|
I have been writing about money for nearly 20 years and believe that personal finance is one of those subjects that is made complicated because it benefits a select few. Our aim is to help make it easier to understand so that regular folks can use what we teach to take control of their money and build wealth.
Good morning Reader! When it comes to your money and investing, there are three distinct phases - the setup, the accumulation, and then the drawdown. Early in the process, there's a lot of work to set it up. You create a budget, you dial in your spending, and you save and invest your money. Then there's the accumulation phase, the "boring middle," where you simply wait. You make automatic contributions, you go about your life, and you wait until your portfolio hits "the number." Then, of...
Good morning Reader! I was chatting with a friend who works at a consumer products company and she's seeing consumer behavior change. More and more people are using a barbell budgeting strategy when it comes to their spending. This is where you spend spend more on high-end luxury while cutting aggressively on the basics. People are choosing to spend on the things that bring them joy. An example of this is when you choose to go out to a fancy meal on the weekend but during the week you're...
Good morning Reader! If you're concerned about gas prices, I have a simple tip - slow down. The faster you drive, the less efficient your car will be. And that means you are spending more money at the pump. Instead of going 70 MPH, go 60. It's also safer that way, up to a point. I wouldn't creep along at 45 on a highway but slower speeds means you have more time to react to surprises. Slow down and arrive safe! π² Best Bank Rates (as of 9/29): π° High Yield Savings - 4.20% APY + $400 Bonus from...