Tag: Mindful Money

 

How to Plan the Perfect Staycation: 6 Tips for Affordable Relaxation

It’s no secret that travel can be expensive even if you’re able to take advantage of hacks to lower the costs.

In fact, according to one study, the average family of four spends $4,580 on a vacation. And, many of these families expect to put at least $1,000 of their travel costs on a credit card.

Yet, there is a way to take time off without leaving your hometown and spending oodles of cash: Take a staycation.

What is a staycation?

A staycation is just like a vacation only you stay home. This means you don’t have to spend money on travel and lodging. You’ll still take time off and seek out new experiences, but you’ll be spending time near your home exploring your own town or taking day trips.

You can save a lot of money with a staycation and still bond and make memories with your loved ones.

Here are 6 tips to help you plan the perfect staycation.

1. Explore your city

A staycation can be just as fun as a vacation because you’ll have the opportunity to explore your city like never before. To start, think about whether there are there restaurants or attractions you’ve never been to.

Perhaps you can visit a new neighborhood eatery or attend a local festival. Maybe you can swap out your online shopping to check out some local shops and support the businesses in your area. Or, visit local museums and wander through the exhibits.

If you live near a metropolitan city, you may be able to take advantage of tourist attraction passes that allow you to visit several landmarks or attractions for one flat fee. You usually have a few days to visit all the places included in the pass. This is also a great way to experience the best of what your city has to offer – on a budget.

For example, CityPASS offers a low-priced pass in many cities, including Chicago, Boston, Dallas, Seattle and New York City. For a $64 adult Boston CityPASS ($52 for kids), you get access to five major attractions, including the New England Aquarium, Museum of Science and Boston Harbor Cruises. You’ve got nine days to visit the attractions and your pass also gets you expedited entry into all sites. Not so shabby.

2. Play Catch Up

A staycation is a great way to catch up on errands, set up appointments, and organize different aspects of your life. Dentist appointment anyone?

Yes, this may sound like work, but you can schedule tasks on your own terms and check off a few things on your list, leaving you feeling refreshed.

Just think: You can accomplish things that have been on your to-do list for weeks, like getting routine maintenance checks on your car, going to a doctor’s appointment, and decluttering and organizing your home.

In true staycation fashion, you can even treat yourself to a nice lunch after you finish errands or visit a day spa for the afternoon.

3. Embrace the Outdoors

Ready to embrace the outdoors? Use your staycation to explore local trails. You can also plan an outdoor picnic with family, visit a park, go swimming if the weather permits, or ride a bike along a scenic path. If there’s a nearby state or national park, you can even take a day trip to feel as if you’re getting out of dodge.

Another option to consider: Take a trip to the local zoo. There are several free or low-cost zoos across the country. Most will even allow you to bring in your own food and snacks, cutting down on your costs even more.

4. Take on a New Hobby or Learn a New Skill

Part of the thrill of going on vacation involves going someplace new. Yet, you can still experience something new without traveling far from home. A good place to start: Try out a new hobby.

Think of something you’ve always wanted to do and plan to hone that new skill or passion during your staycation. Whether you want to start playing a new instrument, learn photography, fix cars, start sewing, or practice cake decorating, this is a great opportunity to give it a whirl. Perhaps you can even take a class in the area or check out free resources online. Skillshare, for example, is an online community that allows people to learn new things.

If you’re stumped for a new idea, try a paint and wine outing with friends. These are typically budget-friendly and you don’t need a lot of artistic skills.

5. Make Time For Friends

Take the initiative to reach out to friends you haven’t seen in a while and plan a get-together.

You can simply have a lunch date, invite your friends over, or go somewhere fun. To stay on budget, look for Groupon deals. For example, maybe you can check out a new coffee shop or restaurant in town.

You can also use your staycation as an opportunity to meet new friends. Sites like Meetup have tons of local groups that are designed to facilitate meetings of like-minded folks. There are groups for runners, parents, couples, board game lovers, creatives, pet owners, and more.

6. Relax, Just Do It

Staycations are perfect for relaxing.

Sleep in, take naps in the middle of the day, catch up on your Netflix shows, and take long walks. Before you staycation, you can deep clean your home and organize your space as if you were leaving town.

You can even plan your meals and prep dinners in advance – then freeze them so you don’t have to worry about cooking. Decide on which days you’ll dine out and which days you’ll pull a ready-made meal from the freezer.

If there are any beaches by your home, plan to spend a day there relaxing and swimming. Or, if you have a sauna or pool at your gym, this is the week to make use of it.

Determine how you want to relax during your staycation and make it happen!

Save Money and Refresh With a Staycation

A staycation can not only be a huge money-saver, but it can help you relax, enjoy time with friends and family, and return back to reality feeling refreshed and rejuvenated.

Most importantly, you don’t have to save up a ton of money to have a successful staycation. And, you also won’t spend as much as you would if you travel far away. Just think: These staycation ideas will help you have a memorable experience without airline fees, hotel costs, and high restaurant charges.

Are you ready to plan a staycation?

 

The Cliffs Notes Guide to Money 101

Have you ever hung out with a group of friends and the conversation veers toward money?

You may feel anxious as your peers discuss their savings and investment portfolios. As for you? You keep quiet as you’re completely overwhelmed.

Yet, you’re not alone when it comes to anxiety over money. In fact, many Americans feel uncomfortable talking about wealth and other financial topics. According to a global study on financial literacy conducted by the S&P Ratings Service in 2015, 43% of Americans are financially illiterate. This means that they didn’t have the basic financial knowledge required to make informed and sound decisions about their money.

The U.S. Government is also aware of this problem and designated April as National Financial Literacy Month – all with the hopes of raising financial knowledge. Luckily, gaining insight into your finances doesn’t require years of extensive study. Even a cursory understanding of money matters can have a significant impact upon your financial situation.

To help you become more financially literate, we’ve created a guide that breaks down some of the most important aspects of money management, including savings, budgeting, borrowing, and long-term financial planning. We’ve also included some financial terminology that can help you make informed decisions to boost your savings. Read on to learn more.

Savings 

If getting in shape was your No. 1 resolution for this year, saving more money may have been No. 2.

The majority of Americans desperately want to save more money, but unless you have developed consistent and actionable goals, it can seem daunting.

