Here is the next installment in our the Reader’s Questions Series which highlight questions emailed to me by you, the readers of Money Q&A. Be sure to find out at the end of this article how you can receive a free copy of Dave Ramsey’s book, The Total Money Makeover if your money question is chosen to be featured on an upcoming week’s blog post. If you're not familiar with Dave Ramsey's book, you should run right out and get it. It is one of my the best personal finance books that everyone should … [Read more...] about How to Prioritize Which Bills to Pay When You’re Struggling
Personal Finance
The Dangers of Lifestyle Inflation and How to Combat It
It's nice to have a little cash to wave around, especially if that wasn't always the case. Nevertheless, you really need to rein it in or you'll end up practicing lifestyle inflation. What's that? In a nutshell, it dwells on the logic that an increase in income should automatically lead to an increase in spending habits. This is a dangerous ideology that can ruin your financial health and keep you stuck in the rat race of working just to pay the bills. The thing is, it's only human nature to want to improve your social and economic standing. … [Read more...] about The Dangers of Lifestyle Inflation and How to Combat It
How to Separate Your Paycheck from Your Discretionary Spending
Did you know that half of American families live paycheck to paycheck? That number may seem astounding, but considering how high costs of living are nowadays and how wages don’t seem to be catching up with those costs, maybe it’s not so surprising that so many families live paycheck to paycheck and as many as 1 in 3 Americans have less than $500 saved up to cover emergency situations. It’s never been more important to separate your paycheck from your discretionary expenses because we never know whether our health insurance premiums might go … [Read more...] about How to Separate Your Paycheck from Your Discretionary Spending
4 Ways I Would Change Dave Ramsey’s Baby Steps in 2020
The following is a guest post from Ben, publisher of the blog - Saved by the Cents. If you'd like to submit a guest post to Money Q&A, be sure to check out our guest posting guidelines. You may be reading the title and thinking that I completely disagree with Dave Ramsey’s Baby Steps to achieve financial freedom. It’s actually quite the opposite. I have a lot of respect for Dave Ramsey. I also believe that what he’s done has been quite instrumental in my life and many people I have come in contact with. If you aren’t familiar with … [Read more...] about 4 Ways I Would Change Dave Ramsey’s Baby Steps in 2020
Three Ways To Ruin Your Own Financial Recovery
Things are looking up with the economy as more economic indicators are turning positive. In the past couple of weeks, we have seen positive signs from unemployment, housing starts, consumer spending, and of course the stock market. But, how can you have a financial recovery? But, there are a few ways that you can trip yourself up and screw up your own personal financial recovery. It does not have to be that way though. You can avoid these stumbling blocks and continue your own recovery. Three Ways to Ruin Your Financial Recovery Not … [Read more...] about Three Ways To Ruin Your Own Financial Recovery
5 Simple Ways to Save Money During the COVID19 Pandemic and Beyond
The coronavirus pandemic has thrown most non-essential business operations and work schedules into disarray. Many companies have laid off their employees, and many are unsure of when they'll receive their next paycheck. Adopting new saving habits is a smart move during these uncertain times. Save money during the COVID19 is almost inevitable if you wish to get by. While your finances may seem messed up at the moment, worry not. I have come up with five ways to help you free up some cash and rack up your savings. Don't Stockpile … [Read more...] about 5 Simple Ways to Save Money During the COVID19 Pandemic and Beyond