensing and Intuitive at one time or another, but most of us have an inclination toward one or the either. Here's the good news for Sensors: Your income tends to be higher than that of Intuitives. That's because Sensors are slightly more likely than Intuitives to manage larger teams. And as with the previous examples, managerial roles tend to pay better.</p> <h2>Fakers May Make the Most of All</h2> <p>Of course, anyone can develop a personal organization practice to stay on top of deadlines like a Judger or take on a job at the highest rung of the corporate ladder like an Extrovert. And that means anyone can boost his or her chances of attaining a higher payday by adopting favorable behaviors that don't come naturally. You can't alter your personality type, but you can certainly fake it to your benefit.</p> <p><em>What's your type? Does it match your earnings?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/brittany-lyte">Brittany Lyte</a> of <a href="http://www.wisebread.com/does-personality-type-determine-your-income">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/invest-your-time-in-these-13-things-while-youre-in-your-20s">Invest Your Time in These 13 Things While You&#039;re in Your 20s</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/financial-tricks-to-master-for-a-happier-life">Financial Tricks to Master for a Happier Life</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/retirement-on-the-installment-plan">Retirement on the installment plan</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/living-a-life-of-weisure">Living a Life of Weisure?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">4 Bad Money Habits You&#039;re Teaching Your Kids</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle career earnings extroverts introverts myers-briggs personality type thinkers Wed, 04 May 2016 10:30:04 +0000 Brittany Lyte 1699779 at http://www.wisebread.com 5 Reasons to Keep Your Money Separated After Marriage http://www.wisebread.com/5-reasons-to-keep-your-money-separated-after-marriage <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-reasons-to-keep-your-money-separated-after-marriage" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/wedding_married_couple_000059191426.jpg" alt="Couple learning reasons to keep money separate after marriage" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Money may not be the root of <em>all</em> evil &mdash; but it's the clincher in a great many relationships gone haywire. Research shows that arguing about money is by far the top predictor of divorce. &quot;It's not children, sex, in-laws, or anything else. It's money &mdash; for both men and women,&quot; says Sonya Britt, an assistant professor at Kansas State University who <a href="https://www.k-state.edu/media/newsreleases/jul13/predictingdivorce71113.html">conducted a study</a> of 4,500 couples about the interplay between financial arguments and relationship satisfaction.</p> <p>We all have deeply ingrained beliefs about how money should be spent, when it's appropriate to splurge, and how much we should have stowed away in savings. And it can be difficult to the point of deal-breaking to try and mesh our own attitudes about money with another person's financial beliefs, which very well may differ drastically from our own. That's why a large number of financial advisers urge couples to remain financially independent.</p> <p>Read on for our roundup of the top reasons why it pays to keep money matters separate in your relationship. (See also:&nbsp;<a href="http://www.wisebread.com/6-ways-regular-budget-meetings-might-save-your-marriage?ref=seealso" target="_blank">6 Ways Regular Budget Meetings Might Save Your Marriage</a>)</p> <h2>1. You'll Avoid a Power Imbalance</h2> <p>Merging finances means there's no more &quot;yours&quot; and &quot;mine&quot; in the money department. The divisions blur and it all goes into the same piggy bank. But what if your partner earns much more than you, and now you're suddenly living a lifestyle you can afford only with your partner's assist? What if the opposite is true, and you're subsidizing your partner's income with your own earnings? When your relationship is healthy and sparkling, you might not be bothered by either of these scenarios. But what about in the wake of a blowout fight?</p> <p>Or let's say you're the breadwinner in the relationship and you subsidize a good chunk of your partner's lifestyle because he or she isn't earning enough to keep up. Then, suddenly, you lose your job and your partner's income isn't enough to pick up the slack. Would you feel resentful? How would you cope with that? This is the kind of financial imbalance that has a tendency to instigate the fights that ultimately tear couples apart. Luckily, you can avoid them by keeping your financials separate from your sweetie's.</p> <h2>2. We're More Accustomed to Financial Independence Than Ever</h2> <p>Young adults are <a href="http://www.census.gov/hhes/families/data/marital.html">delaying marriage longer than ever</a> before. The average age of people at their first marriage in the U.S. today is about 27, which means many people rack up six or more years of complete financial independence before saying their vows. The money habits we develop during our years as single adults become so deeply ingrained in us that it's difficult to shift them in an attempt to mesh with the financial habits of our partner.</p> <p>And, unfortunately, finding common ground on financial matters is not necessarily something that gets better with practice. When asked how much they will need to save to maintain their current lifestyle in retirement, for example, nearly <a href="https://www.fidelity.com/about-fidelity/individual-investing/fidelity-couples-study">half of all couples are in disagreement</a> about the amount needed. This level of disagreement is highest, however, among those who are closest to retirement.</p> <h2>3. It Promotes Healthy Spending Habits</h2> <p>Financially independent couples tend to practice better discipline when it comes to paying off their own debts. And that makes for a healthy relationship. When one partner starts to feel like their partner's pockets are deep enough to offset the burden of their own financial risks, they sometimes become irresponsible in their spending and saving habits. And that can create the kind of friction that could start a fiery argument later on down the road.</p> <h2>4. It Balances the Burden of Money Stress</h2> <p>When one partner becomes the sole organizer of a couple's fiscal matters, he or she runs the risk of becoming overwhelmed by the responsibility &mdash; and that can throw an entire relationship off balance. But when both partners take charge of their separate finances and contribute to mutual expenses fairly, any money stress that arises is shared, making it much more manageable to find relief as a team.</p> <h2>5. A Breakup Won't Mean Financial Chaos</h2> <p>When you maintain financial independence, you avoid the risk of your personal financial situation falling apart just because your relationship did. Paying your fair share in a relationship also makes for a cleaner emotional break if you one day decide to split. When one partner consistently treats the other to dinners and vacations, or pays the majority of the bills, resentment is bound to brew during a breakup. The partner who paid more might even feel entitled to reimbursement.