How To Truly Change Your Financial Life
Financially speaking, what are you trying to change? Are you trying to get out of debt? Earn more? Save more? Part of the process will probably involve gaining some new knowledge. And part of it will involve changing behavior. But getting to a better financial place isn’t just about knowledge and behavior. It’s also very […]
Profitable Ideas: Whether Frugality Takes Too Much Time, Winning the War on Clutter, and More
A weekly roundup of helpful personal finance articles. How much time do frugal strategies take? Five time-tested techniques (The Simple Dollar). You may be surprised at how little time it takes to save a lot. For applicants to elite colleges, early is often the ticket to admission (MarketWatch). It’s a big decision, but taking too long to […]
Spending Money With Peace of Mind
Living generously, being able to save or invest a portion of all income, and enjoying financial breathing space, requires smart spending. Here are some of the most important ways to get the most for your money in the major spending categories. As you read these ideas, keep in mind that they aren’t about obsessive frugality; […]
Profitable Ideas: Jump While You Can, An Essential Lesson for Investors, and More
A weekly roundup of helpful personal finance articles. Jump while you can (Becoming Minimalist). On the importance of living fully and not taking the future for granted. A good reminder. This is precisely why timing the market isn’t worth your while (Motley Fool). It’s important to learn this investing lesson as early as possible. You’ll avoid wasting […]
How I Found Financial Freedom
“God paid a high price for you, so don’t be enslaved by the world.” – 1 Corinthians 7:23 I’ll never forget the day my parents invited me home for a little chat. They had started to sense that all was not well, and they were right. I was in financial trouble—deep trouble. My credit card […]
Profitable Ideas: Counting the Opportunity Cost, When Frugality Doesn’t Fly, and More
A weekly roundup of some of the best personal finance articles. The unasked question (Humble Dollar). Learning to think through the filter of “opportunity cost” is a powerful way to make better financial decisions. Your smartphone is giving away more personal info that you realize. Here’s how to lock it down. (USA TODAY). Given the recent news […]
Don’t Believe the Critics — A 401(k) Plan Can Help You Build Wealth
Criticizing 401(k) plans has become a cottage industry. With great regularity, financial writers still complain about the loss of traditional pensions and say it’s asking far too much to expect people to be able to figure out how much to contribute and what investments to choose. The most recent example is an LA Times article […]
Profitable Ideas: The Best DIY Tax Software, A Common Insurance Mistake, and More
A weekly roundup of helpful personal finance articles. How to choose the right do-it-yourself tax software (Consumer Reports). Whether you’re still finishing your 2017 return or getting set up for the next tax season, here’s an unbiased look at the leading DIY tax prep packages. The tipping point (Humble Dollar). Compounding may not seem like a big […]
The Absolute Best Way to Teach Kids About Money
Personal finance may be the most important topic typically not taught in school. And where it is being taught, there are mixed results. The main problem seems to be a lack of practicality—lectures and simulations will only get you so far. As I thought about those findings from several studies, I was reminded of something […]
Profitable Ideas: IRS Red Flags, One Money Mistake You’ll Never Regret, and More
A weekly roundup of helpful personal finance articles. Beware, the IRS is looking for these red flags this tax season (MarketWatch). Ah, the irony — being especially generous is a red flag. 7 products with unbelievable warranties (Three Thrifty Guys). This is an important—and often overlooked—aspect of spending money well. Amazon wants to own your checking account […]