A few years ago, David Bach coined the phrase “Latte Factor” in his book, The Automatic Millionaire. Latte Factor refers to the small expenses that drain money from your wallet without you noticing such as buying coffee. Even though it is called the Latte Factor, it can refer to many things such as bottled water, [...]

JD Roth from Get Rich Slowly has done several blogs asking readers what they spend on different categories. Every one is in different circumstances, so even though your spending may appear to be out of line when compared to others it may work for your life. He writes these posts to get a general idea [...]

The Suze Orman Show airs on Saturday nights on CNBC. One of the segments of the show is “Can You Afford It” where people call in with their income, debt and other information and what they want to purchase. Suze then tells them if she thinks they can afford to spend the money. Last night, [...]

One way to either save money on bakning mixes for your own use or to give as gifts is to make your own. As in this post with a little time you can mix up the dry ingredients for recipes with instructions for wet ingredients and baking directions to use in the future. You can [...]

To many people budget is a bad word. But if you learn how to start a budget and see how it can work it will make managing your money easier. I spoke to a group of college students today on budgeting, spending and other topics. One example I mentioned is from Dave Ramsey. If you [...]

Many people think I disapprove of spending money on anything. I like to relate budgeting and spending to dieting. Just as with dieting you need to consider your calorie intake and amount of exercise you get. With budgeting you need to consider your income and the fixed expenses you have. Once you deduct your fixed [...]

Recently I saw a post online about 50 money habits everyone should have. Of the 50 habits, I have listed 10 of them below. 1. Opening your bills when you get them. 2. Spending less than you earn every month. 3. Keeping a budget. 4. Paying your bills on time to avoid spending money on [...]

Just by taking a little extra time throughout your day, you can make many of your daily experiences into learning moments for your kids. Some examples are: – At the bank, explain what you are doing when you make a deposit or withdraw/transfer money. – When dining out, explain tipping. In the book, “Money Doesn’t [...]

What are your financial values? When we know what are values are and what is important to us it is easier to understand why we spend our money the way we do. To learn more about your financial values take the LifeValues Quiz. The quiz consists of 20 multiple choice questions pertaining to the four [...]

In most cases, your financial health doesn’t depend on how much you earn, but how much you spend. Your fixed expenses will be the same each month and can’t be changed but you may be able to make changes to your variable expenses. Many people do not pay attention to how they spend their money [...]