Mind Over Money: 4 Ways to Reverse Your Overbuying Habits Using Psychology

mindovermoneyOne of the biggest factors in effective money-saving is also one of the least talked-about. And that is psychology. For some reason, many of us don’t think about our finances from a psychological perspective – but in many cases the state of our finances can also be a manifestation of our approach to life.

Exploring the psychological aspect of your money habits won’t just help you find ways to save – it can also give you new insights into what motivates you in life generally, and hopefully help you look at things from a new perspective.

So, how can you go about using psychology to help you save money? We’ve put together this short guide to outline a selection of the main things to consider. [Read more…]

20 Better Things To Do On Black Friday Than Shop

blackfridayIt’s that time of the year again! Yep, Black Friday is almost upon us. While it’s one of the most anticipated days of the year for some, I’m not that excited. It’s almost strange to say that because I love a good bargain. But throw in a crazy crowd of people and I’m out of there.

Years ago, I used to love Black Friday. In fact, there was one year I headed to the mall right after Thanksgiving dinner to try to beat the crowds (to my surprise, it was plenty crowded already!). But the more I think about it, the more I realize how crazy it all is. While some deals are great, we can tend to get all worked up over nothing. We rush into stores in the wee hours of the morning to spend our money on things we don’t really need.

Instead of joining the madness this year, I’m planning on spending my time in a more meaningful and/or fun way. And you should join me in doing the same! Here’s a list of 20 things to do that are better than shopping on Black Friday: [Read more…]

Yes, You Can Balance FOMO, YOLO & Saving At The Same Time

fomoYou probably already know what FOMO and YOLO means. It’s even recognized by the Oxford dictionary. But in case you don’t, let me fill you in:

FOMO = Fear Of Missing Out

YOLO = You Only Live Once

And both terms have been used to death. So what exactly is FOMO and YOLO and why do all the young kids have it? It’s basically another way of saying you should live life in the moment, be spontaneous, take risks, etc. And it’s something that has defined my generation: the millennials.

Us millennials are known to have a bad case of wanderlust. Unlike generations before us, we want to travel, crave new experiences…and spend more money in the process. If we really want to live life to the fullest, how do we plan for the future at the same time? [Read more…]

10 Painless Ways To Cut Your Budget in Half

painless_budgetI save over 50% of my income. Whenever I tell people this, I always get this astonished look followed by the question ‘how do you do it?’. People always assume there’s some big secret or magic trick to saving more. There really isn’t. It comes down to two factors. You either have to make more or save more.

Earning extra income can be a little tricky. If you want to save over half of your income, start by trying to save more. And to do that, you need to cut your budget. It may seem impossible but there are painless things you can do everyday that will  cut your budget in half.

[Read more…]

Why You Need To Stop Obsessing Over Retirement

obsessing over retirementFrom the moment we start our careers, a countdown begins. We start counting down the years, months, weeks, and days until we can enjoy a carefree life we like to call retirement. We calculate how much we need to save each year, where we can cut back, and what kind of house we can afford just so that one day far off the future we can leave our jobs, retire, and then….do what exactly?

For many people, the answer to that question is still pretty vague.

Retirement usually includes one or more of these activities: moving somewhere sunny and warm year round (Florida is a popular place), spending more time with the kids, going on a cruise every year, and picking up some new hobbies. Sure, it sounds great for a little while. But let’s be honest, is it really all that exciting? Can you imagine yourself doing that for the rest of your life? I can’t. [Read more…]