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I've never met a budget that I couldn't coax a few extra dollars from - and I'll bet that you can do the same. For instance, you're probably buying more minutes and more cable channels than you use. Oh, and how many black skinny jeans do I count in your closet? You have enough money, just the wrong priorities. ”
After two decades of personal finance reporting, I've heard every excuse in the book for not saving money. That said, none of them really hold up - at least over the long term. ”
To bring down your credit card balances, write down the benefits of reducing your debt. No more gnawing feeling that you're throwing money away, perhaps. More money flowing to other financial objectives. Then consult the list when you have doubts. ”
Just because someone will lend money to you doesn't mean you should borrow it. ”
People who are passionate about what they do reach financial comfort and wealth more often than those who are not. That argues for doing one of two things. Finding your passion and pursuing it. Or becoming passionate about what you're already pursuing. ”
No one anticipates divorce when they're exchanging vows, and it can be devastating emotionally and financially. To ease the financial side of the blow, you need to maintain your financial identity in your relationship. That means having your own credit history - you need your own credit card - and your own savings and retirement accounts. ”
The older you are when you buy an annuity, the shorter your life expectancy will be - so the greater a monthly paycheck the same sum of money will buy you. When interest rates are higher, the size of the paycheck for the same sum of money will rise also. ”
Older couples bring obligations such as support payments and debt as well as decades of financial experience to a marriage. ”
People with financial plans are much more likely to feel prepared, even in tumultuous times. They're more likely to feel that their dreams and goals are secure. And, oh yes, they do actually save significantly more. ”
Turning a blind eye to your finances always brings trouble. When you let the bills or late notices stay in their envelopes, you're making matters worse. When you finally have to deal with the problem - believe me, you will eventually - it will be exaggerated because you didn't take action. ”