Tag: budgeting rules

Millennials are surprisingly Frugal

In general, millennials have a new dilemma in reaching the valuable 18-34 year old age group. With new research following the pandemic showing that they are less materialistic than their predecessors and more concerned with health, well-being and achieving career goals. This research might conflict with what has been stated already. It is because several studies show that they have faced one setback after another. Stagnant wages, ballooning student loan debt, and increased medical and […]

Budget or be Broke!

Budget or be Broke! The whole budgeting discussion is not a pleasurable conversation. Most people budget for an objective, such as a car, college, and even home but rarely keep the same drive and focus. It is very easy to fall off track especially without someone keeping and holding you accountable for your actions or inactions.   The financial discipline to stay on task and is often at times impossible one might say. A new […]

The Cost Of Financial Illiteracy Part 2

In our part one of the costs of financial illiteracy, we looked at the story of R. Kelly a popular R&B singer to emphasize America’s lack of knowledge concerning budgeting and saving.  We continue exploring this problem by looking at the Literacy Project.  The Literacy Project s a nationwide organization that works to address and fix America’s financial illiteracy. Recent statistics show that the number of Americans who are “functionally illiterate” (Meaning they can read […]

The Secret of the B.r.o.k.e. code

“Grow your money, don’t blow your money.” This is a quote associated with the author of the newly released book: The Secret of the B.r.o.k.e. code. Her name is Constance Carter. Mrs. Carter is a remarkable and compassionate woman that happens to be a wealth advocate and budgeting connoisseur. Every wealthy family has that one family member that broke the chains of poverty for future generations. In Constance’s family that was her.  Through sheer determination […]

The 50/30/20 Rule of Thumb for Budgeting

You’ve reviewed your spending and created a budget, and now you know exactly how much you spend on your home, your car, discretionary spending, and how much you divert to your retirement accounts. That’s all good, but what about other savings, such as for an emergency? How does your financial allocation compare to the amount you should ideally spend and save? Harvard bankruptcy expert Elizabeth Warren- U.S. Senator from Massachusetts and named by Time Magazine […]