</p> <p><em>Separate or apart &mdash; how do you manage money with your partner? </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/brittany-lyte">Brittany Lyte</a> of <a href="http://www.wisebread.com/5-reasons-to-keep-your-money-separated-after-marriage">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/3-simple-ways-to-split-bills-with-your-spouse">3 Simple Ways to Split Bills With Your Spouse</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-types-of-friends-who-are-costing-you-money">10 Types of Friends Who Are Costing You Money</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/47-simple-ways-to-waste-money">47 Simple Ways To Waste Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-to-stop-your-spouse-from-overspending">4 Ways to Stop Your Spouse From Overspending</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-ways-an-income-gap-can-strain-your-relationship">4 Ways an Income Gap Can Strain Your Relationship</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle couples financial independence marriage power imbalances sharing money spending Wed, 20 Apr 2016 09:30:21 +0000 Brittany Lyte 1690618 at http://www.wisebread.com 6 Ways Life is Wonderful When You're Debt-Free http://www.wisebread.com/6-ways-life-is-wonderful-when-youre-debt-free <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-ways-life-is-wonderful-when-youre-debt-free" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_carefree_smile_000074865831.jpg" alt="Woman learning ways life is wonderful when debt-free" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Some people think debt is the norm rather than the exception. To each his own. Just know that this type of mindset can become dangerous, especially if you develop the habit of financing anything and everything.</p> <p>Credit cards and other loans can put what you want within financial reach, but a life without debt can be rewarding. Here are six ways life is frickin' awesome when you're not burdened by a negative net worth.</p> <h2>1. You Have the Freedom to Work Less</h2> <p>The more debt you have, the more you have to work to keep up with monthly payments. Whether it's a house payment, a car payment, or credit cards, debt holds your freedom hostage and keeps you stuck in a career or job you don't like. Think of how great life could be if you had fewer bills. Rather than working a 40- or 50-hour week, you might get by working only 20 or 30 hours a week. With fewer financial pressures, you can quit a high-stress job and find satisfying work, although you might earn less.</p> <h2>2. You Can Retire While You're Still Young</h2> <p>Even if you know the importance of early retirement planning, debt can limit how much you stash for the future. Eliminating needless debt and reducing monthly expenses frees up disposable cash, allowing you to grow your retirement account faster. A sizable account might be the difference between working into your 60s and retiring young while you're still healthy and energetic. And that's not even considering how good the &quot;everybody envies me&quot; factor is gonna feel.</p> <h2>3. You Can Finally Have a &quot;Real&quot; Savings Account</h2> <p>Not only can debt-free living boost your retirement account, there's also an opportunity to grow your personal fund. Imagine what you could do with a &quot;real&quot; savings account. I'm not talking about $500 or $1,000, but rather tens of thousands of dollars. This is money that can be used for an emergency, home improvements, investments, or a good time. You can take a much-needed (and deserved; do you, boo!) vacation or deal with home repairs without relying on a credit card.</p> <p>If you're struggling to build your personal account, be honest and consider whether your lack of savings has anything to do with debt payments eating up your extra cash. If you could eliminate $1,000 a month in debt payments (between credit cards, student loans, and automobile loans), you could save $12,000 in just one year.</p> <h2>4. You Will Become a Smarter Spender</h2> <p>I've learned something from my own experience with debt: It is easier to accumulate new debt when I already have debt. Whenever I have a zero balance on my credit card, I'm more cautious and conscious of how I spend my money and use the card. I'll second-guess or rethink the smallest purchases. It doesn't matter if it's only $5 or $10, I'll wait until I have cash to avoid using the card. But the moment I give in and use the card, I stop second-guessing myself and I continue using the card.</p> <p>I've had debt discussions with others and found that some people feel the same. Maybe it's just our experiences, or maybe there's a connection between existing debt and new debt. Either way, <a href="http://www.wisebread.com/the-fastest-method-to-eliminate-credit-card-debt">getting rid of debt</a> can make you more aware of your spending habits. Debt elimination can be a long process. Reflecting on the effort it took to become debt free (and the benefits) is motivation to remain debt free.</p> <h2>5. You Will Experience Less Financial Anxiety</h2> <p>Debt keeps you enslaved to a bank. And sometimes, the amount you owe can heighten your anxiety level. This might be the case if payments stretch your budget beyond a comfortable limit. If you get into hot water, you could lie awake worrying about late payments, a damaged credit score, or collection calls. On the other hand, when you live within your means and don't rely on financing, you enjoy an inner calm and better financial security. When you own your stuff outright, you don't have to worry about anybody taking your items, unless, of course, you fail to pay taxes on your home or car. Then, well, you better hide.</p> <h2>6. You Don't Have to Pay to Borrow</h2> <p>One of the best things about avoiding debt is that you avoid interest. Interest is the cost of borrowing, and most banks charge some form of interest when you take out a loan or use a credit card. The longer you carry the balance, the more interest you pay, which can add up to hundreds or thousands of dollars depending on the amount financed.</p> <p>Borrowers with superb credit may qualify for <a href="http://www.wisebread.com/5-best-credit-cards-with-0-apr-for-purchases">0% financing</a> for furniture, credit cards, or automobiles. But these promotions are short-lived and only beneficial if you pay off the balance during the introductory rate period. If not, interest kicks in. In the case of financing furniture, if you miss a payment or don't pay off the balance during the promotion period, you could end up paying retroactive interest. All this equates to extra money you're spending for which you have nothing to show. A fool's game, for sure. (See also: <a href="http://www.wisebread.com/when-to-do-a-balance-transfer-to-pay-off-credit-card-debt?ref=seealso">When to Use a 0% Balance Transfer to Pay Off Credit Card Debt</a>)</p> <p><em>What would you do if you were debt free? Travel? Retire? Throw the party to end all parties? Let's talk about it in the comments below.</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/6-ways-life-is-wonderful-when-youre-debt-free">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/goal-setting-getting-out-of-debt-once-and-for-all">Goal Setting: Getting Out of Debt Once and For All</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/beyond-debt-free-getting-by-in-the-new-economy">Beyond Debt-Free: Getting By in the New Economy</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/what-you-can-buy-with-5000">What You Can Buy With $5,000</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-inspiring-people-who-each-paid-off-over-100000-in-debt">5 Inspiring People Who Each Paid Off Over $100,000 in Debt</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-signs-youve-crossed-from-healthy-debt-to-problem-debt">8 Signs You&#039;ve Crossed From &quot;Healthy&quot; Debt to &quot;Problem&quot; Debt</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Debt Management Lifestyle borrowing debt free early retirement financial freedom net worth savings Tue, 19 Apr 2016 10:30:10 +0000 Mikey Rox 1691580 at http://www.wisebread.com Flashback Friday: The 76 Best Life Lessons You Should Learn by 30 http://www.wisebread.com/flashback-friday-the-76-best-life-lessons-you-should-learn-by-30 <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/flashback-friday-the-76-best-life-lessons-you-should-learn-by-30" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_smiling_coffee_000083191027.jpg" alt="Woman learning best life lessons by age 30" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Getting older is scary. You're losing your supple, wrinkle-free glow one day at a time, you're edging closer to retirement and you may or may not have a sufficient amount of money saved, and ultimately, you're running out of time to accomplish your goals. But the flip side of that is with age comes wisdom, and by age 30, you should have a ton of it. Mainly because everyone's 20s are a hot mess of transitions, frightening unknowns, and emotional ups and downs. So once your 20s are behind you, you're ready to live your life like a <em>boss</em>.