How to Apply Maslow’s Heirarchy to Your Money This Year

Hierarchy of Needs

You might vaguely remember your psychology teacher talking about Maslow. He pointed at a picture of a triangle as you nodded off in the back of the school room.

But that triangle might mean more than you think. Today, I’ll give you a refresher course on Maslow’s Hierarchy of Needs and tell you how this applies to your money. If you’re missing a rung in this ladder, this might be the “aha” moment you’ve been seeking.

This post has been written by Jamie Jeffers, our talented staff writer. Enjoy!

Maslow developed his needs theory in the 1940s and 50s. Psychologists, teachers, businessmen, and others have used his theories to help motivate people ever since.

The theory is often portrayed as a pyramid with a wide base. The bottom needs should be fulfilled first. Without basic needs being met, it will be harder to motivate someone to care about the . . . → Read More: How to Apply Maslow’s Heirarchy to Your Money This Year

How to Have a Healthy Conversation About Money with Your Spouse

Have a healthy conversation about money

Whether you’re preparing to get married or you’re celebrating your silver wedding anniversary, money will always be a challenge in your relationship. It can be the source of hurt, but it can also be the source of enormous growth. That growth begins with one healthy conversation about money at a time.

Did you know that the number one source of conflict in the first few years of marriage isn’t in-laws, children, or religion? It’s money.

Also, the more debt brought into a marriage, the greater potential for strife. How many young couples do you know who are crazy about each other, but they’re tying the knot with six figures worth of combined student loan, credit card, and/or auto loan debt?

Perhaps that describes you? Now, you may be wondering how you’re supposed to tackle such a mountain, let alone develop healthy communication skills about finances. Here are seven nuggets of . . . → Read More: How to Have a Healthy Conversation About Money with Your Spouse

6 Reasons to Start a Blog in 2017

Start a Blog in 2017

It’s time to stop making excuses. You know that you’ve wanted to start a blog for years, but you’ve continued to tell yourself the following lies:

I’m too busy It costs too much money Nobody’s going to read my stuff I can’t build a webpage – I can barely log into my email!

Lies, lies – every one of them! In fact, let me quickly dispel them one at a time here:

I’m Too Busy

How many hours of TV do you watch per day on average? 2-3 hours? Cut your cable and subscribe to Netflix for $10 (if you MUST watch something). There, not only did I just free up 20 hours of your life each week, I saved you $100 a month.

It Costs Too Much Money

Starting a website costs just $23.88 for your entire first year. That’s less than $2.00 per month. I’m pretty sure you . . . → Read More: 6 Reasons to Start a Blog in 2017

Run Toward What You Love, Not Away From What You Hate

Run Toward What You Love

There’s an epidemic going around the blogosphere these days. Its basic premise is this: “Work hard for just 5 years at a job you hate, save up a ton of money, and then you can quit and retire forever.”

It’s spoken by individuals like Mr. Money Mustache and Jacob from Early Retirement Extreme – not to say that they’re lying, they’ve actually done it. They’ve scrimped and saved and invested heavily (and I mean EXTREMELY heavily – like 75%-80% of their income), and they’ve been able to retire long before their 40th birthdays.

Good for them.

But is this the best route for you? Should you be working crazy hours and having no fun today so that you can simply escape your hated life? Or is there a better way to go?

Run Toward What You Love, Not Away From What You Hate

I enjoy writing Sunday posts on my . . . → Read More: Run Toward What You Love, Not Away From What You Hate

How The Debt Snowball Really Works (Free Tool Included For YOUR Debt Snowball!)

The Debt Snowball

Want to get out of debt fast? Then commit to the debt snowball.

You might be thinking, “Oh yeah, yeah, I’ve heard of the debt snowball. It makes sense – you pay off your debts one at a time until they’re gone. I got it.

No, you missed it. You missed it entirely.

How the Debt Snowball Works

The debt snowball is about more than just paying down your debts one at a time. There are three major elements to the debt snowball:

Your initial lump-sum contribution Your contribution each month Laying out your debts – from smallest to largest

And you know what? Interest rates have pretty much nothing to do with the debt snowball. Do you know why? Because paying off debt is 80% emotional and 20% logical. Paying off debt is more about immediate progress than it is about math. All you nerds out there, just trust . . . → Read More: How The Debt Snowball Really Works (Free Tool Included For YOUR Debt Snowball!)

