Moneyskope

11/26/2024

It's great to have an emergency fund. But are you afraid to use it?

One of the most unexpected mistakes I see with emergency funds are people not using them for emergencies!

Define clearly what you'll use the fund for and be ready to use it when the time comes.

10/14/2024

Supporting your adult children is crushing your finances.

Based on research by Dr. Thomas Stanley, parents who provide support for their adult children have significantly less wealth than parents who have independent adult children.

Children have their entire lives to stabilize themselves financially and build wealth. Parents don’t.

And if parents provide support to their adult children now and then need their adult children to support them later, that’s not a great position either.

10/05/2024

The formula for building wealth hasn’t changed for centuries.

10/02/2024

Have you considered getting a prenup?

09/30/2024

When looking for a high yield savings account, I almost always recommend Ally Bank. My favorite feature is the savings buckets that allows you to save for specific goals and know exactly how much you’ve saved towards each. I like Ally so much that I use them myself! (And no, Ally isn’t sponsoring this post.)

08/11/2024

Autopay won't save you from credit card debt -

Two studies recently asked, “Can nudging people to use autopay help shrink their credit card debt?” The answer: kind of, but don't expect miracles. Researchers found that while autopay nudges made folks more likely to stick to minimum payments, it didn’t do much to knock down their balances. ...

08/04/2024

The hidden reason behind rising car insurance premiums -

The percentage of uninsured drivers in the U.S. rose to 14% in 2022 from 11% in 2019, contributing to higher car insurance premiums for the rest of us. When drivers drop their insurance, it reduces the premium pool, which causes insurers to raise rates. As a result, the average annual cost of full-...

07/21/2024

New post: The power of your social circle -

I recently reflected on the interactions I've had throughout my life and assessed which ones give me the energy I need to live a happy life. Most are very positive and make me feel fulfilled through amazingly constructive and inspiring conversations. Others are energy draining, making me feel down,...

06/16/2024

https://mailchi.mp/d8ce7134e1b5/credit-cards-wreaking-havoc-across-all-incomes

The contents herein express my views and such views are subject to change without notice. Moneyskope has no duty or obligation to update the information contained herein. Further, Moneyskope makes no representation, and it should not be assumed, that past investment performance is an indication of f...

06/09/2024

Introducing the AI-based Moneyskope Financial Coach! -

The contents herein express my views and such views are subject to change without notice. Moneyskope has no duty or obligation to update the information contained herein. Further, Moneyskope makes no representation, and it should not be assumed, that past investment performance is an indication of f...