- 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).
- Controlling your mornings, conquering your afternoon chaos, and concentrating on what matters in the evening will make you more productive than you ever thought possible.
- Structure in the workplace is extremely important, because it allows us to get things done efficiently and minimize distractions.
- Try to rise and go to bed at the same time every day, limit email usage, give yourself 15 minutes extra in the morning and tackle your toughest tasks first thing.
- Stagnant wages and large student loans have made it difficult for many young people to move down the road toward full financial adulthood.
- But there have never been more ways to supplement your income with freelance, independent contractor work.
- Freelance, independent contractor networks can be a great backstop for sudden job loss and for keeping your skill set up to date.
- 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.