One big lesson we learned from the housing crisis: Don't buy more home than you can afford. There are a handful of rules for figuring out what that amount is, but this one considers the additional costs, beyond home price. With this rule, all of your housing-related expenses should be no more than 25 per cent of your gross income.
If you're trying to get your finances straight and you're completely intimidated with the work ahead, take it one step at a time. Commit to just fifteen minutes of financial literacy a day.
There are a lot of ways to calculate how much money you need to save to retire. Once you reach retirement, though, a lot can influence how long that money lasts, including the year you retire.
The bandwagon effect is the tendency to believe a decision is good for us just because it's a decision everyone else makes. When it comes to money, it's easy to jump on the bandwagon effect, especially when it comes to buying a car.
Last year, I wanted to write a book. It seemed like an impossible task. But I figured, "if I can write a long blog post, I can surely write one chapter," so I took it one chapter at a time. Before I knew it, I finished the whole thing. Small actions made all the difference and our finances work the same way.
You don't learn everything about money at once. Most of us take a series of steps in the right direction until we finally feel in control of our finances. If you're not sure what steps to take, Credit.com has a monthly guide to help you get started.
Hump day (AKA Wednesday) is arguably the most boring day of the week. So why not liven things up by grabbing one of these nifty online bargains? Deals that caught our eye this week include: get 20% off select products at eBay, Back To School deals from Officeworks and Microsoft, get six months of free Netflix via Telstra TV.
If TV manufacturers can be believed, curved panels are capable of drawing the viewer into the image in a way flatscreens don't. While once exclusive to cashed up videophiles, the technology is finally becoming affordable to mainstream consumers. At the introductory price of $749, the Kogan 55" 4K Curved LED TV is the cheapest we've seen by a huge margin. Let's take a look at the specs.
The sooner we learn about money, the more time we have to develop solid financial habits. An pocket money is a good opportunity to teach kids how money works. Over at the Penny Hoarder, one father explains how he uses an "allowance contract" to teach his kids to negotiate salary.
The snowball method is the best way to pay down your debt. If you're sceptical and want to see how it will work, this spreadsheet will calculate exactly how long it will take to be debt free.
It's hard enough to stick with goals you want to accomplish, but sometimes we make goals we're not even thrilled about in the first place. We set resolutions based on what we're supposed to do, or what others think we're supposed to do, rather than what really matters to us. This makes it nearly impossible to stick to the goal.
I have a little note that I continuously update and save (using Evernote) that's full of little tips and strategies that I learn about or think about and want to include in a post at some point. Eventually, I wind up with a big collection of them. Here are eight of those ideas, little strategies for shopping so that you'll spend less money and wind up with fewer things that you don't really need.
There are nearly limitless ways to make money in your spare time. If you want to get a better job, though, make sure that your side hustle is helping you get there.