Margin is that space between your normal and your maximum capacity. It’s that cushion in your life between your everyday responsibilities and your absolute limits. It’s that Saturday morning when you sleep in, or your 35-minute daily workout, or your few minutes alone with your cup of coffee in the morning before your kids wake up. Tapping into that margin when needed is fine (and inevitable), but the closer to your limits you live, the bigger the risk of hitting a breaking point. This applies to time, career, and of course money.
We recently took a dive into the how and why of creating a budget. Now we’ll look at how to actually stick to that shiny new budget. Here’s the secret: it all begins with spending awareness. You can’t master your spending unless you first understand how you’re actually spending. The more aware you are of your spending, the more control you’ll have over your money.
Budgeting can be a drag. You don’t get to spend as much as you’d like on the things you want, and yet you still worry about whether there’s enough left over for essentials like saving and debt payments. But it doesn’t have to be that way. I’m going to introduce you to the one-number budget, which flips budgeting on its head and frees you to set aside money for your day-to-day spending.
The new tax laws are projected to decrease charitable giving by $17 billion (or 4%) in 2018 — blame the larger standard deduction, which more taxpayers will take instead of itemizing deductions like charitable donations. It’s now more important than ever to manage your finances wisely so you can support worthy causes. Here’s how to be smart and intentional with your giving.
Retiring by 40 is all the rage these days. After all, what could be better than leaving behind the drudgery of an office job to travel the world and Instablog about it? Unconstrained by a job, the possibilities are endless.
Ho ho ho: consumer spending this holiday season hit a four-year high. Good news for the economy, right? Perhaps, but at the same time revolving credit (think credit card debt) has hit an all-time high in the U.S., while food pantries are more packed than ever (including with people who have traditionally middle-class jobs).