One simple way to effectively save more money is to enroll in an automatic savings program, like the one offered at Chime. This way, you can start saving money without even thinking about it. With a Chime account, every time you make a purchase with your Chime Visa® Debit Card, transactions are automatically rounded up to the nearest dollar and transferred into your Chime Savings Account. The program also allows you to automatically set aside 10% of each paycheck into your savings as soon as you get paid.

There are several ways to save more money and your options often depend on your personal situation and lifestyle. Yet, regardless of how much money you earn, if you have an employer-sponsored retirement plan, or a 401(k), it’s a wise idea to contribute as much money as you can – especially if you can save money directly from your paycheck. If a 401(k) plan isn’t an option for you, consider opening an individual retirement account (IRA) to start saving now for your future.

If you’re looking to pull money out of your savings before retirement and want a safe way to earn money, consider opening a money market account (MMA). According to Investopedia, money markets accounts pay interest rates that are typically higher than at savings accounts. Many banks, however, require higher minimum balances in money market accounts in order to avoid fees and earn higher interest.

Budgeting

Another crucial step to saving money is creating a budget. You can start by taking a close look at how much money is coming in and how much is going out. To further explain, your net income is essentially the money you take in each month from your job, minus taxes and deductions. Once you have that net income figure, you can make a list of all your fixed expenses, which are costs that do not change month to month. This may include your rent or mortgage, utility bills and loan payments.

With this information, you can build a budget and figure out how much you can effectively allocate to your savings account.

Bari Tessler, a financial coach and author of The Art of Money: A Life-Changing Guide to Financial Happiness, subscribes to the 50/30/20 budgeting plan, initially developed by Senator Elizabeth Warren. The plan allocates 50% of your net income to fixed expenses, 30% to discretionary spending, and the remaining 20% to savings.

Tessler says that it’s not always possible to save twenty percent, and unexpected expenses may make it impossible to save at all. She emphasizes that your relationship with money will last your entire life, and ultimately, the amount you can save is very personal and can change over time.

Borrowing and Debt

Want to borrow money to buy a car or for a personal loan?

Oya Altınkılıç, a finance professor at the Robert H. Smith School of Business at the University of Maryland, recommends understanding the borrowing process and what will be expected of you.

For instance, getting approved for a loan depends heavily upon your creditworthiness. And this can be determined in part by your credit score, a three-digit number that gives lenders a snapshot look at how likely you are to repay your debt. Lenders will also look at your current assets, which are essentially anything of value that you own that can be converted into cash, such as real estate or cars. You should have a general idea of the value of your assets, including cash.

If you have a credit card, you may think it’s a good idea to buy expensive items on your card, perhaps instead of taking out a personal loan. However, credit card debt can pile up fast, especially if your annual percentage rate (APR) is high and you are paying hefty interest charges every month.

Just remember: Borrowing money typically has a cost, and it’s best to determine that cost upfront and evaluate it against your long-term financial goals before deciding whether to proceed.

Seek Professional Advice

Professor Altınkılıç says that if you don’t feel comfortable investing or managing your finances on your own, it’s a good idea to seek advice from a financial expert.

“You cannot beat the market on your own so don’t try. It is best to hire a financial professional who understands your short- and long-term investment goals, as well as your risk tolerance.”

“The financial industry is one of the most highly-regulated industries, and you have a higher chance of being successful if you choose someone who is reputable.”

To that end, you can begin your search for a financial advisor at the National Association of Personal Finance Advisors (NAPFA).

Start Saving More Money Today

Tessler at The Art of Money explains that many financial decisions are based on beliefs about security, abundance and fear that were developed during the childhood years.

People get paralyzed by money because of shame and guilt about not having enough saved or not investing earlier. Instead of dwelling on the past, however, it’s important to create sustainable practices around money – starting today.

Are you ready to level up your financial literacy and start saving more money? We thought so.

 

How Much do You Really Need in Your Emergency Fund?

Saving up an emergency fund is one of the best things you can do to prepare for unexpected expenses. Conventional wisdom says that you should save up at least three to six months’ worth of expenses.

That’s a lot of money. If you don’t earn Silicon Valley wages or if you’re just starting out from scratch, that can seem like an impossible amount to save, so why even try? But, try this on for size: Maybe you don’t necessarily need to save that much. It all depends on your personal situation.

Luckily, we’ve broken things down to help you decide what’s the right amount for you to save in an emergency fund.

How Much Money Should I Save?

The answer to this question is: It depends.

As with all rules of thumb, the three-month minimum emergency fund rule is a one-size-fits all prospect. For most people, this is great advice, and it’s infinitely better than no advice at all. But there are certain factors about your specific lifestyle and personal situation that may make you lean towards more – or less – than a three-month or six-month emergency fund.

We’ll walk through some considerations here, but in general: The riskier your situation, the more you need to save. If your situation is a little less risky, you may be able to get away with saving less.

Take a look at four questions to ask yourself when determining how much money to save:

1. Is Your Job Secure?

One of the biggest factors to think about is how stable your job situation is. After all, one of the biggest uses of emergency funds is to help you cover your costs if you lose your job. So, consider both your specific job situation and your industry in general.

If you’ve been working at your job for a long time, you may be more immune to layoffs or other unfortunate events.

Also, take a look at how your employer is doing. Do you think the company will be in business six months from now? Lastly, if you’re a freelancer, you may also want to consider saving more money since this is one of the most shaky forms of employment of all.

As far as your industry goes, consider whether it runs on a cyclical cycle. After all, the construction industry is booming right now and you may be able to find a job as a carpenter fairly easy, but five years from now it may not be the same story. The same thing goes for automation — is your job at risk for robots taking it over? If so, consider a larger emergency fund.

2. Are Your Specialized Skills in High Demand?

If you went to college or trade school to learn a specific, specialized skill, that’s supposed to help you find a job. And if you live in an area where that skill is in high demand, chances are you can find employment quickly if you lose your job. But if you live in an area where it’s not in high demand — or if jobs in your field are scattered around the U.S. — consider saving a bit more than normal.

3. How Much do You Need to Feel Comfortable?

Another consideration is simply how much money will make you feel safe. Maybe you’ve been burned in the past with outrageous home repairs, or a lemon (car) to end all lemons. If you would feel more secure and sleep better with a larger emergency fund, then go for it. If you’re OK playing with a bit more risk, then consider cutting back a bit.

4. What Type of Lifestyle do You Lead?

If you lose your job, your emergency fund is meant to tide you over until you can find gainful employment again. Most people recommend cutting back your expenses so that you can stretch your emergency fund as far as possible in this case.

