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

Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?

So called financial gurus tell you that if you want to be rich, quit eating avocado toast and drinking Starbucks. Admittedly, this does remove expenses that may add up over time. However, that frugality alone won’t make you “rich.” Rather, understanding the ideas behind the “avoid paying $10 for avocado toast and $5 for coffee” is what will make you handle your money better and … Continue reading Understanding opportunity cost: How much does that avocado toast and Starbucks actually cost me?

Passive investing 102: What is passive investing?

Pas-sive – not reacting visibly to something that might be expected to produce manifestations of an emotion or feeling. Dictionary.com In most areas of life, being active is seen as the optimal choice. “Pursue your dreams.” “Take life by the horns.” “Don’t sit back and wait for life to happen to you.” However, when investing, being active can be a costly choice. Common Misconceptions: Often, … Continue reading Passive investing 102: What is passive investing?

Passive investing 101 – Surviving and thriving in chaotic times

During these turbulent times it is easy for investors to make poor decisions, such as changing your investing strategy. In their recent newsletter, Edward Jones said that the “hardest part of investing is the one we have the most control over – our emotions.” Historically, people make the wrong investment decisions because they act emotionally. When the market crashes, the best option is to buy … Continue reading Passive investing 101 – Surviving and thriving in chaotic times

Money matters 101 – Setting financial goals and rolling with the punches

I found that if you have a goal, that you might not reach it. But if you don’t have one, then you are never disappointed. And I gotta tell ya . . . it feels phenomenal!” ~ Peter La Fleur Unlike the advice of Peter La Fleur in “Dodgeball,” you need to have financial plans to guide your life. Has your life taken a left … Continue reading Money matters 101 – Setting financial goals and rolling with the punches

Investing 103 – I want it that way: How to invest with apps – Robinhood

If you decide to invest on your own, there are a number of apps with commission-free and low cost options. Here, I will (1) describe the apps; (2) describe the pros and cons of each app; and (3) identify which type of investor each app is best for. Also, I will provide my referral link for each app. If you want to try an app, … Continue reading Investing 103 – I want it that way: How to invest with apps – Robinhood

Investing 102 – Where do I begin?

Once you understand the basic concept of investing – your money makes money for you – and decide to begin investing, where should you start? Different financial experts have different opinions on this, of course. First, most agree that you should find a financial advisor. Despite costing fees, sound financial guidance will save you far more than the cost of the advisor. Second, you should … Continue reading Investing 102 – Where do I begin?