This article is posted under saving
While the correlation between "evil" and idleness maybe debatable, it's not far-fetched that when we've got absolutely nothing to do, we might end up being up to no good.
And that's actually very relevant in personal finance.
There's a whole lot of stuff out there designed specifically to entice you to spend money. And so when you find yourself with spare time and looking for something to do, there's a great chance you'll end up spending money.
In this case, idle time is your wallet's bane.
It's not a bad idea to have inexpensive, "default" activities to fall back on:
This article is posted under personal finance
It makes more sense than say... me celebrating my birthday party. I've had lots of it already, so it's nothing new. Plus I'm footing the bill... so, you know: "It's ok. It's not a big deal. Let's just stay in." :D
What puzzles me is the grand 1st birthday celebration. I can understand the 7th, which is usually a little more modest (compared to the first, anyway). But the first birthday... It's especially bewildering to me.
And indeed there are a lot of ways to do so. However, businesses have been quite adept at making us think we are saving money, when we aren't.
How? Here are 8 ways:
This article is posted under financial future
After again being hampered by procrastination, I've finally gotten of my butt and did some serious thinking about that taxi business.
And here's what I came up with. (file link after the break.)
It's not a business plan (though I have a draft of that too), and it only has a basic ROI (plus a little risk planning). What it is though, is a basic projection of what the finances would look like.
And after going through it, here's what I concluded:
I'm focusing on parents taking charge of their children's financial well-being and future. Don't just give it to them, teach them what it is and how to use it properly.
Avoidance is an ineffective response to something that will not be avoided. Waiting, on it's own, will not guarantee a better outcome.
And if our children will eventually end up with credit cards (and they most likely will if the parents have one themselves), then it's much better to be proactive and teach them the right habits.
But how can we do that?
Just giving them a credit card and "winging it" would be fatal (financially speaking). That's no different than just waiting for them to get jobs and get one on their own.
Instead we have to be systematic about it.