Smart Spending

Key Takeaways

  • The idea that the more expensive the item, the better quality it is, no longer applies.
  • Many of the decisions we make are based on emotion, so when it comes to spending, you want to make sure you know what you value, so you don’t spend money on extras you don’t need.
  • Being attentive and intentional about your spending will keep you from regretting your purchases down the road.

3 Steps to Protect Your Identity

Key Takeaways

  • The data breaches you hear about in the news are not about hackers getting in to somewhere and taking information, but about corporations mishandling your information which in turn ends up getting leaked.
  • Once your information is stolen in a data breach, it can take anywhere between one and five years before you see any fraudulent activity.
  • The three ways to protect yourself from identity theft are to freeze your credit, monitor your credit with both free and paid services, and use credit cards, not debit cards.

What’s Your Why?

Key Takeaways

  • Your “Why” is your personal story, why you do what you do, what you care about.
  • Many people go through life not knowing their why, and it can bog them down or make them go down paths that end up going nowhere for them because it doesn’t mesh with what they are truly about.
  • Being clear on what your why is can help you be intentional and attentive to doing things that are relative to that, thus making you feel happier and more fulfilled in life

The Debt Shovel

Key Takeaways 

  • How we take on debt and how we pay it back can be a bit of an intangible concept.
  • When you initially take on debt, it’s tax free, but when you pay it back, it’s with money after tax, and that means it takes more of your income to pay that debt back than you originally took out.
  • Understanding this concept ahead of taking on any debt will help you plan out what you will need in terms of cash flow to pay that debt back.