Your Short-Term Bucket
We’ve talked about dividing up your future financial needs into 3 Buckets: Short-Term, Mid-Range, and Long-Term. Your assignment was to write out a list of expected financial obligations that will occur in the future, and then group these obligations into these 3 Buckets. The goal for this assignment is to attempt to actually prepare for the future instead of constantly reacting to the present. Wouldn’t it be cool if when that car ...The Future is NOW! A further explanation of Your 3 Financial Buckets
I always thought that saying was stupid. “The Future is Now!” That doesn’t make any sense. The future happens later, and right now you have creditors to pay. So you should take care of your old debt before considering the future, right? Those bills are sitting on your counter NOW! Those collectors are calling NOW! That other investing stuff comes later, right? Absolutely wrong! The problem with ...Are YOU Spending Wisely, or Emotionally?
In the article, “The Cost of Whistles”, I shared with you a story about how Benjamin Franklin once bought an overpriced whistle from a peddler at a fair, and regretted it all his life. What Franklin was trying to teach us with this story was that purchases based on emotion – desire & want – are almost always bad purchases. Whenever you emotionally pass the point where you can no longer “walk away” from ...Can You Get Out Of Debt By Eating Better?
In other articles on this website, we’ve talked about the need to watch out for “Latte Factors” (A phrase coined by David Bach concerning the tendency of many people to “automatically” spend money everyday on something they don’t really need). The point Bach makes is that most financial troubles can be solved by making better spending decisions. In this article, we’ll look at another way to “automate” yourself to success. One common “Latte ...Is This Necessary? Evaluating Your Everyday “Latte” Purchases to Save Money
During World War II, when there was a nationwide program of gasoline rationing, there were signs posted along highways saying, “Is This Trip Necessary?” reminding people to not waste fuel. As we begin to get control over our finances, maybe a good sign to carry with us is one that says in bold letters, “Is This Purchase Necessary?” In his book, The Automatic Millionaire...S.P.F. Your Debt – A Formula to Pay Off Your Debts Without Getting Burned
Too many bills? Credit scores suffering? Credit payments taking every last dime each month? You try to pay a little extra on each account, but the balances don’t seem to ever go down? How can you possible get out from under this dark cloud of debt? Well, don’t fret. Sunnier days are on their way, if you can figure out a good way to start getting rid of some of your ...Latest Articles
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