Coronavirus is a perfect example of why we should have an emergency fund. For those who don’t have an emergency fund, this will be a painful lesson. In a booming economy, it is not exciting to talk about emergency funds. We would much rather talk about investing in stocks, real estate or … [Read more...] about Emergency Fund in Financial Crisis
Personal Finance
Lifestyle Inflation: More Money, More Problems
What Is Lifestyle Inflation? Lifestyle inflation is when you increase your spending as your income goes up. In itself, lifestyle inflation is not a problem, but it becomes one when you increase your spending too fast relative to your income (excessive lifestyle inflation). It makes saving for … [Read more...] about Lifestyle Inflation: More Money, More Problems
Lending Money to Friends: 3 Real-Life Stories
What You Should Consider When Lending Money to Friends Lending money to friends (Monkey didn't get his money back) Lending money always has a risk. Once you lend your money, there is no guarantee that you will be paid back. The stakes are even higher when lending money to friends or family … [Read more...] about Lending Money to Friends: 3 Real-Life Stories