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
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 […]
Weekly roundup of interesting and helpful personal finance articles from around the web. Why rich people avoid consumerism (Darius Foroux). “Most people don’t own income-producing or liquid assets. Most people own products and debt.” Assured misery (Collaborative Fund). What to avoid if you want to be happier—in your use of money, and otherwise. The long […]
If you’re really paying attention, life can be a very odd experience. Especially when it comes to money. For example, in troubled economic times, front-page newspaper stories regularly quote economists expressing concern that the personal savings rate is going up. I still vividly remember reading one such story during a recession. I had to blink […]
There’s a new report out that says a growing but still small number of Americans are financially healthy. Working with researchers at the University of Southern California, the Center for Financial Services Innovation (CFSI) administers an annual eight-question survey among a representative sample of U.S. adults, leading to what it calls the U.S. Financial Health […]
Those of us who write about money for a living can get a little carried away by some of the nitty-gritty details. That seemed to be the case in a surprisingly impassioned debate that sprang up recently over what a person’s higher priority should be—controlling spending or controlling saving. At first, it seemed kind of […]
