All Articles Tagged "money"
Love is supposed to conquer all, even money issues. But while you’re able to get away with refraining from having those tough conversations early on, relationships that have reached a more serious level require earnest money talk.
Money matters break up more serious relationships than almost any other issue. Luckily, there’s a way to save what you have and still and work together on monetary concerns.
Talk about problems before they pop up or get really bad and they’ll soon be a non-issue in your relationship. Already arguing about money? Learn how to make those discussions productive and you can put that energy into saving more and fighting less.
How do you handle money issues in your relationship? If you have tricks to keep money as a non-issue, share it in the comment section so we can add it to the list.
People love to give advice. It’s just a part of human nature. Your grandmother thinks she knows what’s best for your relationship, your boss has opinions on your stock portfolio, and even the stranger in the produce section has tips on picking out plums. But it’s not a good idea to listen to every piece of advice that comes your way.
Even when its well-intentioned, not all advice is good advice. There are some pieces of homespun wisdom that you should never follow. From relationship tips that will wreck your marriage to money advice that will leave you in the poor house, this advice is almost always bad.
The next time someone rolls one of these helpful hints your way, it’s probably best to simply say “Thank you” and keep it moving right along. If someone has given you a disastrous piece of advice, let us know in the comment section so we can be sure not to follow it either.
It’s free to walk up to someone, to slide in a person’s direct messages, or to slide your number in their hand (or their phone) at a social event, but to actually make a real effort to date them? Now that’s expensive.
In the early stages of dating, the impression you make is important, so you have to choose date venues, activities, and ideas wisely. There’s the pressure of keeping the other party interested, excited, and happy because you don’t want to bore them to death in the process of getting to know them. In the age of $200 date debates, are you ready for this new age of dating standards and expectations? More importantly, can you afford them?
According to Cosmopolitan, the average person will spend between $80-$100 on a single date night. Doing simple math, if you plan about two dates a week, you could find yourself spending upwards of $800 a month. A recent study by Match.com showed that American singles spend about $60 a month on dating, and if you live in a large city, that number basically doubles. It’s not uncommon to splurge in the beginning of the relationship, especially on the first date when you want to make a good impression and show the other party how serious you are about getting to know them, but as time goes on in the relationship, you’re quick to realize that your pockets can’t handle it anymore. Don’t get me wrong, there’s nothing wrong with staying in some nights, ordering food, and watching a movie together, but when that becomes your go-to “date,” things can get a bit boring pretty fast.
After surveying a few social media followers on whether finances determined their dating patterns, most admitted to being single because they couldn’t afford to pay their own expenses while also attempting to “wine and dine” someone “every other night.” There were a few followers who said they try to be creative with date ideas in order to save money. Some still resided with their parents and expressed that while they could afford to date someone, it usually didn’t go far because of their living situation. But the consensus was that yes, dating is expensive. It’s something you have to budget for as an entertainment expense. And with prices going up rapidly for many date night activities (remember when movie tickets used to be around $7?), sometimes it feels like you can’t get to know someone without spending a pretty penny.
If you find yourself in the position where you have to say a prayer every time you hand the waiter or cashier your credit card hoping that your payment is processed, chances are, dating is a financial burden for you. If you find yourself constantly bringing up splitting expenses on a sneak tip because you don’t want to just come out and say you don’t have enough and would like for your date to help, you can’t afford to date. When you find yourself constantly swiping when you’re already near the red and hoping you have enough funds in your savings to cover overdraft fees, dating shouldn’t be a priority for you right now. And when the reason you can’t go out on dates is because you’re struggling to pay bills, get groceries, and barely function, you have to ask yourself, are you financially in a place to build with someone towards a relationship or do you need to focus on getting your life together?
Can you remember how you felt after you graduated from college? Aside from being happy I had a degree, it made me feel like a real adult. Granted I was already living in my own apartment and starting my career (I had a salaried position with a design company my senior year), I didn’t feel like I had all the answers.