</p> <p>Here are our 76 best bits of wisdom to become your best self by age 30.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/young_woman_money_000062037450.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/7-personal-finance-milestones-every-20-and-30-year-old-should-hit?ref=fbf">7 Personal Finance Milestones Every 20 and 30 Year Old Should Hit</a> &mdash; Successfully managing your money is a struggle at every age. But if you can come up with the right strategy by 30, and stick to it, then you'll be living a very sweet life.</p> <p><a href="http://www.wisebread.com/5-financial-mistakes-you-need-to-stop-making-by-30?ref=fbf">5 Financial Mistakes You Need to Stop Making by 30</a> &mdash; Just as important as learning what to do, is learning what not to do. You probably made all of these mistakes in the rough and tumble times in your 20s, but it's time to break these reckless habits by your third decade on Earth.</p> <p><a href="http://www.wisebread.com/10-things-to-stop-doing-on-social-media-by-30?ref=fbf">10 Things to Stop Doing on Social Media by 30</a> &mdash; We live in a digital age, in which the way you conduct yourself online is almost as important as the way you conduct yourself in person. So seriously, stop taking drunk, revealing selfies and plastering them all over the web.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/woman_cooking_000057441244.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/10-life-hacks-you-should-master-by-age-30?ref=fbf">10 Life Hacks You Should Master by Age 30</a> &mdash; From changing a tire to properly wrapping a present, these are the skills you should master by the time you hit the big 3-0. Some are easy, and some are hard, but all will make you a self-sufficient human. And that is priceless.</p> <p><a href="http://www.wisebread.com/5-life-mistakes-you-need-to-stop-making-by-30?ref=fbf">5 Life Mistakes You Need to Stop Making by 30</a> &mdash; Adulting is not always easy. In fact, most of the time, it's incredibly difficult. But by 30, it's truly time to grow up and stop making irresponsible life choices.</p> <p><a href="http://www.wisebread.com/12-foods-everybody-should-be-able-to-cook-by-30?ref=fbf">12 Foods Everybody Should Be Able to Cook by 30</a> &mdash; Even if you're not much of a cook, you should be able to throw together a basic and hearty meal for yourself in a pinch. From pasta to pancakes, these are the foods you should really know how to cook by now.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/30-somethings_financial_goals.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/10-money-goals-all-30-somethings-should-have?ref=fbf">10 Money Goals All 30-Somethings Should Have</a> &mdash; Now that your 20s are officially behind you, it's time to get serious about your financial goals. You've always dreamed of retiring on a beach with cocktails always in hand, yes? Well, now is the time to make that dream come true.</p> <p><a href="http://www.wisebread.com/8-career-mistakes-to-stop-making-by-30?ref=fbf">8 Career Mistakes to Stop Making by 30</a> &mdash; Decade numero tres is usually around the time people get laser-focused on their career goals. So if you're looking to switch industries, start your own business, or get a promotion, make sure you're always being your best self at work, and stop letting these mistakes slow you down.</p> <p><a href="http://www.wisebread.com/9-things-successful-30-somethings-do?ref=fbf">9 Things Successful 30-Somethings Do</a> &mdash; Oh you, wanna be a baller? Learn from the best, and adopt these smart habits of successful 30-somethings and you'll be well on your way.</p> <p><em>What are your tips for mastering the game of life by age 30? Share with us in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/chrissa-hardy">Chrissa Hardy</a> of <a href="http://www.wisebread.com/flashback-friday-the-76-best-life-lessons-you-should-learn-by-30">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-60-best-ways-to-use-food-other-than-eating-it">Flashback Friday: The 60 Best Ways to Use Food Other Than Eating It</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-95-best-ways-to-get-fit-for-free">Flashback Friday: The 95 Best Ways to Get Fit for Free</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-81-best-tips-for-saving-big-at-the-grocery-store">Flashback Friday: The 81 Best Tips for Saving Big at the Grocery Store</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-107-best-breakfast-hacks-to-start-your-day-off-right">Flashback Friday: The 107 Best Breakfast Hacks to Start Your Day Off Right</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-119-best-fitness-hacks-for-busy-people">Flashback Friday: The 119 Best Fitness Hacks for Busy People</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Budgeting Lifestyle budget fbf flashback friday frugal food Health saving money Fri, 08 Apr 2016 10:00:08 +0000 Chrissa Hardy 1686913 at http://www.wisebread.com Best Money Tips: Look Younger With These Lifestyle Tips http://www.wisebread.com/best-money-tips-look-younger-with-these-lifestyle-tips <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-look-younger-with-these-lifestyle-tips" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_sunny_face_000061337906.jpg" alt="Woman looking younger with lifestyle tips " title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found helpful articles on lifestyle tips that can make you look younger, money myths about millennials, and productivity tools for work and life.</p> <h2>Top 5 Articles</h2> <p><a href="http://savvyscot.com/10-lifestyle-tips-that-can-make-you-look-younger/">10 Lifestyle Tips That Can Make You Look Younger</a> &mdash; Protect your skin with sunscreen! Many skin products have SPF built in, so there's no excuse. [The Savvy Scot]</p> <p><a href="http://www.csmonitor.com/Business/Saving-Money/2016/0404/Five-money-myths-about-millennials">Five money myths about millennials</a> &mdash; Millennials are entitled, irresponsible, and they don't plan for the future&hellip;right? Well, no, not necessarily. [The Monitor]</p> <p><a href="http://blog.desktime.com/2016/04/04/top-productivity-tools-and-gadgets/">8 Productivity Tools for Work and Life</a> &mdash; Amazon Prime members can use the Dash Button to order household essentials with just a click. [DeskTime]</p> <p><a href="http://www.popsugar.com/smart-living/Highest-Paying-Jobs-US-40487730">The 25 Highest-Paying Jobs in America</a> &mdash; According to <a href="https://www.glassdoor.com/blog/25-highest-paying-jobs-america-2016/">Glassdoor</a>, the highest paying job in America is Physician, with a median base salary of $180,000. [PopSugar Smart Living]</p> <p><a href="http://www.thesimpledollar.com/should-you-always-buy-a-new-car/">Two-Sided Coin: Should You Always Buy a Used Car?</a> &mdash; Here are two arguments for and against buying a used car. Which side of this debate do you fall on? [The Simple Dollar]</p> <h2>Other Essential Reading</h2> <p><a href="http://everythingfinanceblog.com/17251/cheap-weekend-getaway.html">How to Plan a Fun Cheap Weekend Getaway</a> &mdash; When visiting a new place, go where the locals go. You may need to trek further out, but you'll have a better experience at lower prices. [Everything Finance]</p> <p><a href="http://www.dontmesswithtaxes.com/2016/04/april-2016-tax-moves.html">Tax moves to make on April 18 and beyond</a> &mdash; If you haven't filed your taxes yet, this guide will help you put the finishing touches on Form 1040. [Don't Mess With Taxes]</p> <p><a href="http://www.dumblittleman.com/2016/04/19-ways-get-motivated-exercise.html">19 ways to get motivated to exercise</a> &mdash; Incorporating little bursts of activity into your day will get your mind geared towards fitness. [Dumb Little Man]</p> <p><a href="http://www.lifeoptimizer.org/2016/04/05/how-to-read-faster-and-remember-more/">How to Read Faster and Remember More - 5 Strategies</a> &mdash; When you need to read quickly, scan for the important words &mdash; nouns and some adjectives. Your brain can fill in the gaps. [Life Optimizer]</p> <p><a href="http://parentingsquad.com/avoid-these-9-bedtime-mistakes-at-all-costs">Avoid