Tag Archives: Money Monday

Money Monday: How to Make Those Financial New Year’s Resolutions a Reality

“Did you make New Year’s resolutions this year? Unfortunately, there’s a pretty good chance that any resolution we make won’t be kept. This can be particularly true of financial goals, which can often feel confusing and overwhelming. Here are some steps to help make those financial resolutions into a reality.”

Resolutions New Year

“1) Set SMART goals. When we set a vague goal like “save more money” or a seemingly insurmountable one like “pay off all debt,” we’ve already set ourselves down the path to failure. Instead, you want your goal to be SMART: specific, measurable, attainable, realistic, and time-sensitive. Rather than “save more money,” a SMART goal might be to save an extra $5,000 for emergencies by the end of the year…” (Carter, Erik. Forbes. “How To Make Those Financial New Year’s Resolutions A Reality.” https://www.forbes.com/sites/financialfinesse/2018/01/07/how-to-make-those-financial-new-years-resolutions-a-reality)

Read the entire Forbes article here: How To Make Those Financial New Year’s Resolutions A Reality”.

Money Monday: 5 money mistakes to avoid in the new year

New Year’s resolutions can take a lot of effort to put into action.

It can be easier, though. Just stop doing CNN’s suggested five financial things and you’ll have more savings, smarter spending habits and a secure identity in the next year.

Resolutions New Year

1. Stop saving your leftovers

2. Stop using painless payments

See more here.


Money Monday: New Year, New Financial Resolutions

It’s the start of 2018, and a great time to make financial resolutions!

Need to save more? Check out my posts on saving (here), with topics on easy ways to save, changing your spending impulses, and saving for a house down payment, just to name a few.

If you’re delving into the life stage of buying a house, find all sorts of real estate financial tips and advice here.

For advice on spending money responsibility, click here.

Check out all of my Money Monday posts!

Photo from Pictures of Money

Money Monday: Tips on changing your financial impulses

Behavior hacks to avoid your worst money impulses, by CNN.

“Here are the biggest money challenges facing us right now…and how to get yourself to do the things you already know you should do.” “From Dan Ariely, a behavioral economist at Duke University and the author of the new book, written with Jeff Kreisler, “Dollars and Sense: How We Misthink Money and How to Spend Smarter.”

Picture from www.ccPixs.com

Problem 1: Invisible savings

Behavior hacks:

“Talk about what you’re saving, early and often. Yes, we’re also terrible at talking about money, but young people are more likely to do it than older people. The more we make visible what we are saving the better we’ll be at understanding it and comparing it, according to Ariely.”

Problem 2: Painless payments

Read the behavior hack and more on the article here: “Behavior hacks to avoid your worst money impulses“.

Money Monday: Holiday Spending

Holiday Spending: 5 Ways To Reduce Financial Stress

  1. Discuss what the holidays mean to you and your family. Talk about your values and consider alternatives to unbridled spending.
  2. When you are dealing with extended families, set reasonable, manageable, and realistic boundaries.
  3. Instead of making the holidays a time where breaking the bank becomes the norm, make it a time to do meaningful activities that don’t revolve around spending unnecessary dollars.
  4. Create your holiday budget in January. Then you can divide the amount by twelve months and begin to set it aside monthly.
  5. Focus on celebrating what is most important to you and your family — not on the financial aspect.

This tips are from Forbes. Read more on this advice from Forbes here: “Holiday Spending: 5 Ways To Reduce Financial Stress.”

Money Monday: How to stop overspending

“Here’s what financial experts recommended to help get out of the revolving door of overspending:

Personal finance and money

“Face the spending music

“It’s not easy, but step one is to take a hard (and honest) look at all your spending.

“That means identifying everything you spent money on in the last few months: housing, food, gas, entertainment, clothes, drinks…everything.”

“Find a budget that works for you

“Once you know how much money you are taking in and where it’s going, it’s time to create a budget.” (“How to get out of the overspending trap”. Kathryn Vasel. CNN.com. http://money.cnn.com/2017/11/30/pf/credit-card-debt-pay-down-debt/index.html?iid=SF_LN)

Read more of this article at CNN.com here: “How to get out of the overspending trap”.

Money Monday: Saving enough for a house down payment

“Saving up a down payment to buy your first house can seem a pretty daunting task. However, getting a down payment together is not as difficult as you may think — if you go about it the right way.”

Personal finance and money

There are a few steps you need to consider, from CNN:

  1. How much house can you afford? You typically need to keep it below 28% of your pre-tax monthly income.
  2. “Figure out how much you can set aside each month. That will also help you determine how long it will be before you’ll have the full down payment and can start house-shopping.”
  3. Invest it to speed up the process.
  4. Borrow from your 401(k).

Read the full article from CNN here: “How to save enough money for a down payment on a home.”

Money Monday: Americans and Money

When it comes to money, Americans not only want more; they want to manage it better. A new NerdWallet survey conducted by Harris Poll reveals that most folks aren’t happy with the state of their finances and they’re taking steps to change the situation.

Personal finance and money

To see how Americans are dealing with this financial balancing act, NerdWallet commissioned a survey by Harris Poll of over 2,000 U.S. adults conducted online Sept. 12-14, 2017. The results show that most Americans have financial regrets and stressors, but they also have goals and are working to accomplish them.

Americans wish they had done some things differently, with 71% expressing regrets when it comes to money management. Millennials (those ages 18-34 in this survey) are more likely than the two other age groups to have such regrets (83%), according to the survey.

But they are looking ahead: 89% of Americans say they have financial goals that they hope to achieve within the next 10 years, and 88% are taking steps right now to manage their money.

Source: NerdWallet

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