Helping normal people with normal incomes reach financial independence.
Sometimes it’s easier to just put your bills on auto-pay instead of manually paying them each month. But putting your bills on auto-pay can negatively change your relationship to money and can make saving money harder than it should be. Here are five reasons why ditching auto-pay improves your relationship to money and puts you … Read more
Many personal finance websites advise spending 50% of your income on necessities, 30% of your income on discretionary spending, and 20% of your income on saving and investing. The 50/30/20 budget is frequently touted as a one-size-fits-all solution, but the reality is that this budget is not at all realistic or appropriate for most earners. … Read more
Doing a no-spend challenge — cutting out all unnecessary expenses for a specific period of time — is important for resetting your spending habits and boosting your progress toward your financial goals like contributing to your Roth IRA or buiding your emergency fund. However, there are several mistakes that can sabotage your no-spend challenge and actually harm your relationship … Read more
Some people refuse to have a separate emergency fund because their money can grow faster in an investment or retirement account than in a high-yield savings account. They think that they can just use their credit card and sell off their investments to pay off their credit card debt. However, relying on your investments to … Read more
Many people do not believe they need an emergency fund because they think that a credit card should cover them in case they experience an emergency, and they believe that they will be able to get back into the workforce soon enough for their credit card debt not to matter. But replacing your emergency fund … Read more