Becoming a parent is perhaps the biggest of all life changes: the sacrifice of free time for tummy time, a sudden expertise in infant sleep cycles and bodily functions, and a host of financial considerations. Yes, babies can be expensive, but you can keep costs manageable.
Quick: what’s the number one thing you’ll spend money on, no questions asked? When discussing spending habits with clients, I often hear “Oh, that’s my thing.” That’s code for: “That’s an untouchable expense. Don’t ask me to change.” Be wary of building a sacred fence around a particular area of spending, which can lead to debt or conflict with one’s partner over expenses.
Fall provides an opportunity to refocus your goals and reset your habits. Money touches most of our life goals, even goals that aren’t explicitly financial (such as spending more time with your significant other, which may require money for dates or vacation). Healthy money habits can facilitate these goals as well as help you progress toward financial freedom.
In response to Equifax’s news of a massive security breach affecting 143 million people (which is nearly half the U.S. population), I’ve prepared a brief action plan to help protect your identity and personal information.
The financial burden of retirement is growing. Today’s Americans are more likely to live longer, have aging parents to care for in retirement, face steep medical bills, and spend more on travel to visit far-flung family members. But recent research challenges our understanding of retirement as a long-awaited reprieve from work.
Wise management of your financial situation fosters the freedom to pursue your goals by aligning your spending, saving, and giving with your life priorities. We recently looked at five essential principles for achieving this kind of financial freedom. Today we’ll get practical and discuss five essential habits for achieving financial freedom.