Money Tips Network
The Folly of Wanting More When You’re Not Using What You Already Have
You buy a book, but there are already a bunch of unread books on your shelf.
You buy a computer game, but there are already a bunch of unplayed and barely-played games in your Steam library.
You buy a new cosmetic product, but there are already a bunch of unused and barely-used cosmetic products in your bathroom drawers and closet.
You buy a new Bluray, but there are already a bunch of unwatched Blurays on your media shelf.
You buy a new cell phone, but the cell phone you have works perfectly fine and does everything you want it to do.
You buy a new video game, but there are already a bunch of unplayed or barely played games in your entertainment center.
You buy a new item for your preferred hobby, whatever it might be, but you already have a bunch of items just like it that you’ve barely used.
Money Free Days
One of our family’s favorite ways to spend money is to have money free weekends. We simply aim to go through an entire weekend without spending money, relying solely on the food already in our cupboard and refrigerator for our food needs and the things we already have on hand for our entertainment needs.
Over the last several months, I’ve come to realize that “money free days” are actually a really big part of our financial strategy. There are simply a lot of days where I don’t spend a dime, neither does Sarah, nor do any of our children.
We don’t go out to eat. We don’t stop for a quick treat. We don’t buy anything online. We don’t spend money on entertainment. We don’t buy food. We don’t buy anything. No money leaves our home.
6 Guilty Pleasures That Are Killing Your Budget
When it comes to guilty pleasures, we all have a few. Some vices are fine to indulge in every once in a while — like that weekly caramel latte. However, splurging too much on these vices can rob our budget, and in some cases, our health.
10 Ways to Spot a Motivated Seller
I love a bargain, especially when it comes to the biggest purchase most of us ever make: a house. But bargains are hard to come by in this seller's market, with low inventory driving competition for houses.
5 Phone Plans That Offer Cheaper Roaming Charges While Traveling
For years, traveling internationally with a cellphone has lead to exorbitant roaming costs and astronomical charges racked up accidentally along the way.
5 Money Goals You Can Achieve This Summer
With summer right around the corner, you might be thinking about travel plans, backyard barbecues, and spending time with friends and family.
Best Deals for Friday 04/27
Link for teaser title:
http://www.wisebread.com/bestdeals/today
Viva Naturals MCT Oil Powder (16 oz), 58% OFF, and more...
Buying a Home: Highlights from Our Chat with Money Smart Week
Money Smart Week joined us for our #WBChat on April 26th to share their insights on how buying a home. Our #MSW2018 #WBChat featured awesome tips to help people tackle the home buying process.
The perfect is the enemy of the good
I’m home! Over the past two weeks, I drove 1625 miles across across seven southeastern states. I had a blast hanging out with readers, friends, and colleagues. Plus, it was fun to explore some parts of the country that Kim and I skipped during our RV trip a few years ago. Most fun of all, though, was talking to dozens of different people about money.
After two weeks of money talk, I have a lot to think about. I was struck, for instance, by how many people are paralyzed by the need to make perfect decisions. They’re afraid of making mistakes with their money, so instead of moving forward, they freeze — like a deer in headlights.
It might seem strange to claim that the pursuit of perfection prevents people from achieving their financial aims, but it’s true. Long-time readers know that this is a key part of my financial philosophy: The perfect is the enemy of the good.
When ‘Going Cheap’ Is a Bad Idea
I usually go “cheap” when I’m spending money on things for myself or for my family. I aim for very low cost and healthy foods – I aim for spending less than $100 a week on food and household items for my family of five while still having healthy meals for all. I buy store brand versions of a lot of things. I rarely splurge on expensive items. I only buy clothes when they’re on sale, usually when clothing stock is getting rotated out at the end of the season.
Having said that, over the years, I have found that there are some things that I don’t skimp on.
“What stuff don’t you skimp on?” you might ask. “When is it a bad idea to go cheap?”
Don’t worry, I’ll get there and provide a list of items that I don’t skimp on for you, but first, I want to offer up my general rule on things you shouldn’t skimp on:
When Does It Make Sense to File for Bankruptcy?
Bankruptcy should be avoided whenever possible, but there are times when people who are overwhelmed with debt have no viable alternative but to seek bankruptcy relief.
Bankruptcy laws are designed to ease the financial pressure on people who can’t pay their bills. While filing for bankruptcy can erase unsecured debts, prevent foreclosures, and stop debt collection activity, it has some drawbacks, said debt resolution attorney Leslie Tayne. Going through bankruptcy can affect your credit report for up to 10 years, making it difficult to qualify for a mortgage, a car loan, or other lines of credit, Tayne said.
18 Free Ways to Be a Better Person
With a crazy schedule and tight budget, giving back is usually easier said than done. However, what if making a difference someone else's life didn't have to be that complicated, time-consuming, or costly? These 18 acts will help you become a better person, and help your community.
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Best Money Tips: Must-Have Tools for the DIY Life
Welcome to Wise Bread's Best Money Tips Roundup!
4 Ways to Find Income While Waiting for Full Retirement Age
Every single retirement expert seems to agree on one thing: You should wait until at least your full retirement age (FRA) before taking your Social Security retirement benefits.
4 Affordable Destinations That Are Safer Than You Think
There are countless corners of the world that are completely misunderstood and labeled as "unsafe," when the reality is far from that simple.
8 Questions to Ask Before Hiring a Credit Counselor
If you're struggling with debt and don't see a light at the end of the tunnel, working with a credit counselor may be your best move. Credit counselors are trained to help you manage your debt and understand credit, cash flow, and budgeting.
9 Smart Moves to Make After Getting a Raise or Promotion
You've worked hard, and you've impressed the boss: You've been rewarded with a raise, promotion, or both. That's great news.
The worst mistake you could make right now is to use this time as an excuse to slack off at work or spend more money.
Join Our Tweetchat on Thursday 4/26, at 3pm EST/12pm PST for a Chance to Win $200 in Prizes!
Join our Tweetchat Thursday, 4/26 at 12:00 p.m. Pacific/ 3p.m. Eastern for lively conversation and a chance to win a $100 Amazon gift card or one of two $50 Amazon gift cards! Use #WBChat and #MSW2018 to participate.
This week's topic: Home Buying!
Best Deals for Thursday 04/26
Link for teaser title:
http://www.wisebread.com/bestdeals/today
Levoit Cora Himalayan Salt Lamp, 56% OFF, and more...
‘Financial Success Only Works for Other People’
One of the most interesting things that occurs with The Simple Dollar is the sharing that goes on with the site and with the email newsletter (some readers receive the articles from the site in email form). People share articles to others on social media or by forwarding an email, and sometimes those people will share it, and so on, and eventually an article makes it into the hands of someone who feels the need to tell me how wrong I am about the relatively simple math of frugality and financial success.
Usually, the response I’ll get (via email or social media) boils down to one core idea: “Sure, what you talk about might work for someone who is rich, but it doesn’t work for most Americans.” I hear that again and again and again and again.
So, let’s start with some reality from my own financial journey.
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