But, consider this: Do you want to live the lifestyle of an ascetic monk while you’re job hunting again? Maybe you still want to go out with friends, or more importantly, attend networking opportunities.

In this case, it might be wise to err on the side of saving more money so that you can still afford these things. Conversely, if these factors don’t matter to you as much, you can get away with saving less.

Needs vs Wants: A Lesson in Essentials Assessment

Even if you don’t want to bump up your savings target to include everyday lifestyle expenses, you at least need to save a minimum amount. And for everyone, this amount will be different, because everyone has different needs.

To figure out what your basic needs are, tally up all the things that you really need to be able to continue on living. Things to include are:

  • Rent/mortgage
  • Necessary utilities (electricity, gas, water, cell phone, Internet, etc.)
  • Groceries
  • Transportation expenses

On the other hand, consider what you can cut out of your budget should you lose your job:

  • Restaurants
  • Unnecessary utilities (cable, HBO, etc.)
  • Entertainment
  • Fun money

Don’t Overfund Your Emergency Savings

We’ve given you some things to think about when deciding how much to save in your emergency fund. But also consider this: It is also possible to save too much money in your emergency fund.

For example, if your emergency fund is the only savings fund you have, you’re missing out on a lot of opportunities to save for other important things — namely, retirement. It’s a good idea to make sure you’re still saving money for your retirement, whether in a workplace 401(k) plan or an IRA. You may also have other goals you’re saving for, such as health care, vet bills, or a new car.

A Cash Reserve is Essential

Whether you choose a three-month or six-month emergency fund, one thing’s for sure: You do need a cash reserve of some sort and you can use this guide as a primer to help you figure out how much you need to save.

Also, keep in mind that no matter how much you decide to save, the most challenging thing is to get started. Once you get going, however, you can rest a bit easier. Just think: Even if you don’t have a fully-funded emergency savings account yet, every bit you save today will help keep you protected in the future.

 

8 Incorrect Ways You Might Be Managing Your Money

It’s easy to understand why we fall into habits.

We don’t have the mental bandwidth to make conscious choices about every little aspect of our lives, especially when it comes to money. So, we revert to our habits and save the big decisions in life for things like whether to watch Game of Thrones or The Good Place.

Habits can either be a good thing or a bad thing, depending on the habit. If you fall into good habits, you’ll essentially set yourself up on autopilot for a bright financial future. But bad financial habits? Over time, these can push you further away from your money goals.

Here are eight bad financial habits to stay away from.

1. Allowing Entertainment to Drive Your Spending

There are just so many entertaining ways to spend your money. Whether you go out for drinks with friends every Friday or purchase outdoor recreation gear on the regular, your paycheck can be entirely swallowed before you can say the word budget.

Yet, while spending on what makes you happy is important (it’s not an entirely unnecessary expense, after all), you do run the risk of overspending. This can bleed money away from your long-term goals, like saving for retirement. After all, you still want to be able to afford drinks with friends once you’re retired, right?

2. Living the “High Life” Without the Means

Ah, keeping up with the Joneses. This one is especially hard to resist as you start moving up in your career. As you get each new pay raise, it’s easy to upgrade your lifestyle. After all, you worked hard and you deserve it, right?

But it’s easy to get out of control if you don’t watch things. Sure, that BMW might be nice today and you may even be able to afford it, no problem. But what about when you also upgrade your lifestyle with a fancy new apartment, HBO, and yearly exotic vacations? Before you know it, you could end up in a mountain of debt.

3. Emotional Spending

There’s a lot of weird psychological science going on when it comes to shopping. It’s a hobby, for sure. Many people spend a lot of time and money on it, especially when they’re stressed-out, feeling down, or celebrating a lot of wins.

The unfortunate thing about emotional spending is that while it does lead to quick little boosts of happiness, in the long term it’ll dump you like a bad ex. That’s because it makes you more likely to spend past your limits, sucking money away from other goals and potentially putting you further in debt.

4. Not Saving for Emergencies

This is one of the biggest mistakes of all. If you’ve gotten this far in your life, you know that it’s not a question of if something bad will happen, it’s a question of when. An emergency fund is your best protection against a future bad event, whether it’s a job loss, a pet getting sick, a car breaking down, or an infestation of bees.

The biggest threat from not having an emergency fund is that you may go into debt to pay for whatever bad thing happens. But, by saving money in advance, not only can you gain some peace of mind, but you’ll also be able to afford those unexpected expenses without going into credit card debt.

5. Not Paying Off Your Credit Card Bill Each Month

Did you know that paying off your credit card bill in full each month means that you won’t have to pay any interest? It’s true. This is especially helpful when it comes to playing the credit card rewards game, because then you can truly earn your rewards without turning it into a losing proposition.

Furthermore, if you don’t pay off your credit card bill in full each month, it’s easy to put it off and rack up even more charges on your card. After all, you’re already in debt, so what’s a few more dollars? Over time, though, this mentality can land you in a whopping pile of credit card debt — not a fun prospect.

6. Not Saving for Smaller Goals

Sure, everyone is always stressing the importance of saving for emergencies and for retirement. They are two of the most important savings goals for most people.

But another mistake is not saving up for all of your other micro-goals. We’re talking about things like saving up for a new car, summer vacation costs, health care expenses, a down payment on a house, or holiday gifts. You know these expenses may be coming up (for better or worse), so why not start saving now?

7. Not Tracking Your Expenses

One way to guarantee that your dollars fly out of your wallet faster than Flash Gordon is to not track them.

You don’t necessarily need to create an elaborate budget or enter in every last purchase by hand each day. But it is a good idea to at least sign up for spending alerts through various apps like Mint or Personal Capital. This way, you’ll at least be warned when you’re spending too much money.

8. Letting Autopilot Run for Too Long

When it comes to your finances, it’s best to reassess your goals every six to 12 months and take a good, honest look at your financial goals. Then, you can dial into your expenses to see if your spending is matching up with your priorities.

It’s a good idea to shop around for new products at this time too. Can you get cheaper car insurance rates elsewhere? Are you still using your Amazon Prime subscription? Can you lower your dining out budget by just a tad, or are you happy with where it’s currently at? Should you shop for a new bank account if you’re currently paying fees?

Are You Ready to Drop Those Bad Habits?

