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One in four Americans has more credit card debt than emergency savings. Photo: Alex

Let’s talk about our saving skills for a minute, America. Because it seems that while we’re improving, we have yet to master the skill of setting aside appropriate amounts of money for a rainy day.

Instead, we’re consumed with instant gratification and keeping up with the Joneses. We want the latest iPad, spring vacations every year, and the coolest, newest SUV on the market. We want to live like the rich and famous, even if we aren’t rich or famous.

 Photo: Dan Harrelson

After years of decline, a new look at government data shows that the number of stay-at-home moms is finally on the rise. This news comes courtesy of Pew Research Center analysis from 2014. According to the research, the percentage of mothers who don’t work outside the home surged to 29% in 2012, up from only 23% in 1999.

It appears a convergence of factors has contributed to this trend. As Pew reveals, the ups and downs of the economy have surely played a role, as have issues surrounding poverty, immigration, and even affluence.

One of the biggest themes that I write about here on The Simple Dollar is the concept of financial independence. I define financial independence as being the state in which you can live off of your passive income, usually in the form of investments that pay out over time such as dividend-generating stocks.

As with most things in life, financial independence isn’t a cut-and-dried line. There’s a lot of grey in that idea.

For example, as your savings grow, you become less and less dependent on your job. The possibility of taking a lower-paying job that’s more fulfilling and/or less stressful grows and grows. You’re less likely to have debt weighing you down and it’s likely that your monthly cash flow – your income minus your expenses – is nice and big. That’s not financial independence, but it does have some degree of financial independence in there.

Got a great idea for a business? Here’s how to take action on it. Photo: Yudis Asnar

What was the last great business idea you had? Do you remember it? What did you do with it? Did you write it down?

If you’re like most people, you had a great idea, never wrote it down, told a couple of co-workers or your spouse, and let the idea fade away without taking any meaningful action to pursue it.  Or maybe you were worried about other people stealing your idea, so you kept it to yourself thinking you’ll pursue it later.  But for most of us, that someday never comes.

Maybe you even went as far as laying out your idea into a business plan.