The thought of going through a huge recession every decade is anxiety-inducing, to say the least, but if the last two recession have taught us anything it’s how incredibly important it is to build healthy finances so you aren’t devastated every time one of these ‘Great Recessions’ pops up. If you’re looking to get your finances in order before the next recession, you aren’t alone. These are the 3 steps you should take to financially prepare for the next recession so you don’t lose all of your money, and can even come out ahead.
Starting to invest in the stock market can seem terrifying since most of what is portrayed about investing is dramatic. There are stock market crashes, extreme swings in stock prices, and investors losing fortunes! Based on this coverage, it’s no wonder you feel so stressed about starting to invest, but if you want to get rich or just simply retire one day, you better start investing. The good news for you is that becoming a successful investor is actually quite simple. With these 3 tips, you’ll be able to open an investment account, develop a super simple and low-stress investment strategy, and feel confident that you can start investing today.
Chances are, you’re in debt. And you aren’t alone. 80% of Americans have debt and are in the same boat as you. Many of these people also fear that they will be in debt for the rest of their lives. But I’m going to let you in on a secret about debt.
It’s no secret, or surprise that one of the top reasons for divorce is finances. Like religion and politics, money is a taboo subject, but unlike religion and politics, many people don’t have in-depth discussions about money until after they’re married. Since each of you has separate bank accounts, separate credit cards, and no need to show each other your loan statements before the wedding, many people don’t find out about their partner’s massive student loan or credit card debt until after they say, “I do.” Coming to the realization that your financial future isn’t what you envisioned right after you make the biggest commitment of your life can put stress on your marriage from the very start. Here are my tips for how to build a healthy dialogue with your partner and get on the same page about your finances before the nuptials.
Have you ever gotten really excited about all of the money you were going to save by making a budget and finally taking control of your spending? Then at the end of the month, after adding everything up the disappointment sets in when you find out that you barely saved any money. I mean you tortured yourself and thought endlessly about every purchase you made! How could this be possible?! Instead of focusing a ton of your time and energy on budgeting and barely saving any money each month, I’m going to let you in on a money-saving trick I just discovered. It’s a lot easier, takes a lot less time, and will save you a lot more money.
The pandemic has exposed the incredible importance of having an emergency savings, but an unfortunate fact about your savings is that you’re losing money with it every year. Don’t go running off to check your account balance; it’s staying the same. The loss you’re experiencing is due to a decrease in purchasing power caused by inflation.
In 2014 I was a newly minted MBA who was ready to take on the world. I thought those three letters after my name meant the money would just come rolling in and I would be wealthy in no time! Boy was I wrong. Since learning this I’ve made a lot of changes to set myself up to build wealth, but I’ve also made several expensive mistakes. To help you avoid making the same mistakes on your personal finance journey as I did, here are the 3 biggest money mistakes I made in my 20s.
When you think of investing, what are the first things that come to mind? Maybe it’s the image of people running around on the trading floor, or a news segment showing a graph of a company’s stock price shooting up or plummeting. No matter what the exact image you picture is, it’s probably something dramatic and panic-inducing. While investing may be portrayed as a theatrical, anxiety-inducing boy’s club, that couldn’t be further from the truth. Investing is actually quite simple and easy, and requires almost zero effort on your part. If you’re turned off by the thought of researching stock picks, having to keep up with the markets, or just nervous about investing at all, this guide is for you.
Most of the information from #womeninfinance comes from a scarcity mentality, while the information men's accounts provide comes from an abundance mentality. While it’s important to make sure you aren’t spending outside of your means, extreme budgeting from a scarcity mentality won’t get you very far on your journey to becoming a rich bitch. It’s time for women to make the shift to an abundance mentality and find ways to grow our money. These are the most popular money “tips” I’ve seen on women’s finance accounts, why you should avoid them, and what you should do with your money instead.
Lately, I’ve been seeing a lot of articles about how great dividend stocks are. I assume that this uptick in the love for dividend stocks is because they’re seen as safer investments than growth stocks, and investors are trying to find certainty in an uncertain marketplace. But what makes dividend stocks safer than growth stocks? In this post, we will break down the difference between dividend and growth stocks, what makes dividend stocks safer investments, and why you should skip dividend stocks even though they’re safer and go for growth stocks instead.