If you’re ready to change your money habits, you can start by referring to this list of risky habits that aren’t doing you any favors. Then, re-evaluate your goals and adjust them accordingly. From here, you can tweak your bad financial habits and drop them like…well…a bad habit.

 

10 Best Money Books to Improve Your Financial Literacy

Some people seem to be naturally good at managing their money – they’ve always had cash in the bank and they actually enjoy budgeting.

On the other hand, there are those people who struggle with money. Maybe it’s due to a lack of financial knowledge, a drastic amount of debt, or simply feeling overwhelmed.

If you identify with the latter, you are not alone. In fact, in a recent study conducted by Student Loan Hero, just 43 percent of respondents stated they feel like they are financially successful. This means that a whopping 57 percent said they’re not financially confident. Yikes.

But here’s the good news: There are plenty of educational resources available, including excellent books that can help you gain more insight on your finances. Whether you’re looking to pay off debt, save more money, or start investing, there is a book for you.

Not sure where to start? Check out these 10 books that can help you improve your financial literacy.

1. Best book for millennials: Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry

Everyone has to start somewhere. Even if you’re relatively new to the financial scene, there are tons of quality books to help teach you everything you need to know. Yet, Erin Lowry’s book, Broke Millennial: Stop Scraping By and Get Your Financial Life Together, stands apart from the rest.

Lowry’s simple, conversational tone is certainly helpful, as she walks you through the basics of budgeting, picking the best bank for you, dealing with debt, preparing for retirement, and more.

2. Best book about student loans: Bye Student Loan Debt: Learn How to Empower Yourself by Eliminating Your Student Loans by Daniel J. Mendelson

Author Daniel J. Mendelson and his wife once had nearly $150,000 of student loan debt due to many years of graduate school and hefty interest rates. By creating and sticking to a simple repayment process, the couple became debt-free within five years.

In Bye Student Loan Debt, Mendelson walks you through his simple debt repayment system. And more importantly, the book will give you hope if you are feeling like you’ll never pay off your student loans.

3. Best book on frugality: 365 Ways to Live Cheap: Your Everyday Guide to Saving Money by Trent Hamm

Frugality is one way to fix your financial situation. By living on the cheap, you have more money for the things that are truly important to you.

Trent Hamm, founder of the blog The Simple Dollar, knows how to be frugal. Hamm credits frugality and mindfulness for overhauling his formerly dire financial situation. And, his book, 365 Ways to Live Cheap: Your Everyday Guide to Saving Money, offers some easy ways to save money in your day-to-day spending.

4. Best book for investing: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns by John C. Bogle

The Little Book of Common Sense Investing is the classic guide to getting started with the stock market. And, while you may not recognize the author by name, you certainly know of him – John C. Bogle is the founder of the investment company Vanguard. Bogle believes investing is for everyone, regardless of your education, income or experience.

While the stock market has its ups and downs, Bogle’s book has withstood the test of time. It is now on its tenth anniversary edition.

5. Best book for increasing your income: Hustle Away Debt: Eliminate Your Debt by Making More Money by David Carlson

While most financial books focus on saving, Hustle Away Debt offers a fresh perspective by teaching you about the importance of increasing your income.

Author David Carlson is also the founder of the popular millenial financial blog Young Adult Money. In his book, he details his secrets to getting out of debt by increasing his income through side hustles. If you’ve ever wanted to increase your income while learning new skills, then this book is a must-read.

6. Best book on budgeting: The Money Book for the Young, Fabulous & Broke by Suze Orman

Suze Orman is one of the original financial gurus. She has seven New York Times best sellers, but you may recognize her most from her television show, The Suze Orman Show.

Orman provides to-the-point, no frills financial advice. For those just learning to budget (or learning to stick to a budget), look no further than The Money Book for the Young, Fabulous & Broke. Orman walks you through everything you need to know.

7. Best book for couples: Money Talks: The Ultimate Couple’s Guide to Communicating About Money by Talaat and Tai McNeely

Relationships and money are often a neglected topic. In fact, in a study by CreditLoan.com, over 30 percent of men and women hid a financial secret from their partners.

To say there is room for improvement is an understatement. That’s where Money Talks: The Ultimate Couple’s Guide to Communicating About Money comes in. This book hits on a sometimes sensitive topic. Not only does it provide valuable communication tips, but it teaches you how to set and achieve financial goals as a couple.

8. Best book for general financial advice: Total Money Makeover by Dave Ramsey

Dave Ramsey is one of the top financial writers out there. His book, Total Money Makeover, shows you how to take control of your finances in a simple 10 “baby-step” process, which includes paying off debt, saving for an emergency fund, starting to invest, and other financial goals.

Total Money Makeover provides foolproof, no-nonsense advice for anyone looking to improve their financial situation.

9. Best book for saving: Rich Dad Poor Dad: What the Rich Teach Their Kids About Money – That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

In the book Rich Dad Poor Dad, author Robert Kiyosaki outlines the lives of two men: his father, who was constantly broke, and his father’s friend, a wealthy entrepreneur. He believes “street smarts” can often be more valuable than a more traditional education.

Rich Dad Poor Dad challenges the conventional ideas of saving by providing information on how your current view of money can affect your future finances.

10. Best book for early retirement: How to Retire Early: Your Guide to Getting Rich Slowly and Retiring on Less by Robert and Robin Charlton

At the age of just 43, Robert and Robin Charlton were able to retire from their full-time jobs. They had worked a collective total of just 15 years. They now run a website, WhereWeBe.com while traveling the world.

Their book, How to Retire Early: Your Guide to Getting Rich Slowly and Retiring on Less, is designed to help others do the same thing they did. They outline repeatable steps that anyone with a full-time job can implement. Overall, they aim to communicate that retirement is not just a dream. It’s achievable.

 

5 Ways to Help Bridge the Wage Gap

What’s better than watching your hard-earned dollars hit your bank account on payday?

Not much – except that if you’re a woman, checking your direct deposit pay stub can be a letdown. Why? Because the gender pay gap – or the gap between what men and women earn – is very much alive and well. This means that you could be earning more money for doing the same job you do right now.

This is why it’s important that we understand the premise behind Equal Pay Day and learn how to raise awareness about paycheck inequality. Equal Pay Day, which landed on April 2 2019, symbolizes how far into the year women had to work in order to earn what men earned during 2018. This means women had to work for three more months just to earn the same amount as their male counterparts!

How Wide Is the Gender Pay Gap?

