One of the fascinating aspects of human societies is how people are driven to create holidays that involve mandatory transfers of wealth. We’re heading into the insanity of the many year-end holidays celebrated by different groups in the United States. One of the financial questions raised by this is, how big a problem is overspending… [Read More]
Blog
Category: Financial Advice
Save up and be happier when you spend
Saving up for things is terribly old-fashioned. Yet, like many old-fashioned things, it’s good for you. When people pay upfront for the things they want, they enjoy them more. In part that’s because people are more careful about what they buy when they pay cash. They buy things they really want rather than things that seem… [Read More]
Tracking your expenses is a simple way to figure out your finances
Tracking your expenses is the easiest way to get started on a financial plan. Try keeping track of all your income and all your outgo for a month. Get a small notebook and start writing down all of your expenditures, no matter how large or how small. Write down all of your income, too, including… [Read More]
Should you give your kid an allowance?
Learning to manage money is a fundamental skill for navigating the world. It is as basic as learning to read and learning to cook, and yet, it comes with a lot of baggage. An allowance is one way to learn. Yes, I wrote about high finance in Hedge Funds For Dummies. I’m writing a book about options… [Read More]
Thoughts on Your Money or Your Life
Years ago, I was on a business trip and killing time at a bookstore before a client meeting. I saw Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Ind ependence: Revised and Updated for the 21st Century by Vicki Robin and Joe Dominguez on the shelf, and… [Read More]