When we take a close, hard and honest look at the things that we consider to be needs and wants, the choices and decisions may not, and in some cases, will not be easy. The things we thought were needs and are realized as wants, now have to be put off until we get ourselves […]
First, it is important to understand that needs and wants aren’t the same. As we read that sentence, we say to ourselves…everyone knows that! Again, while we might know this intellectually, there is a good chance that we’re not completely sincere with ourselves with regards to the things we buy. When it comes to our […]
Part of our journey to financial well-being is the principal of spending less than we earn. And although there is no single road to financial well-being, that one principal is what sets us up to not only begin creating our wealth, but to also keep what wealth we attain. That principal holds true whether we […]
Whichever strategy…or strategies we decide to utilize, will depend on our comfort level of risk and effort (how hands on we care to be). The important thing in all of this is getting all the information and/or help we need to educate ourselves enough to make the best decision based on our own individual desires. […]
Investing can be as simple or as complicated as we want it to be, the point is that our money needs to be utilized in a way that will allow it to grow and produce yields faster than inflation. Inflation is the reduced value of the dollar over time, so as the cost of living […]
We set up our budget, we find ways and areas to reduce our expenses, we get our spending under control, we live below our means, we find ways to increase our income, we get our debt snowball rolling, we learn to pay ourselves first to save for our emergency fund and of course…save to invest! […]
The challenge as a young adult is seeing and understanding the value of time and compounding when it comes to our financial future. When we’re young, we have our whole life ahead of us to not have to worry about it now or we feel like we don’t have the extra money to save! Often […]
One of the main reasons why we, as 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 we earn returns on past investment returns as well as on our own original capital investment. […]
It’s never too soon to start saving for retirement! Unfortunately, it’s all too common that retirement savings are not made a priority by most young adults. The hesitation to start saving at a comparatively early age for retirement is understandable, given that as young adults we see so many working years ahead of us with […]
Once we realize we’re in a debt spiral, we need to figure out how and where we’re spending our money and what adjustments can be made to stop the madness. This is where we need to be creative and/or make some tough choices (or sacrifices). Bring coffee from home or use the coffee maker at […]