- Not having a budget is one of the leading causes of financial stress.
- Good budgeting comes down to having a handle on your income coming in and your expenses going out.
- I have three simple but powerful rules for budgeting (see below and related video above).
- Owning a home gives you great peace of mind, but it comes with a lot more responsibility than renting.
- Budget 1 percent of your home’s value each year for routine maintenance.
- Using a rent versus buy calculator is a good start, but it won’t account for the emotional satisfaction (or stress) of being a homeowner.
- April is National Financial Literacy month. It calls attention to how much work people of all ages have to do to improve their money skills.
- Over 120 million Americans do not have estate plans. It’s never too early to start one.
- The majority of people in their 70s could run out of money if they live into their 80s and/or 90s. Don’t let this happen to you.
- Money is just a tool, and you always want it working in your favor.
- Saving keeps you from making bad, hasty money decisions and gives you room to breathe and think.
- Be selective about your friends, embrace long-term planning, maintain positive cash flow and create a “money avatar” for yourself.