Budgeting

Most of our regular use of items is habitual. Developing a mindset that uses less requires changing our habits.

With these moderate interest rates, the only clearly wrong decision in my view is buying a car on loan because you cannot afford it outright.

Although this is the least common financial shock studied, it is one of the most difficult because at its core it is a problem money cannot solve.

Here is a strategy that can both help you identify what you value and help you start your budget.

Financial shocks can come in all shapes and sizes. This strategy of budgeting should increase your chance for success over the long haul.

Anything which is not contributing toward your financial independence should be considered part of your lifestyle spending.

Whatever technique you use to smooth your income, providing for the possibility of having a sudden reduction in income can help your family self-ensure against this potential financial shock.

This is the financial shock of a trip to hospital. It is upsetting, expensive, and unexpected.

This is the financial shock of a major home repair. It is expensive and surprising.

This is the financial shock of a major car repair. It is the most common financial shock with 30% of households reporting such an event within the last 12 months.

It is possible to be prepared for financial emergencies by living 10% more frugally and saving for the inevitable eventuality.

Don’t be cynical. Get serious.

The FIRE (Financial Independence, Retire Early) movement is a suggestion that you should have the goal of achieving financial independence and retiring while you are young.

This isn’t the kind of article you think it is. My daughter wore disposable diapers.

On Tuesday, January 8, 2019, David John Marotta appeared on Radio 1070 WINA’s Schilling Show to discuss financial resolutions for the 2019 new year.

Regardless of your assumptions about future market returns, the impoverishment to families with credit card debt is massive.

It requires intentionality and creativity to avoid the hidden budget busters of gift wrap.

We have a limited amount of willpower. It is a waste to have to expend it to ignore advertising.

Even though tangible things that take up space tend to be bad gifts, there are many items that a minimalist can really appreciate receiving.

I would like to encourage those of you who like participating in this weekend shopping spree to do the small task of paying yourself first.

A little bit of work upfront can save a great deal of nuisance later.

In 2003, the Goldman Sachs Global Economics Department predicted the economic and geopolitical influence of Brazil, Russia, India and China (the BRIC countries) would become increasingly visible in the developed world. We revisit those countries here.

Grocery stores know all the shoppers tricks, which means that when comparative price shopping you actually have to compare all the prices to get the best deal.

There is no such thing as saving money buying something. You can go broke “saving money” this way.

I began my DIY journey learning about science, so it feels best to start you there as well.

Each spouse has different spending habits and values different things in life. This can easily lead to bitterness, or at the least, long discussions when the budget is reconciled.

If you budget well according to your values, a one-pocket theory of money enriches your life, prioritizing your financial dreams above your impulses.

We don’t write a lot about how to spend money, but an international study published this year claims to have found the route from wealth to well-being through spending money.

The Dave Ramsey website has a list of upcoming classes in the Charlottesville area with start dates varying from September 13 through October 11.

Financial planning is simply doing what it takes to give you the means to do what you want. The poorer you are the more you need financial planning. You don’t have any margin for mistakes.

Saving money is not enough. You need to save and invest.

“Develop spending discipline. People too often forget that the real enemy of investment is consumption.”

If you want to be really minimalist about your budgeting, here’s what we suggest: the 65-25-10 rule.

Endowment spending rates can prove a catalyst for fulfilling or killing the life of the organization itself.

Many feel helpless to direct their own success, but nothing could be further from the truth.

There are at least five reasons to hold cash. Without a good reason to hold cash, you may be holding too much.

With a little preparation, you can save and invest over your lifetime to meet your financial goals and dreams.

Having a budget as a boundary for your spending gives you the freedom to work within that boundary, and keeps you on track to save for your goals.

You probably know that you should spend less than you earn, but that is only part of the equation.

While your student loans may be a daunting sum, it is still possible to build wealth even while paying off student debt.

If a budget isn’t a team effort, one member of the family will hold the purse strings and everyone else will be resentful.

Too much leverage is risky because it endangers meeting your goals.

We tracked the price of a first class stamp over the last 130 years, noting the changes, to show the steady erosion in buying power during that time.

It is the season of spring cleaning, so here’s a calendar of ways to clean up your finances one step at a time.

This Schwab checking account provides six impressive services not true for most local banks.

Investment brokers like Schwab offer many services local banks offer but there are a few reasons why you might want to resist consolidating all of your accounts to a broker.

Changing where you drink soda is a small step, but enough small steps can make a huge difference in your savings.

David John Marotta was interviewed on WINA’s “Real Estate Matters” show with Michael Guthrie, talking about how it is still a good time to buy a house.

Here is a simple way to think about commercial property.

David John Marotta was interviewed recently on radio 1070 WINA’s Schilling Show discussing financial Christmas gifts.