.12 Money Tips for the Newly Single

By Mr Ssc June 9, 2020

Even if it’s for the best, ending a relationship can hurt in so many different ways. While most people are discussing the emotional fallout, which alone can be bad enough, conversations around the financial repercussions when ending a relationship aren’t as popular. Hopefully these money tips for the newly single will help you find your footing as you step into this new stage of life.

My Best Money Tips for the Newly Single

The challenges someone who’s newly single faces depends on the financial entanglement they had with their ex partner. Whether or not they lost money separating from them or took on any extra debt in the process also has a big effect on their immediate finances. For example, a couple who’s dating might just go their separate ways and be done with each other, but a married couple will have a lot more to split up.

If you’re leaving a long term relationship or marriage, and especially if there’s kids involved, it can be financially complex when you become newly single. Here’s some tips and things to keep in mind as you navigate your money post break up.

.How to Cope With Being Broke, Angry, and Ashamed

My Two Cents May 29, 2020 By Charlotte Cowles

Before Amanda Clayman became a therapist, she grappled with serious debt in her 20s. When she got her degree in social work in 2005, she decided to help people understand how money is tied to their emotional needs. “I wanted to say to as many people as possible, ‘Hey, it doesn’t have to be like this,’” she told me.

While the field of financial therapy is still relatively new, Clayman says a lot of therapists ask how they can address their clients’ financial anxieties. Her answer is simple: “’Talk more about money!’ I’m not offering financial advice.” Today, as the entire world grapples with the financial fallout of the pandemic — layered on top of the devastating toll of human loss — her work is more in demand than ever. In addition to treating patients, she recently partnered with the podcast Death, Sex & Money to launch a three-part series, Financial Therapy. We talked about how she overcame her own struggles with money and what she’s telling her clients who feel overwhelmed by financial stress and uncertainty.

How did you get into financial therapy in the first place?

.Money Advice for the Extremely Broke and Deeply Screwed (Thanks COVID-19!)

By Katie Way Apr 17 2020,

If you're laid off and panicking about how to eat AND pay rent, personal finance experts have some practical options and advice for you.

It is almost too much to have to think, in the midst of all the chaos and fear surrounding the COVID-19 pandemic, about finding a new job. But, for at least 22 million Americans who’ve been laid off as a result of widespread business closures and shelter-in-place mandates, that’s reality right now.

And the layoffs don’t seem like they’re going to stop anytime soon, either. According to a report from Data For Progress, 52 percent of workers under the age of 45 have had their income negatively impacted as a result of this crisis, and some economists predict our current rate of joblessness could actually surpass the unemployment rate during the Great Depression.

So, yes, we may be living in a crisis that rivals a period in American history when people were eating dust (?) to survive, but at least we’re doing it together. Awesome!

.How To Know If You’ll Be Successful

By Benjamin Hardy

Life is complex and messy. It can be extremely difficult to get traction, let alone find motivation.

But motivation is something you can learn to create at will. Becoming deeply passionate is also within your creative control. As a result, you can completely predict your own success. You can choose to become as successful as you desire.

Here’s how:

1. Turn Success Into A Game, Not A Grind

“Life is a game, play it.”— Mother Theresa

We hear a lot about people “grinding” these days. That sounds awful! Grinding day in and out is a path to burnout and misery.

The best performers in the world don’t grind, they game! For example, Warren Buffett became good at selling because as a child he would go door-to-door selling chewing gum. But he wasn’t focused on making money. Instead, he was fascinated trying to figure out which flavors sold best. Even back then, he was trying to make predictions. He’s still playing the same games.

According to author, Daniel Coyle, “If it can be counted, you can turn it into a game.”

Take Control of Your Money: What Does it Mean and How to Get Started

By Cash For Tacos April 27, 2020

I like to say that my life changed when I took control of my money. And, more importantly, I want Cash for Tacos to help you take control of your own money and change your life as well.

But what the heck does it even mean to take control of your money? And if you don’t know, how can I inspire you to make changes? I think it’s a phrase worth taking the time to define. So let’s dive into what it means, why it’s important, and how to actually start doing it.

My Life Before I Took Control of My Money

Taking control of my money is what motivated me to start Cash for Tacos. The feeling I had once I took charge of my financial situation was nothing like I’ve ever felt before. I felt empowered and like I could accomplish things I had never dreamed of. But what did my life look and feel like before I took control of my own money?

My life looked like what I expected a “successful” life to be. I had a decent paying job, financed a nice car, went on nice vacations, and bought all the clothes and kitchen gadgets I wanted. I was making a life for myself as I thought I should be. But at the same time, I was constantly worried about whether I had enough money in my checking account to cover all of my bills.

.Treasure Hunting

By Richard Connor June 5, 2020

Many of us have found ourselves with free time on our hands. I’ve read that folks are filling their days with shopping, baking, exercising and binge-watching TV. May I suggest another activity, one that may prove profitable?

Over the past few years, I’ve found significant amounts of money in unlikely places. These treasures often come not just with monetary benefits, but also great memories. Here are four places to look:

1. Forgotten savings bonds. I’m old enough to remember when paper savings bonds were a common gift for birthdays and holidays. Many companies also had savings bond buying programs, encouraging employees to invest and pitching it as an act of patriotism. If you signed up, the money to be invested was taken out of your paycheck.

.Does Our Personality Help Determine Our Financial Success?

Jonathan Clements June 6, 2020

Does Our Personality help determine our financial success? It seems it does, or so says academic research. Psychologists have zeroed in on five key personality traits: extraversion, conscientiousness, agreeableness, neuroticism and openness to experiences. Think of each trait as a spectrum from, say, very conscientious to not at all. Each of us sits somewhere on the five spectrums. Maybe we’re a bit of an extravert, somewhat inclined toward neuroticism, and extremely open to new experiences and ideas.

There’s a host of websites where you can take a relatively quick quiz and get scored on the five dimensions, including FiveThirtyEight, OpenPsychometrics and Truity. You don’t have to pay or give your email address to get the results at these three websites, though Truity has a more in-depth report that’s available for purchase. My scores from the three sites were remarkably similar, so taking just one test will likely suffice. What should you make of the five traits?

.38 Secrets for Financial Success: My Personal Finance Manifesto

By Len Penzo

Awhile back, somebody asked me to summarize my personal finance “playbook” in a blog post. Well … Here it is:

Debt is a form of indentured servitude where people agree to sacrifice a portion of their future earnings in exchange for instant gratification.

ATM machines are the Achilles’ heel of impulsive spenders.

History tells us that all fiat money eventually returns to its intrinsic value: zero. The US dollar is fiat money.

Given a choice, it’s always better to live your life anonymously rich, rather than deceptively poor.

If you have to ask your boss for a raise, then you need to find a new employer.

When in doubt, always choose credit over debit.

It’s almost impossible to effectively manage your personal finances if you don’t track your income and outgo.