It may seem like there is a lot to personal finance. And in one sense there is. There are thousands of different approaches to personal finance. And this can get overwhelming. It may seem so overwhelming that you feel paralyzed at square one. But it doesn't have to be. There are a handful of things that are critical in personal finance. All the rest is splitting hairs. So go through each of these items one at a time and make an improvement in each area. . . .
Happy New Year! And now it's tax time. I know, I know, April 15 is still a long way away. But, by the end of this month, your W-2s will be rolling in, followed closely by a multitude of other tax related documents. And since you'll likely get a refund when you file, there's no reason to let Uncle Sam sit on your money any longer than necessary. So despite the April 15 deadline still being several . . .
Part of personal finance being personal means that we focus on our own journey, and let others focus on theirs. We are responsible for our own finances and our own outcomes. Too often, however, we tend to look over at our friends and neighbors to compare notes. We either like to pick apart what they are doing wrong to make ourselves feel better, or start drooling in envy at the latest new toy they . . .
There was once a hardworking man who worked 9-5 day in, day out, for 45 years. He rarely took vacation because he wanted to 'shine' as an employee. He stayed at the same job his entire life because it was 'safe'. He put 10% of his paycheck into retirement savings because it was the 'smart' thing to do. He budgeted for a car payment, a house, and lived within his means. At 65 he retired with a . . .
We are all creatures of habits. Good habits are critical to success. Master these 9 habits and you'll be well on your way towards financial success. 1- Track Your Spending From apps to check registries, there are many ways to track your spending. It doesn't really matter how you do it, as long as you make it a habit. Not only will tracking spending help you spot erroneous charges and fraud, . . .
It's the time of the year that everyone starts talking about New Year's resolutions. Common resolutions are to lose weight, eat healthier or start doing something nice. Although less common, financial goals or resolutions are also important. Developing financial goals is a big part of figuring out your 'why' of personal finance. Goals also serve as actionable steps towards your . . .
There are all sorts of ways to make a couple bucks here and there on the internet. Most of them are tedious and time-consuming for relatively small payouts. A few programs, however, will pay you regularly just for the privilege of monitoring your device activity. Once you install an app on your phone and an extension on you computer browsers, the rewards start rolling in. Who Would . . .
I hated physics class in high school. For some reason tho, I remember the concept of inertia. Basically if an object is at rest, its tendency is to continue to be at rest. If the object is in motion, it will continue in the same direction unless redirected by something else. It's a concept we observe all the time in our surroundings. We also find inertia in personal finance. The Flow of . . .
If you are in debt, you might be happy where you're at. However, there's a good chance that you've come to despise your debt and have resolved to live debt free. In this case, there are a number of strategies to pay off your debt. You could just make minimum payments on all your debt. This would be the least painful in the short-term, but of course would mean staying in debt for longer. To pay off . . .
You need a budget. Period. A budget ensures that your money goes to things that are important to you. A budget also ensures that you maintain a positive cash flow- meaning you don't spend more than you earn. Budgeting basically divides your money between needs, wants and goals. Or I should say needs, goals and wants, since that should be the priority order. If you don't use a budget, even . . .
Thank you for supporting Pennies and Dollars by reading this guest post. As Christmas comes knocking, most people worry about the spending that this time of year demands. You want, perhaps even need, gifts for friends and colleagues, not to mention relatives. For an individual with a family, Christmas expenses become even more of a nightmare. There could be children who have been waiting for . . .