Financial literacy is crucial to our wellbeing. Some of us can use some help and reminders to improve our financial knowledge
We are here to help across all four components of financial literacy: (1) financial knowledge, (2) numeracy and literacy skills, (3) attitudes towards finances, and (4) habits and behaviors.
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Sleep + Finance
Key Takeaways: I believe better sleep (a component of a healthier lifestyle) and better personal finance are related. Sleep deprivation has become a badge of honor in American society, and it has severe consequences on health and wealth from personal experience. Prioritizing sleep could generate positive results across all aspects of life, including finances. Sleep…
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Asset Class 101
Key takeaways: There are four broad groups of asset classes that an investor can consider when developing an investment strategy The four asset classes are: equities (i.e., stocks), fixed-income (e.g., bonds, treasury notes), physical assets (e.g., real estate), and cash These four asset classes have different risk and reward profiles to consider. Think of an…
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Money is Time
Key Takeaways: The saying “time is money” is also true vice versa. Money is time. The guiding principle says to think of money in terms of the amount of time. Determine your real net hourly wage and use this metric to understand the implied “stored time” in various purchases to gain new perspectives. For many…
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Simplified Budgeting Approach
The budgeting process is not just a personal finance exercise. It’s also a self-discovery and goal prioritization journey. I think this is one of the reasons why it can seem daunting and why it’s annoying (who wants to know how much one spent on wine last month?). However, budgeting is critical to building financial success….
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Negotiate everything. Compare prices. Shop offers. Create options!
For every financial decision, it’s critical to negotiate and compare. Taking the time to do your research and shop around could result in meaningful savings. I have leased a car with $4,000 off a $38,000 MSRP. I achieved the discount by comparing prices and offers across dealerships in the region and all its counties. I…
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Never pay full price! Ways to do it and an example
Never pay full price… …unless necessary. It’s that simple. Never pay full price unless there’s no way around it. This concept is a fundamental principle and a beneficial personal finance habit. The seemingly small percentage of the full price accumulates over time and can become a significant sum to help push you forward towards your…