There are lots of reasons to avoid store-specific credit cards, including high interest rates and the heightened possibility of identity theft. But those drawbacks mainly apply to people who aren't already practicing good personal finance.
Though 'Retail therapy' is a tempting way to deal with job and life stress, it's only a temporary solution and can worsen problems long-term. Instead, engage in healthy activities to de-stress, Hamm explains.
Home ownership can be a great investment, but it's also a giant money and time pit, Hamm writes. Whether you decide to rent or own, make sure you think about it carefully.
Living on Ramen or doing a money-free weekend is something you can sustain for a short burst, but it’s also very valuable in terms of figuring out what you actually enjoy in your day to day life because it forces you into new experiences, Hamm writes. Sometimes new experiences, even under pressure, are just as good as the old ones.
In personal finance and in life, setting an 'impossible' short-term or mid-term goal drives people to achieve something more than they would have ever believed that they could, Hamm writes.
Worrying about making the 'right' investment often prevents people from getting started on their investment. But the key thing is to start investing now and to contribute as much as you can, using frugality to your advantage, Hamm writes.
Many people live their lives aiming for a day in the far-off future when they feel settled in their finances, Hamm writes. What's your financial target, and how do you plan to get there?
Halloween offers parents an opportunity to teach their children to make better eating and purchasing decisions, Hamm writes.
A person with no dependents surely has a different financial strategy than a husband with three children. Hamm analyzes the differing rationales behind the financial decisions of a single man and a father.
A lot of people freshly out of college face the difficulty of having more debts than assets, Hamm writes. The key to handling negative net worth is to focus on forward progress, not the overall total.
The only way to make money consistently online is to produce a lot of content on a very consistent basis, Hamm writes. You have to treat making money online like a second job.
In most cases, bringing lunch to work instead of buying it at a restaurant is a far cheaper option. But there are a few exceptions.
Goal-setting can be an important part of achieving success. But like anything, you can overdo it.
The fear of being confused about 401(k) plans keeps a lot of people from making the simple but vital move to simply sign up for a plan, Hamm writes. Here are four questions to ask when signing up for a 401(k) plan.
Spend less than you earn. At its core, that’s really what personal finance all boils down to, Hamm writes. But while personal finance advice might be simple, but it’s rather hard to implement.
Understanding the routine or pattern that leads to a spending mistake can help you find a resolution. If you walk into your favorite boutique every time you go to the bank, your resolution could be as simple as changing your parking place. Hamm explains how to change your routine so as to avoid repetitive spending mistakes.
Hiring the right financial planner can be a very daunting task, Hamm writes, with a sea of titles and acronyms out there and many advisors clouding the water with clever marketing. How do we know if we’re hiring a good financial planner?
Dinner parties and other events depicted in magazines and television events take several extra hours of planning and preparation. Not to mention a lot of extra money.
Some say you don't actually have to pay your income taxes, or that a certain company or investment is sure to make you rich. Beware these three financial traps, Hamm writes.
For big purchases, there are lots of ways to ensure getting the best value. But what about small, day to day decisions? Three tips for making the right 'spur of the moment' purchase.