Here are some articles that caught my eye this week…
Are you making any of these mistakes?
Knowing your weaknesses and having someone to hold you accountable is key.
Food is one area where we potentially have the most ability to affect our budget either positively or negatively. Nothing wrong with enjoying a mean out once in a while but continually eating out can really put a dent in our ability to succeed. Meal plans are one way of getting those food costs under control.
It is absolutely critical that everyone have some form of health care insurance. Few things can land you in bankruptcy court quicker than a major medical issue with no insurance. Unfortunately, health insurance can be very expensive. The Affordable Care Act has helped some, but many still struggle to afford coverage. Healthcare-sharing ministries can be an option for some that find themselves in this boat. Technically, these programs are not actually insurance, but more like co-ops where members pitch in to help pay other members’ bills. This can sometimes be a lower cost alternative that can at least protect you from catastrophic medical bills.
Whether we actually believe these or just live as if they are true, many of these principles are at the heart of why so many people never can manage to get ahead.
If you are young, the lesson is start now. Retirement may seem like something a lifetime away, but if you start at a young age building up a comfortable nest egg is so much easier. If you are not so young, it is still not too late. Get your debts paid off and start saving. There is an old proverb that says the best time to plant an oak tree is 20 years ago. The second best time is today. Consider the alternative. If you feel you are too old and you do nothing, you will have nothing. But if you start saving, even albeit a little late, you’ll still be better off than if you had not saved at all.