These 9 Bedtime Mistakes at All Costs</a> &mdash; Not all kids enjoy brushing their teeth, but allowing your kids to skip this step &mdash; even once! &mdash; sets a bad precedent. More importantly, it could lead to cavities and other dental problems. [Parenting Squad]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-look-younger-with-these-lifestyle-tips">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/25-healthy-changes-you-can-make-today">25 Healthy Changes You Can Make Today</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-resistance-bands">The 5 Best Resistance Bands</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-exercise-mats">The 5 Best Exercise Mats</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/where-to-find-free-or-cheap-yoga-classes">Where to Find Free or Cheap Yoga Classes</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-legit-ways-to-use-the-gym-for-free">8 Legit Ways to Use the Gym for Free</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Health and Beauty Lifestyle best money tips look younger Wed, 06 Apr 2016 10:00:07 +0000 Amy Lu 1685570 at http://www.wisebread.com 6 Money Myths About Stay-At-Home Moms http://www.wisebread.com/6-money-myths-about-stay-at-home-moms <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-money-myths-about-stay-at-home-moms" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000054774912_Large.jpg" alt="busting stay at home mom myths" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>For most of the last five years, I've been a stay-at-home mom. Now, I've also done other things (like write for Wise Bread!) because I just can't help myself, but most of that time has been spent with my kids. I've wiped tears, changed diapers &mdash; the whole bit. And I chose that. It's what worked best for our family at the time, for a number of reasons.</p> <p>I've talked to a lot of people about my choice to stay home while the kids were little and, along the way, I've run into a lot of misconceptions like, &quot;So, you wear pajamas all day, right?&quot; Um, no. We actually leave the house most days.</p> <p>And a good number of those misconceptions are financial, or have financial implications. I have found these conversations both interesting and frustrating. Interesting, because I have come to know and understand how other people see me, and frustrating because they are usually so, so wrong. (See also: <a href="http://www.wisebread.com/4-common-money-misconceptions-about-women?ref=seealso">4 Common Money Misconceptions About Women</a>)</p> <p>Here are a few common myths about stay-at-home moms. Hopefully, this list will help you think about staying at home &mdash; or about friends who already stay at home &mdash; differently.</p> <h2>1. SAHMs Don't Make Money</h2> <p>I've had a good number of people assume that staying at home with my kids is all or nothing. I'm either out there working and bringing in income, or I'm at home, making zero dollars. The truth is, there's a huge amount of middle ground between those two scenarios. If we have an unexpected expense, I pick up writing and editing jobs to help cover it. If we decide we want to go on a trip that exceeds our current budget, I do the same thing.</p> <p>Most of the stay-at-home moms I know have some sort of side job that they do when or if they need to make some money. Sure, they don't bring in as much as they used to, but they are not entirely dependent on their significant other's income, either. And they do everything. So staying at home doesn't necessarily mean bringing in zero income.</p> <h2>2. SAHMs Wish They Made Money</h2> <p>I've had so many people ask me if it's hard for my husband and I to have him bringing in the majority of the income. &quot;Don't you wish you could at least make your own spending money?&quot; they'll ask.</p> <p>The truth is, before I started staying home with our kids, we had some hard conversations. Through those, we made decisions. All of our money, right now, is ours. It's not his or mine, but ours. What he brings in and what I bring in both go into a communal pot, and we can both spend from there as we see fit. We also budget together, so we jointly decide on financial goals and pursue them together.</p> <p>That's not to say that I never wish that I was making more money. But me staying home is a decision we made together, and my lack of income is not causing problems in my marriage.</p> <h2>3. SAHMs Are Penny Pinchers</h2> <p>Some people think that my family lives in borderline poverty because I stay at home. They assume that I clip coupons, shop sales, know thrift stores well, etc. While I'd probably be a better manager of our funds if I did all of that, I don't. I don't have to be frugal all the time, because we've budgeted in such a way that we have some financial freedom even though I'm not working.</p> <p>Not all stay-at-home moms are penny pinchers. I know myself, and I know that I'd go crazy if I had to make sure I saved on everything, so we have structured our lives in such a way that I don't. Sure, I love sales as much as the next person, but I don't limit myself to them.</p> <h2>4. SAHMs Spend Too Much</h2> <p>On the other hand, some people think that, because I stay at home, I spend a lot of money. I think these people have a picture in their head of a &quot;yummy mummy,&quot; or a wealthy housewife on a reality show, and that's not just me, nor is it any of the stay-at-home moms I currently know. Being at home really hasn't changed how I think about spending, though I do buy different things now than I used to.</p> <p>I've even had people say things like, &quot;Oh, you must, like, spend so much at Starbucks.&quot; Nope. I didn't buy a lot of expensive coffee before I stayed at home and I don't now. I suppose that someone who overspends before they stay home would be likely to continue those habits, but there's nothing inherent in staying home that makes a person develop expensive habits.</p> <h2>5. SAHMs Feel Like Slaves</h2> <p>&quot;But you're working for nothing,&quot; one friend said to me. &quot;Doesn't that get to you?&quot; I smiled. Not only am I saving the cost of daycare for three small children &mdash; which is not cheap, at least in our neck of the woods &mdash; but I'm doing jobs <a href="http://time.com/money/3461539/financial-habits-stay-at-home-parents/">worth over $110,000 a year</a>. Sure, I don't see that money, but I don't have to spend it, either!</p> <p>I think that some stay-at-home moms do end up feeling like slaves or servants, but most of us don't. Personally, I went into this gig with my eyes open. Sure, there's lots of manual labor, many not-so-glorious moments, and more tears and whining that I can honestly say I needed to hear, ever. But there is also the laughter, learning new things, and the moments of heartbreaking kindness that I wouldn't have seen otherwise.</p> <p>I'm not a slave. I simply chose to do some difficult things in exchange for some good ones. And which of us hasn't made that choice, sometime in our lives?</p> <h2>6. SAHMs Have It All</h2> <p>This is one of the misconceptions about being a stay-at-home mom that I run into the most, usually from other moms who have chosen to work full-time. &quot;Oh, you have it all,&quot; they will say. &quot;You're financially secure and you get to stay at home. I wish I could do that.&quot;</p> <p>Truthfully, we make sacrifices for me to stay at home. We don't drive new cars. We live in a house that is smaller, older, and less updated than those of most of our friends. We take low-key and inexpensive vacations, if we travel at all. My husband works more overtime than he'd like, so we can pay our bills.</p> <p>On the flipside, our financial security is wrapped up in one job, one company. If something ever happens to that, we will be in a world of hurt. All of our eggs, as they say, are in one basket.</p> <p>Is all of this worth it? Right now, yeah. Absolutely. But I don't have it all. I have simply chosen one set of sacrifices and joys over another.