Taking the stress out of long-term expenses
Just as I graduated college, moved halfway across the country, and started my first job, a months-long string of bad luck hit me hard. My first week at work, I got hit with a thousand-dollar repair bill due to my car running into some serious engine trouble. A month later, I had a severe allergic reaction while traveling for work and had to be taken to the hospital. A few weeks after that, I spent hundreds on a night guard, which of course was not covered by insurance, to address my newfound stress-induced…
How we got here and what you can do to protect your money now
While we’re hopefully reaching the end of the global pandemic and the economy is beginning to get back on its feet, the record highs of the stock market can’t be fully explained by hopes of a swift recovery and a relatively frictionless return to normal alone. A full economic recovery has already been priced into the stock market since the initial market rally in the spring of 2020. Consequently, the driving forces behind these new all-time highs warrant a closer examination.
The underlying fundamentals of most…
I haven’t always been good with money. In fact, up until about two years ago, I was downright terrible with it. Worse still, my years-in-the-making shopping problem showed no signs of slowing down and nearly landed me in a mountain of debt. It wasn’t until I got hit with a few unexpected expenses and left a miserable job that I realized just how precarious of a position I’d put myself in. From then on, I realized not only that my inflated lifestyle could not continue, but that I also had to fundamentally change my mindset.
While I initially embarked on…
A definitive guide to earnings season
January 19, 2021
Bank of America, Goldman Sachs Group, Halliburton, Netflix, State Street, J.B. Hunt Transport Services, Comerica, Zions Bancorp., and Interactive Brokers Group
January 20, 2021
UnitedHealth Group, Procter & Gamble, Morgan Stanley, United Airlines Holdings, U.S. Bancorp, Bank of New York Mellon, Discover Financial Services, Kinder Morgan, Alcoa, Citizens Financial Group, Fastenal, Plexus, and BOK Financial
January 21, 2021
IBM, Travelers, Union Pacific, PPG Industries, Truist Financial, CSX, Charles Schwab, Fifth Third Bancorp, CommScope Holding, KeyCorp, M&T Bank, Northern Trust, Intuitive Surgical, SVB Financial Group, Citrix Systems, and People’s United Financial
No, these two terms are not interchangeable.
Since arriving at a 60% savings rate on an entry-level salary, I’ve been called both cheap and frugal by my friends and family far more times than I can count. While being cheap and frugal may look very similar at times, the reality is is that being cheap and frugal require fundamentally different habits, motivations, and mindsets. Fortunately, the bifurcation between cheap and frugal can be illustrated in five statements.
Frugal People Think Long-Term While Cheap People Can Often Be Short-Sighted
While both cheap and frugal people love to save their hard-earned cash…
From confronting my demons to finding a support system and a few healthy hobbies, here’s how I got control of my mental and financial health — once and for all.
Beginning in my teens and stretching through college, I got in the habit of buying things left and right, sometimes for no other reason than to make me happy in the moment. Because of how gradually my habit formed and intensified, it took years for me to realize just how damaging the practice was to my mental and financial health.
A few months into my first job out of college…
I recently closed the book on a months-long job. I knew that I was kicking off my search in a tough market, and staying consistent in my efforts over several months would be a challenge. But I was unprepared for my interview experiences to run the whole gamut between challenging yet professional and downright hellacious.
While interviews should be challenging in nature and provide your prospective employer with an accurate assessment of your fit with the company, interviewers behaving badly during the selection process isn’t something to ever be tolerated. …
Simple swaps that save me thousands a year
They think about everything in terms of cost per use
Rather than caring only about finding the cheapest price, truly frugal people consider the total value of an item over its lifetime, relative to its price today.
For example, when I needed to buy new blouses for work last year, instead of heading to a fast fashion retailer like H&M or Zara, I opted for one made by Everlane that was on sale and purchased it in five colors. Although my cart cost me about 30% more at Everlane than it would…
Here’s what I learned…and why I’ll be back for Christmas
In typical me fashion, I broke up with my ex the week before Thanksgiving, and the more general holiday season, was slated to start. Considering the fact that a fight was what ended our relationship, I wasn’t expecting to bury the hatchet and become best friends with my ex — all in the space of a few days. And only a week ago, I was fully prepared to Zoom my family back east for an abbreviated virtual celebration.
On just the second day of our newfound friendship, my ex brought…
Here’s when “just friends” actually makes sense
Back in January, I met my dream guy. Or so I thought. He was handsome, kind, funny to boot, and valued hard work and frugality just as I do. Six months in, we were already planning to move in together, adopt a dog or two, and get married within a year.
While to our friends we seemed like the couple straight out of a Hallmark movie, we were both drowning in self-imposed pressure and resentment.
From the beginning, I saw him as the perfect human being. And I assumed he expected me to…
Hi, I’m Rachel. I’m passionate about beauty, personal finance, and how the two often intermingle.