Financial wellness encourages various behaviors such as creating a budget and proposes habits which will increase your net worth.
Visual Capitalist completed a study in 2019 on the spending habits of Americans by income group. Unsurprisingly, the average American household spent close to 5.3% of their take-home income, or $3,365 per year, on dining at venues outside the home, take-out, and fast food. Out of the $7,728 spent on food, 43.5% of that was […]
The Long-Term Cost of Dining Out – Money Versus Time Read More »
More and more young professionals are envisioning an early retirement as their main financial goal. Most have turned to the “FIRE” movement, which stands for “Financial Independence, Retire Early,” for information. This movement promotes frugality, and sometimes extreme frugality, to reach financial goals. In the video below, I explore a hypothetical example to illustrate how
FIRE: Will I Be Able to Retire Early If I’m Frugal? (Video) Read More »
Going into a relationship with debt is comparable to entering a relationship with unresolved psychological issues – you are bringing something into the relationship which you know cannot create a mutual benefit. Since debt carries such a negative stigma, it should come as no surprise that when newlywed couples argue about money, it’s normally about debt, its impact it has on the family, and whose responsibility it is to pay it off.
Have the “Money Talk” Before the Wedding Read More »
Everyone has had a credit score since they were 18 years of age. This fluctuating number follows you your entire life, sometimes making life a headache. What the three main credit bureaus (Equifax, TransUnion, and Experian) are attempting to calculate when assigning you a credit score is your likelihood as a consumer that you will
Credit Scores – Why You’re Paying So Much Interest & How To Improve Your Score Read More »
At my previous workplace, we watched Glengarry Glen Ross (a classic movie on the difficult life of salespeople) each year. One of my favorite lines was when a hot shot salesperson (Alec Baldwin) was lambasting several poor performers. The line was. “You drove a Hyundai to get here tonight, I drove an $80,000 BMW. That’s
How My Old Hyundai Made Me $30,000 Read More »