Money Tips Network

The Mistake-Free Choice

I make mistakes. A lot of them.

I spent too much money. I said something I shouldn’t have said. I wasted a bunch of time doing something foolish and unnecessary. I made a statement without properly knowing the facts behind it.

Each time I make a mistake, I’m left with two things.

I’m left with memories of having some fun in that moment or of the relationship I had before I stuck my foot in my mouth.

I’m also left with a fracture in my life. I don’t have the resources – time, money, relationships, etc. – to do the things I would like to be able to do.

It is extremely rare when the memories are worth the damage that I’ve done. It is extremely rare when I feel as though the choice I made to waste a bunch of time or money or to say something without thinking about it adds up to enough of a positive memory to overcome what I lost by doing it.

Ask the Readers: How do you control your time?

We’ve been discussing the value of time a lot lately. For me, it’s been an appropriate topic. Lately, my work-life balance has been out of control. There are a few reasons for this:

  • I’ve been giving into time-sucks.

  • I’m struggling to organize a few new writing gigs into my schedule.

  • I don’t give myself any breathing room.

5 Great Money Lessons I Learned From My Immigrant Parents

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My parents immigrated to the US, separately, in 1980 and ’81. They met, married, and started a family while they were still trying to navigate the unfamiliar waters of a brand new country.

Their immigrant experience is an integral part of who they are — and because they raised me, it’s a big part of who I am, too. I’ve learned many valuable lessons from them, including a few that involve spending and saving.

Forget the Joneses. Spend on what’s meaningful to you.

5 Top Travel Destinations for 2014

Winter is gone, and spring has fallen. Hopefully, the area where you live (and are reading this) has started to show some sunshine. And, with all this great new weather, the thought enters the mind, "there may be other places with even prettier weather." And you'd be correct! So, future traveler, read on to learn more about some of the best destinations of 2014! (See also: Vacation Destinations That Stretch Your Dollar)

Colombia

I'm a little biased towards Colombia, since I spent all of January in Medellin studying Spanish. There are several preconceived notions about Colombia, many of them negative due to the drug violence that disrupted the nation for much of the 1980s and 1990s.

How Bad Americans Have It

Money magazine released the following stats in their April issue. This set is for households making below $100,000 a year:

  • 55% are living paycheck to paycheck
  • 66% couldn't handle an unexpected $10,000 expense
  • 47% couldn't live comfortably even three months if breadwinner lost his job
  • 47% would find it tough to get new job if laid off

Now here are the percentages for households making more than $100,000 a year:

  • 37% are living paycheck to paycheck
  • 38% couldn't handle an unexpected $10,000 expense
  • 32% couldn't live comfortably even three months if breadwinner lost his job
  • 37% would find it tough to get new job if laid off

And my results:

9 Amazing DIY Lamps You Want in Your House

A good lamp does more than just shed light. With the right size, shape, color, and texture a lamp can compliment your furnishings and demonstrate your sense of style. To paraphrase the immortal words of The Dude, it really ties the room together. But new lamps can be expensive, and thrift store lamps, while affordable, can be hit or miss. Why not take matters into your own hands? We've rounded up nine amazing DIY lamps that can be made with simple materials, and customized to complement (or contrast!) your existing decor. (See also: 30 Awesome Decorating Hacks)

Best Money Tips: Fifteen Ways to Make Money to Fill Your Fridge

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some fantastic articles on ways to make money to fill your fridge, bills you can cut from your budget, and things to bring to a job interview.

Top 5 Articles

Fifteen ways to make money to fill your fridge: make £300/$500 per month — Mending computers or dog sitting can help you make enough money to fill your fridge. [The Money Principle]

25 Cheap and Easy Fixes That Make Your House Look Amazing

I'm currently in the process of selling my house, and it's been quite an ordeal getting it up to snuff for listing. Over the six years my family has lived here, we've surely settled in. Things like dirty baseboards, slow draining tubs, and a rogue dead outlet didn't seem so horrible; we got used to all these little inconveniences because our minds were elsewhere. When it came time to fix everything, however, we were quite overwhelmed with our to-do list. (See also: Cheap Ways to Stage Your Home)

You're Blocking Your Own Success — Here's How to Stop

Much has been written about the concept of success… oodles, in fact, all claiming to deliver the proverbial key that will help you get from here to there.

Proper planning is apparently crucial for example, as is unyielding determination. Setting goals that are measurable is also said to be important, as it allows you to monitor your progress and celebrate your milestones. (See also: Build on Your Strengths to Succeed)

10 Wines That Taste Pricier Than They Are

Value, when it comes to wine, is in the palate of the beholder. But it also depends on the wallet of the beholder, as well. Frankly, what is considered to be a great deal on a wine for dinner is worlds apart depending on whether you have that conversation with Bill Gates or Warren Buffett or with little ol' me. (See also: 10 Cheap and Tasty Wines)

5 Vehicles With the Longest Lifespans

This post comes from Anna Williams at our partner site LearnVest.com.