According to the American Association of University Women (AAUW), women in the U.S. who work full-time year-round make 80% of what men do.

When earnings for men and women are broken down further, by ethnicity or for certain professions, the gap becomes more pronounced. Hispanic and Latina women, for example, face the biggest gap, earning just 53 percent of what the average white man does. In terms of career paths, the gap is widest among financial managers, with women earning 35 percent less than their male colleagues.

“The less money women earn over the course of their careers, the less money they’re able to save for retirement,” says financial coach Maggie Germano.

“To make matters worse, women live longer than men, so they have less money to stretch over a longer period of time,” says Germano.

The gender pay gap is closing, but slowly. In fact, it’ll take about 200 years for the gap to close completely, if earnings keep growing at the current pace. What does this mean for women who are trying to build up their savings and plan for the future now? Germano recommends that women start by negotiating a higher salary.

Here are five other ways to just say ‘no’ to unfair pay:

1. Dress the Part

Red is the unofficial color code of Equal Pay Day. It’s meant to symbolize how the gender pay gap keeps women in the red financially when it comes to what they earn. Wearing red to the office and encouraging your co-workers and friends to do the same is a simple way to show solidarity for women workers and the equal pay movement as a whole.

2. Let Lawmakers Know You’re In Favor of Equal Pay

Closing the gender pay gap for good in the U.S. becomes easier when there are laws in place that require equal pay for men and women across the board. It’s up to legislators to introduce bills that can make these kinds of laws a reality. This is an opportunity for you to make a difference.

“You can lobby your politicians to pass equal pay laws,” Germano says.

“Individuals can make change at the micro level, but decision makers can make change at the macro level,” she says.

If you don’t know who your local and state legislators are, get to know them. From there, you can launch an email or letter writing campaign asking them to back the passage of federal laws for equal pay. If you want to do more than just write letters, you can create a petition championing equal pay and submit it to the White House.

3. Encourage Your Employer to Open Up About Pay

Asking your cubicle neighbor how much he earns is generally considered taboo. But you can get a sense of the pay scale by going straight to the top.

Specifically, this means asking your employer to be transparent about compensation for different roles within the company. When pay scales are transparent, this can help raise awareness about what does or doesn’t constitute equal pay.

But don’t be surprised if you’re met with some resistance. Since 2010, the percentage of employers that disclose pay information on a wide scale to employees has been shrinking steadily. In a 2019 survey, just eight percent of companies said they planned to share pay ranges and employee pay information with all their employees.

Still, it’s worth making the effort. Reach out to your HR department and ask what pay range details are available. And encourage your co-workers to do the same.

“The workplace is a big place for impact when the voice for disclosures is coming from the employees themselves, and in particular, the male employees, knowing they also want a fair and equal work environment,” says Kristin Hull, founder and CEO of Nia Impact Capital, a women-led registered investment advisor firm.

Hull also says that the call on the part of investors for companies to share disclosures is leading to improvements.

“Once companies decide to disclose their data, they actually take a look at it, and are more likely to make internal improvements when they’re being public about their pay gaps,” she says.

4. Give Equal Pay a Social Media Shout Out

Let your followers know you’re in favor of equal pay by launching a social media blitz.

Tweet to your lawmakers asking for equal pay legislation. Repost news articles or studies on equal pay to your feeds. Take a poll asking your followers what they think about the gender wage gap. Upload a video clip or a host a short live feed letting people know why the wage gap needs to be closed.

You can even share this article!

5. Donate for the Cause

Last but not least, you can show your support for equal pay by donating to a nonprofit that advocates for women and minority workers. It doesn’t have to be a huge donation; just something to show that you care about making the wage gap a thing of the past.

If you’re looking for organizations to donate to, consider Equal Pay Today, the National Women’s Law Center or the AAUW.

How Will You Show Support for Equal Pay?

Are you ready to do your part to close the gender wage gap? You can start by using these five tips to help women earn and save more money.

 

The 11 Best Money Lessons from Our Favorite Personal Finance Bloggers

Sometimes the best way to learn about money is through experience. How do you get this experience? One good way is to read personal finance blogs and listen to podcasts from money experts.

But, want to know how you can start learning more right now? We’ve hit up some of our favorite personal finance bloggers and asked for their top money lessons. Take a look:

Lesson #1: Changing your money mindset is everything

When you think about money, you may just think about the numbers. But what if you took it a step further and looked beyond the numbers?

For example, your mindset, behaviors, and spending patterns all affect your money management style.

“The best money lesson I’ve learned over the past few years is that your money mindset is more important than the number in your bank account. If you fear money or think you’re terrible with money, that will become true,” says family finance expert Catherine Alford.

“If you have a positive money mindset, believe you deserve raises, and believe you can learn what you need to know about money, that will also become true. Personally, I prefer the latter,” says Alford.

Start by writing down your money beliefs and look at how they may be holding you back. If you try to re-write your money story, this may end up positively affecting your financial life.

Lesson #2: The money isn’t always worth it

Have you ever dreamed of earning more? Or have you ever thought “Once I earn more money, I’ll be happier?”

It’s easy to get into the trap of “I’ll be happy when…” But this can be a dead end road. Tori Dunlap, founder of Her First $100k learned that doing something just for the money isn’t always worth it.

“I took a job for the money after negotiating $20,000 more than they offered. There were serious red flags during the interview process that I choose to ignore because I thought the money would be worth it,” explains Dunlap.

“Long story short, it wasn’t. I ended up having to quit after only 10 weeks without another job lined up because it was so toxic. Money is important, but it will never make up for a horrible environment you spend 40 hours a week in.”

So next time you get lured by a paycheck, remember you still want to own your peace and happiness. Yes, we all have to do some jobs we don’t like, but money can’t fix all of your problems either.

Lesson #3 Pay yourself first

When you get paid, it seems like bills and life take every cent you earn. How can you start saving when it seems like you have nothing left over?

Although it can be tough, this requires action. And paying yourself first is something that you can do starting now, says K. Wright, personal finance freelance writer and founder of Money the Wright Way.

“My best money lesson: Pay. Yourself. First. This is a concept I still struggle with, as I am accustomed to paying bills first. It’s hard to practice when you have a million other financial obligations, but if you don’t set aside money for you, who will? Should you find yourself in a financial bind, you can bet the landlord, Sallie Mae, and the water company won’t be around to give back the money you paid them. Even if it’s a few dollars every payday, make yourself a priority,” she says.

