When people don’t take the time to develop an investment strategy—generally because they don’t want to see how far behind they are—they’re more likely to adopt an “anything goes” philosophy.
I believe the ability to change your personal financial philosophy is a wonderful privilege that many people simply ignore, if not deny.
Those very close to you—even well-adjusted adult children raised by you—will struggle to contextualize your balance sheet, which often becomes a detriment to their financial existence.
Context is everything, and there’s no way you’ll ever have enough context to understand another person’s financial life, especially in casual, social settings.
Our year-end household financial meeting has become something we look forward to as late December ticks on.
Not needing a lot of money is a better strategy than having a lot of money.
I feel I’ve already learned a ton from this experience so far, and those lessons have brought me a sense of thankfulness.
@et meaningful financial goals. These goals should bring a great sense of accomplishment, once you achieve them.
The most complicating factor is that we don’t know how much we’ll need because we don’t know when we’ll die.
An unemotional, rational approach to this question will always yield the best results.
Whether or not a constitutional crisis–and all the economic and market chaos it would bring–is nigh, it’s impossible to time our exit and re-entry into the markets,
Many restaurants are in very serious danger of not making it to December. Every dollar you can spend matters.
The pandemic is not over yet, nor is the economic fallout, but I do believe Americans’ financial sensibility could conceivably shift in a healthier direction.
It’s easy to dismiss financial mistakes with the old, “It made sense at the time.” But here’s the thing; a lot of times, those decisions didn’t actually make sense at the time.
Following my first two rules will create an inordinate amount of stress if he were to earn at or below living wage, even if he is living with you and eliminating most of his living expenses.
Debt elimination is a beautiful thing. From paying off student loans to making your last mortgage payment, getting rid of monthly debt obligations is undoubtedly an accomplishment worth acknowledging and celebrating.
There’s something incredibly practical about putting money into your home, in the right places. The key is to not get carried away by convincing yourself every dollar spent is wise or even an investment.
Proper financial planning does not require additional work. It requires timelier work.
You can’t change your mistake. That ship has sailed. But you can resolve to never do it again.
Self-sufficiency can turn instability into stability by leveraging an abundance of time to save money.