My wife and I used to be broke, heavily in debt, and so far behind, we didn’t even think we could start budgeting. But when you’re broke, the key to getting ahead financially is learning how to budget money on a low income! Budgeting money on a low income starts with prioritizing expenses, cutting unnecessary … Read more
If you’re over 30, you have probably thought about retirement. And then you’ve wondered what the best ways to save for retirement were. Here’s what I’ve learned from saving for retirement for the past 20 years: The best ways to save for retirement are a 401k with an employer match, a Roth IRA and, if … Read more
Trying to figure out how to budget when you don’t have enough money to pay the bills is tough! My wife and I have been there, and we figured out how to budget when you are broke. To budget when you’re broke, identify if you have an income, spending, and/or debt problem. Then prioritize bills, … Read more
There’s nothing worse than having a pile of bills and notices from collection companies and just not having enough money to pay them. Wondering what to do when I can’t pay my bills? If you can’t pay your bills, start by cutting all unnecessary expenses, prioritize bills from most to least important, delaying or reducing … Read more
I still remember when my wife and I were always broke. Luckily, we figured out how to stop running out of money every month. To stop running out of money each month, get on a written budget to track and reduce expenses. Temporarily stop contributions to kid’s college, savings, or retirement plans until you are … Read more
My wife and I have been doing a monthly budget for 10+ years. But I still recall in the early days how those irregular expenses would mess us up, and I remember wondering should I add occasional expenses to my budget? You should budget for all expenses including those which happen quarterly, annually, or even … Read more
Having only 2 family bank accounts is the norm; I get it. But a few years ago, my wife and I decided to try multiple bank accounts for budgeting. Using multiple bank accounts for budgeting allows for a greater level of organization between monthly bills (checking), emergency savings (savings account #1), saving all year for … Read more
The world kids live in these days is different than when I was a kid. Their wants are different, and the technology has changed, so I wanted to compile a list of how to make money as a kid. Here are some of the best ones: For 7-9-year-olds, water plants for neighbors on vacation. Or … Read more
Despite improvements in the economy, many people still struggle to provide for their families. With the typical family being 4 people, the top question is what is the best budget for a family of 4 making 60K? For a family of 4 making $60k a year, plan on: Spending no more than $220/week on groceries … Read more
My wife and I started our emergency fund a decade ago, and it’s provided us a lot of financial peace of mind. Back when we started, we wondered how does an emergency fund protect your wealth? An emergency fund protects your wealth by helping you avoid going into debt to cover unexpected expenses, or cashing … Read more