Some articles that caught my eye this week…
Super list of links on thebettermom.com site. It includes ways to save on utilities, groceries, vacations, entertainment, clothing, frugal meal planning ideas, and tons of other topics.
There have been many studies that have shown people tend to spend less with cash than when swiping a card. Parting with Uncle Benjamin actually triggers the pain centers of the brain. Interestingly enough though the cleanliness of our money can actually affect our spending. The way people spend a brand new bill is different than how they spend an old, dirty crumpled one. Thought this study was fascinating.
There are many financial advisers that say you shouldn’t pay off your mortgage early because you could be investing that money and getting a higher rate of return. The problem is those calculations rarely factor in risk. When you add risk, the difference isn’t that great and you are forfeiting the peace of mind that comes from knowing your home is paid for. Plus for me as a Christian, I believe the Bible clearly teaches that God says debt is unwise and you should try to pay it off as quickly as possible.
One of the most important things we can teach our children are the skills they will need to wisely handle money. I think many parents neglect this because they feel inadequate and may have never really had anyone teach them when they were young. Involving our children in our financial decisions in an age appropriate way (both our successes and our mistakes) is a great way to help them learn.
One more reason why reverse mortgages are a bad idea.
If you are in the market for electronics, don’t be taken in by these myths.