Spending is money allocated to lifestyle purposes. It includes food, shelter, clothing, utilities, transportation costs, debt payments, dining out, entertainment, health care, and other categories that maintain your standard of living. When spending exceeds income from all sources (deficit spending), you are required to borrow money.
#8 of 13 Things People Can Do with Money | by WealthPhase
Even as housing affordability takes a hit nationwide, you can still buy a house with a monthly mortgage payment of $1,000 or less in some major U.S. cities.
In this show, Joshua Sheats discusses a rational analysis of new car vs. used cars.
The best online checking accounts offer competitive interest rates with low fees and easy access. Here's the Consumerism Commentary list of the best options for 2018.
If you want to build wealth, think like a billionaire. Warren Buffett built his wealth snowball by understanding the power of compounding and opportunity costs.
You could be overpaying for everything from entertainment to insurance. Here's how to hold onto more of your money.
Lauren Greutman loves ALDI grocery stores! She is actually kind of obsessed with them, and she makes that very well known. In fact, she has created entire Aldi meal plans surrounding their products. Did you know you can save even more money at Aldi using 5 super secret ways?
If you're looking to make some changes at home while adding some additional savings to your account, here are five ways minimalism can help you get on your way.
Two culinary and budgeting experts share 10 tasty ways to cook more and eat better while spending less on groceries and saving money.
Joshua Sheats rakes a new car buyer over the coals for spending $51,000 on a brand new truck.
Are you frugal? Or, do you like to waste money? By wasting money, I mean spending well beyond your needs. Try a few of these 11 tips.
These bad behaviors are hard to break — but if you don't, they could break your finances.
CheapAir provides an annual 'When to Buy' study that breaks down the different "zones" of purchase including the "prime booking window" - otherwise known as the best time to buy.
Creating a "do not buy" list will totally change your shopping game — and help you save tons of cash.
How can an ordinary person, with an ordinary salary, get so far ahead of their expenses that new paychecks simply lay, unused, on top of the pile? The answer is bit by bit. Get creative...
High-quality clothes don't have to be expensive. J.D. Roth recently talked with a group of friends about how they find the good stuff for cheap. Here's how. (Be sure to read the comments.)
Awareness keeps you on track when bad money habits creep up, and if you don’t use it, you lose it! So try out these three exercises to help you slow down—and hopefully stop—the urge to spend.
Go to lots of movies? MoviePass claims to offer unlimited movie tickets for one low monthly price. Is it a scam? Consumerism Commentary answers that question in its MoviePass review.
A home is typically the largest single investment you’ll ever make, and you’ll likely spend a lot of time and energy searching for the perfect place. By the time you're ready to buy, you'll already know a lot about the house. All the same, a talk with the seller(s) can fill in details that help you make a better decision. Here are the ten most important questions to ask.
Learn exactly how to dispute credit card charges for merchant errors and credit card fraud in 3 steps.
Being locked into a cell phone contract is no fun. Here's how to get out of a cell phone contract without paying an early termination fee.
What if reducing the amount you drive or getting rid of your car entirely could quite literally be the most important financial decision of your life? The real cost of commuting and owning a car could be costing you hundreds of thousands of dollars over your lifetime!
The pursuit and purchase of physical possessions will never fully satisfy our desire for happiness. There are many reasons buying stuff won’t make us happy.
A typical budget dictates to you what you can spend, where, and when (“We have used up our gas budget for the month so we cannot drive to the beach this weekend.”). Plus, tracking expenses turns many off. A spending plan allows you the control of your money every single month. Also, it realizes that your purchases change and expenses vary from month to month and that a one-size-fits-all monthly budget doesn’t truly fit anything.
Researchers from the USC Schaeffer Center for Health Policy and Economics and the RAND Corp. found that consumer-directed, high-deductible health plans have little or no effect on curbing spending on 26 services that medical professional and industry groups have deemed "low value."
Do you hate meal planning and grocery shopping? Do you eat out more than you should as a result? HelloFresh is a good way to enjoy good-tasting meals at home. Although not cheap, they are less expensive than most casual dining restaurants—especially if you want to enjoy a beverage or glass of wine with your dinner.
J.D. Roth cut the cable 10 years ago. This article explains how to watch TV without cable, but also points our that "subscription creep" can minimize the actual savings.
Here's what he does with the money instead.
A flexible spending account (FSA) can be an alternative to an HSA (especially if you don't quality for one). An FSA offers an opportunity to set aside money for medical expenses while saving on taxes. Read this guide to learn more.
Prepaid debit cards are the preferred tool for many parents. They can monitor their children’s spending while teaching their children how to responsibly handle money management. Even the best prepaid debit card can end up costing more money than you are prepared to spend.
Looking for budget lunch ideas? Here are 10 cheap meals for lunch recipes that you should start making. Yes, these are easy lunch ideas that are delicious!
Even if you think you already live quite frugally, chances are likely that you can reduce your monthly expenses. Maybe you can even reduce them by $500 or more per month. Think that’s crazy? Start with these steps, and see how much you could save.
Joshua Sheats recently took a friend of his (who is super broke) through a grocery store and shared with him some strategies for eating well on a tight budget. This should help you save some cash...or at least help you teach someone else who's hungry how to eat cheap. (Hint: avoid processed foods)
Does bringing your lunch to work actually save you money? Here is my analysis on how to save money on lunch and other factors to think about.
"By pocketing the $3.50 for coffee each day and investing it instead in a low-cost, diversified Roth IRA, you'd have an estimated $106,000 after 30 years." — The key is that one has to actually save the $3.50 a day.