</p> <p><em>What are some other myths about stay-at-home moms (or dads)? Share with us in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/sarah-winfrey">Sarah Winfrey</a> of <a href="http://www.wisebread.com/6-money-myths-about-stay-at-home-moms">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/chinese-money-habits-how-my-culture-influences-my-attitudes-toward-money">Chinese Money Habits - How My Culture Influences My Attitudes Toward Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-76-best-life-lessons-you-should-learn-by-30">Flashback Friday: The 76 Best Life Lessons You Should Learn by 30</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/13-awesome-money-saving-sites">13 Awesome Money Saving Sites We Love at Wise Bread</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/life-without-tv">Life Without Television</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-119-best-fitness-hacks-for-busy-people">Flashback Friday: The 119 Best Fitness Hacks for Busy People</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Lifestyle common myths finances money misconceptions myths stay-at-home mom stereotypes Tue, 05 Apr 2016 10:30:10 +0000 Sarah Winfrey 1684936 at http://www.wisebread.com 4 Reasons 'Frugal' Shouldn't be a Dirty Word http://www.wisebread.com/4-reasons-frugal-shouldnt-be-a-dirty-word <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-reasons-frugal-shouldnt-be-a-dirty-word" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_shhh_face_000020798468.jpg" alt="Woman learning why frugal isn&#039;t a dirty word" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>What does living frugally mean to you? Do you think of deprivation and doing without, people merely scraping through in a life barely lived? Or maybe you think of fanatics, evangelizing for their way of life while extreme couponing and haggling in Walmart?</p> <p>Frugal living has had quite the PR problem. But modern frugality really isn't about hair shirts and gruel. Today many people come to frugal living through conscious choice, rather than necessity. They often find it's a lifestyle choice that can actually enrich. Here's why.</p> <h2>1. Frugal Choices Are Value Driven</h2> <p>It's a common misconception that frugal living is all about saving money &mdash; but sometimes the frugal choice is not the cheapest one. To take a simple example, the frugal choice when buying a key item you need to be long lasting, like a winter coat, might not be visiting the thrift store. You might actually be better off buying new, and buying the best quality you can afford. Apart from the wider range available, this is a good way to avoid the <a href="http://www.wisebread.com/the-high-cost-of-cheap-clothes">high price of cheap clothes</a>.</p> <p>That might not sound so different from the choice anyone else might make, but the crucial point is that it's an <em>examined </em>decision. Frugal choices are mindful, where wall-to-wall commercials and our consumer society tend to promote mindless, reactionary buying.</p> <p>A frugal mindset means that you're aware of your spending, thinking about the real purpose of a purchase before you make it. At its core, modern frugality is not about penny pinching. It's about attaching value to the right stuff. Which, of course, might not be stuff at all.</p> <h2>2. Living Frugally Offers Independence</h2> <p>There's little we Millennials prize more than independence. At first glance, frugality might seem to remove independence, forcing you to forgo opportunities and limiting your choices. And it's true that on a day to day basis, a frugal approach will see you dropping your skinny Starbucks latte habit, and put the kibosh on the designer handbag collection. But in the long run, a frugal life offers great independence.</p> <p>People who choose to live frugally deliberately reduce their material needs. If you need less, you can save more &mdash; but many choose frugality not for the option of filling up the coffers, but for the opportunity to rebalance work and life.</p> <p>Free from the need to keep up with your neighbors, you can critically examine how much money you need to earn for a lifestyle you will enjoy. As your financial needs diminish, you can choose to cut your working hours, take time for your hobbies, visit family, or study. Maybe you could even retire early.</p> <h2>3. Being Frugal Fosters Creativity</h2> <p>Necessity, as they say, is the mother of invention. Being frugal is a surefire way to foster self discipline and creativity.</p> <p>Take birthdays or celebrations, for example. When you start from a frugal mindset, gifts and parties are not about how much you spend, but about how much you <em>think</em>. No last minute, guilt-driven smash and grab at the shopping mall here. The same goes for eating. Frugal living is about cooking from scratch, planning a menu and shopping list, understanding and working with seasonality. Put down the <a href="http://www.wisebread.com/how-to-stop-the-takeout-meal-cycle-and-save">take-out menu</a>.</p> <p>Some elements of a frugal life are more demanding than others. That's where the self discipline comes in. But we humans are meant to be able to look after ourselves, and modern conveniences have stripped away some of that. Getting frugal is a great way to get creative, and experience the rewarding feeling of making something yourself, whether it's a gift or a gazpacho.</p> <h2>4. Frugality Promotes Personal Connections</h2> <p>Living frugally naturally leads to valuing experiences more than things. By being open and mindful to experiences, frugality can deepen personal connections.</p> <p>Traditional research into the science of happiness agrees. The Easterlin Paradox suggests that people could <a href="http://www-bcf.usc.edu/~easterl/papers/Happiness.pdf">ultimately be happier</a> if they devoted more time to non financial goals like spending time with family, or improving our health. More money, once your basic financial needs are met, does not make us happier &mdash; the idea that it does has been described as the &quot;money illusion.&quot;</p> <p>One reason for this is that a more consumerist outlook can inadvertently foster a sense of competitiveness. Even with those closest to you, you might get a jealous twinge looking at the latest flash purchase. Instead of comparing designer high heels, frugal people might share an experience with those around them. Get into the countryside for a walk or cook a meal together &mdash; just stay away from the mall!</p> <p>So, far from merely enduring a miserable existence, perhaps those embracing a frugal life are actually demonstrating that you can have more, with less. Maybe collecting a life full of experience is more rewarding than a closet full of clothes.</p> <p><em>What do you value about frugality?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/claire-millard">Claire Millard</a> of <a href="http://www.wisebread.com/4-reasons-frugal-shouldnt-be-a-dirty-word">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/cooking-for-beginners-10-recipes-for-kitchen-newbies">Cooking for Beginners: 10 Recipes for Kitchen Newbies</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-exercise-mats">The 5 Best Exercise Mats</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-is-how-americans-spent-their-money-in-the-1950s">This Is How Americans Spent Their Money in the 1950s</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/replace-these-8-luxury-buys-with-their-cheaper-better-alternatives">Replace These 8 Luxury Buys With Their Cheaper, Better Alternatives</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-underwater-watches">The 5 Best Underwater Watches</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle being frugal Cooking decision making independence millennials shopping Fri, 01 Apr 2016 10:30:05 +0000 Claire Millard 1682365 at http://www.wisebread.com Best Money Tips: How to Get Into Shape on a Shoestring Budget http://www.wisebread.com/best-money-tips-how-to-get-into-shape-on-a-shoestring-budget <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/best-money-tips-how-to-get-into-shape-on-a-shoestring-budget" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_running_outside_000072413839.jpg" alt="Woman getting into shape on a shoestring budget" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Welcome to Wise Bread's <a href="http://www.wisebread.com/topic/best-money-tips">Best Money Tips</a> Roundup! Today we found helpful articles on tips for getting into shape on a shoestring budget, filthy habits you should drop by 40, and secret ways to make your clothes last longer.