Start by automating your savings and pay yourself with every paycheck. You can do this easily with Chime, and this way you can save effortlessly.

Lesson #4: Discipline leads to freedom

Money can be used to open up doors and be a tool of freedom. But in order to manage your money and unlock that freedom, you need discipline. That’s a lesson that Richmond Howard, founder of PF Geeks learned.

Howard realized that discipline isn’t something that has to feel restricting. Rather, it’s something that can help you get through hard times or support causes you’re passionate about.

“The discipline I have with my finances now has given me the chance to freely give to causes I support and to help family through hard times. The truth is that financial discipline leads to financial freedom. Sticking to our budget and finding ways to save money doesn’t constrict us,” he says.

To start, create a budget and track everything you spend. Write down your goals, and this way you’ll know what you’re working toward.

Lesson #5: Not all advice is worth it

Have you ever fallen down a personal finance rabbit hole and read 20 articles, each with conflicting advice and ideas? You don’t know what advice to take or where to go.

Blogger and accountant Eric J. Nisall learned how to be discerning and break through the noise.

“Not every piece of advice is meant for you. Not every person should be giving advice,” he says.

“It’s important to vet the source and see how you can adapt the information to fit your specific situation. It’s perfectly ok to pass on tips that others find helpful if it simply doesn’t fit with your personal preferences or situational needs,” says Nisall.

So next time you’re evaluating a piece of advice, understand how it can be used in your situation and take it with a grain of salt.

Lesson #6: Focus on your mental health, not just money

Money is important, but not at the expense of your mental health. If you’re pinching pennies and not taking care of your well-being, you’re doing it wrong. If you are working yourself to the bone to try to get ahead and avoiding your needs, money is meaningless.

“My #1 money lesson is that your mental health is more important than money. As important as it is to have your finances in order, there are limits to this,” says Bob, who only uses his first name at his blog, The Frugal Fellow.

“If you reach a point where you can no longer do what you’re doing, it’s okay to take a step back. That is actually what I’m doing right now, and I couldn’t be happier. You have to take care of yourself because if you don’t, money won’t do you any good.”

Lesson #7: Invest in yourself

Investing in yourself now can pay dividends later. You never know how a small action can compound and lead to future returns.

So, take the time, money and effort to invest in yourself now, says Martin Dasko of Studenomics.

“Invest in yourself whenever possible. You won’t always see immediate results. You’ll always be further ahead. A $20 investment into a book or a lunch meeting can go a long way. You never what action today will change the course of your future,” he says.

Say yes to that meeting, invest in your education or business, and know that you’re playing the long game.

Lesson #8: Automate your payments and savings

Getting your finances in order takes discipline and work. But you may not be good at staying accountable and doing the work to set money aside for a rainy day. That’s why automating your savings as well as your payments can help you get ahead.

“For me, automating my payments and savings was crucial to any success I’ve had to date. It removed much of the anxiety I was feeling when paying bills and frees up my energy to focus on positive things, like goals and gratitude,” says blogger Erica Henkel at The Lady in the Black.

To make automating easy, you can start by signing up for a Chime bank account.

Lesson #9: Do a mid-year check in with your money

Managing your money is a process and not something you set and forget. That’s especially true when managing your income and your taxes.

Doing a check-in mid-year, or even every quarter, can help you avoid tax trouble. The key is to track, review, and reassess.

“My wife and I once ended up owing a big tax bill. It was primarily due to one of us working a couple of part-time jobs that withheld little to no money for taxes, as well as it being the first year we had significant side hustle income,” explains David Carlson, founder of Young Adult Money.

“The lesson learned was to always do a mid-year checkup to see how much income we’ve made (both at our 9-to-5 jobs and through side hustles) and compare that to how much has been withheld. If you do this in the middle of the year, you still have time to make adjustments that can help you avoid a big tax bill, such as changing your allowances on your W-4, having additional money voluntarily withheld from your paycheck, or paying quarterly estimated taxes,” says Carlson.

Lesson #10: Save for emergencies

Life is full of the unexpected and money can be a lifeboat that helps you get through the tough times.

“My best money lesson was having an emergency fund. I’d read this in some personal finance books, and my parents urged me to save for one, so I did. I didn’t realize how important it was until I lost a job several years ago,” says Kristin Wong, author of Get Money: Live the Life You Want, Not Just the Life You Can Afford.

“I was relieved to have a cushion of savings to help me through it. It still felt awful to lose the job, but the financial burden wasn’t as heavy. That was everything,” says Wong.

Start saving for emergencies now by setting money aside each paycheck, even if it’s just $10. Ultimately, you should aim for three to six months worth of expenses saved.

Lesson #11: Boost your earnings

It’s easy to clip coupons and cut back as an initial strategy when working to save more money. But it’s not the only route, either, and there may be better ways to save more money.

Cutting back is just one part of the equation. Earning more is another.

“People with lower incomes might save as much as they can but still barely move the needle compared to high earners who save only a moderate percentage. Thus, my best money lesson is to strive to increase your earnings,” says Joyce Chou, personal finance writer at Financial Impulse.

You can do this by asking for a raise at work, picking up a side hustle on the weekends, or selling some of your items for cash.

Bottom line

Getting your money in order is tough work and can be a process of trial and error. Yet, heeding advice from these 11 lessons, you can learn how to make your money work for you. Are you ready to start saving more money today?

 

Money Mindsets That Are Keeping You Poor

The word “wealthy” conjures up images of depraved oil tycoons. Morose and isolated, these rich folks had to enjoy their wealth alone. At least that’s what I believed when I was a kid.

Growing up, I was taught to share pretty much everything with my older brother. To have more than him was considered selfish. And, if you were greedy, that was even worse. I made the assumption that rich people were inherently bad.

This myth blocked me from pursuing wealth. I figured it was better to earn a modest living and be frugal than bear the stigma of being rich and lonely. It was only after doing some inner work that I got past this limiting belief. I realized that having extra scratch doesn’t mean you’re greedy, selfish or unethical. Money merely enhances who you already are. And the more you have of it, the more freedom you can enjoy. To me, it’s all about syncing up your money to your values.

Chances are, you also have your own money stories that get in the way of your financial goals.

Here are five common money misconceptions that may be blocking you from achieving wealth.

You need a ton of money to start saving

While it certainly doesn’t hurt to have a healthy sum of disposable income, it isn’t a requisite to saving money.

