Jeep suicide, savings accounts, inconsistent income, family budgeting and more.
Mr. Money Mustache — Mr. Mustache admits his title is a bit “insensitive.” He also maintains that this case study, regarding a young man who is finally getting his finances in order – except for the expensive Jeep, is a great lesson we can all learn from.
The young man has over $84,000 in debt. But as he says, to Mr. Mustache “I have cut down my stupid spending drastically. I embrace your challenges …” He is now living the “Mustachian” way – paying down debt and saving money. Read the post. It’s engaging and informative.
Mom and Dad Money — Matt “regularly” hears people complaining about savings accounts. They feel that their money is just sitting there, not earning much for them. It’s true. Savings accounts don’t earn a bunch. But Matt believes they play a valuable role.
He provides “five reasons why I love savings accounts and you should too.” The second one is: “Certainty in an uncertain world.” If you have an emergency expense, you absolutely know that you can access your money. That should, at the very least, provide some comfort.
Stefanie O’Connell — If you don’t earn a regular paycheck or consistent salary, budgeting can get difficult. Stefanie understands this because “I’ve never had a definite (or even approximate) sense of how much money I’m going to make in a given year.”
If you’re in the same boat, this post will certainly help. She provides four useful tips. The fourth one is: “Use an App.” We at Debt.com like PowerWallet. It’s free and you can track your spending and pay your bills on time. Check out Stefanie’s other tips.
Suburban Finance — Jenn says “The less involved the family is with finances, the less they will understand it.” That’s true. And to make matters worse, many parents don’t know enough about personal finances to teach their kids. As a result, their kids suffer from money woes when they become adults.
You can solve this dilemma by reading this post and including your kids in the budgeting process. Jenn says get them involved by being “open and honest” about your financial situation. Explain the good and bad about your family circumstances and they’ll start learning.
Money Talks News — Emotional spending is a problem for many people. And when a situation provokes intense emotions, such as a funeral or wedding, people often overspend. As far as funerals, Michael says “the worst time to shop for a funeral is after a loved one dies.
Prior preparations for arrangements help “avoid unnecessary expenses.” Other things people overspend on include college, workout gear and more. Read this post and begin saving more money.
Article last modified on October 27, 2016. Published by Debt.com, LLC .