budgeting

How Being Too Open About Money Can Backfire

When something is considered taboo, it’s hard to learn much about it. Money is a good example of this, and discussing it more openly is a good thing. But like most good things, too much of it can backfire. LearnVest explains how being too candid about money can be problematic.


Tough Money Questions Kids Ask, And How To Reply

Kids can ask some awkward questions about money. To teach them healthy financial habits, you want to give them the best answers, but those answers aren’t always obvious. Here are some common money questions kids ask, and how you can best reply to them.


Buy For The Life You Have, Not The Life You Want

Money is a limited resource for most of us, so you want to spend it wisely. Often, we buy stuff that ends up just collecting dust a few weeks later. To curb this kind of spending, make purchases based on the life you have, not the life you want.


Ask 'What Else Can I Spend This Money On?' Before Big Purchases

Making big financial decisions always involves a lot of variables. While translating a purchase price into hours worked is a fine metric, try asking what else you could buy with that money to get some perspective.


Spend Money On Things You Love, Not Just Like, To Save More

The more money you have, the more ways you’ll find to spend it all. To get a handle on your impulsive spending, divide your potential purchases into two categories: likes and loves, then toss out the former.


Find Common Ground To Initiate A Difficult Money Conversation

Whether it’s getting on the same page as a spouse or supporting a friend’s money goals, sometimes a financial discussion is necessary. To start the conversation on a positive note, find some common ground.


You Decide What 'Luxury' Means To You

Frugality can get you far, but you shouldn’t feel guilty for indulging in a luxury that actually improves your life. However, you have to define what “luxury” means to you. Nobody else can do that.


Create Your Budget With Long-Term Life Goals In Mind

When budgeting money, most of us assume the point is simply to pay our bills. However, if you set out to make your budget with goals for what you want out of life in mind, you can use your money more effectively.


Consider A Month-Long 'Money Diet' To See How Savings Add Up 

Money challenges might not work for everyone, but they can teach us something about our financial habits. Consider a month-long “money diet” to see just how much your savings add up.


Set A Fixed Fuel Budget And Save The Excess When Prices Go Down

Petrol is a difficult expense to budget for, since its price fluctuates often. To make your budget more stable (and save some cash along the way), make petrol a set expense. When the actual cost is lower than that, save the rest.