The most important thing is to make it a priority and to start somewhere. Do I hear a grumble? Believe you me, saving doesn’t have to be difficult. And there’s a reason why “pay yourself first” is considered a pillar of personal finance. If you’re a Chime member, the Save When You Get Paid feature helps you tuck away a percentage of each paycheck.

By prioritizing savings over spending, you’re taking your financial well-being and your goals seriously.

You need to make a certain amount to get serious about finances

Once again, this is an easy excuse to not save money. It’s far easier to brush off saving until you make, say, $120,000.

When I was making $30,000 at my first job out of college, my rent in Los Angeles ate up a third of my income. But I still wanted to save money, so I started side hustles. And even though my side hustles raked in a mere $1,000 a year, I was committed to saving. By being judicious about what I spent my money on, I managed to save $5,000 my first year on my own.

When I started earning more, I kept the same habits and avoided lifestyle creep. As a result, I was able to make greater headway on my savings goals.

Other people have it easier

As they say, compare and despair. We all know someone who gets a generous allowance from their parents, or is making a cool six-figures at a posh job.

It may seem easier for them to build their worth, but appearances can be deceiving. You don’t know what debt load they carry, or if they struggle to stay on top of their bills like everyone else.

While you’ll need to get real and be honest with your own financial situation, everyone can start small. I’m a big fan of auto-saving, and there’s a reason why it’s recommended by personal finance gurus. Auto-saving is easy and you can start small. Five bucks in a cushion account adds up to $260 a year. Double your auto-savings amount to $10 a week, and that’s $520 annually.

I’m not privileged enough to focus on net worth

This is a bunch of bull. Earning more and spending less is something we’re all capable of. While we don’t have control over greater forces—tax codes, inflation, getting laid off—we do have agency in our saving and spending decisions, and in our ability to earn more.

Thinking that net worth is for a privileged few is getting in your way. If I was able to build my savings making very little, so can you.

To figure out your net worth, tally up your debt. This includes student loans, credit card debt, and car loans. Next, add up your assets—money you have sitting in savings, retirement accounts, savings apps, and so forth. Then, subtract your debts from your assets to determine your net worth.

It might be an unpleasant endeavor to find you have negative net worth. But it’s only in taking an honest look that you can work toward being in the green.

I’m an artist and will always be poor

Just because you have creative pursuits doesn’t mean you will always be stuck in the poor house. By fusing your vision and talents with entrepreneurism, you can make a decent living.

From freelancer marketplaces to online platforms, there are tons of resources to help you build your own business. Granted, being a self-employed creative or artist does come with its own host of challenges. For one, you’ll likely have to deal with variable income. Because your cash flow can change month to month, it’s tough to stay on top of bills and save for anything.

Chime can help. With its Get Paid Early feature, you can get direct deposits up to two days early. In turn, this can help you pay your bills on time.

Bust those myths today

Busting harmful money mindsets can help you earn more, save more, and land you in positive net worth territory. Just remember: Building your net worth may be a slow and steady climb. So, stay the course and over time, you’ll move closer to your financial goals.

 

What Is Financial Literacy? And Why Should You Care?

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The majority of Americans are illiterate.

Not in terms of basic reading — most of us can do that — but in terms of our finances.

When the FINRA Education Investor Foundation asked more than 25,000 Americans six simple questions about personal finance, 63% failed. Millennials fared the worst, with a passing rate of just 24%.

This lack of financial literacy is, understandably, having a huge impact on our country. Many of us are paying high bank fees, falling behind on our bills, drowning in debt, and failing to save for retirement. Clearly, something needs to change.

We’re here to help by breaking down what financial literacy means, why it matters, and how you can improve yours. Read on to learn more.

What Is Financial Literacy?

Financial literacy is the ability to understand your money.

When you’re financially literate, you have a grasp on concepts like budgeting, saving, investing, credit, debt, insurance, and interest. And, with a bit of basic knowledge, you’re able to make smart financial decisions about taxes, retirement, real estate, and college.

To Jill Fopiano, CEO of O’Brien Wealth Partners LLC, financial literacy means “the ability to understand and manage important areas of your finances so that you can meet your financial goals.”

This includes financial jargon, too.

“It is as important to be an educated consumer of financial products as it as for any other major purchase,” says Fopiano.

Knowing the difference between a Roth and traditional IRA, or compound and simple interest, for example, can significantly affect your financial future.

Why Does Financial Literacy Matter?

You may think personal finance is boring or unimportant. If you whole family is “bad with money,” you may even think you’re doomed to follow in their footsteps. But the truth is you can transform your life by learning basic financial concepts.

“Financial literacy is the foundation of a life where you feel secure and safe enough to do what you want,” explains Bobbi Rebell, a certified financial planner and host of the Financial Grownup and Money in the Morning podcasts.

“If you don’t have the information, you can’t create a path to your goals,” says Rebell.

For many, one of those goals is retirement. Whereas most Americans used to receive post-retirement benefits from their employers, fewer than 20% of today’s private sector jobs come with pensions. This means you’re responsible for your own future. And, this isn’t something that’s easy to do. In fact, the median amount of retirement savings for a working family is a paltry $5,000.

In addition to affecting your future, financial illiteracy can harm you in the present, too. Take a look:

  • In 2018, the average American lost $1,230 due to a lack of knowledge about personal finance.
  • A shocking 39% of millennial women do not pay their bills on time, resulting in costly late fees and interest charges.
  • A dearth of general financial knowledge, according to one study, cost investors $200 billion over the past 20 years.

“Financial literacy is really about empowerment,” says Fopiano.

“The more you know, the more able you are to make good decisions, avoid sketchy offers, and secure your own future.”

Four Steps to Increase Your Financial Literacy

Since only 17 states require high schools to teach personal finance, it’s important to take your education into your own hands. Here are four steps to help you get started.

1. Devour financial media

As Rebell says, “Becoming financially literate is easier than ever because of the incredible resources we all have access to.”

Feel free to consume information in a way that suits you best. Maybe you’d like to listen to podcasts during your commute; maybe you’d rather watch videos on your days off.

Here are some recommended resources:

2. Take it slowly

Financial literacy is like a tall mountain: You’re not going to reach the summit right away — or maybe ever. The best you can do is take it slowly, tackling one topic at a time.

