Creating a fully funded emergency fund should be the first step for people trying to get their finances in order. These days the average American only has about $400 of emergency cash on hand. That’s hardly enough to pay for a month’s worth of food, let alone other basic needs such as housing and utilities. If you don’t already have an emergency fund then follow this … [Read more...] about The Definitive Guide: How to Start & Build an Emergency Fund
Budget like a Pro
Today I want to start with a question. What is one of the most universally advised practices that so few people actually do? Think for a minute. Budgeting. Nearly every living person recognizes the value in creating a budget. Everyone knows how important they are to saving money. Retirement experts, financial advisors, and money bloggers all hype up the value in … [Read more...] about The 50/30/20 Rule: Is it the Best Budget for you?
I’ve been putting this challenge off for months, but the time has come. I’m going to take 12 weeks to see exactly what it takes to lower our monthly food bill and save money on groceries. Everyone knows that food is one of the biggest monthly expenses and it probably has the most variability from person to person. Some people find ways to get by on $100 a month while others … [Read more...] about The Great Big “Save Money on Groceries” 12 Week Challenge
You’ll probably agree with me on this… Finding balance is tough, especially when it comes to money. So when is rewarding yourself worth it? When you’ve finally figured out how to manage your own money and put yourself on a path towards financial success, the challenge becomes finding the right balance between sticking to your goals and enjoying life along the … [Read more...] about Embracing Lifestyle Inflation with Scalable Spending
Budgeting sucks. Reducing your spending. Cutting your expenses. Finding ways to save. Paying down debt. Increasing your income. Optimizing your investments. 99% of people probably have better hobbies than trying to find every way to save more money. I admit that I’m one of those weird people in the 1% who actually enjoy this. But I also recognize that most … [Read more...] about Return on Effort Matrix: Budgeting the Smart Way