That’s a Yotta Crypto? The best high-yield savings account is now offering more

Yotta is a FDIC-insured, lottery-based, high-yield savings account. Previously, I’ve written an article singing the praises of this app (link). The current system offers you 0.2% APY plus lottery winnings. This averages out to be around 1.5 to 1.9% APY. While this return is lower than the 3% offered by Porte and HMBradley, you only have to put money in Yotta to get the APY. … Continue reading That’s a Yotta Crypto? The best high-yield savings account is now offering more

Coffee shops are a privilege, not a right: Luxury is the new normal

Millions of Americans start their day with coffee that they buy from a coffee shop. They drive out of their way to wait in lines to pick up their morning caffeine fix for outrageous mark-ups. This “luxury” of not having coffee at home has infected people so much that they can not contemplate giving up their daily Starbucks run, or maybe two if it is … Continue reading Coffee shops are a privilege, not a right: Luxury is the new normal

Porte, the 3% APY savings account – What’s the catch?

High-yield savings accounts (HYSA) do not feel high-yield anymore. The national average APY for US savings accounts is 0.06% according to the FDIC. 0.06% APY means that for every $10,000 you have tied up in a savings account, you are paid $6 per year. Obviously 0.06% will not protect you from any level of inflation, which means that these savings accounts are useless. Other online … Continue reading Porte, the 3% APY savings account – What’s the catch?

Buying homes with friends: Millennials’ new recipe for drama

With the price of homes still at record highs, some Millennials are coming up with a new strategy to get into home ownership: buying homes with friends. Millennials are growing tired of paying higher rents and losing out on building equity in real estate and the appreciation on home values. Therefore, some are partnering with friends and roommates to buy a nicer home than any … Continue reading Buying homes with friends: Millennials’ new recipe for drama

Christmas shopping in October? Why Black Friday may be too late this year

I suffer from a condition known as “male brain.” One of the symptoms causes me to think that I can wait until the last minute to do my shopping. Growing up, I remember shopping with my dad at the mall on Christmas Eve. We, along with a large number of other men suffering from the same condition, scrambled to find last-minute gifts for the wiser … Continue reading Christmas shopping in October? Why Black Friday may be too late this year

Kakeibo: The Japanese mindfulness budgeting system

Kakeibo – meaning “household finance ledger” – was invented by Japan’s first female journalist, Hani Motoko, in 1904. Motoko developed this accounting system for Japanese housewives, because, in Japan, the wife traditionally managed the finances of the household and gave the husband an allowance. The Kakeibo system was designed to make the user aware of their spending habits and help the user take control of … Continue reading Kakeibo: The Japanese mindfulness budgeting system

That’s a Yotta cash: The risk-free, lottery-based savings account

Saving cash is an important part of your financial planning. While “cash is trash” and similar headlines are spreading, having cash set aside is important for an emergency or making a big purchase soon. The reason why “cash is trash” has been going around is for two reasons: (1) interest rates on borrowing money is near record lows, and (2) the return on investing in … Continue reading That’s a Yotta cash: The risk-free, lottery-based savings account

Simple Budgeting: The 50/30/20 rule-of-thumb budget

Most budgeting systems are time consuming and complex. The beauty of the rule-of-thumb budget is the speed and simplicity of it. All you need to know is your after-tax income. Once you have determined your after-tax income, you simply allocate it as follows: 50% towards your necessities 30% towards your wants 20% towards your financial goals Next is to define the categories: Necessities, Wants, and … Continue reading Simple Budgeting: The 50/30/20 rule-of-thumb budget