While we can easily get wrapped up in the day to day life and forget (or put off) improving our finances, now is the time to take action. Sure, a lot goes into personal finances such as budgeting, spending, and saving, but there are actions you can take to set yourself up for success not only in the short-term, but down the road. It may in fact be decades away until retirement, but that doesn’t mean you should put off trying to secure your financial future. Check Your … [Read more...]
While knowing the difference between ira vs 401k will really matter to which better caters to your own financial situation, the same goes with your food budget and what you can afford, or better yet, make a few changes to ensure you can free up extra money and put towards more important areas such as building up your emergency fund to give a little financial cushion, paying off and staying out of debt, not to mention saving for retirement, which could be the most important, ensuring you have … [Read more...]
Keeping a successful budget is difficult, probably why two-thirds of American’s fail at it. In order to have an efficient budget, you will need to budget for monthly expenses, including utilities, mortgage, car payments, and food and gas, but beware of a few items that can ruin a budget quickly if you are not careful. Auto Upkeep & Repair If you have a new lease, you probably not need to worry as oil changes are now only needed once a year and everything is covered under warranty, but … [Read more...]
Most people want the American Dream — to be able to buy whatever you want whenever you want it. That American Dream can turn into a nightmare if you're not careful. Debt can creep up on you and take you down when you least expect it and when you're most vulnerable. It's easy to get caught up in the trap of thinking you have to have it now, and that they only way to pay for it is by swiping a credit card or taking out a loan. Aside from an "I want" mentality, there are some other warning … [Read more...]
I can remember looking at my wallet and realizing that the money I thought was there was gone. Not stolen, or lost. It was just spent. And I couldn't remember where I had spent it. It was a good lesson for me. You have to learn how to effectively track your finances before you can make positive changes to your financial situation. When you learn to keep this part of your life well-managed, you alleviate a lot of unnecessary stress and worry. … [Read more...]
Creating a budget is one of the best things you can do in regards to your finances. By creating and sticking with a budget, you will know how much money you have to work with, and where it's all going. But here's the secret to making a budget work. You've got to create a budget that you can live with. It has to be realistic. … [Read more...]
My friends and family think that because I run a blog called Northern Cheapskate, it somehow means I'm a money hoarder with a big stack of cash hidden away. The truth is that I struggle with finding ways to save money just like most folks do. There are times when it seems like just when we're making progress on a savings goal, something comes up and puts us right back at square one. There are times when I look at my budget and discover that there's more month than money. What I have come … [Read more...]