Getting Started With a Budget
Using a budget is one of the smartest money management moves you could make. For guidance on using a paper & pencil system, read the Budget Quick Start Guide and make use of the Cash Flow Plan, Cash Flow Tracker, and Recommended Spending Guidelines, all found in the Resources section. For help using the online tool Mint.com, watch my tutorials here, here, and here. And for help with the Envelope system, read this article.
Remember, “The plans of the diligent lead to profit as surely as haste leads to poverty.” – Proverbs 21:5
Do you know your net worth? That’s how much is left after subtracting your debts from the total value of your cash and assets. At first glance, figuring out your net worth may seem pointless. You’re probably not going to bump Warren Buffett or Bill Gates from their spots on any “World’s Wealthiest People” list […]
More than any other document, a will puts you in touch with your mortality. That probably explains why, according to a survey by Lawyers.com, 65 percent of adults in the U.S. don’t have a will. However, if you care about what happens to your property after you die – and more importantly, if you care […]
In 2016, a study published in Mayo Clinic Proceedings quantified how many Americans have a healthy lifestyle. Can you guess what number it came up with? Less than three percent! In order to qualify, a person had to meet four criteria: Moderate to vigorous exercise for at least 150 minutes per week, a diet score […]
Have you ever felt like a stranger living in a strange land? Like somehow you’ve woken up in a place where you don’t speak the language? I felt that way while watching a morning news segment about financial infidelity. The host mentioned the results of a national survey in which: 71% of married Americans acknowledged […]
Weekly roundup of recommended personal finance articles from around the web. Are you rich? How the wealthy are defined (US News). How would you answer that question? Retailers use psychology to influence your buying decisions, here’s how (World Economic Forum). What percentage of your typical grocery run do you think consists of impulse buys? 5 […]
I’ve reviewed lots of people’s budgets (or, as I prefer, “cash flow plans”) over the years. No two are exactly the same because people have different incomes, fixed expenses, priorities, and more. That’s to be expected. When it comes to budgeting, there’s no such thing as one-size-fits-all. However, there are certain overarching approaches to budgeting […]
Throughout their marriage, John and Jessica had maintained separate credit cards and apparently didn’t talk about how they were each using their cards. After 12 years of marriage, Jessica was shocked to discover that John had racked up $68,000 of credit card debt. Instead of asking for forgiveness, John asked Jessica to co-sign for a […]
Waiting can be tough. We seem to be hardwired to resist it. And our culture does us no favors here. Whatever we’re interested in buying, there are ways — and we’re strongly encouraged — to have it now. Paying for it? That can wait until later. But there are great rewards for those who learn […]
I know, Christmas is over. However, by the time most Christmas prep articles come out, it’s too late to prepare adequately. What I’ve discovered in my own life is that the most helpful steps toward a financially sane Christmas next year begin right after this year’s Christmas celebration is over. 1 – Create your own […]
Weekly roundup of worth-your-time personal finance articles from around the web. A one-page financial plan? Yup, that really is enough (The Evidence-Based Investor). If you don’t have a financial plan, this article (and the book it’s based on) will help you get started quickly and easily. Six rules for avoiding market panic attacks (A Teachable […]