</p> <h2>Top 5 Articles</h2> <p><a href="http://www.becauseimcheap.com/10-tips-for-getting-into-shape-on-a-shoestring-budget/">10 Tips For Getting Into Shape On A Shoestring Budget</a> &mdash; Need some motivation? Sign up for a local race of obstacle course! Most tend to run under $50, and the fees usually go to charity. [Because I'm Cheap]</p> <p><a href="http://www.stevenaitchison.co.uk/blog/6-filthy-habits-you-should-drop-before-you-hit-40/">6 Filthy Habits You Should Drop Before You Hit 40</a> &mdash; If you've been neglecting dental care, stop it right now! Your oral health greatly impacts your general, overall health. [Change Your Thoughts]</p> <p><a href="http://www.retiredby40blog.com/2016/03/28/7-secret-ways-to-make-your-clothes-last-longer/">7 Secret Ways to Make Your Clothes Last Longer</a> &mdash; Wooden hangers are less likely to snag and tear clothes, and their thickness keeps shirt shoulders in the correct shape. [Living on Fifty]</p> <p><a href="http://www.popsugar.com/smart-living/Why-You-Wake-Up-Tired-23268228">5 Reasons You Wake Up Tired Even With a Full Night's Rest</a> &mdash; It doesn't matter how long you sleep if it's low-quality rest. Things like sleeping with a pet, having caffeine late in the day, or having too much background noise can keep you from a restful night. [PopSugar Smart Living]</p> <p><a href="http://www.thesimpledollar.com/seven-skills-that-will-help-anyone-achieve-their-financial-goals/">Seven Skills That Will Help Anyone Achieve Their Financial Goals</a> &mdash; Patience is a good skill to have. It allows you to keep going even when you don't see the desired outcome right away. [The Simple Dollar]</p> <h2>Other Essential Reading</h2> <p><a href="http://www.5dollardinners.com/5-ways-to-make-mornings-more-managable-when-you-are-not-a-morning-person/">5 Ways to Make Mornings More Manageable&hellip;When You Are NOT a Morning Person</a> &mdash; Make good use of your evenings! Prep whatever you can the night before (make lunches, set out the next day's outfits, arrange backpacks and bags) so you won't have to do them the next morning. [$5 Dinners]</p> <p><a href="http://www.morewithlesstoday.com/salt-types-and-when-to-use-them/">Salt Types and When to Use Them</a> &mdash; There are many different kinds of salt, and certain kinds are better for certain tasks. Use rock salt if you're making ice cream or you want to get rid of the ice on your sidewalk or driveway. [More With Less Today]</p> <p><a href="https://blog.allstate.com/8-ways-to-tie-the-knot-without-breaking-the-bank/">8 Ways to Tie the Knot Without Breaking the Bank</a> &mdash; Consider having your wedding earlier in the day. Catering for a breakfast or brunch reception tends to be less expensive than dinner. [The Allstate Blog]</p> <p><a href="http://www.stackthechips.com/5-ways-fit-side-hustle-work-week/">5 Ways To Fit Your Side Hustle Into Your Work Week</a> &mdash; Carve out time to work on your side hustle like you would for an appointment. [Stack The Chips]</p> <p><a href="http://www.healthyarea.org/10-steps-fix-damaged-friendship/">10 Steps to Fix Your Damaged Friendship</a> &mdash; When you're meeting with a friend to try to repair a friendship, don't include other people in the discussion. The conversation should be between only you and your friend. [HealthyArea.org]</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amy-lu">Amy Lu</a> of <a href="http://www.wisebread.com/best-money-tips-how-to-get-into-shape-on-a-shoestring-budget">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-resistance-bands">The 5 Best Resistance Bands</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/36-workouts-you-can-do-in-your-living-room-while-its-cold-out">36 Workouts You Can Do in Your Living Room While It&#039;s Cold Out</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/50-ways-to-make-exercise-more-fun">50 Ways to Make Exercise More Fun</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-119-best-fitness-hacks-for-busy-people">Flashback Friday: The 119 Best Fitness Hacks for Busy People</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-best-exercise-videos">The 5 Best Exercise Videos</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle best money tips exercise fitness Thu, 31 Mar 2016 10:00:08 +0000 Amy Lu 1682212 at http://www.wisebread.com 9 Ways Being Too Responsible Can Cost You http://www.wisebread.com/9-ways-being-too-responsible-can-cost-you <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/9-ways-being-too-responsible-can-cost-you" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_stressed_overworked_000086169843.jpg" alt="Woman learning how being too responsible can cost her" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>You go through life looking to avoid risk. You look to save a dollar whenever you can. You're smart. Sensible. Responsible.</p> <p>But is this approach to life really the best thing for your finances? There may be times when a <em>little bit of risk</em> is better for you long term, or you may be so focused on one financial goal while you are neglecting another.</p> <p>Here are some examples of when being responsible has a financial downside.</p> <h2>1. You Have Too Much Liquid Savings</h2> <p>It always makes sense to have a sizable emergency fund to help cover unexpected costs, like a major car repair or medical emergency. But it doesn't make sense to carry massive amounts in a low-interest savings account to prepare for every conceivable disaster. Every excess dollar you keep in a basic savings account is a dollar that could be invested elsewhere, generating a bigger return and helping you build toward retirement. Opinions vary on how big your emergency fund should be, but few financial advisers recommend saving more than nine months of expenses. Don't steal from your future self by being too concerned about possible disasters now.</p> <h2>2. You're Too Focused on Saving for College</h2> <p>You're a responsible parent, and you want to help your kids pay for their college education. So you open a <a href="http://www.wisebread.com/the-9-best-state-529-college-savings-plans?ref=seealso">529 college savings plan</a> and pump money into it. That's great, but are you costing yourself future retirement funds in the process? In an ideal world, you can save plenty for both retirement and college costs, but it's important not to divert too much away from retirement. When it comes to saving, retirement should be your first focus. Your kids can always borrow for college, but you can't borrow money to retire.</p> <h2>3. You Always Buy the Cheapest Thing</h2> <p>Being frugal is usually a good thing. But there is some truth to the adage that you get what you pay for. If you consistently look to purchase the lowest-end version of a product just to save a few dollars, you may cost yourself in the long run. Sometimes things are inexpensive because they are low quality. And if something is cheaply made, you may end up replacing it sooner and costing yourself more in the long run. This is especially true for bigger ticket items like appliances. The best path financially is to search for value, not simply low cost, when shopping.</p> <h2>4. You Always Buy the Most Expensive Thing</h2> <p>Just like it's not necessarily best to buy the cheapest version of an item, you shouldn't reflexively go high-end all the time, either. It's a fine idea to pay more for quality and longevity in a product, but sometimes things are expensive due to unneeded bells and whistles, or because a manufacturer wants you to believe they have a premium product. Again, it's important to do your homework and find the correct balance between quality and price.</p> <h2>5. You're Too Helpful Sometimes</h2> <p>I would never advise against helping others. But there are some cases when you are putting your financial health at risk by lending others a hand. For instance, you may cosign a loan for your daughter so she can get a new car, but your credit could be ruined if she fails to make payments. You might &quot;lend&quot; money to your brother-in-law to start a business, even though you're fully aware he'll never pay you back. Generosity is okay, but it's best not to be too cavalier about lending or giving money to everyone that asks.