What Is an Emergency Fund? What Is an Emergency Fund? (image credits: flickr) An emergency fund is like a financial superhero, swooping in to save the day when disaster strikes. It’s a dedicated stash of money set aside specifically for those unforeseen expenses that life throws your way. Imagine your car breaks down or you ...
Materialism vs. Minimalism Materialism vs. Minimalism (image credits: unsplash) In many wealthier nations, the concept of success is often intertwined with material possessions. People in these societies may measure their worth through the accumulation of goods, such as luxury cars or large homes. This drive for materialism is frequently fueled by a consumer-driven economy that ...
Understand the Power of Mental Framing Understand the Power of Mental Framing (image credits: unsplash) The way you perceive saving can dramatically impact your financial habits. Often, people view saving money as a form of deprivation, a necessary evil that takes away from their current enjoyment. However, by reframing saving as a reward rather than ...
Financial Wellness: Simple Habits for Long-Term Success The Importance of Consistency Over Perfection The Importance of Consistency Over Perfection When it comes to financial wellness, consistency is your best friend. It’s not about making grand, one-time gestures like saving a huge chunk of your paycheck once in a while. Instead, it’s about the small, regular ...
What Are ETFs? What Are ETFs? (image credits: pixabay) Exchange-Traded Funds, commonly known as ETFs, have become a staple in the world of investing. These funds operate like a blend between a mutual fund and a stock. Just like stocks, ETFs can be traded on major stock exchanges throughout the day. What makes them unique ...
Emotional Triggers Drive Spending Emotional Triggers Drive Spending (image credits: pexels) Emotions are powerful drivers of human behavior, and spending is no exception. When people experience happiness, stress, or sadness, they often turn to shopping as a form of emotional release. This phenomenon is commonly known as retail therapy. The act of buying something new ...
Timing the Market Defined Timing the Market Defined (image credits: pexels) Timing the market is a strategy that involves buying and selling securities based on predictions about future market movements. The goal is to maximize short-term gains by capitalizing on anticipated price changes. Investors who choose this approach aim to buy low and sell high, ...
What Is the Wealth Gap? What Is the Wealth Gap? (image credits: flickr) The wealth gap is a term that describes the significant differences in financial resources and assets among people. It is a chasm that separates the rich from the poor, often influenced by factors like income, race, gender, and geography. Imagine a ladder ...
Supply Chain Disruptions Supply Chain Disruptions (image credits: unsplash) Geopolitical tensions are like unpredictable storms that can shake the very foundation of global energy supply chains. Conflicts, trade restrictions, or political unrest can create severe disruptions, affecting the flow of oil, natural gas, and other crucial resources. Imagine a vast network of highways suddenly blocked, ...
Basic Allocation of Income Basic Allocation of Income (image credits: flickr) The 50/30/20 rule is a practical approach to managing your finances by dividing your after-tax income into three distinct categories. First, 50% of your income should be allocated to necessities. These are essential expenses like housing, utilities, groceries, and transportation. These are the things ...
Jack Smith, B.Sc. Economics
Jack Smith, B.Sc. Economics
Jack Smith, B.Sc. Economics