Many people often daydream about living in another country, perhaps on a tropical island or maybe in an idyllic villa in Europe, either to get away from their mundane lives or to retire somewhere more affordable. But how much does it actually cost annually to live in different countries around the world? Methodology To find … Continue reading How Does Cost Of Living Compare By Country?
Building up an emergency fund is an important step towards financial security. It means that you are no longer living paycheck to paycheck and you have a buffer in case you are faced with a large, unexpected expense. Unfortunately, most Americans do not have an emergency fund. In fact, most people do not even have … Continue reading How Do Savings Account Balances Compare By State
Many stay-at-home moms (and stay-at-home dads too) leave the workforce to raise their children. Some of them choose to do so to be more involved in their children's upbringing, and others for financial reasons, such as the high cost of childcare. More recently, many working moms are staying at home temporarily to care for their … Continue reading How to Make Extra Money as a Stay-at-Home Mom
Income levels differ across the country, so depending on where you live, it may not make sense to compare yourself to the national average. Instead, it's more helpful to see where you fall compared to other individuals in your state. To facilitate this, I generated geographical heat maps using data compiled by 24/7 Wall St. … Continue reading How Average Income Compares By State
Many of you have likely heard of the FIRE movement, which stands for Financial Independence, Retire Early. However, do you know what financial independence means? I previously published an article about what it means to be financially comfortable, but financially independent takes it a step further. In simple terms, it means that you are no … Continue reading What Does It Mean To Be Financially Independent?
Why Target? I have become a fan of Target lately. At first, I only shopped for baby products (e.g., diapers, baby food, toddler clothes and shoes) at Target. It makes sense to shop there for those things--it is a one-stop shop for all of them, and products are priced fairly. However, when I examined my … Continue reading Five Money Saving Tips for Shopping at Target
My wife and I recently received our stimulus check. For anyone who doesn't already know, the amount this time is $1,400 for an individual earning up to $75,000 and $2,800 for a married couple earning up to $150,000. You also get $1,400 for each dependent. This was the largest of the stimulus payments we have … Continue reading Top 6 Ways To Use Your Stimulus Check In Order Of Priority
2020 was a good year for us savings-wise. We managed to save 30% of our income, which is significantly better than the national average for 2020 of 16%. This is even more impressive considering our income is rather mediocre. According to the 2019 Consumer Expenditure Survey by the U.S. Bureau of Labor Statistics, the average … Continue reading Despite Earning Below Average Income, We Saved 30% Last Year. Here’s How
According to USDA's most recent report, Expenditures on Children by Families, 2015, otherwise known as "The Cost of Raising a Child," the estimated clothing expenditures on a child could be as high as $960 per year for a married-couple household with less than $59,200 of before-tax income. In fact, the report also points out that … Continue reading Five Places to Look for Used Kidswear
According to a joint survey by the Association of Young Americans and AARP, 55% of Americans spend equal to or more than they earn, which means that more than half of Americans are not able to save any money at all on a regular basis. But where does this money go? What are the common … Continue reading How Do Average Americans Spend Their Paychecks?