Saving Money Better – Focus on the Big Wins First

A lot of people set resolutions to save more money. In fact, it was the third most popular resolution for 2015, behind only “lose weight” and “get organized.” But as we’ve noted before, only 8% of people successfully achieved their resolutions. So how do we go about making sure that we are the select few who actually do save more money?

Do you focus on the Latte Factor and cut out your daily coffee? Do you drive around in search of the best deals or spend your Sundays clipping coupons?

I would argue that if you want to save the most money, you need to first look at the areas where you spend the most money. Continue reading “Saving Money Better – Focus on the Big Wins First”

You Need to Be Investing!

Whatever bad things you want to say about them, Millennials are good at saving.

This is assumed to be due to being in their formative years when the 2008 recession happened. One expert noted that prior generations saw “plenty of boom times where the stock market was going up, home prices were going up, so they didn’t feel they had to save.”

Millennials saw that markets can go down and home prices can go down and placed more emphasis on emergency savings and a bit less on consumption.

That’s great news! The bad news is that Millennials aren’t investing the extra cash that they are stowing away. Continue reading “You Need to Be Investing!”

Budgeting (Or Not)

Let me just say up front that I budget. Don’t pretend to be surprised. I know I’m a nerd.

But I won’t judge you if you don’t.

What I do want to make sure you do is make a conscious decision about how to handle your money. If you’re ignoring budgeting because you think it will take too long or be too constricting, then your money may be leaking out in places that you don’t want it to.

Whether you decide to budget or not, here’s what you should know before deciding how to apportion your money. Continue reading “Budgeting (Or Not)”