While every couple is different, advisers say there are some basics to keep in mind. Ms. Schultz recommends that households with a freelance/full-time couple avoid the tendency to use the salaried person’s income as the sole basis for important expenses (housing, utilities) and the freelancer’s income for discretionary spending only Read more…
Keep in mind these criteria are not hard and fast. These are just guidelines. Diversification is important when building a dividend growth portfolio. You should be looking not only at sector diversification (Tech vs. Telecom vs. Healthcare vs. Industrials), but also growth diversification (Low vs. High Growth). You want to have Read more…
When basics like rent, groceries, and transportation take up most of your income, you can’t fathom extras that are important for your mental, emotional, and physical health. Think about what you personally need to be happy now and find low cost versions. Spend your energy focusing on what you can Read more…
“If your truck payment is bigger than your house payment – you might be a redneck” via Our Car Payment was Bigger than our House Payment – Money Peach.
Secret #1: I am not defined by what I own (or wear, eat, live in or drive). Money is often spent, unnecessarily, on building an image. Whether it is clothing, cars, gadgets or even food, maintaining an image can be extremely expensive. Looking closely at how we spend money on Read more…
In cognitive science, choice-supportive bias is the tendency to retroactively ascribe positive attributes to an option one has selected. It is a cognitive bias. For example, if a person buys a computer from Apple instead of a computer (PC) running Windows, they are likely to ignore or downplay the faults Read more…
There’s no such thing as “smart money.” Everyone likes to poke fun at mom and pop investors, but the professionals are just as likely to succomb to performance chasing and cognitive dissonance. There are countless examples of intelligent investors blowing themselves up through the misuse of leverage or a trade gone Read more…
5. Stick to a budget. With this post, I’m not trying to say that you should cut out all spending. Instead, you should create a budget for yourself and still include some fun spending as long as it fits in your budget. A budget is great because it can help keep you in Read more…
“You don’t get it! He’s not gonna make it….there’s something he clearly does not get. He’s put himself in such a bad position” – yelled one. Another chipped in, “Well, he’s just being ungrateful. Why would anyone give up the stability of a job and a paycheck for something that’s Read more…
Today is the 6th edition of our new periodic guest post series called 10 Questions. We have a list of 17 NEW questions we pose to fellow financial bloggers, and they are free to pick and choose 10 or answer all of them. Let us know if you would like to be featured in a Read more…