The Worst Money Advice That Keeps Going Around
The Worst Money Advice That Keeps Going Around, According to Experts
Andrew Lisa Mon, April 24, 2023 GoBankingRates
Some of the most popular money advice is as unreliable as it is common. From social media drivel to well-intentioned counsel from industry professionals, money misinformation can come from anywhere.
Sometimes it's bad investment advice. Other times, it's misguided suggestions about saving, spending, borrowing or building credit. No matter the subject, all misleading money guidance has one thing in common -- it never helps the person on the receiving end.
Understanding Wants and Needs to Improve Your Finances
Understanding Wants and Needs to Improve Your Finances
Financial Pilgrimage
Whenever you open up a news site, go shopping or fill the gas in your car, it can remind you of how expensive everything is. Financial experts remind us to tighten our belts and watch our spending as the cost of living rises. If we’re not careful, we may be unable to afford to pay for our necessary expenses, let alone extras.
But, for many folks, drawing the line between what is necessary and what is nice to have is challenging. In other words, it can be challenging to differentiate needs from wants.
11 Mottos to Live By
11 Mottos to Live By
Marjorie Kondrack | Apr 21, 2023 HumbleDollar
LIVING BENEATH OUR means is one of the best habits to develop if we want a secure retirement. Like many others, I learned this sort of thrift from my parents and grandparents, who lived through the Great Depression and, by necessity, had to avoid waste.
Not only did our forebearers survive the Great Depression, but also the Second World War came right on its heels. These were years of conserving materials—such as metal, rubber, paper and food—to support the war effort.
Class Worth Taking
Class Worth Taking
Greg Spears | Apr 20, 2023 HumbleDollar
LESS THAN HALF of Americans—46%—have tried to calculate how much they need to save to live comfortably in retirement, according to a 2022 survey by the Employee Benefit Research Institute. I often meet extremely bright people—doctors, residents, PhD students and professors—who say with a sheepish smile that they don’t understand the intricacies of their retirement plans.
For some, this lack of understanding is a choice. People who sense they haven’t saved enough, or any money at all, may not want to know where they stand financially. But arguably these and most other Americans have also been shortchanged. Personal finance is not a standard offering in the general education curriculum in the U.S. Last year, when I asked the students in my college economics class how many had previously taken a personal finance course, only one student out of 21 raised a hand.
When in Rome
When in Rome
Dennis Friedman | Apr 21, 2023 HumbleDollar
My wife and i visited Italy this year. We flew to Venice, where we stayed three days, and then hopped a train to Florence, where we spent the next five days. After that, we rented a car for three days and toured the Tuscany countryside, before catching a train to Rome for our final six days. I learned a lot about Italy, but I also learned some things about myself. Here are 11 takeaways from our trip:
1. Going home was one of my favorite parts. Before I retired, I thought I’d spend months on the road, and maybe even live overseas for a while. But after two or three weeks of traveling, I’m ready to go home.
What To Do With Unexpected Money
What To Do With Unexpected Money
Larry Keller The Physician Philosopher
A lot of us have an idea of what we should do with money that we earn on a regular basis from our physician jobs. Oftentimes it goes towards our typical cost of living expenses: bills, debts, savings, investments. But what about money you get that you weren’t expecting?
Because yes, most of us will, at some point, get at least a little money that we didn’t expect. Regardless of the source – whether it’s an inheritance, a tax refund, or a bonus at work – we end up with one question.
What should we do with this extra money?
10 Harsh Money Lessons That You Never Learned in School
10 Harsh Money Lessons That You Never Learned in School
By Martin Dasko / STUDENOMICS
“They should teach personal finance in college.”
“I wish I learned more about money in school instead of studying all that useless stuff.”
I’ve seen a variation of this message on social media over the years. Personal finance is one of those topics that we have to figure out on our own as we go through life, and it can be highly frustrating. This is why I wanted to look at what you likely weren’t taught about money as a high school or college student that you should know.
Here’s what college and high school never taught you about money that you need to know.
The Number One Reason Most People Are Broke Or Have No Emergency Fund
The Number One Reason Most People Are Broke Or Have No Emergency Fund
by Todd Kunsman InvestedWallet
I’m sure if you are reading this, you’ve come across other articles that talk about the importance of building your savings or having some sort of an emergency fund. Whether that be for an unexpected medical bill, something breaks down in your car, etc. I’m not personally a fan of the “emergency fund” term, as you should be building up your savings to use for investments, retirement, etc.
But whatever it may be, most Americans are in pretty bad shape if some expensive issue comes up.
We’ve Waited Nearly 15 Years For This
We’ve Waited Nearly 15 Years For This
April 19, 2023 Simon Black, Founder Sovereign Man
Thousands of years ago on the 27th of July, 54 BC, the famed Roman senator Cicero wrote a letter to his friend Atticus complaining about all the corruption and bribery that was destroying Rome’s political system. There was an important election taking place that year for Roman consul, which had once been considered among the highest political offices in the republic.
But by 54 BC, the consuls were just political stooges… because the real power was held behind the scenes by none other than Julius Caesar, and his rival Pompey the Great.
The 10 Most Important Things to Simplify in Your Life
The 10 Most Important Things to Simplify in Your Life
Written By Joshua Becker ·
Plant in clear vase on a simple white table - how to simplify your life
“Purity and simplicity are the two wings with which man soars above the earth and all temporary nature.” —Thomas à Kempis
Simplifying your life will bring balance, freedom, and joy. When we begin to live simply and experience these benefits, we begin to ask the next question, “Where else in my life can I remove distraction and simplify life to focus on the essentials?”
Once we’re able to answer that, we will understand what is important in our own lives.
A Better Path to Contentment
A Better Path to Contentment
By Joshua Becker · becomingminimalist
People look for contentment in any number of places.
Some look for contentment in a high-paying job, yet show their discontent the first time they are passed over for a raise. Some look for it in a large home, yet show their discontent by requiring countless improvements. Many have sought contentment in a department store, believing that one more item will finally match their desire, but they are always disappointed, despite the promises made in ads.
In our consumeristic culture, where discontent is promoted and material gratification is encouraged, learning to be content can be difficult.