Author- Leighton Lindstrom
Americans are not saving enough. Despite low levels of unemployment and what looks to be one of the longest economic expansions in US history, many still lose sleep at night over a lack of emergency funding.
Most people would not complain if they got a big tax refund. After all, who doesn’t love free money?! It’s easy to think about a check from the IRS as “found” money and plan a shopping trip accordingly. However, getting a rather large check is not actually as beneficial as you might think.
Big tax refund = LOSING money
Modern advertising tells us, and the Joneses next door make us feel like we NEED a bigger home, nicer clothes, fancier vacations, luxury vehicles, and a fatter paycheck to pay for it all. In a society where bigger is better and more is more, can we find the benefit and contentment in simplifying? In particular, can the “less is more” theory apply to our home?
If you haven’t started already, it is time to plan for 2019 and for most people, you can’t just copy what you did in 2018. With the start of a new year come new contribution limits for retirement accounts. These changes are summarized in the table below, of course with a few caveats that are further explained.
Have you ever dreamed of being the next Chip and Joanna Gaines? I know I have. I love the idea of taking a dilapidated house in need of some love and transforming it into a beautiful, lively home. When that entire process is reduced to an hour to fit a television schedule, and the ending is always a good one, it really doesn't seem so hard, right?
There is no shortage of opinions on the financial future of Generation Y, or millennials. On the one hand, you’ll hear that our future is doomed at worst and bleak at best, due to some factors within our control and some without. On the other hand, you’ll hear that it’s really not so bad, that we are more innovative and educated than any generation that came before us.
I’m sure we’ve all given in to the urge to splurge at some point, and most of us have probably suffered the consequences later when our credit card statement arrives. Overspending can derail our monthly budget and put us on the fast-track to being in debt. However, psychologists say there are effective ways to fight this urge.
It probably comes as no surprise to you that one of the main reasons for investing in the stock market is to protect against inflation, which gradually erodes the value of our dollars over time. While keeping your money safely under a mattress certainly protects against market risk, it does not shield you from inflation risk as your money steadily decreases in value.
How long has it been since you accessed your smartphone? An hour? 15 minutes? Maybe you’re using it right now to read this blog post. With the advanced capabilities of our smartphones today, it’s no wonder we spend several hours a day using our mobile devices. We use it to count our steps, help us navigate, edit photos, deposit checks, among many other tasks.