The race between the Democrat presidential hopefuls was so tight in the Iowa caucus Monday that in at least six precincts, the decision on awarding a county delegate came down to a coin toss. The chances of winning six coin tosses in a row are just 1.56%, yet Clinton won all six coin toss. Now we know who’s the luckier. (marketwatch.com)
An anonymous reader writes: “Frugality has allowed me to: Chase my dream career, even though it’s low-paying and inconsistent work. Lessen my impact on the environment. It’s an excellent way to go green. Save up an emergency fund that’s given me the freedom to move when I want and leave terrible jobs. Find money I thought I didn’t have so I could save up for retirement. Free up money to buy more expensive quality items that last longer, rather than cheaper versions that break quickly. Completely change the way I view objects and money, for the better.” An article on US News shows why frugality is so important. It lists the five basic skills you can work on to get started saving money and living the frugal life. (usnews.com)
American spends almost $19 billion per year for Valentine’s Day. That means on February 14 the average person shells out $142.31. Men spend $190.53, while women spend $96.58 on gifts. Well, you don’t have to measure how much you love by how much you spend. Here are 9 frugal ways to celebrate Valentine’s Day by Everything Finance.
- Go on a date … at home
- Have a movie night
- Give a massage
- Leave hidden notes everywhere
- Have a fondue date
- Write love letters to each other
- Plan a scavenger hunt
- Spend it with someone who’s lonely
- Opting out of Valentine’s Day
We all have spare time every now and then, either during the weekend or certain hours everyday. But are you better off spending that spare time earning more money or being frugal? Simple Dollar delves in this excellent question to help you choose higher earnings or lower spending on your spare time. “The more precarious your financial state, the higher priority you should put on frugality. The reason for this is very simple. Frugality’s big advantage is its speed.” So, if your finances are pretty precarious being frugal in your spare time is better. On the other hand, “the more options you have to move up in your current career path, the more worthwhile it is to spend your free weekend preparing to earn more money.” Earning more money is a better choice if you already take care of your finance, complete most of the frugal projects already and have consistent blocks of spare time. Whatever route you choose on your spare time, whether being frugal or trying to earn more, it can greatly improve your personal finance situation. (thesimpledollar.com)
Mr. Money Mustache preaches about minimizing one’s car-related expenses to the bare bone. “When it comes to the Automobile, you really have a choice between two possible relationships. You can be the Master, and thoughtfully use cars as a tool as needed to reach your goals. Or you can be a Slave to the auto – worshiping it, allowing it to steal your money, your physical fitness, and your sense of control over your life.” In his situation, by spending only $1500 per year on vehicles’ expenses comparing to $9000 for the average two-care family’s spending, he’ll come out ahead by $104,751 over 10-year period. However, his friend Ben has a totally different saving route regarding to car-related expenses. Ben shows how he makes profit after he has owned and driven over 50 cars. Basically he gets his cars for free by buying, fixing, driving and selling cars for profit. Ben’s recommendations are to buy low, to look for neglected cars, to research and do as much work as you can on your own. Then sell quickly at a modest price. That way you still save money and have fun at the same time. (mrmoneymustache.com)
In order to become wealthy, you have to embrace money. Rather than bashing the rich, there are some insights to learn from the experiences of the very wealthy. Here is the list about 7 Life Lessons From the Very Wealthy.
1. Having money is better than not having money
2. Don’t become “cash rich” and “time poor”
3. Memories are better than material objects
4. Watch your “lifestyle leverage,” especially early in your career
5. Having goals is incredibly important
6. You must live in the here and now
7. It helps to be incredibly lucky
We should all study from the very wealth who have achieved success. It is very important to learn from their experiences that got to where they are and learn from the success. Wealth creation is a good thing so that you can be financially secure in life. (washingtonpost.com)
If you have a spending problem, can you earn your way out of a spending problem? A post at lifehacker shows that chances are you can’t dig yourself out of a spending problem by earning more. There’re certain situations where your income is really, then earn more is essential to digging out of that hole. However, once spending problem becomes a lifestyle problem, there won’t be enough money to fix the bad spending habits. Increasing your income is desirable. Unless you also take care of your spending side of the equation, you can’t dig yourself out of a spending problem by earning more.
If you found yourselves spending on needless stuff or regretting after big ticket items, Everything Finance has an article to show how to align your spending with your values. First, make a list on what’s important to you. From that list, pick out some of your absolute favorites so you can easily forgo unnecessary and trivial things. You can then share those goals with your loved one in order to work as a team and to keep each other accountable. Next, make those goals visible and monitor your spending to see if your goal of spending on your values is on track. The biggest thing is to learn to say no to yourself. By aligning your spending with your values, you will have higher success rate to save enough money for your favorite trip oversea, home down payment, or even retirement.
According to the National Association of Home Builders, the average size of a new single-family American residence in 1950 was 983 square feet. MarketWatch reports that nowadays Americans are buying bigger and more expensive homes as the average size has ballooned to 2720 square feet. That decision would delay many people the chance to reach financial independence early in life. There is no doubt that Americans’ families love bigger space as about half the new homes last year have four or more bedrooms and a quarter of them has three ore more garages. The average price of new homes also climbed to $351,000 in 2015, up $100,000 from 2009.
The Price of Happiness is confirmed to be $75,000 Per Year by a study from Princeton University. Another article written for About Money delves into the relationship between money and happiness as Joshua Kennon discuss this topic of how much money it takes to be happy. The first step to financial success is to define what you want. Once you narrow down the income the next step is to figure out the safe withdrawal rate to be happy with that income level. By selecting the proper asset classes, you can deride how much money you need in your portfolio to achieve your desired level of happiness.
On Money, Financial blogger Jason Vitug shows three essential money concepts for millennials to become financially savvy: Define your lifestyle, don’t keep up with the Joneses, and money can indeed buy happiness.
Millennials, born from 1980 to 2000, are now the largest, most diverse generation in the U.S. population. Here are some top financial mistakes that millennials make, written by Ashley Eneriz for Everything Finance blog. The financial mistakes include taking on a lot of debts, not saving for retirement, not having emergency fund, passing up on health insurance and ruining credit scores.
Interaction with pets can provide stress relief and comfort to pet owner. But taking care of pet costs money. Before you go out to get a pet, Jessica Sommerfield explains that there are some financial costs to consider before getting a pet. Whenever you travel there’s boarding fee for your pet. If you rent, there’s also deposit for pet along with damage expenses. Finally, you also have to consider vet bills throughout the lifespan of your pet.
Do you consider yourself as a middle class? and how do you define middle class anyway? Amy Livingston of Money Crashers delves into this issue of what is middle class in America. Often we hear from politicians talking about middle class without giving an exact definition. Media has various definitions to accommodate their viewers. The median American household income was $53,657 with an average net worth of $85,712, but these figures are not the whole picture. In addition to income and net worth, you have to look into education, occupation, lifestyle and aspiration to define the middle class. So it is not possible to define the middle class with household income only.