No matter how much you try to prepare, there’s always some area where you lack basic knowledge. It’s understandable considering many college students had assistance from their parents and never truly tasted what the real world has to offer. If only there was a “Real World 101” course during my time in school that prepared me for what’s in store.
Maybe there is now.
One thing is quite clear: college graduates today lack a basic understanding of financial management and planning. Failure to grasp these essentials unfortunately can and will lead to high debt and improper planning for the future.
Perhaps we need to focus on teaching our loved ones personal finance instead of patting them on the back and handing them an expensive gift when they cross the stage.
A new survey called Money Matters on Campus is taking a look at first-year college students across the United States, and sheds light on what they know about debt and personal finance. With tuition and student loans on the rise, the study also reveals college graduates have an 8.5 percent unemployment rate and 16.8 percent underemployment rate. More than half of the students surveyed fear not being able to pay back their student loans (many will default) with a general consensus of feeling ill-prepared to manage money.
Young adults today aren’t acquiring wealth like their parents and as a result are holding off on marriage, having kids and home ownership. More are managing money on their own and are likely to have credit cards, but not budget, save or invest. What’s sad is that some will even resort to payday loans which are usually a financial kiss of death.
After reading the survey I found something very interesting that sheds light on students in two and four-year institutions. According to the survey, graduates from two-year college programs are more likely to possess money savvy and responsibility. While 26 percent live paycheck-to-paycheck compared to 16 percent of four-year students, they lead in areas of balancing checkbooks, using budgets (60 percent of two-year students have one compared to only 39 percent of four-year students), and mindful spending when their money is low.
I have a younger sister finishing up her sophomore year in college, enrolled in the business honors program. We have frequent chats about life after graduation that include what to expect and common banking practices. While she thankfully won’t have college debt thanks to academic scholarships, she is concerned about finding a good enough job that will help make her as self-sufficient as possible.
My son and my bun baking in the oven are way too young to understand anything about money. My husband and I invest in their academic future through 529 college savings plan but will keep an open dialogue regarding personal finance and what to expect. As parents, it’s our job to give as much financial advice as possible so they can reach greater heights and hopefully not make the same mistakes.
What conversations are you having with your children about money? Here are some reads you might want to check out.
A lot goes into changing your financial future. It’s not easy to do, but it’s possible to turn questionable spending, saving and bill-paying habits around. Success, no matter the kind, always begins with changing your mindset. Whether you’re looking to start your journey to “getting to the money” at the end of the rainbow or need to turn the future of your money around and don’t know where to start, all you need is that push. That encouragement to reach your goals. That’s why you should keep the following affirmations in mind. Stick them on your mirror, save them to your phone, put them in your wallet and keep them close.
These positive quotes will help you figure out what you need to do to be more financially stable, and remind you to stick to your goals no matter what life throws your way — even if money isn’t all you want to attract to your life. What affirmations do you use to inspire you when it’s time to hustle toward your goals?
Millennials get a bad rap for a lot of things, but one thing that people can’t say about us is that we’re spending our cash all willy nilly. According to a recent study conducted by TD Bank, millennials are spending less than Generation X and the Baby Boomers.
Despite the fact that we dine out more and shop more than previous generations, we’re spending less during these outings and shopping excursions. Researchers found that millennials ate out 13 times per month in comparison to Generation X, who eats out eight times per month and Baby Boomers, who tend to dine out five times per month. Ironically, Millennials only spends $103 per month at restaurants, while Generation X spends $123, and Baby Boomers spend $139.
Of course, the results of this study can likely be explained by the fact that we probably have way less money at our disposal than Gen X and the Baby Boomers. However, we can definitely celebrate the fact that we’re using our credit cards less than our cohorts.
According to the survey, the average American “spends $4,700 per year with a credit card, and $2,400 with cash, a debit card and checks for discretionary purchases.” However, Millennials were found to use cash, debit cards, and checks more often and are reported to charge 22 percent less than the average consumer.