</p> <h2>6. Your Investment Portfolio Is Too Conservative</h2> <p>You want to make sure that your retirement portfolio is protected from a stock market crash. So you invest heavily in stable investments like dividend stocks, bonds, and cash. This is fine if you are approaching retirement age. But if you're decades away from retirement, it pays to be far more aggressive. Sure, there will be times when your portfolio will take a big hit. But it will most likely go up over time, and you don't want to miss out on the years when there are big stock market gains. If you want to build the biggest retirement nest egg possible, it's best to shed your fear and invest heavily &mdash; perhaps even exclusively &mdash; in stocks when you are young.</p> <h2>7. You're Staying in the Same Job</h2> <p>So you like your job because it's got a steady paycheck and decent benefits. Staying put seems like the responsible thing to do. But there's some evidence to suggest that people who job hop can end up earning more. According to Forbes, employees who stay in a job longer than two years will end up earning 50% less in their lifetimes than if they switched jobs more often. Consider that the average raise these days is about 3%. Do you think you could command a bigger bump by looking elsewhere? If so, consider going for it. And don't worry about a short job stint hurting your resumé. Harvard Business review reported last year that there's <a href="https://hbr.org/2015/07/setting-the-record-straight-on-switching-jobs">no longer a stigma</a> against staying at a position for a short period of time.</p> <h2>8. You Paid Off Your House Early</h2> <p>There's always a desire to pay off that mortgage as soon as possible. If anything, it's a massive psychological boost to know you own your house free and clear. But there is a financial downside to paying your house off early, especially when interest rates are low like they are now. Let's say you have a 3.65% interest rate on a 30-year mortgage. But let's say you could earn a 7% annual return by putting money in the stock market. Where's a better place for your money? When investment returns are higher than your interest rates, there's no real compelling financial reason to pay off a loan early.</p> <h2>9. You Want to Fix Everything Yourself</h2> <p>You can definitely save money if you're handy. From plumbing repairs to changing your own oil in your car, it's often silly to pay someone to take on things you can do on your own. But do you know your own limitations? There are many instances when an attempt to fix something on your own can make a problem worse. (I know this from personal experience.) By hiring a professional to handle some repairs, you may have a better chance of ensuring things are done properly and constructed to last. This will save you money in the long run.</p> <p><em>Any other ways being too responsible costs us? Do the right thing and let us know in comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/tim-lemke">Tim Lemke</a> of <a href="http://www.wisebread.com/9-ways-being-too-responsible-can-cost-you">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/jettison-the-junk-why-clutter-clouds-your-mind-and-saps-your-energy">Jettison the Junk: Why Clutter Clouds Your Mind and Saps Your Energy</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-frugal-promises-i-have-not-kept">6 Frugal Promises I Have Not Kept</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-seven-deadly-sins-of-consumerism-and-the-frugal-redemption">The seven deadly sins of consumerism (and the frugal redemption).</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/can-i-conquer-my-vanity-for-the-sake-of-my-sanity">Can I Conquer My Vanity for the Sake of My Sanity?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-frugal-balance-staying-away-from-financial-extremes">The Frugal Balance: Staying Away from Financial Extremes</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle being too responsible costing you mortgage overspending saving too much Fri, 25 Mar 2016 10:30:04 +0000 Tim Lemke 1678302 at http://www.wisebread.com Flashback Friday: The 119 Best Fitness Hacks for Busy People http://www.wisebread.com/flashback-friday-the-119-best-fitness-hacks-for-busy-people <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/flashback-friday-the-119-best-fitness-hacks-for-busy-people" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_yoga_mat_000085758495.jpg" alt="Woman learning fitness hacks for busy people" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>&quot;I don't have enough time to work out.&quot; This is an excuse that most of us use to skip a scheduled sweat sesh. While it's true that there just aren't enough hours of the day to accomplish all of our tasks, it is still possible to make time to exercise regularly without shirking other responsibilities. All you need to do is find the right workout &mdash; something that you don't hate doing &mdash; that can also be done in tiny time increments. So instead of trying to set aside an hour each day to get in shape, you can almost certainly justify a handful of five or 10-minute workouts to do throughout the day.</p> <p>Here are our best 119 fitness hacks that require minimal time, and can fit into your normal schedule seamlessly.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/running-in-city-177433722-small.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/4-ways-to-get-toned-with-as-little-effort-as-humanly-possible?ref=FBF">4 Ways to Get Toned With as Little Effort as Humanly Possible</a> &mdash; Busy bees know that effort takes time, and time is money. These tips make it easy to get cut without cutting any of your daily tasks.</p> <p><a href="http://www.wisebread.com/8-personal-finance-moves-you-can-make-while-jogging?ref=FBF">8 Personal Finance Moves You Can Make While Jogging</a> &mdash; Multitasking is the key to masterfully managing a hectic schedule. So while you're going for a run, make these important money moves and you'll have less boxes to check on your to-do list!</p> <p><a href="http://www.wisebread.com/10-surprising-benefits-of-a-10-minute-walk?ref=FBF">10 Surprising Benefits Of: A 10 Minute Walk</a> &mdash; Don't shrug off the value of a quick stroll around the block. If that's all you have time for, remember that it'll be time well spent.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/family_exercising_000027499027.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/9-quick-workouts-you-can-do-during-commercial-breaks?ref=FBF">9 Quick Workouts You Can Do During Commercial Breaks</a> &mdash; Your end-of-day TV time is sacred to you, as it should be. This is how you unwind after a crazy day. But there's no reason you can't unwind while also working out! Here are nine quick workouts to do during the commercials.</p> <p><a href="http://www.wisebread.com/7-simple-ways-to-trick-yourself-into-burning-more-calories?ref=FBF">7 Simple Ways to Trick Yourself Into Burning More Calories</a> &mdash; Sometimes you need to trick yourself into doing things you're never in the mood to do. And for most of us, that includes exercising. And these tricks are brilliant, because it's like you're not even working out at all, while still burning calories.</p> <p><a href="http://www.wisebread.com/10-easy-back-exercises-that-will-help-eliminate-pain?ref=FBF">10 Easy Back Exercises That Will Help Eliminate Pain</a> &mdash; Nobody has time to be sidelined by back pain! These easy moves will combat tightness or soreness in your back, and keep you in tip top form to continue crushing it.</p> <p><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5171/fitness_1.jpg" width="605" height="340" alt="" /></p> <p><a href="http://www.wisebread.com/fitness-for-people-who-hate-exercise?ref=FBF">Fitness For People Who Hate Exercise</a> &mdash; Working out sucks, but it's gotta be done if you want to maintain your overall health and live to a ripe old age. So instead of making time for a fitness activity you abhor, give these a try and you'll always find the time.