Blog

Home / Blog
How To Kick Spending Habits Permanently

How To Kick Spending Habits Permanently

Savings
I have a copious addiction to good caffeine. It's a luxury I have allowed myself and accounted for in my budget. On average, I buy about 3-5 cups of coffee, instead of getting them for free at my office. This basically amounts to an extra $20 a week that I could easily be saving and investing. In your day-to-day life, what are the biggest spending habits and triggers causing you to lose large amounts of money over the long-run? Again, this goes back to documenting all of your spending on a monthly basis. Stop Your Spending Triggers Paul, what is a spending trigger? Glad you asked. A spending trigger would be something like having a bad day at work and immediately going for some retail therapy. These spending habits are…
Read More
Why You Need To Know Your Net Worth

Why You Need To Know Your Net Worth

Money Management
I want to start off this particular blog post by stating your net worth is more important than your income. I'm going to say that one more time and enlarge that for dramatic effect and emphasis somewhere below. Before that, let's dive into what exactly constitutes your net worth.   Defining Your Net Worth Your net worth is honestly quite easy to calculate. It is the summation of all of your assets- the value of your real estate properties, cash on hand, investment accounts, retirements accounts, sellable assets- and then you'd subtract from that valuation all of your debt and liabilities. The end number is your current net worth. Now, if you recently graduated college, there's a good chance that your net worth may actually be in the negative. Don't let…
Read More
8 Financial Tips for Millennials

8 Financial Tips for Millennials

Money Management
I was born in the early 90's, so I am a millennial by every definition in the book. But, I don't identify with many of the negative stereotypes that are associated with millennials in the media. Entitled. Lazy. Compulsions to spend. I suspect a large number of you feel the same way and have embraced the path towards financial freedom. Millennials are given the short end of the stick, dealing with an incredible amount of consumer and student debt, while facing an uncertain future as we are nearing a decade of one of the strongest bull markets seen in American history. We are all looking to take extra steps and precautions to get just that much closer to our financial goals. Here are my top financial tips for millennials. Best…
Read More
Five Simple Financial Steps To Take In Your 20s

Five Simple Financial Steps To Take In Your 20s

Money Management
Currently, I'm still in my early, mid-twenties and I work actively everyday to ensure that I am taking steps towards financial wealth and empowerment. Growing up, I was always conscious of my money situation and thus felt that I was more aware of where I was placing my money. Even when I spent money on traveling, it was always after working extra shifts and putting time to making more money to afford those trips. Sure, others may have had it easier, with no worries in the world about their money situation. But, I looked at my situation as a blessing. Having a chip on my shoulder allowed me to develop more quickly in multiple areas of my life, other than just my personal finances. Always remember, if you haven't been…
Read More
How Much Should You Be Saving?

How Much Should You Be Saving?

Financial Independence, Savings
Break It Down Monthly There's a variety of different rules and savings structures out there. Two very common saving allocations are the 50/30/20 rule and the 80/20 rule. The 50/30/20 rule advocates for utilizing 50 percent of your post-tax income towards addressing all of your necessities. This will include everything from rent, groceries, utilities, etc. 30 percent of your income will be diverted towards extra desires-dining out, entertainment, date nights, and the like. 20 percent of the rest of your income will be pushed into savings and investment accounts. The 80/20 rule is simply having 20 percent of your post-tax income be directed towards savings and 80 percent will be used for all of your other spending needs. In the spirit of aggressively saving/investing towards reaching financial independence at an…
Read More

January Goals 2018

Uncategorized
I'll be doing this monthly to track my current progress and help myself stay on top of my monthly habits. The monthly updates will consist of different life and blog goals that I set myself for the month.   Life   Cook most of my meals. Failed. My little sister came into town and I had another friend leave the Bay Area. Needless to say, I spent a bit too much money this month on dining out. While I definitely love eating out with friends, this is something I have to crack down on this month. Ah, well. I did buy more Tupperware so I can cook and save more meals at a time though! Woo! :) Work out three times a week. Failed. I used to workout 4-6x times a week,…
Read More
How To Spend Like A Millionaire

How To Spend Like A Millionaire

Financial Independence, Money Management
What are you imagining? Exuberant amounts of cash flying through the air in the club or money covered champagne bottles being passed around a yacht?     It may shock you to find that the modern-day millionaire are the most frugal. Lebron James, a multi-millionaire athlete and businessman, regularly gets jabs thrown his way by his friends for being so frugally minded despite having a net worth of $400 million dollars. "I still got Pandora with commercials."  While it may be extreme to some, I find the discipline admirable. And, discipline coupled with strong habits are what have built up a large number of millionaires. Through a 5-year study conducted by Thomas Corley on millionaires and their daily habits, we now have insight into the inner day-to-day workings of what…
Read More
Money and Politics: What Your Spending Says About You

Money and Politics: What Your Spending Says About You

Money Management
I know, I know. There's enough politics in the American life and you don't want to hear about it on a personal finance blog. Regardless of how you feel about politics in money, how you spend your money is strongly politically driven, whether you believe it or not. I was reading and listening to the correlation between our psychological and political beliefs are reflected into our spending habits. It was interesting to learn about, so I felt it would be worth passing onto y'all!   Coffee Shop Underdogs Americans have always been political since our birth as a nation. How we spend our money is no exception to the rule. We choose which causes to support, and sometimes which causes to ignore. Neeru Paharia is a marketing professor at Georgetown University…
Read More
5 Things To Do While You Invest

5 Things To Do While You Invest

Investing
  Investing your money is crucial to the success of your financial future. We are currently almost at the decade mark of an amazing bull-run, which may make some soon-to-be investors skittish to jump into the market. There will never be a better time to learn and start understanding the game of investing than right now. Nothing is gained by staying on the sidelines. A down-cycle could start tomorrow or this bull r un can continue for the foreseeable future. But, if Warren Buffett can't time the market, neither can you. Jump and get your feet wet! Here are some things to keep in mind and do WHILE you invest:     1. Create A Balanced Budget (Understand Your Cash Flow) A good investor is a consistent investor with a game plan…
Read More
Get Started With The Personal Finance Basics

Get Started With The Personal Finance Basics

Basics, Financial Independence
You Are Already Further Than Before Getting started in your personal finance journey is overwhelming. Everyone felt the same way the first time diving into their journey. It feels great to keep in mind you are already miles ahead of where you were before just by being here and doing your own research! Personal finance involves juggling so many different areas of your life. Budgeting, saving, investing, planning for the future, enjoying the present, it really is a do-or-die skills for your quality of life.   Budgeting Everyone recognizes the need for a great budgeting system. Budgeting is the most basic level of personal finance and building a proper budget is crucial to the foundation of your financial growth. I recommend tracking all of your incomes and expenses. Categorize your…
Read More