Articles for category: Personal Finance

The Psychology of Saving: How to Trick Your Brain into Building Wealth

The Psychology of Saving: How to Trick Your Brain into Building Wealth

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

Financial Wellness: Simple Habits for Long-Term Success

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 ...

The 50/30/20 Rule: A Simple Formula for Financial Freedom

The 50/30/20 Rule: A Simple Formula for Financial Freedom

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 ...