5 Things That Throw People Into Debt (and How to Avoid Them)

Avoid Debt

No one wakes up one day and decides to go on a spending spree, ready to max out all their credit cards at once. While that might make a good reality show, it’s not the reason Americans owe $12.12 trillion in debt.

We can argue about “good debt” versus “bad debt”. But the truth is most Americans owe money month after month. And it’s dragging down our ability to build wealth.

Our own family owes a variety of debt. We’ve got credit card bills, car payments, and student loans. It wasn’t done lightly, but from a sense of necessity (real or not).

So why are so many people in debt? It’s because they react rather than prepare. They know they should be saving for a rainy day, but the sky sure looks clear right now! There’s no sense of urgency without an emergency.

Just as we study history to . . . → Read More: 5 Things That Throw People Into Debt (and How to Avoid Them)

How to Set Your Kids Up for Financial Success

 

“If you give a hungry man a fish, you feed him for a day, but if you teach him how to fish, you feed him for a lifetime.“ – Lao Tzu

When I think about what is required for financial success and how I can teach that to my kids, my head starts swimming. There really isn’t very much in my control when they leave home; however, I can do a few things early that will ensure my children have the right foundation.

Why?

Because three-fourths of Americans are living paycheck to paycheck. Student loan debt is at crisis levels. Credit card debt is a staple in nearly every home.

Advertisers are going to invest as much time and resources as possible to convince my kids that they need to buy their stuff. I need to spend as much time and resources as possible to ensure they know how . . . → Read More: How to Set Your Kids Up for Financial Success

5 Ways to Make Your Home a Blessing

Nobody will tell you this, but it seems to be an unwritten rule that the bigger the house, the happier life will be. In almost every case, I would argue that the opposite is true.

Your family, the laughs and giggles, the adventures, and all the spontaneous fun…they have absolutely nothing to do with how many bedrooms and bathrooms your house has.

5 Ways to Make Your Home a Blessing

I have lived in our home for just over five years. I bought it as a foreclosure for cents on the dollar, fixed it up, and have enjoyed the warmth of its shelter ever since. It’s not huge and it’s not overly fancy, but it is dry, paid for, and makes me smile every time I walk into it. This house is truly a blessing.

So how did we make it this way? How did we make our home a . . . → Read More: 5 Ways to Make Your Home a Blessing

How Many Years of Retirement Are You Wasting With That Purchase???

 

“It’s only $250 a month!”

“No money down!”

“0% interest for 36 months!”

We salivate at the thought of sitting behind the wheel of that brand new, shiny, sleek, smells-like-heaven automobile…ahhhHHHhhrgh (I’m sorry, I couldn’t help but drool a moment).

How Many Years of Retirement Are You Wasting?

I’m with you. I absolutely love the feel, the sound, the touch, and absolutely the look of new cars (or boats, quads, snow sleds, wave runners – whatever it is that you fancy), but would I pay $250 a month to satisfy my childish cravings?

Not in a million years.

The True Act of Payments

Here’s what you’re doing when you decide to make payments on something:

**You look at that shiny car, check your pockets, and realize your only asset is pocket lint**

**You glance sheepishly at the salesman…**

“Ummmm, I’m sorry, I don’t have any money right now, but . . . → Read More: How Many Years of Retirement Are You Wasting With That Purchase???

8 Habits That Make or Break a Debt Free Journey

Moment of honesty: I created this list of habits that make or break a debt free journey pretty easily. Can you guess why?

Because it’s MY list. I’ve messed up on each one of these items at least once. ::cough:: Definitely more than once.

Over the last several years, I’ve developed some stronger habits, which ultimately led to my husband and I getting out of debt when I was 25. However, living a life of debt freedom doesn’t end with a paid off credit card. It’s a lifestyle.

In order for my husband and I to stay strong on our debt free journey (since we’re back in debt with our first mortgage), there are some habits we’ll need to keep practicing. If you’ve been down this road, then you know what I’m talking about.

8 Habits That Make or Break a Debt Free Journey

The following is a list of . . . → Read More: 8 Habits That Make or Break a Debt Free Journey