Almost every single American is earning an extremely large income each week. You may think I am joking, but I am dead serious. If your family earns more than $40,000 a year, you are officially one of the top income earners in the world. Sure, you definitely aren’t Bill Gates, but you are earning so much money that you can afford two cars, a home, electricity, indoor plumbing, and probably even air conditioning. What a luxurious life you have!
Mr. Money Mustache is an amazing blogger that recently opened my eyes to the many opportunities that Americans have . . . → Read More: You May Not Believe Me, But Debt is NOT a Financial Problem
Did you know that your entire financial future can be summed up with just two emotions? Your purchases, investing, saving, giving, earning, and spontaneous spending, can all be explained because of a couple basic emotions known to each one of us. However, because many of us cannot control these two emotions, we end up unhappy and broke, but have a lot of stuff.
The First Emotion: Fear
When student first graduate from college, they are met with one of the biggest challenges of their entire lives: finding their first career job. Sure, there have been jobs before, but . . . → Read More: Our Entire Financial Future, Controlled by Two Emotions
Our culture today is all about making a large income and buying a bunch of stuff on credit to “enjoy life to the fullest”, but in my experience, this often leads to discontentment, stress, and a constant want for more. One would think that the higher income earners would have a ton of money socked away in the bank, ready to retire at any time, but this isn’t how it typically works is it? If one’s salary is $50,000 a year, they finance a new Chevy Malibu. If their salary bumps up to $100,000 a year, they finance . . . → Read More: How Quickly Could You Retire If You Had No Debt?
Have you ever heard of the term, “delayed gratification“? The term may sound a bit intimidating at first, but it is truly not a difficult phrase to understand. Simply put, it basically means that you avoid splurging today so that you can reap an even larger reward in the future.
The Marshmallow Test
Back in the late 1950′s, children (ages 4 to 6) were tested to see which of them could delay their gratification. Here is how the test went:
One child entered a closed room with a table and no other distractions. The adult that . . . → Read More: What is Delayed Gratification and How Important Is It?
Do you carry a credit card balance?
I know, I know — if you’ve been reading financial blogs for a while, it might be tough to admit that you carry a balance on your MasterCard. But if you’re in that situation, it’s important to face the cold, hard truth.
(And check out the success stories that come from people who have paid off their balances. They’re incredibly inspiring.)
So — for the benefit and inspiration of anyone who might be carrying credit card debt — I’ve compiled a list of eight things that you can look forward to . . . → Read More: 8 Things You Can Do Once Your Credit Cards Are Paid Off
Colleges are ripping us all off. Tuition prices keep going up and our society keeps pushing kids into colleges around the world, because it is suddenly necessary for everyone to have a college degree. Personally, I think this is crap, especially since many of the jobs out there don’t really need someone that has been college educated. I know one young lady that wants to be a secretary. Instead of some quick on-the-job training, she is being pushed into a degree program that is going to cost her $50,000! Paying $50k for a $30,000/year job doesn’t make a . . . → Read More: 4 Huge Benefits of Graduating From College With No Debt