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Are you tired of feeling overwhelmed by your spending habits? In this video, we delve into the Psychology of Overspending and unveil essential strategies to overcome it! Discover the triggers that lead to impulsive purchases, from the allure of instant gratification to social comparison fueled by social media. We’ll guide you in tracking your spending …
Related When it comes to financial myths, credit-card-related misconceptions rank right up there alongside needing a cash windfall to kickstart your savings or that you need a significant amount of money to invest in stocks. In some ways, credit card myths may arguably be the most pervasive. Case in point: a recent Capital One survey on credit …
Your credit score is influenced by a few key factors, including your payment history, and the amount of debt you carry relative to your overall credit limit. Another couple of factors are the length of your credit history, any new credit you have taken on, and the different types of credit in use. What is …
To conquer financial anxiety, create a budget, build an emergency fund, manage debt, practice mindfulness, and prioritize self-care. Here’s a more detailed breakdown of tips to help you manage financial anxiety: 1. Take Control of Your Finances: 2. Practice Financial Mindfulness: 3. Prioritize Self-Care:
Learn how to structure your paychecks around paying yourself first. You might have heard people say "you should always try and pay yourself first". The phrase "pay yourself first" generally refers to the idea that when you receive income, you should prioritize saving money for yourself before paying bills or other expenses. So, let’s walk through how …
Savings are like a guardrail for your financial plans – they ensure that even if something unexpected happens, your plan remains in place and you are still building a better financial future. Emergency fund If you are following the 50/30/20 rule for budgeting, you are already setting aside 20% of your income for savings. Now, let’s break …
Learn the reasons and strategies for saving money. Saving money is very important for a number of reasons. First, it allows you to have a safety net in case of emergencies. For example, if you suddenly lose your job or have an unexpected medical bill, having money saved up can help you avoid falling into …
Negotiating bills Sometimes it can be tough paying bills, especially when they’re for services you rely on, like your phone, internet, or cable. But there’s good news: you may be able to negotiate a lower bill with your service providers. Here are a few tips to help you! 1. Know your options. Before you call …
Part of the Budgeting series: The 50/30/20 rule divides your money into three categories: needs, wants, and savings. The 50/30/20 rule suggests that you spend 50% of your income on your needs, 30% on your wants, and 20% on your savings. This way, you can balance your money and plan for your future. How do …
The "50/30/20 rule" for budgeting means allocating 50% of your after-tax income towards "needs" (like housing, food, utilities), 30% towards "wants" (entertainment, dining out), and 20% towards "savings" (retirement funds, emergency fund) every month. Breakdown: Key points about the 50/30/20 rule: