For all who are feeling like losers after moving back in with their parents, let me assure you that’s probably not the case, so long as you’ve got a plan and a willingness to make it a home, however temporary.
This phrase, “you only live once” or YOLO is showing up in advertising all over the country. It’s meant to encourage people to get out and enjoy their lives. It’s meant to inspire people to try new adventures, to love harder and play more often. However, YOLO does not mean "ignore your finances and spend freely." YOLO does not give you an excuse to accrue debt in the name of fun.
If any of these items sound familiar, you may want to change your money habits ASAP.
There’s a lot more to salary than just salary. You need to take a look at the total compensation package to determine how good an offer really is compared to another.
Lots has been written about how the various generations handle money. Millennials have been traumatized by economic disaster; Gen X isn't saving for retirement; and baby boomers are spending their children’s inheritance. Maybe these things are true and maybe they aren't, but it comes down to this: Everyone needs to manage debt, save money, and plan for the future. Without an understanding of common financial terms, you can't do any of that — regardless of what year you were born.
I used to worry about money. Recalling those carefree (read: boring) bachelor days, it seemed an occasional meal out, movie ticket, or round of weekend beers was about all my wallet could muster after covering rent and regular bills. Yet months on, things are working out, and I’m actually doing all right financially.
There are instances when breaking out your credit card is the smarter thing to do.
Do you ever look at the people around you and think, “Wow these folks are so disorganized; it’s no wonder their finances are a mess?” You know the people I’m talking about. You go to their house and they misplace their remote, their keys, and their credit card in a 5-minute timespan.
Have you ever looked in their bill basket? I’d be willing to bet that it’s a mess. How do I know? Because I used to be one of them.
When I was in $30,000 of student debt, my financial life was a disorganized mess. Don’t get me wrong, I always paid my bills on time, but I wasn’t always sure what my balance was...
An email reaching out is very effective, but you have to own it like you would in an interview, and that takes a little preparation, research, and knowhow.
Sometimes there must be a sense of urgency to accomplish a goal. Finding a friend or family member who needs to save money, pay off debt, or start an investment account is the best way to implement and stick to a financial goal, especially if you’ve been procrastinating or don’t understand how to begin. There are several ways that this approach can work...