Get a Raise Last Year? Choose Savings Inflation and Not Lifestyle Inflation
A salary raise often tempts workers to upgrade their lifestyle, a phenomenon known as lifestyle inflation. The article argues that channeling the extra income into "savings inflation"—increasing emergency funds, investments, and debt repayment—yields far greater long‑term benefits. It cites the habits of wealthy individuals who treat windfalls as opportunities to build financial security rather than to fund new consumption. A personal anecdote illustrates how the author’s family chose to keep spending flat and let their savings grow, moving them closer to financial independence.
Do You Model Good Financial Behaviors For Your Kids?
The article stresses that parents must actively teach children money fundamentals rather than assuming they’ll learn on their own. It highlights a personal anecdote about a teen learning interest through a borrowed‑allowance experiment and introduces four core lessons: assigning a...
10 Tips to Get the Best Deals on Used Furniture
The article outlines ten practical strategies for securing the best deals on used furniture, emphasizing the importance of planning, thorough inspection, and flexibility in style choices. It highlights cost‑saving opportunities through minor repairs, upholstery updates, and sourcing from hotel liquidators...
6 Frugal Travel Tips From Frequent Flyers
Frequent flyers share six practical ways to trim the hidden expenses of air travel, from avoiding checked‑bag fees to cutting airport parking costs. They advise packing only a carry‑on, parking at remote lots or using rideshares, and bringing your own...
3 Dangers of Completely Automating Your Finances
The article outlines three major risks of fully automating personal finances: losing awareness of spending habits, incurring fees from overdrafts or missed payments, and overlooking errors or identity‑theft activity. While automation streamlines bill‑pay, savings, and investing, it can create a...
How a Low Cost of Living Provides Me with More Freedom
After divorcing, the author relocated from Pennsylvania to a medium‑sized Idaho town to benefit from a lower cost of living. The move cut commuting times, allowed her to work fewer hours, and gave her more time to support her son’s...