These are big steps, not baby steps.
People don’t just wake up one day and become millionaires unless you’re born into a rich family, of course. Most people can’t even pay off all their student debt or purchase a house.
If you want to get ahead, you have to make risky or difficult life decisions. And then follow through with these decisions until it’s a lifestyle over an extended time.
What are the key financial decisions that can change your life for the better and the future?
1. Live below your means over a consistent period
Living below your means is spending less than you earn. …
And if it’s time to jump ship
We’ve all heard Marcus Buckingham’s famous line of “people leave managers, not companies.”
In my experience, working with an incompetent or unprofessional manager is an immediate red flag that leads employees to look for another job or give their resignation notice sooner rather than later.
But what is it about a company that makes an employee leave?
Toxic work environments.
But by the time someone makes the conscious decision to quit, chances are, they’ve probably worked in a toxic environment for an extended period.
Through my personal experience and the lens of an HR professional, below are some signs of a toxic work environment. …
It’s better to discuss sooner rather than later
According to a survey conducted by Ramsey Solutions in 2017, money fights are the second leading cause of divorce, behind infidelity. While monogamous relationships are usually (and should be) on the same page with not cheating, money agreements are a little trickier.
What are the essential money conversations that need to occur before marriage?
1. How much money do you make?
It’s not necessarily first date conversation, but when you’re in a long-term committed relationship, the discussion must come up.
Discussing current and potential income is essential for financial success. The seemingly intrusive question establishes the foundation of you and your partner’s money habits.
It’s nearly impossible to build wealth together for the future when either of you is working a dead-end job or living paycheck to paycheck. Both of you want to be on the same page, and ideally, both of you want to increase your income and lower your expenses. …
It’s like going to the gym after a hiatus
Studying isn’t easy. Especially after you’ve taken a hiatus through entering the workforce full-time. While you have undeniable work experience under your belt, your brain doesn’t absorb information quite as readily as your college days.
And it sucks.
I remember sitting in a class my senior year of college with most students who were working professionals taking a human resources and law class.
Even with my limited human resources experience, I aced the midterms and finals. The material came to me with ease, similar to my other studies.
But when my professor expressed his disappointment with the abysmal test scores (50% of the class failed), I felt my ego inflate with pride. Even with my challenging coursework and 3 other finals within the same week, I wasn’t part of that below-average group. …
TRAVEL
Off the beaten path from its popular sister Seattle
Located on Fidalgo Island, Anacortes beautifully represents the Pacific Northwest. Often disregarded over its more popular neighbors (Seattle, Bellingham, and Vancouver BC), it’s a true hidden gem.
I always make the drive out here to treat out-of-town visitors. While most people touring Washington want to see the famous fish throwing at Pike Place Market or the powerful waterfalls at Snoqualmie Falls, Anacortes presents unparalleled water views.
Why do you need to make Anacortes, Washington a must-visit?
It’s a convenient location.
Anacortes is more convenient than you think. It’s about a 1.5-hour drive from Seattle and well worth it.
Aside from a drive, Anacortes has a ferry running from Seattle, Canada, and the coveted San Juan islands known for their relaxing getaways. Whether you’re making a detour or day trip, Anacortes may be the perfect answer you’re looking for. …
Do you want a triple-tax benefit?
If you’re on a high deductible health plan in the United States, you may be eligible for an advantageous Health Savings Account (HSA).
This enables you to pay for qualified medical expenses and save for future medical expenses: all tax-free!
You may be eligible for an HSA if:
- You have coverage under an HSA-qualified high deductible PPO health plan.
- You’re not enrolled in Medicare.
- You’re not claimed as a dependent on someone else’s tax return.
1. Provides a triple-tax benefit
One of the most appealing things about an HSA is that they provide a triple tax advantage:
- First, contributions are tax-deductible. If an employee contributes to an HSA directly from their paycheck, that amount deposited reduces your federal income taxes owed. …
With others and ourselves
Readers: This article may contain minor spoilers.
The acclaimed Netflix miniseries “The Queen’s Gambit” focuses on Beth Harmon, a prodigy chess player embracing her genius while struggling with addiction.
Based on Walter Tevis’s novel of the same name, the story follows Beth’s incredible coming of age story from a socially awkward outcast in an orphanage to a well-renowned chess player. Throughout her triumphs and failures, Beth captivates the audience with her selfish brilliance.
On the surface, it seems like a simple story about chess. But upon further inspection, it’s anything but.
Scott Frank, the director and executive producer, describes Harmon’s journey as “the cost of genius.” And the same cost of genius provides powerful lessons on relationships with ourselves, family, and friends. …
To establish a strong foundation
While initiating money conversations with your potential spouse can be awkward, what’s even more uncomfortable is finding out financial issues after marriage.
Discussing important money conversations provides more in-depth knowledge about your partner’s spending habits, overarching financial philosophy, and insight into their plans and goals for the future.
After all, you want your partner to help you be the best version of yourself. And this includes your finances.
What are the must-have money conversations to have before you walk down the aisle?
1. Money decisions with extended family
How do you approach money decisions with extended family?
It’s important to evaluate how you would make decisions in certain…
And how to change your habits
Much like how a toxic significant other can trap you in a romantic relationship, you can also be trapped in a bad relationship with money.
The parallels exist. You don’t know what to do next. You’re scared. You’re exhausted.
Improving your relationship with money is difficult to sustain over the long-term, but the results are tenfold. Few people get everything personal finance related right from the start. After all, we’re far from perfect.
But whether you’re trapped with thousands of student loan debt or applying to jobs after a layoff, everyone can easily fall into these short-term traps:
- You’re living paycheck to paycheck. …
And how to avoid them
Career mistakes are a right of passage. After all, nobody knows it all.
Especially when you’re a naive and fresh college grad, you’ve graduated from college and started your job search for a “dream” job or simply, “a job.”
Hindsight is 20/20, and while anyone can make career mistakes, recent college grads tend to make certain mistakes more. Without overwhelming feedback, rejections, and guidance to prepare us, sometimes we get the shorter end of the stick.
What are the biggest career mistakes you can make in your 20s, and how to avoid them?
1. Not knowing your worth
Not knowing your worth can kill your self-confidence and negotiating power. …
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