Personal Finance

The following is a guest post by Donna Stoneham, PhD, the author of “The Thriver’s Edge: Seven Keys to Transform the Way You Live, Love“. If you’d like to find out more about guest posting on Money Q&A, please read our Guest Posting Guidelines. 

Regardless of where you fall on the political spectrum, 2017 is likely to be a year unlike any we’ve ever experienced. America has never been more divided, and many people are feeling alienated and anxious. We can’t deny that hatred, cynicism, and misunderstanding are present, but we each have the power to transform them. The author and anthropologist Margaret Meade said, “Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it’s the only thing that ever has.”

Five Practices to Help You Thrive in Perilous Times

Let’s make 2017 the year we commit to strengthen ourselves in five key areas, so that collectively, we can create a world where we can all thrive, not just survive, during the coming year.

1. Cultivate a Strong Body

We all need strong bodies because physical strength helps to ground us. It helps keep our immunity high in times of stress so we don’t get sick. Exercising regularly, getting good nutrition each day and making sure we get sound, restful sleep gives us the energy we need to thrive and successfully manage stress and fear.

The Practice: Move your body for a half hour or more at least four times each week and for a minimum of fifteen minutes every day. Walk the dog. Use a treadmill or an elliptical while you’re reading or watching TV. Run. Swim. Play basketball. Do Yoga. Just MOVE. Get good nutrition every day. Say goodbye to fast food. Make sure you’re consistently getting at least seven hours of sleep each night and be mindful of how much alcohol you ingest.

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Having a baby is one of the biggest emotional and financial decisions you’ll ever make in your life. Throughout the trials and tribulations that come with raising your own child, most parents agree that the benefits outweigh the costs. But, are there a few simple money tips for new parents that could make things easier?

If you’re planning on having a baby this year, however, you can expect to pay over $300,000 over the next 18 years for your child’s food, shelter, clothes, education, activities, and medical expenses (just to name a few).

4 Frugal Ideas for New Parents

Don’t fret over this seemingly high cost, because there are several ways to save money on baby-related expenses without sacrificing the quality of care and clothes you provide your little one. Here are some of the many tips for new parents and ways you can save money as a new parent.

Practical Requests for Baby Shower Registry

Baby showers are great opportunities for not only sharing your joy about your new member of the family but also stocking up on much-needed items for the baby. Although it’s fun seeing all the cute outfits and booties you can’t wait to dress up your baby boy or girl in, it’d be wise to request necessities like diapers and baby food on your registry as well.

After all, the average baby goes through 2,700 disposable diapers in its first year, which costs about $60 per month! You can lighten this financial burden by asking family members and friends to bring diapers to your baby shower (they might also throw in an adorable outfit or toy, just to make it both a practical and fun gift).

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Countries all around the world have their own unique New Year’s traditions. Many places feature customary cuisine, such as lentils (Brazil and Italy), suckling pig (Austria) and grapes (Spain). There are many interesting New Years Eve facts and statistics.

Others get a bit more creative. The Danish, for example, smash broken china on friends’ front doors, supposedly in a sign of affection. But you obviously don’t need to go global to learn a lot about New Year’s.

We have plenty of customs right here at home, from watching a giant crystal-covered ball drop in Time’s Square and drinking sparkling spirits at midnight to eating black-eyed peas and making resolutions on Jan. 1. And, even these famous traditions have a history that most people don’t fully understand. For instance, you might not know that the Time’s Square ball weighs nearly six tons, or that more than 360 million glasses of sparkling wine are consumed in the U.S. each New Year’s Eve. The fact that New Year’s Eve is the busiest night of the year for celebratory gunfire may or may not come as a surprise, too.

For instance, you might not know that the Time’s Square ball weighs nearly six tons, or that more than 360 million glasses of sparkling wine are consumed in the U.S. each New Year’s Eve. The fact that New Year’s Eve is the busiest night of the year for celebratory gunfire may or may not come as a surprise though.

With that in mind, WalletHub’s editors went hunting for the most interesting factoids about America’s fourth-favorite holiday, New Year’s Eve/Day, to help people better understand and enjoy the occasion. Below, you can check out our findings on everything from our eating, drinking and spending habits to travel plans, midnight prayers, DUIs and hangovers.

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According to the American Economic Statistics Office, the average American had credit card debt of over $5800 in 2015, with households averaging over $15,700. These debts come from a number of different credit cards. With the debt coming from a number of different sources, the process of managing one’s finances becomes a bit more tedious.

In order to make this process less tedious, people consolidate their debts into one. In some cases, debt consolidation would also come with lower interest rate. Another alternative is to apply for a loan with more favorable terms to pay off some more expensive debts.

5 Things to Do When Consolidating Debt

Personal finance experts have varying views about using debt consolidation a tool for improving one’s finances. However, regardless of what you might have heard or read about debt consolidation, here are some things you should do if you ever decide when consolidating debt.

Write Out Personal Finance Game Plan

It might sound harsh, but the reality is that most people find themselves in debt because they don’t budget. Put simply, budgeting is the process of planning your future expenses based on your expected income. A Gallup survey once revealed that two out of every three Americans do not budget. Don’t look too far, this data show why many people are in debt.

Since making your finances look better is the reason you’re planning to consolidate debt, it’s important to start with a budget. It helps to have your financial plan written out. There are tons of apps available these days that can make the process easier.

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