It's a few years old, so some of the numbers may be a little different, but the opportunities still exist to save substantial amounts of money. This infographic shows you 13 different money-saving tips.
Shopping for cell phone plans makes going to the dentist look fun. To help, Consumerism Commentary rates and compares options of the best cell phone plans in 2017.
Thinking about taking a job in a new city? Every month, the average Seattle resident needs 73 hours of work to pay down a mortgage, while in Wichita it's just 25 hours. Check out the most and least expensive cities.
Traveling with kids can be expensive. But with these five tips, you can save hundreds of dollars on your next family vacation.
About 33 percent of homeowners wish they had purchased a larger home, according to a 2017 Trulia survey. Maybe these homeowners didn’t do the math before moving in. You don’t have to make the same mistake. You can use an affordability calculator to figure out how much house you can afford before move-in day.
Looking for budget recipes? Here are 10 cheap easy meals that you should start making. They're affordable and they taste great!
You don’t have to be broke to eat these foods. In fact, The Graceful Little Honey Bee and her family eat them all the time because she likes to keep the grocery bill low. The items on this list can be usually be found for around $2 or less per pound.
Checking account overdraft fees are a big problem for Americans, costing frequent overdrafters $15 billion per year, according to the Consumer Financial Protection Bureau. Here’s what you can do to avoid them.
This money stuff really isn't that complicated. Sometimes the answer is literally just doing nothing and watching the cash stack up.
Nicole Dieker claims she hasn't worked out the financial impact of drinking Huel two meals a day. However, she does say it costs $114.30 every five weeks. That works out to $1.63 a meal. Not bad.
If you received an eviction notice, don’t panic. Student Loan Hero offers what you need to know about the eviction process and how you can recover.
There are ways to fill up your new home without spending more than you should, and you don’t have to move to a cheaper city to save. A New York City couple shares 5 tips that allowed them to furnish their apartment for less than $1,000.
It might seem counterintuitive, but sometimes the more expensive option costs less in the long run. Consider this person's four lessons on taking frugality too far.
Traveling doesn’t have to break the bank. Here’s how three experts suggest you approach budget traveling.
Take advantage of that student ID while you can, because it can help you save cash on all kinds of stuff.
Can one move help you save 40% on your rent? If you ask the team at RentHop, the answer is a resounding "yes." Here is what you need to know, plus some additional tips to save money on rent.
Erin Lowell shares how she cut her spending on food. It seems she focused more on menu planning and food preparation than sitting in front of a spreadsheet.
Having dinner with friends is always fun, but awkwardness ensues when the bill arrives. It doesn't have to be that way, though.
Is a daily latte really going to make or break your retirement? David Bach, financial advisors, and many in the media seem to think so. The fact of the matter is that people can save money for their futures while also enjoying a daily latte.
Start with a few of these money-saving tips and add one or two each month. Be sure to save or invest the difference to achieve your goals.
The vast majority of Americans -- more than 80% of us -- are throwing our hard-earned money away on wasteful spending, according to a recent survey of more than 2,000 Americans.
If you are sharing finances with your partner, then you should be budgeting together. If you are at all normal, this probably freaks you out a little bit.
If you've ever gone a day without your medications or cut your pills in half to make them last a little longer, there are better ways to pare your drug costs.
Money is a paradox; it's simultaneously the most and least important part of life.
In our inaugural report evaluating health savings account plans, we looked at 10 of the largest plans through two separate lenses: as a spending vehicle to cover current medical costs, and as an investment vehicle to save for future medical expenses.
Living longer is nice, but paying more for health care isn't. There are, however, a few strategies you can consider to help limit those rising costs.
You don't get to quit budgeting just because you've retired. Actually, if you collect Social Security benefits, it's more important than ever.
Don't let emotions steer you into buying things you don't need or can't afford. Know the warning signs and follow these tips.
If this is the first time you’ve had to manage finances beyond your college meal plan, you may be surprised at how easily the money seems to evaporate.
If you are looking to get a computer without breaking your budget, check out these purchasing options and choose the one that's best for you. If you do what the author did, you'll save a lot of money.
Want to reduce your spending? Get these four newsletters that deliver money-saving opportunities to your inbox.
Single homeownership is on the rise. Before you buy, consider these important factors.
A real estate agent identifies three mistakes (during escrow) that can ruin your chances of owning a new home.
Do you really need to "look rich" by the car you drive? Jay Leno offers this advice to save a lot of money.
Does the high cost of living threaten your ability to retire in style? If relocation is something you would consider, take a look at these seven affordable states.
Sometimes we get so used to having what we want, that we think it is a need. Confusing wants and needs prevents many people from saving money.
Millennials spend far more in bars, on coffee and at restaurants than older generations — while saving less, a new survey shows. The average millennial, which is what the survey calls Americans ages 18 to 36, dines in or gets take-out from restaurants five times per week.
You might say that renters are “throwing money away” every month. There’s certainly some truth to that, but if throwing away your money gets you peace and freedom, it’s a cost some people are willing to pay.
Don't make the mistakes that prevent you from accumulating money or avoiding excessive debt, including buying more house than you should.
Scrimp a little now to gain financial independence more quickly.
YNAB provides a budgeting dictionary of common terms that can help make budgeting a little less intimidating for those just getting started.
Before buying a house, you should ask yourself questions. These questions are for first time homebuyers, or even those who are on their second or more!
It's important that you make the home-buying decision with as little emotion as possible (we know it's difficult). Look before you leap by asking yourself five key questions before starting your house hunt.