Tax Refund: How to Make the Most of Your Extra Money
It’s February, and soon you’re getting a tax refund from Uncle Sam. According to the IRS, the average tax refund is $3,120, and most people receive the money within three weeks of filing their returns. That’s a nice chunk of extra money. While it may be tempting to buy a new car, splurge on latest gadgets, or upgrade your furniture or wardrobe, it’s a better idea to spend that money wisely so you can achieve financial freedom, enjoy peace of mind, improve your quality of life, and save more money in the long run. Much of your financial and mental well-being depends on how well you manage your money. Here are 11…
How to Stop Impulse Buying: 12 Tips to Curb Your Spending and Shop Intentionally
The enemy of our monthly budget and simple living is impulse buying. Retail marketers are trained in sneaky tactics that influence our urge to buy. Our personalities, mindsets, and moods can also lead to impulse shopping. In an article in Psychology Today, psychologist Ian Zimmerman said impulse buying is often connected to anxiety, unhappiness, and the desire for social acceptance. No matter your trigger, it’s important to become more intentional about your spending habits. Imagine how much better off your finances would be if you saved every dollar you carelessly spent on stuff you don’t really need. Furthermore, impulse buying prevents you from creating good and lasting financial habits. If you…
How to Stop Living Paycheck to Paycheck
Living paycheck to paycheck is a common reality for so many people these days. If you are working like crazy to support yourself and your family, and still barely getting by, you might feel better to know that you are far from alone. As many as 78% of American full-time workers are living paycheck to paycheck to make ends meet, according to a 2017 survey done by CareerBuilder.com, a leading job site. According to this same survey: Nearly one in 10 workers making $100,000+ live paycheck to paycheck More than 1 in 4 workers do not set aside any savings each month Nearly 3 in 4 workers say they are…
15 Possible Reasons Why You Are In Debt
Over the last decade, more and more people have found themselves deep in debt. You might be one of them. While there are some obvious reasons for you and others to be in debt, there are also many other reasons that might have contributed to your current financial status which could have been avoided. Being in debt is no fun. It’s highly stressful, and embarrassing, too. It also affects your relationship with your loved ones, and creates chaos in your family life. Learning and understanding why you have debt is the first step to controlling it and, ultimately, getting rid of it. If you don’t understand your reasons for having…
7 Meaningful Ways to Spend Your Money
Spending money can be fun. The mere thought of spending money can bring excitement to most people. And when it comes to spending money wisely in a meaningful way, saving and investing money for the future is what comes to our minds first. That’s, indeed, the most meaningful and practical way to spend your hard-earned money. But that’s not the only way. Not everyone is fortunate enough to have some money left after satisfying all their needs. Then, most of them who are able to save some extra money either by trimming expenses or increasing their income, usually spend their money on unnecessary things that neither add value to their…
52 Easy Ways to Save Money and Build Wealth
Many people feel overwhelmed about how to save money. While spending money is something we all can do very well, saving money needs careful thoughts, planning, efforts, and some changes in our habits. Not that many people find this exciting. About 65% of Americans save very little money or nothing at all. About 1 in 5 Americans or 20% of American people are not saving any money from their annual income. Some people think it needs a lot of sacrifice to come up with some extra money to save. But in reality, saving money doesn’t always need sacrifices. More than sacrifices, it needs understanding of your finances and a little…
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