Budgeting – a little pain for a lot of gain

Budgeting – a little pain for a lot of gain

A budget is simple in theory. Spend less than you make and you’re good. Spend more than you make and you’ll end up like Greece. The devil is in details. I’m going to tell you step by step exactly how to put together a budgeting plan that’s tried and tested...
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How Mental Accounting is Making You Poor

How Mental Accounting is Making You Poor

When we mentally account, we earmark money to be spent for certain things ($100 for groceries, $50 for gas, etc). This leads to us making all sorts of wacky decisions that don’t make sense. Consider the following scenarios presented to students in a study: Scenario one: Imagine that you have decided to see a play...
How to make your own habit loops

How to make your own habit loops

We’ve talked about how brushing your teeth can make you rich and what Starbucks can teach you about spending less, but thus far, I haven’t talked about things like budgeting, stocks, bonds, ETFs, interest rates or anything vaguely involving financial terms. The reason for that is simple, it doesn’t matter. Not at this point anyways....
What Starbucks can teach you about spending less

What Starbucks can teach you about spending less

I really respect the people who work at Starbucks. Dealing with the daily hordes of under-caffeinated control freaks ordering their Extra Hot Grande Triple Shot decaf with sugar free vanilla, extra white mocha, no whip, no foam, extra chocolate drizzle marble mocha macchiatos is no easy task and requires a special kind of patience along...
How brushing your teeth teaches you how to be rich

How brushing your teeth teaches you how to be rich

After World War I, the United States of America underwent a period of growth from 1920 to 1929 that saw it become the wealthiest country in the world. Production of the Model T hit its stride, the Jazz music gained in popularity and Babe Ruth begin his 15 year Yankee career. At the same time,...