Sometimes what stops someone from following advice is just not knowing where to begin or how easy it is. Many personal financial advisors have minimums, so where do you start if you only have a small amount of money to invest?
So now, after encouraging you to save 10% for emergencies, 15% for financial independence (often called “retirement”), and 10% for long-term savings, we’ve whittled down your income to about 65%. This 65% is for day-to-day living.
Milestones in life encourage advice. In 2012, I graduated, got married, and started a job and then this year, I bought a house. I received a lot of great advice, but here is some of the worse advice I was given.
My recent column, 8 Worst Money Tips for New Grads, was recently published on Yahoo Finance. I originally wrote this column with the voice of a Dutch Uncle admonishing college students to stay out of financial ruin.
I opened my freezer and found, to my horror, my ice cream had turned to mush. Why? My refrigerator and freezer were broken. The expense for a new refrigerator was around $700. How could I have seen that expense coming?
In 2008 Obama captured 66% of the youth vote. But unlike the liberal ideological baby boom generation, millennials are more pragmatic. Support for Obama among the 18- to 29-year-old age group has dropped to 48%.
David Marotta discusses the importance of teaching your children how to handle money, reasons parents sometimes find it difficult to talk about money, and why it is important to start your children’s financial education early.