Budgeting with Bipolar: Financial Highs and Lows

When it comes to managing finances, individuals with bipolar disorder face unique challenges. Bipolar disorder, characterized by alternating periods of elevated mood (mania) and depression, can significantly impact a person’s ability to make sound financial decisions. During manic phases, an individual might be prone to impulsive spending, taking on debts, or making high-risk investments. On … Read more

The Crucial Role of Investment Diversification

Diversification is key in investing, spreading investments across various assets, industries, and locations to manage risk and seize opportunities. Benefits include mitigating risks, capitalizing on diverse market cycles, and achieving long-term goals. Common mistakes to avoid include overdiversification, ignoring correlation, and neglecting rebalancing. Embrace diversification for a balanced and resilient portfolio.

Making Major Purchases Without Sinking into Debt

The financial landscape poses challenges for many Americans, with 55% unprepared for major expenses. Managing big purchases involves personalized saving methods, quality investment, prudent research, and avoidance of impulsive buys. Creating a designated account, utilizing savings tools, and considering long-term value are key strategies. Anticipating and planning for significant expenses ensures financial stability and peace of mind.

The Heart of Money: An Insight into Behavioral Economics

Behavioral economics is like the vibrant underpainting of a traditional economic canvas. It adds depth and color to the otherwise black-and-white world of traditional economics, painting a more holistic and realistic picture of how we make financial decisions. Simply put, behavioral economics is the study of psychology as it relates to the economic decision-making processes … Read more

How to Rebuild Your Credit Score from Scratch

watch your credit score

Credit: a five-letter word that carries immense weight in our financial lives. A good credit score opens doors to opportunities – from securing a mortgage to getting a favorable loan rate. But what happens when your credit score is less than ideal? Whether it’s due to past financial mistakes, unexpected hardships, or simply a lack … Read more

How to Communicate About Finances With Your Loved Ones

financial communications

In our journey through life, one of the most complex and often uncharted territories is that of financial communication with our loved ones. Money, an entity so deeply intertwined with our emotions, dreams, and fears, often becomes a source of tension in relationships. But why is talking about finances so fraught with difficulty? It’s not … Read more

Digital Coupon Clipping: Maximizing Savings in the Online Era

digital coupon savings

In the ever-evolving landscape of e-commerce, the age-old practice of coupon clipping has undergone a digital transformation. Gone are the days of meticulously cutting out coupons from newspapers and magazines. The digital era has ushered in a new wave of online coupon clipping, offering savvy shoppers a plethora of opportunities to save money with just … Read more

Shared Dreams, Shared Dollars: Financial Planning for Couples

When I first met Aaron*, a client of mine, he was at his wit’s end. His relationship with his wife, Rebecca*, had hit rocky waters, and most of their disputes were about money. Aaron, a conservative spender, believed in saving for a rainy day and meticulously budgeting every dollar. Rebecca, on the other hand, was … Read more

How to Avoid Online Scams

Shot of an unrecognisable hacker using a laptop to hack into a credit account.

As our lives become increasingly digital, the opportunity for cybercriminals to infiltrate our financial security also grows. Online scams can take many forms – from phishing emails to fraudulent websites. Protecting your finances in this virtual landscape requires vigilance, knowledge, and proactive measures. In this article, we’ll discuss some effective strategies to help you avoid … Read more

The Unique Financial Challenges of Generation X

As a member of Generation X, the “sandwich generation,” I can attest to the unique financial challenges we face. We are often balancing the costs of raising children, supporting aging parents, and planning for our own retirement. Our financial responsibilities seem to pull us in multiple directions, making financial wellness feel like an elusive goal. … Read more

Teaching Kids about Money

As a mother, I have come to realise that one of the most important life lessons we can impart on our children is financial literacy. Picture this: if we consider life as a complex puzzle, then understanding money is like having the corner pieces. They’re not the whole picture, but they give you a place … Read more

Parenting on a Budget: My Journey as a Single Mom

Mother and daughter celebrating Christmas eating a cupcake

As I sit here today, a certified financial psychologist, author, and advocate for financial wellness, I can’t help but reflect on the winding road that brought me here. It’s a journey punctuated by highs and lows, moments of despair, and flickers of hope. But there’s one aspect of this journey that profoundly shaped who I … Read more

Conquering Fear on Your Financial Empowerment Journey

Hey there, dear readers! Let’s explore the emotions that arise when we confront the unknown and discover strategies for overcoming fear and embracing financial empowerment. In life, we often encounter moments that stir up feelings of uncertainty and apprehension, and when it comes to our finances, fear can have a powerful grip on our decision-making. … Read more

The Influence of Generational Wealth

Generational wealth refers to assets that are passed down from one generation to another. This wealth can take many forms – income, property, investments – and provides financial stability and opportunity to recipients. While generational wealth has many benefits, we must understand its larger impact on socioeconomic equity if we aim to create a just … Read more

10 Personal Finance Lessons from ‘The Wire’

The Wire financial lessons

HBO’s ‘The Wire,’ acclaimed for its gritty portrayal of life in Baltimore, is more than just a crime drama; it’s a treasure trove of lessons in personal finance. Set against the backdrop of the city’s drug trade, the show digs into the complexities of urban life, touching upon themes of money, power, and survival. While … Read more

The Financial Impacts of Remote Work

family bonding during quarantine

In the wake of a global shift towards remote work, many of us are reevaluating our daily routines and, crucially, our financial landscapes. The rise of working from home, once a luxury, has become a norm for a significant portion of the workforce. This seismic shift brings with it a mixed bag of financial implications. … Read more

10 Financial Fallacies That Are Keeping You Broke

Fallacy 1: I Don’t Earn Enough to Save The truth is, saving isn’t about how much you earn, but about how you manage what you earn. Even if your income is low, developing a habit of saving even a small amount regularly can add up over time. Fallacy 2: It’s Too Late for Me to … Read more

My Worst Financial Mistake

We asked our readers to confess to their worst financial mistakes. Here are our 10 favorite responses (edited for clarity and privacy): These anecdotes serve as a reminder that financial decisions should be made with caution and thorough research. It’s easy to get swayed by emotions or external influences, but taking the time to evaluate … Read more

10 Crucial Steps To Go from Renter to Homeowner

going from renter to home owner

The American Dream is often synonymous with owning a home—a private space to call your own, where you build equity instead of handing over a rent check each month. But making the leap from renter to homeowner isn’t just about amassing a down payment and signing on the dotted line. It’s a complex journey that … Read more

I Want To Shop Local – But How?

Young African American woman shopping at a local city street market

I hope this email finds you well. I’ve been an avid reader of your column, and I really appreciate the practical advice you provide to help people make smart financial and lifestyle choices. So, here’s the thing: I’ve recently been inspired by a movement in my community that emphasizes the importance of shopping locally. I … Read more