There are dozens of factors to consider when it comes to buying a new car—everything from safety features to the length of the loan.

But if durability is high on your lists of musts, a new study might help steer you in the right direction.

Automobile website ISeeCars.com sifted through 30 million used car listings over nearly 30 years to pinpoint which models were most likely to have at least 200,000 miles clocked in—and still be on the road.

Can “Churning” Credit Cards Really Work?

There are a lot of credit card offers out there that reward you for signing up by giving you a bunch of frequent flyer miles, hotel discounts, or big gift certificates. If you weren’t particularly worried about your credit in the short term, wouldn’t it make sense to sign up for a bunch of these, fulfill the terms of the programs, cash in the rewards, then cancel the cards?

It’s certainly conceivable. In fact, it’s a practice that a lot of people use, and they call it “churning.” Here’s an article from Daily Finance outlining the basics.

Reader Mailbag: Helicoptering

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question.
1. New company 401(k) question
2. Freezing in plastic
3. Eating cheap on road trip
4. Leasing an electric vehicle
5. Too much money into retirement?
6. Midlife crisis?
7. Pay mortgage or start investing?
8. Nonstick pans
9. Hunting for food

My year-long quest to create a guide to mastering money

Note: This article is from J.D. Roth, who founded Get Rich Slowly in 2006. J.D.’s non-financial writing can be found at More Than Money, where he recently wrote about how to be happy.

9 Cool Things You Didn't Know Skype Can Do

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Skype is famous for free instant messaging and online voice calls, and I love using Skype to keep in touch with my friends and family. But Skype offers so much more than messages and online calls. Here are 9 cool ways Skype can make your life easier.

1. Send and Receive Files

Skype is helpful for sending and receiving files quickly. I use Skype to send photos, spreadsheets, screenshots, PDFs, and other files to my coworkers on a daily basis.

Do This One Thing a Day to Defeat Clutter Forever

The problem with most advice on clearing clutter is that it runs on the assumption that people actually have enough storage space in their homes. I am 100% sure that anyone who saves closet space by rotating their winter clothes out of their closet to make room for their summer wardrobe isn't storing their Christmas sweaters under their house in the crawlspace. (See also: How to Declutter and Keep Your Stuff)

4 Secrets to Getting the Lowest Rate From Travel Websites

Personalization is the next big thing in tech. Google customizes your search results when you're logged in to your Google account. And if you often see the same ads on multiple websites, it's because the ad network's algorithms suggest that you'd be interested in those products. (See also: 10 Surprising Marketing Tricks)

All this personalization is supposed to provide you with a better browsing experience. But in reality, its main purpose is to sell you the most relevant products and improve the bottom line for e-businesses.

Best Money Tips: Ways to Live a Life With No Regrets

Welcome to Wise Bread's Best Money Tips Roundup! Today we found some awesome articles on living a life with no regrets, cutting your own hair, and tasks you shouldn't put on the backburner.

Top 5 Articles

11 Ways to Live a Life With No Regrets — If you want to live your life with no regrets, be afraid of being afraid. [Lifehack]

How to Cut Your Own Hair - An Updated Guide! — When cutting your own hair, stay calm and think ahead. [And Then We Saved]

The Pasta Sauce Conundrum

Two or three times a month, my family enjoys an evening meal that features pasta of some kind. We might enjoy spaghetti or lasagna or something else, depending on the mood.

However, when I go to the store to buy pasta sauce, I absolutely cringe at the prices. The “cheap” sauces are loaded with high fructose corn syrup and taste overly sweet. Some of the other sauces taste great, but you’re paying $7 (or more) for a single jar of the sauce.

Sure, such sauce is convenient, but it really adds up quick. If you buy the cheap stuff at $2 per jar, you’re adding a ton of corn syrup to your diet – even more than soda in some of the sauces.

Want to Fail? Ignore Survivorship Bias.

Whether you’re making a decision that has apparent, immediate consequences that could affect the rest of your life, like deciding to quit your job and open a business, or making a purchasing decision big or small, it is worthwhile to gather information and think about the future. When you gather information, you have to be careful, because people, businesses, and even statistics that provide that information might contain inherent biases.

Survivorship bias is often hidden in plain sight, but recognizing the bias when it exists could be the difference between building wealth over the long term and going broke. If a logical argument neglects to recognize that failure is a possible outcome, the argument may be subject to survivorship bias. If a statistic reflects the outcome of only the successful set, ignoring the set of those who fail, survivorship bias is at play, and can give someone a false understanding of the data.