There are plenty of tips and tricks out there to help you improve your savings habits, from creating a budget to setting up automatic transfers from your checking account after every paycheck.
But researchers from the Stanford Graduate School of Business have a new one for you: Embrace the power trip.
It’s perfectly O.K. to be nervous or maybe even scared that you’ll do exactly the wrong thing with your big bonus, inheritance or tax refund. But take a deep breath. It’s actually not that complicated.
Meet Joe – an ordinary guy, much like the rest of us, who has both short-term and long-term savings goals. Joe wants to get organized, make a plan and stay on track so that he can have money on hand for the things that matter most to him. This video outlines the simple steps Joe can take to set up a realistic spending and savings structure that works best with his lifestyle.
Without a budget, your financial picture is at best muddy. At worst, you might find yourself overspending, racking up credit card debt and feeling confused and anxious about your situation. But a good budget gives you the confidence and a blueprint to live the life you want.
It's tempting to spend money to keep up with your friends and family. But splurging can lead to stress if you don't plan ahead. Check out this infographic for strategies to help you indulge on occasion without the guilt.
Whether you’re pulling your hair out because you can’t seem to save enough money for your emergency fund or you’re having a hard time dealing with your significant other’s spending habits, various types of money anxiety can be triggered by what one expert labels as “thinking traps.”