Money Management
Money management refers to the processes of budgeting, saving, investing, spending, or otherwise overseeing the capital usage of an individual or group.
7 Money Management Tips to Improve Your Finances.
Track your spending to improve your finances. Create a realistic monthly budget. Build up your savings—even if it takes time. Pay your bills on time every month. Cut back on recurring charges. Save up cash to afford big purchases. And, start an investment strategy.
This understanding provides you with a 360-degree view of your financial picture. The goal is to apply key financial disciplines to help you overcome the obstacles to wealth.
With a clear purpose for your money and sound management principles behind it, you are in much more control of your financial destiny.
-
The Problem with Social Media Financial Spending Plan
Conscious Spending Plan, as defined by Ramit Sethi (renowned financial author) is a short-form financial plan that accounts for savings while indulging in guilt-free spending. With that, his aim is to decouple the notion of money as either being rigidly disciplined vs living in the moment. “…It is all about spending extravagantly on the things you love, as long as you cut costs mercilessly on the things you don’t. It’s not about restriction. It’s about being intentional with your money and then spending on the things you love guilt-free.” Ramit remarks that the plan is rewarding because you get to CHOOSE how you want to spend your money AND how…
-
Earning $250K Per Year, And Learning How to Not Live Paycheck to Paycheck
There is no shortage of headlines with couples earning over $100k and living paycheck to paycheck. It doesn't have to be that way at all.
-
How to Create $7k in Passive Income Quarterly – Q3 2023 Recap
The second quarter of 2023 was hopeful but the third quarter was a struggle. High Inflation is here to stay. A global recession is pretty much certain for 2024. In translation, get creative and earn more.
-
Where are Americans Making Over $100k in a Year?
With the median salary in the US in 2022 set at $70,784 (down 0.5% from $71,186 in 2021), where are Americans making $100,000 or more? From perfectly curated kitchens, social media has a knack for filtering “positive stories,” devoid of inflation and high prices. Nearly 61% of Americans are reportedly living paycheck to credit card debt. The US personal savings rate plummeted to 3.9% in August 2023 (down 0.2% from July). This is well below the decades-long average of roughly 8.9%, especially as debt accumulation rises to record highs. The median weekly earnings of full-time workers in the four months ending December 2022 were $1,050 (less than $53,000/yr). Any amount above…
-
Time to Save Again for Financial Emergencies
The stock market tumbled in September 2022, however the real turbulence came with a family health and financial emergency. Sometimes Building Wealth Takes a Back Seat.
-
Ready to Pay an extra $400 toward Student Loans Monthly?
After 3 years of Federal student loan forbearance, Americans will contend with a familiar line item in the budget. Most aren't ready for it.
-
American Households in 2022 spent $72,967. How much did we spend?
The Average American Household earned $94,003 pre-tax and spent over $72,967 in 2022. Unfortunately, they only saved $8,742. How did we do?
-
Here are the Latest 401k, IRA, HSA, and Other Contribution Limits for 2024
One of the best ways to become an automatic millionaire in your lifetime. Don't skip on the contributions.
-
Putting the Lens on Black Wealth – How We Are Reaching F.I.R.E.
Investment thunderstorms and costly repairs. Building wealth has never been harder but we can make it through. We are reaching F.I.R.E.
-
Important Information to get your Financial Affairs in Order Before Death
Getting your financial affairs in order before death is the best way to protect and support your family. Don't wait to get it right. YOLO
