savings
The sequence of events is consequential when we cook a meal, tell a story or travel to a destination. Instructions and directions are ordered, stories have sequential acts and arcs that depend on events. Itโs the way things are, we accept this.
The same thing is true in the world of saving and investing. The chronology for both how you save (and invest) and where you save (and invest) matters.
How to Be Financially Responsible | The Basics of Financial Responsibility
One of the most frequent financial struggles that people talk to me or email me about is having trouble being "fiscally responsible".
When it comes to doing the things one ought to do with their money, according to what I've learned from the industry and society at large, we fall short in a few common ways. Most people have trouble saving when you know you should save, curbing spending on bull shit that you don't need and understanding how the financial markets and economics. I get it. I make weird choices too. A lot of us do it because we're emotional creatures that act on our feelings.
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If youโre trying to pad a savings account (or multiple savings accounts), it can be daunting and overwhelming. The first thing you need to do is figure out how much you need to save.
Read MoreThere are plenty of people who don't have an emergency fund. In fact, nearly 30 percent of Americans don't, according to a report by NeighborWorks America.
70 percent of Americans who do have emergency fund savings are lucky. Better yet, they're #blessed. It is a fucking luxury, just like an overpriced Yeezy hoodie. The reality is that it's just not a reality for everyone, unfortunately.
Read MoreNot everyone can save for retirement because they're can barely get by. So for the those of you who can, this is a privilege you should take advantage of. Those of you who think you can't, do the numbers and see just how short your savings are. Even if you're a disadvantaged player in the system, operate with as much knowledge as possible. Use the calculator to understand how much you'll need in retirement and how much you should be saving each month.
Read MoreI used to be very fit. Like annoyingly, intense with seemingly-boundless-energy kind of fit. And people who were not card-carrying members of the fitness freak club would constantly ask me about it. Why was I so fit? How do you ride your bike for 100 miles in a day? What's your secret?
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