“Millennials used debit cards, cash and checks for 50 percent of their overall monthly spend, and credit for only 33 percent,” researchers explained.
Are you good with money? Are you sure? Because there’s a new study that suggests that most of us are not as good with money as we think — especially when we’re in love.
When you’re single, counting coupons, signing up for deals, and cooking at home might be part of your savings strategy. But as it turns out, when most of us fall in love, our wallets get just as overwhelmed as our hearts. And the strangest part? Most of us don’t even realize it.
Check out these ways love makes you bad with money to see the ways we all get fiscally funny when it comes to matters of the heart. The real question? Will this make us change our spending habits? (Um…probably not.)
Between the appetizers, drinks and main courses, men and women drop major coins in an attempt to wine and dine prospective partners. And don’t forget about dessert.
Hopefully you’ve made the tax time deadline, and now those of us in a certain tax bracket, with a dependent (or two) and few favorable deductions, can expect a little infusion of cash. Even though it’s a nice little lump sum, the money can go just as fast as it comes. Here are 10 ways to spend the money from your income tax return, so you get the most bang for your buck.
New Technology Device
It seems cell phones, tablets and computer upgrades happen at the speed of light. It’s impossible to keep up, but investing in the right technological device can add value to your life. Upgrading my cell phone to smart device was a good move. It’s like having a personal assistant in the palm of my hand. I find it easier to keep track of appointments, research and document all of the cute things my little one does. You don’t have to buy a snazzy new phone to keep up with the Joneses, but having one can help you at least keep up with your own life.
Pay Bills in Advance
I love to look at a bill and see a zero balance, or better yet, a credit. This doesn’t always happen when there’s so much month left after the money, but this is the time of year to throw a little extra at your bills. It makes things more manageable in the months to come.
Invest in Your Side Hustle
Nowadays, just about every mom needs a side hustle. Whether it’s babysitting, blogging, or consulting – we are no longer limited to using our skills just in the workplace. But in order to get your side hustle at the level it really needs to be, you have to invest in it. This could be something as simple as upgrading your website, printing new business cards, or leasing space in an office building. It’s always a good thing when we find ways to use our money to make more money. Invest in your side hustle and chances are it will come back to you ten fold.
If you’re finding that you always have somewhere to go, but don’t ever seem to have the right outfit to do it in, it’s probably time to upgrade your wardrobe. Personally, I like to have a good assortment of jeans, tops and accessories on hand, because I refuse to show up in life as the “frumpy mom.” It’s also important to keep your work attire fresh and up-to-date. No better time than to splurge on a few quality pieces than tax time.
Any mom on a budget, probably isn’t getting as much time at the spa as she wants and deserves. This little infusion of cash could totally be used to sponsor a guilt-free trip to the spa. A proper manicure, pedicure, facial and massage may be just what you need to get back on track.
Go on a Mini Vacation
While the budget may not stretch to do a really expensive vacation, taking the kids to an indoor themed water park is a really economical way to have a lot of fun using your income tax returns. Most stays are all inclusive and you’re building memories to boot. A little mini vacation may be just what the family needs. Not a bad way to spend a tax return, at all.
We all have those moments where we wish we could make a little extra funds without an added headache. We are no longer in the days where having a side retail job is a great go-to choice and would much rather make the extra funds while still being able to attend to a growing toddler or (disappearing) teen.
Many lists include offering tour guide services, renting your vehicle out, dog walking or personal shopping – all of these possibilities are great, but not necessarily for a busy mama. We researched tons of opportunities and judged them based on ease, commitment, growth ability… and fun. A few take more hustle and dedication than others, but we believe you’ll be happy while doing them (time to decorate?) and others are a breeze (clean out that closet!).
In today’s unstable economy, it is always a good idea to have more than one income and why just do it for the cash? Many options on this list may lead you to find your passions and a new career choice altogether. Gte out a pen and paper to brainstorm and figure out which of these side hustles for a busy mama work for you. Let’s get to the hustle!