While you should get a basic grip of personal finance as soon as possible, don’t dive deep into every topic at once. That would be overwhelming, and could discourage you from progressing further.

“Pick an area that is particularly relevant to you — say, budgeting — and commit to mastering it over the next three months. Once you have accomplished that, move on to the next area,” says Fopiano.

3. Ask for help

You probably wouldn’t try to fix your plumbing on your own. Or try to learn chemistry without a teacher. The same goes for money. Although teaching yourself is a fantastic way to get started, you may eventually need some professional assistance.

“This doesn’t have to be a self-study course,” says Fopiano.

“If you are really serious about getting your financial future in order, and could benefit from a sound financial plan, seek out a certified financial planner,” she says.

If you’re not ready for human help yet, turn to financial technology. Use Mint to create a budget and track spending, Charlie to monitor your finances as a whole, Credit Karma to track your credit scores, and Chime to save automatically.

4. Stay curious

The key to financial literacy is, of course, education.

If you dream of becoming financially secure, and stable, and maybe even wealthy, you should keep learning. You should continue your education by reading about personal finance, seeking professional help, and using technology that simplifies the process.

This is your money, after all, and it affects every single aspect of your life.

“Financial literacy is about knowing the right questions to ask. None of us have all the answers, but if we have the right questions we can get there,” says Rebell.

 

How to Handle No Spend Sundays Like a Boss

Fun fact: Sunday is my favorite day of the week. Yes, I know it’s dangerously close to Monday. But, I still look forward to it because it’s a chance to treat myself after working for five days and then side hustling on Saturdays.

Yet, while I love Sundays, it’s easy to get caught up in my favorite day off and blow right through my budget. Let’s look at a hypothetical scenario of how quickly spending can add up on a typical Sunday:

Coffee – $5

Brunch – $50

Groceries – $75
Gas for the week – $30

Total: $160

When multiplied by four, this adds up to $640 a month or $7,680 a year. Yikes.

If this type of spending looks familiar to you, then a No Spend Sunday may be just what you need in order to boost your savings goals. If you’ve never tried one of these challenges before, don’t worry – we’ve got you covered. Keep reading to learn how to navigate a No Spend Sunday in 5 easy steps.

Step 1: Separate Wants From Needs

First, it’s important to understand the definition of a No Spend Day.

Think of it like going on a diet but for your finances. It means that you eliminate (or scale back on) anything that’s non-essential to your budget. For me, based on the above hypothetical list, I would cut out coffee, brunch and challenge myself to lower the amount I spend on groceries. Gas would remain on the list as a “need.”

Now it’s your turn: Take a step back and write down all the activities you normally do on a Sunday that cost money. Place a checkmark next to the ones that are essential and an “x” next to the spending you can do without.

Step 2: Get Creative

Kristy Runzer, CFP® and Founder of OnRoute Financial, says that the key to surviving a money challenge like a No Spend Sunday is to get creative and find things to do that will bring you happiness without the price-tag.

“So, for example, let’s say that you typically enjoy going out to eat with girlfriends to fill the need of wanting to spend time with those closest to you and simply have fun. On a (No Spend Sunday), instead of spending money at a restaurant, you could meet up with your girlfriends at the park or hang out at someone’s house. The end result is the same – you fulfill the underlying need to connect, without feeling guilty about your spending,” says Runzer.

Sami Womack, Founder of A Sunny Side Up Life, also agrees that “having fun doesn’t have to cost money.”

Some of Womack’s favorite free activities include:

  • An at-home spa day
  • Hiking
  • Reading a book
  • A movie night at home
  • Subscribing to a new podcast
  • Spring cleaning your closet
  • Doing a pantry/freezer cleanout

Step 3: Get an Accountability Partner

It’s so much easier to stay the course with just about anything when you have extra support.

If you can’t find a friend or family member who wants to hop aboard the no spend train with you, then look no further than social media. Many money coaches and personal finance bloggers host money challenges throughout the year that you can participate in. All you have to do is search #NoSpendDay or #NoSpendWeek, etc.

Step 4: Give Your Savings a Purpose

When saving money, it’s important that you save for a specific purpose. Yet, oftentimes folks miss this when they survive a savings challenge.

So, let’s say you decide not to eat out or go to the mall during your No Spend Sunday. Estimate your savings by looking at how much you would normally spend on each of these activities.

Let’s say the total is $100. At the end of the No Spend Sunday, transfer $100 into a separate savings account until you figure out what to do with it (pay down debt, put it in your summer vacay fund, etc.) This way the money isn’t just floating around in your checking accounting, tempting you to spend it on things you probably don’t need come Monday.

Step 5: Keep Building Those Healthy Money Habits

The benefit of a spending challenge is that it teaches you money mindfulness.

“Every day, but especially on weekends, it’s easy to spend money without thinking twice. You don’t realize (the damage) until the credit card bill comes and you’re left with a spending hangover,” says Runzer.

“Putting even a little bit of thought into what you’re spending or wanting to spend on and why really goes a long way. This is truly empowering because it puts the choice and the control back in your hands. You get to make money decisions from a place of knowing where things are going and what they’re doing for you,” she says.

From here, you can make incremental changes that positively affect your finances over time, rather than trying to make a drastic overnight change. This is exactly what Lauren Tucker, Founder of An Organized Life has done. She started out with a No Spend Friday, then a No Spend Week, until she worked her way up to a No Spend Month.

“It’s definitely been a process,” says Tucker.

“But starting small is the best way to introduce a new habit,” she says.

“Everyone’s definition of a no spend (challenge) can vary, but for me, it means that I refrain from purchasing anything that’s not in the budget or that I have already identified to spend in my miscellaneous spending category.”

Tucker plans out her month using a Google Keep Note where she outlines what she intends to spend with any discretionary income. She also tracks her success each day and shares her monthly results on her social media feed.

Bonus Tip: Pay Yourself First

After my husband and I completed our first no spend challenge, we realized that one of the reasons we would overspend is that we had too much money left-over in our checking account after paying our bills. That money was just hanging out, waiting to be spent.

That’s around the time I learned about the importance of paying yourself first. This means that we save first before doing anything else. By doing this, it reduces the amount of “extra money” we have left in our checking account and forces us to be more conscious of how we spend – especially on the weekends.

We still incorporate no spend challenges every now and again, especially when we have a specific money goal, like saving for a vacation.

We challenge you to try out your own No Spend Sunday for yourself and see how much money you can save!

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