</p> <p><a href="http://www.wisebread.com/10-easy-ways-to-burn-almost-1000-extra-calories-per-day?ref=FBF">10 Easy Ways to Burn Almost 1000 Extra Calories Per Day</a> &mdash; When it comes to losing weight and becoming your best physical self, working out is only half the battle. These nutrition hacks will help you cut the excess calories, which will ultimately improve your energy and make exercise more fun! Speaking of more fun&hellip;</p> <p><a href="http://www.wisebread.com/50-ways-to-make-exercise-more-fun?ref=FBF">50 Ways to Make Exercise More Fun</a> &mdash; You will never find the time &mdash; not even 5-10 minutes &mdash; to workout if you hate your method of fitness. Here's how to make your sweat sesh way more enjoyable.</p> <p><em>What other ways can you get fit on a busy schedule? Share with us in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/chrissa-hardy">Chrissa Hardy</a> of <a href="http://www.wisebread.com/flashback-friday-the-119-best-fitness-hacks-for-busy-people">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-99-best-fitness-hacks-of-all-time">Flashback Friday: The 99 Best Fitness Hacks of All Time</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-95-best-ways-to-get-fit-for-free">Flashback Friday: The 95 Best Ways to Get Fit for Free</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/36-workouts-you-can-do-in-your-living-room-while-its-cold-out">36 Workouts You Can Do in Your Living Room While It&#039;s Cold Out</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-81-best-tips-for-saving-big-at-the-grocery-store">Flashback Friday: The 81 Best Tips for Saving Big at the Grocery Store</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/flashback-friday-the-76-best-life-lessons-you-should-learn-by-30">Flashback Friday: The 76 Best Life Lessons You Should Learn by 30</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Health and Beauty Lifestyle exercise fbf fitness fitness goals flashback friday frugal fitness Health workouts yoga Fri, 25 Mar 2016 10:00:09 +0000 Chrissa Hardy 1678944 at http://www.wisebread.com 6 Ways More Money Does Truly Lead to More Problems http://www.wisebread.com/6-ways-more-money-does-truly-lead-to-more-problems <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-ways-more-money-does-truly-lead-to-more-problems" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/man_with_cash_000073068135.jpg" alt="Man learning how money leads to more problems" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If you're struggling to pay the bills each month, you probably don't have much sympathy for your wealthier neighbor or for the millionaire who complains about paying too much in taxes. But here's the truth: Even those blessed with a lot of dollars can have money problems.</p> <p>The rich just have different kinds of money problems. They might not worry about having enough money to make their car payment, but they do worry about sending too much to Uncle Sam every tax day.</p> <p>Planning to get rich yourself someday? Here's a list of some of the problems that you might face when you have more money to worry about.</p> <h2>1. Higher Taxes</h2> <p>Income tax rates jump steeply the more money you earn, which means that unless you and your accountant get creative, you'll be sending more of the money you earn each year to the federal government.</p> <p>Say you earned $514,000 in 2015. When you pay your taxes on April 18 of this year, you'll be taxed 10% for the first $9,225 of your earnings, and 15% on every dollar from $9,226 to $37,450. This rate goes up until you hit the maximum. You'll be taxed at this maximum rate of 39.6% for every dollar you earn from $413,201 and up.</p> <p>The upshot? The more money you make, the more taxes you pay. At least that's the theory. It is possible through deductions for the wealthy to dramatically lower the actual dollars that they send to the government each year. Trying to lower your tax bills is definitely one problem that grows the more money you earn.</p> <h2>2. Lifestyle Creep</h2> <p>When you get a big raise, do you boost the amount of money you save each year in your <a href="http://www.wisebread.com/5-important-things-to-know-about-your-401k-and-ira-in-2016">401K plan</a> or IRA? Or do you buy a nicer car?</p> <p>It's all too tempting to improve your lifestyle when your annual income rises. This is known as lifestyle creep. And it's a problem that the wealthy have to work hard to avoid.</p> <p>The rich might feel pressure, for instance, to invest in a larger home once their income swells. The better financial move might be for them to stay in their current home and instead invest their extra income. The allure of all those extra bedrooms and baths, though, can overwhelm the good sense of even the most fiscally conservative of consumers.</p> <h2>3. The Arrival of &quot;Long-Lost&quot; Relatives</h2> <p>There's a reason why lottery winners often joke about changing their phone numbers. They're worried that their relatives &mdash; especially long-lost ones with whom they've had little contact &mdash; will start hitting them up for money.</p> <p>The same thing can happen when you've built up your wealth over the decades. Your relatives who are struggling with their finances will expect your monetary help. If you don't cough up some bucks? You can bet those relatives will resent you. That can lead to strained familial relationships.</p> <h2>4. What Does Your Spouse Really Love?</h2> <p>Getting married after you've become fabulously wealthy can be tricky. How will you know if your future spouse loves you or your money?</p> <p>The stereotype of the gold-digging spouse might actually be a myth, at least according to this recent story in the <em>Guardian</em>, which argues that couples are more likely to get married when they <a href="http://www.theguardian.com/commentisfree/2014/jun/24/myth-trophy-wife-inaccurate-demeaning">have something in common</a> than because they're seeking partners with great wealth. But it's not surprising that some wealthy people wonder if that future spouse wants to marry them because of their overflowing bank account and not their wit or charm.</p> <h2>5. You Might Need an Army of Advisers</h2> <p>Once you've become wealthy, you'll undoubtedly need help to manage all those dollars. After all, you can't just stash those big bucks in a savings account. You want your riches to continue to grow. To master that feat, you'll need the help of financial advisers and accountants. And if you've invested in a larger home or a luxury boat? You'll need staffers to clean and maintain these investments. That isn't free, and finding the right help can prove challenging.</p> <h2>6. You're Even More of a Target</h2> <p>Think of how many scams fill your email box every morning &mdash; and you're not wealthy at all. Now imagine the target you'll become for fraudsters and scammers once you become rich.</p> <p>Wealthy people have to be especially careful to avoid scams, both online and traditional ones such as fake charities seeking donations. Nothing entices scammers like rich people who aren't especially careful with their wealth.</p> <p><em>Are you burdened with too much money? Share some in comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dan-rafter">Dan Rafter</a> of <a href="http://www.wisebread.com/6-ways-more-money-does-truly-lead-to-more-problems">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-9"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/if-you-won-the-lottery-you-would">If You Won The Lottery, You Would...</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-most-money-savvy-rap-stars">The 5 Most Money-Savvy Rap Stars</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-a-yawn">Are You a Yawn?</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-bad-money-habits-youre-teaching-your-kids">4 Bad Money Habits You&#039;re Teaching Your Kids</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-ways-life-is-wonderful-when-youre-debt-free">6 Ways Life is Wonderful When You&#039;re Debt-Free</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Lifestyle gold diggers income taxes money problems rich people wealthy Thu, 17 Mar 2016 11:00:05 +0000 Dan Rafter 1668455 at http://www.wisebread.com