A lot of people have a hard time understanding the phrase “pay yourself first”, let alone applying the concept. I’ll admit, even I struggled with it when I first heard it. Let’s face it, after paying the rent/mortgage, utilities, car payment, insurance, credit cards, etc., more often than not, there is never anything left over […]
“Like farmers we need to learn that we cannot sow and reap the same day.”– Anonymous It’s so easy to fall into the trap of seeing the success of other people and wondering why you’re not there yet. Much of that comes down to patience. Patience is a virtue. Who hasn’t heard those words before? […]
“Most people work just hard enough not to get fired and get paid just enough money not to quit.” – George Carlin In today’s society, the vast majority of people have been sold the idea that you need to go to school, attend college, and get a good job. And that’s great! Except it doesn’t […]
“Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.” – Suze Orman Having some extra money set aside for those unexpected expenses is the only way to get out of debt, stay out of debt and above […]
“A cardinal rule in budgeting and saving is to pay yourself first. Once your paycheck hits your account, wisdom has it that you should move some amount to savings even before you pay the bills.” – John Rampton A simple financial principle that many people don’t incorporate into their budget is to consider that saving […]
We often live our lives like there’s never enough time to accomplish the things we need to get done and for many aspects of our lives that may seem to be true. We feel like we can’t get enough of it and we could always use having more. It’s this dynamic which we encounter on […]
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 […]
If you’ve ever heard the term pay yourself first, your emergency fund is where you should start. Emergency funds should be readily accessible, but not so readily accessible that you will be tempted to make withdrawals for every day spending. Online banks could be a good place to stash away that money for those rainy […]