Through my coaching work, I have often observed the same unhealthy financial habits that push families into that tight corner. So, in order to avoid getting trapped in the paycheck-to-paycheck spiral, I recommend incorporating some of these healthy habits into your lifestyle.
The next time you set up a transfer to put money into savings... pause. Are you 100 percent sure that you won't need to call this money back into your checking? Then proceed. If not, you might save more in the long run if you save less now.
For my Grandmother the idea was to stay in the game. By reducing risk and going with the odds you are able to stay at the table when others have long since folded. Keeping these two rules in mind when making your investment decisions will help keep you in the game as well.
Unfortunately, personal finance courses are not taught in schools, so it's completely up to you -- and the earlier you begin the process, the better chance your children will have to grow up into responsible, thrifty young adults.
Television. School. Osmosis. These are just a few of the ways that many parents would prefer that their children learn about finances -- as long as they don't have to bring up the sticky subject themselves.
With laptops, we can file sales reports from home, conference from a hotel room, and (regrettably) update spreadsheets on vacation. What's becoming increasingly common, however, is that many of these tasks can be accomplished from your smart phone.
Only about one in seven Americans were willing to give up Internet access. We are more willing to give up sex for six months than cut off access to email -- is this really what money stress has come to?
Keeping our long-term goals on our radar, and knowing the exact steps we can take to get there via a financial plan, is just the motivation we need to stick to our budgets, save for retirement and plan ahead.