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. . . .
Black Friday ads are already coming out! Nerdwallet has compiled a good list if you're interested. Having said that, Black Friday is still 4 weeks away. Retailers are going to be building up hype for the biggest shopping day for the next 4 weeks, bombarding you with ads on TV, radio, newspaper, social media, etc. Don't fall for the hype! If you're not careful, Black Friday will yet again . . .
Signing up for a 401(k) through your employer is one of the easiest ways for you to successfully save for retirement. Your employer takes care of most of the paperwork and your contributions to the plan are taken right out of your paycheck. However, when you first set up your 401(k), you may be overwhelmed by all the options. How Much to Contribute When you set up your 401(k), you get to . . .
Back in the day before smart phones (when dinosaurs still roamed the earth), I signed up for my first cell phone. I was pretty sure I needed 1000 minutes a month. And of course, I needed to add on the free nights and weekends. And a bunch of extras that I don't even remember. Anyway, the plan I walked out with was going to run me $75 a month! For a single phone line! Granted, cell phone plans may . . .
Thank you for supporting Pennies and Dollars by taking time to read this sponsored post. Although each person's finances are unique, most share a common feature: Debt. Despite the negative connotations the word sometimes conjures-up, debt is a natural part of even the healthiest family finances. It is not until the cost of credit obligations becomes oppressive or balances become unmanageable . . .
P2P (Person to Person) loans are quickly becoming the popular new kid on the investing block. P2P lending sites such as Lending Club and Prosper allow you to loan your money directly to other people. The theory is that by cutting out the banks, both the investor and the borrower win, with lower rates for the borrower and higher rates for the lender. Lately P2P loans have gained attention with . . .
When I first dipped my toes into investing, I decided to invest in individual stocks. I don't think I necessarily thought I could outperform index funds or other mutual funds. I just wasn't fully aware they were even there. Sure, I had heard the phrase 'mutual fund' mentioned, but it sounded like it was for people with a lot more money than me. I just figured that individual stocks were the way to . . .
In past posts, I've suggested self-insuring to save money. Insurance companies have figured out the odds of you filing a claim and have set the premiums accordingly. They probably won't make money on you every year, and likely will lose money on you some years. Over time, however, they will collect more in premiums than payouts. The less insurance you carry, the more you will save. Learning how to . . .
There's a recent blog post by Abandoned Cubicle detailing how he's lost a million dollars over the last 20 years in unnecessary spending. It's a very insightful article, and I strongly encourage reading it. He highlights how much little money drains can cost you over the course of many years. He also highlights our collective unnecessary spending as consumers. His conclusion is that had he not . . .
Spending within our means, or more specifically, keeping our expenses below our earnings is what makes personal finance work. Accomplishing this requires self-discipline and budgeting, but becomes much easier when you learn contentment. What Is Contentment? Contentment is learning to be happy in whatever situation you find yourself. Contentment is a mindset change. It involves . . .
You are likely paying for several kinds of insurance- car, life, house, renters, health etc. Insurance makes us feel secure and protected from life's 'eventualities'. We hope that when the crap hits the fan, insurance keeps it from hitting us too. Unfortunately insurance also costs us quite a bit too. If you add up all the premiums you're paying, insurance is probably one of the largest items on . . .