As you take a close, hard and honest look at the things that you consider to be needs and wants, the choices and decisions may not, and in some cases, will not be easy. Those tough decisions will take having the right attitude, discipline and self control. It’s going to take an adjustment of how […]
An important distinction to understand is that needs and wants aren’t the same. As you read that sentence, you’re probably saying to yourself…everyone knows that, right!? And while you might know this intellectually, there is a good chance that you’re not being completely honest with yourself regarding the things that you buy, because you have […]
A fundamentally crucial part of the journey to financial well being is the principal of spending less than you earn. And although there is no single road to financial well being, that one principal is what sets you up to not only begin creating your wealth, but to also keep what wealth you attain along […]
There are so many different investment strategies out there that choosing the right one really comes down to deciding which type would fit you best. Whichever strategy……or strategies you decide to utilize, will depend on your comfort level of risk and effort (how hands on you care to be). The differences vary from high risk […]
Investing money is something many people shy away from for various reasons, one being that it can be overwhelming. Investing can be as simple or as complicated as you want it to be, the point is that your money needs to be utilized in a way that will allow it to grow and produce yields […]
When you set up your budget, you find ways and areas to reduce your expenses. You get your spending under control, you live below your means, you find ways to increase your income, you get your debt snowball rolling, you learn to pay yourself first to save for your emergency fund and of course…..you also […]
Seeing and understanding the value of time and compounding when it comes to your financial future is challenging as a young adult. When you’re young, you have your whole life ahead of you to not have to worry about it now. Or you feel like you don’t have the extra money to save, so you […]
Being responsible with your money at a young age has its advantages. One of the main reasons why young adults should start saving and investing as early as possible would be to reap the rewards of what would be sometimes known as the magic of compounding. Compounding is when you earn returns on past investment […]
It’s never too soon to start saving for retirement! As a matter of fact the earlier you start, the better off you’ll be when you reach those Golden Years. Or better yet, maybe even retire early! Unfortunately, it’s all too common that retirement savings are not made a priority by most young adults. It’s understandable […]
Once you realize you’re in a debt spiral, you need to figure out how and where you’re spending your money and what adjustments can be made to stop the madness. This is where you need to be creative and/or make some tough choices (or sacrifices), whether you like it or not. For example, bring coffee […]