18 posts found under,

Saving

What would you do if you needed to pay $500 upfront for an emergency today? Could you do it? How would you pay for it? According to a survey by Bankrate, 63% of Americans do not have enough in savings to cover a $500 emergency. To pay for it, they said they would cut back spending in other areas, charge the expense to a credit card or borrow funds from friends and family. When I look around me in London, I wonder whether the same could be said of [...]

Waking up early, finishing late, deciding what to eat for lunch, learning the ropes of your role and a paycheck. When you start your first full-time, permanent job you’ll experience all of these. But, there’s one experience that 20-somethings should be most excited about: earning compound interest. Compound interest occurs when, first, you earn interest on your savings and then earn interest on the interest you just earned. Similarly, when you ta [...]

For most people, weddings are staggeringly expensive. Of course, no one wants a crap wedding...so is it possible to tie the knot in style without breaking the bank? The answer is yes: Here is a guide to get you started, with a complete budget breakdown and loads of great tips. The following is a guest post by Urs Suess. He and his wife Gemma got married in the summer of 2016 for under $6000. The wedding occurred in the UK, and had about 60 guests [...]

Why do we sometimes feel bad when our friends do well? Natural selection. Evolution. Feeling inadequate when one of our friends upgrades to a bigger house is just the start of our envy. In doing so, we’re participating in ‘keeping up with the Joneses’. Keeping up with the Joneses was first referred to in a comic in 1913 which depicts the social climbing McGinis family, who struggle to ‘keep up’ with their neighbours, the Joneses. Competition can [...]

We read a lot of stories about how ‘less is more’ and how a minimalist lifestyle can be just as rewarding as (or more rewarding) than owning a big house, nice car and buying luxury products regularly. It seems too good to be true, a little too new-agey and easy to reject outright, but is there any truth to these claims? Can we really enjoy a life where we buy fewer things, consume fewer things and spend less money? And, if yes, why are so few of [...]

A coffee first thing in the morning after a bad night of sleep. A packet of mints after that burrito you bought at lunchtime. An online purchase during the latest Amazon sale. Spending money isn’t wrong. We can’t avoid it, but what’s worrying is the alarming number of us who don’t realise how we’re spending our money. With phrases like ‘retail therapy’ and shopping now a common leisure activity, it’s no surprise that we’ve developed a desire to s [...]

If you Google “best personal finance books” or something similar, you will not find an authoritative answer. Sure, plenty of publications and blogs have their lists, but these are highly subjective. So how did we go about choosing the 10 “most popular” books we have summarized? There are roughly 50 books that are regularly reviewed or referred to in the personal finance blogging world. Each of these books attempts to provide the fundamentals of s [...]

Saving money can be tough. You might feel like there's no way to cut your expenses or increase your income. You decide instead to commit to tracking everything you spend. After a month or so of tracking your spending, you find that you can create a small gap between your expenses and income by forgoing some expenses that gave you little contentment anyway. You repeat this behavior the next month and the month after. Slowly but surely you've creat [...]

We all know how to save money: spend less than we earn. We all know that we should be saving more and regularly, but why do so many of us struggle to follow through? Discipline and willpower play a role, but even more powerful is providing a reason to save money. Whether it's a goal to save up for something in particular instead of buying it immediately on credit or trying to clear our debts, having a strong enough reason can mean the difference [...]

Valentine’s Day is almost upon us again and every year I struggle to embrace the ‘holiday’. On a material level, I reject the idea because you shouldn’t need a particular day of the year to express your feelings. That said many still use it as an opportunity to ‘give’ something to their partner or loved one. In recent years it’s become equated with buying something. If you have a fair amount of money to spend then buying chocolates, flowers and d [...]