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Here’s Why Being Frugal Gets Easier Over Time
How could you say no to that face? Resisting the urge to splurge on your kids can be extremely tough when you first try to curb your spending. But being frugal gets easier and more second-nature the longer you do it. Photo: Harsha K R
Becoming frugal is a difficult change to make, especially if you’re trying to cut down on deep-rooted spending habits.
Five Money Moves No One Should Ever Make… Ever
Payday loans, with their obscene interest rates, can lead to perpetual indebtedness. Photo: Paul Sableman
Donald Trump is famous for much more than his popular television show and confusing hairstyle; he’s also famous for being very, very rich. Of course, he wasn’t always as rich as he is now, and his businesses have even filed for bankruptcy a handful of times.
Still, most people would say he knows a thing or two about both good and bad financial moves. And although he is currently best known for berating people with the famous tagline, “You’re fired,” he is also well known for several quotes about life and money, including this one:
“Sometimes the best investments are the ones you don’t make.”
Isn’t that the truth?
More Than One Kid? How to Save for College
Expecting lots of caps and gowns in your future? Here are tips on saving for more than one child’s education. Photo: Josh Granier
A reader named Autumn asks a good question:
“Hi, I need some advice… My sweet newborn was given a little over $1,000 from our family for his higher education. I thought about putting it into a 529 plan, but I don’t want this money to be only in his name since we plan to have more children, and we would like all the money to be in an account that any of our children can use. If child #1 gets a full ride or decides not to go to college, then we want the money to be used for child #2. I would like something that can earn some sort of interest as well. Any ideas?”
Four Tricks to Keep Your Food Spending at $50 a Week
Unless you have superhuman discipline, use only cash to help you stay within your budget. Photo: torbakhopper
My New Year’s resolution wasn’t very glamorous. I didn’t decide to learn French or perfect certain yoga poses or save the world one good deed at a time. Instead, my one and only resolution was to keep food spending at $50 a week.
In January, the first month I tried this, I was armed and ready. My husband and I managed to spend just under $60 a week, and we were extremely proud. Coming from people who could spend as much as $700 a month on food for just two adults, this was groundbreaking.
How One Social Media Mistake Can Wreck Your Financial Future
Once you click ‘send’ or post something online, you have lost control of your words, and making them disappear later is next to impossible.
More than 100 years before Facebook was conceived in Mark Zuckerberg’s dorm room, Mark Twain, one of America’s most beloved authors, offered some words of wisdom that make a lot of sense for social media users today:
“It is better to keep your mouth closed and let people think you are a fool than to open it and remove all doubt.”
We all have access to social media, even when we are upset about something. It seems natural to turn to social media when we want to rant about something, because that’s where all our friends are, and they’re the ones who understand us.
Don’t Forget to Deduct…
You can deduct moving expenses if you relocate more than 50 miles for your first job. Photo: Kai Schreiber
The tax-preparation chain H&R Block is running a commercial this year that invites Americans to “get their billions back.” But what exactly does it mean?
The overwhelming majority (84%) of Americans who e-filed a tax return last year received a refund, according to the IRS. The average amount of those refunds was $3,211, for a grand total of just over $100 billion. What’s more, a study estimates 20% of taxpayers left an average of $450 in the government’s hands through unused deductions — for a total of $3.345 billion in unclaimed refunds.
Developing an Internal Yardstick for Fulfillment
The single most powerful personal finance book I’ve ever read is Joe Dominguez and Vicki Robin’s Your Money or Your Life. The book powerfully explains the connection between personal happiness and fulfillment and one’s personal finances.
One section of the book that I found particularly powerful begins on page 112 of the most recent paperback version of the book. In that section, the authors discuss the idea of evaluating all of one’s purchases and expenditures through one single lens. Did I receive fulfillment, satisfaction, and value in proportion to life energy spent?
On page 113, the authors dig into answering this question.
Why You Don’t Need a Business Degree to Start a Business
Plenty of teenagers run successful businesses without so much as a high school degree. Photo: Sean Hobson
“I have never let my schooling interfere with my education.” – Mark Twain
Do you need a business degree to know how to run a business?
Most of the business lessons that have helped me become successful as an entrepreneur were not learned in college. They were learned by starting businesses that either worked or didn’t work, and constantly learning from my experiences. I learned many other lessons from business mentors, who were able to help me avoid some of the pitfalls they made.
Free Yourself From the Kids’ Birthday-Party Trap
Know what kids like even better than a pricey bakery cake? A homemade one with extra frosting. Photo: Alex
Sometimes the most outrageous birthday parties are for the kids who probably care the least.
One-year-olds, for example, won’t remember that you spent $700 on a standing birthday cake shaped like a My Little Pony, nor will they appreciate the fact that you hired a professional photographer for their “big day.” (Yes, that happened.)
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