Personal Finance

Better Finances for a Better You

Topic: "Financial Goals"

← Curating the web to find the most interesting and helpful information about your money.

Word of the week

FIRE (Financial Independence, Retire Early)

FIRE is an acronym which stands for Financial Independence, Retire Early. FIRE is a lifestyle movement with the goal of gaining financial independence and retiring early.

How to retire as early as humanly possible →

Saving

Has your financial situation changed? Has your income decreased? Are you looking to save money for a project? It may be the perfect time to review your budget and adopt new habits to save money. Here are 35 tips to help you!

35 tips to help you save money →

Budgeting

When to make a budget:

  • Significant changes in your personal life
  • Job status has changed
  • When you don't know where your money is going
  • Find it difficult to save regularly
  • Your debts are escalating
  • Your feeling overwhelmed by your finances
  • Feel like you’re not in control of your money and debts
  • Thinking about a major purchase
10 Tips to Save Money →

Saving

Meeting a big financial goal can feel daunting and confusing. How do you make an effective plan when life gets in the way?

Saving NPR Life Kit Podcast: How to save for a financial goal →

Saving

The new year is a great time to update your budget, say financial experts. Here's what you can do to curb your spending, save for emergencies and keep your investments on track.

Saving NPR Life Kit Podcast: Refresh your budget with these simple finance tips →

Investing

Why work with a financial advisor

Managing your investments can be difficult. You may not be comfortable investing on your own. A professional financial advisor or planner can help you.

Choosing a financial advisor →

Budgeting

9 financial New Year’s resolutions to set now and achieve in the new year from Alexandria White

  1. Save more
  2. Improve my credit score
  3. Create a personal budget
  4. Pay off credit card debt
  5. Pay my full credit card balance each month
  6. Track my credit card applications
  7. Check my credit score more often
  8. Check my credit report more often
  9. Sign up for a credit monitoring or identity theft protection product
Alexandria White of CNBC Select reviews the top financial New Year’s resolutions and how you can achieve them. →

Infographic of the week

How Americans of Different Generations Spent Their Money in 2021

Most consumer spending falls into the larger categories of food, housing, transportation, healthcare, and other goods and services.

How Americans of Different Generations Spent Their Money in 2021 View the interactive version of this chart highlighting how different generations spend money →

Serious stuff

How to donate to a charity with purpose and intention. Kevin Scally of Charity Navigator has some advice to help you make the right decisions. His group evaluates the effectiveness of over 200,000 nonprofit organizations.

Donating to a charity is a lot like voting for an issue you believe in — except you're voting with money →

Saving

Tired of overspending? Want to cut expenses without giving up your favorite things? Here are a variety of creative ways to save money on everything from food to getting married.

31 Creative Ways To Save Money from Forbes ADVISOR →

Saving

8 Money-Saving Tips, According to Wirecutter’s Expert Deal Hunters:

  1. Track prices
  2. Be persistent
  3. Search for coupon codes
  4. Maximize credit card perks
  5. Sign up for shopping newsletters
  6. Ditch rarely used memberships and subscription services
  7. Keep track of where your money is going
  8. Invoke the power of price-matching policies
Every day, the Wirecutter Deals team scours the internet for legit discounts on Wirecutter’s expert-recommended picks →

Budgeting

It's important to write down your financial goals. The act of noting goals helps put them in perspective. Think about dates to reach your goals in terms of three buckets: - Short-term (2 years or less) - Medium-term (3 to 5 years) - Long-term (6 years or more)

Set goals and track your progress over time →

Investing

Financial advisors agree: These are the 3 best investing tips for beginners

1. Audit your finances before you even start to invest 2. Utilize retirement accounts as much as you can 3. Know you don’t have to be an expert

If you’re just getting into investing, consider these 3 tips. →

Infographic of the week

Visualizing U.S. Wealth by Generation

The distribution of wealth is an important measure of the economic power of each generation. In the U.S., for example, baby boomers own half of the nation’s $156 trillion in assets despite making up 21% of the country’s population.

Visualizing U.S. Wealth by Generation Visualizing $156 Trillion in U.S. Assets, by Generation →

Budgeting

Why create a budget? - To accomplish a financial goal - To save money - To reduce expenses - To understand your true relationship with money better Invest the time in yourself and create sound financial practices that can last you a lifetime.

Budgeting is the first step towards financial wellness →

Infographic of the week

The Most Expensive Starbucks Items in the World

Your daily coffee habit is probably costing you a lot more than you think. What if you skipped buying two coffees a week and invested that money?

The Most Expensive Starbucks Items in the World The Price of (non-essential) Big Bucks Starbucks items in USD →

Saving

"A $5,700 wedding dress for $64. Expensive baby items for a fraction of the price. Construction materials to renovate a home."

Saving Podcast: Save money and the planet: How thrifting can help combat inflation →

Budgeting

What to consider before you start a budget: - Think about your financial goals - Identify your short-term and long-term goals - Make saving for those goals part of your budget

Take these simple steps before you make your budget →

Saving

In 2022, the number of people moving to Alberta hit its highest level in almost a decade. At the same time, a record number of people left Toronto for other provinces.

Saving Podcast: Why millennials and Gen Z are Alberta-bound for a more affordable life →

Infographic of the week

Charting the Relationship Between Wealth and Happiness, by Country

Throughout history, the pursuit of happiness has been a preoccupation of humankind. Of course, we humans are not just content with measuring our own happiness, but also our happiness in relation to the people around us—and even other people around the world.

Charting the Relationship Between Wealth and Happiness, by Country Does money really buy happiness? Let’s find out →

Serious stuff

SMART financial goals help you identify exactly what you want and how you plan to achieve it. SMART goals are: - Specific - Measurable - Achievable - Relevant - Time-Based

Start setting SMART goals and track your progress over time →

Budgeting

Making a budget can help you balance your income with your savings and expenses. It guides your spending to help you reach your financial goals.

Why make a budget →

Saving

A first home savings account (FHSA) is a registered plan allowing you, as a prospective first-time home buyer, to save for your first home tax-free (up to certain limits). You will be able to open an FHSA starting April 1, 2023.

Saving First Home Savings Account (FHSA) →

← Curating the web to find the most interesting and helpful information about your money.