It’s pretty easy to rattle off your monthly expenses: Rent or mortgage payments, utility bills, Internet, student loan payments, car payments, food, gas. On top of paying those bills, I also recommend setting aside money in your emergency fund so that a surprise doesn’t cause you to fall behind on those bills. But if you look through your last year of credit card statements, you’ll see a whole … [Read more...] about How A Revolving Savings Account Can Help You Budget Better
Budgeting
The Building Blocks of Financial Security
Every path to financial security starts somewhere. Some of us had a leg up, in the form of debt-free college educations or trust funds. But lots of us didn’t. As you’ve probably read, fewer than half of Americans have enough money saved to cover a $1,000 emergency. If you don’t have an emergency fund or if you’re afraid to look at your credit card balance, you’re far from alone. The good … [Read more...] about The Building Blocks of Financial Security
5 Ways to Build Wealth in 30 Minutes or Less
You’re ready to get your finances organized and begin making your money work harder for you, but knowing where to start is difficult. It doesn’t help that financial planners have traditionally given clients a novel-length report of findings and recommendations complete with complicated charts and graphs. Taking a stack of papers home and trying to remember what you were supposed to do is … [Read more...] about 5 Ways to Build Wealth in 30 Minutes or Less
How Simplifying Your Life Can Save You Mental Energy (and Money)
Any time you move to a new city or travel for awhile, it gives you a new perspective on your life. I just returned from doing a bit of both. A few months ago, I finished my lease on my apartment in Austin, sold off much of my stuff, and put the rest in storage. I spent a month each living in Santiago, Chile; Lima, Peru; Medellin, Colombia; and Mexico City as part of a Remote Year program, and now … [Read more...] about How Simplifying Your Life Can Save You Mental Energy (and Money)
The Marie Kondo Approach to Decluttering Your Budget
I’ll admit that I don’t have the patience to create a detailed budget myself (I practice “reverse budgeting” — make automatic contributions into savings, retirement, and investing accounts, set aside money to pay all my bills, and spend freely out of what’s left). It’s a system that works for many people, but sometimes you crave a more detailed way to plan. Enter Gen Y Planning’s Associate … [Read more...] about The Marie Kondo Approach to Decluttering Your Budget
How to Help Your Family Financially Without Going Broke
As Gen Y gets older, we’re reaching financial stability in greater numbers, and that means that the family members who helped us out financially for so long may need our help now. Baby Boomers are getting older, and that can come with increased medical expenses, or even retiring in a less secure position than they thought they would. I work with many clients who provide monetary support to … [Read more...] about How to Help Your Family Financially Without Going Broke