Hi All, As you may know, Eric Tyson is a prolific writer and personal finance columnist. We have a copy of his book Personal Finance For Dummies, and have found it consistently useful for several years. Among other things, Tyson gives the following five points of advice: 1) Prepare for Lifes Changes: The more you live within your means, build up a cushion of emergency … [Read more...] about Five Financial Tips For Thursday
Recently, you’ve likely heard many pundits express concern that we may be heading into a recession. As the Fed increases interest rates to attempt to stop high inflation, many people worry that the housing market slow down will help tip us into darker economic times. While my husband and I live frugally, we’re preparing our budget for a recession by making some financial … [Read more...] about How We’re Preparing Our Budget for a Recession
Being Childfree allows you the time, money, and freedom to achieve your dreams. The challenge is that most of what you read on finance assumes you have children (even if they are not with you right now). To get a better understanding of what it is like to live a life of Childfree Wealth, I interviewed 26 Childfree Individuals and Couples for my new book, … [Read more...] about What does it mean to live a life of “Childfree Wealth”?
Okay, nerd budgeting time. I’m the budgeter in our family, and I use YNAB. We’ve used this program for several years and love it. However, within the last year, I’ve added some categories to our budget that have made a huge difference in how smoothly our monthly budget runs. Namely, we used our raise to budget for true expenses. … [Read more...] about How We Used Our Raise to Budget for True Expenses
Donna’s grown daughter, Felicia, asked her mother for money to start a new business venture. Donna didn’t feel comfortable with the business, but she wanted to help her daughter. Plus, she knew if she said no, Felicia would threaten Donna by withholding Donna’s access to her grandchildren. Donna pulled the money from her retirement account. Four years later, Felicia’s business, … [Read more...] about How to Set Money Boundaries in Relationships
When I lived in Chicago, our landlords had been married for over 20 years. He was used to being the breadwinner. She worked part-time at a low-income job and helped to manage their three rental properties. During the economic downturn in 2007, he lost his job. At first, he optimistically applied for other positions, but as the months dragged on, he went into a deep depression … [Read more...] about 3 Ways to Help a Financially Struggling Spouse
Sometimes life doesn’t seem fair. We acquire knowledge throughout our lifetime, but we can’t go back and improve on our younger selves. However, by reflecting on mistakes made in the past, we can stay on course in the present. … [Read more...] about 6 Things I Would Tell My Younger Self
Money arguments occur in many marriages, but they don’t have to. When you learn how to improve financial communication for couples, you will find that you have less to argue about because you understand one another. Once you’re on the same financial page, you can work together to achieve your goals, which sounds better than rehashing the same tired financial arguments month … [Read more...] about How to Improve Financial Communication for Couples
Years ago, when I worked full-time and my husband was a graduate student, we dined out several times a week in the evenings. In addition, I would go out to lunch with co-workers at least twice a week, and I would buy food at the college cafeteria the other days. (The food wasn’t that good!). I didn’t realize until a few years after I had stopped dining out why I wanted to go … [Read more...] about Why I Dined Out Constantly and How I Stopped
If you are like most American couples, you are likely to put a lot of thought into finance management. With this in mind, are you and your spouse doing all that you can to avoid a car accident? Car accidents can be very costly, putting a dent in your wallet that is very preventable. So, what can you and your spouse be doing differently to avoid a car accident and its financial … [Read more...] about Are You and Your Spouse Doing Everything You Can to Avoid a Car Accident?