What is an Opportunity Cost?
Opportunity cost is an economics concept with huge implications in every aspect of our lives. To put it simply, when you say “yes” to one thing, you are saying “no” to another. Opportunity Cost in the Real World Let’s try an example. Say your goal is to build healthier habits by exercising every day. When…
Read More3 Reasons to Set Up an Automatic Savings Plan
There are endless strategies for saving money, but one that comes up again and again is setting up an automatic transfer. Lots of research, including our research here at SaverLife, shows that this is a good way to save more. In fact, SaverLife members who set up automatic savings transfers are 5-6% more likely to…
Read MoreHow to Be a Holiday Hero while Sticking to a Budget
Holidays can be filled with both joy and stress. As a starting point, think about the end of the holiday season. How do you want to feel? What experiences are important to you? And of course, what do you want your credit card balance to look like? What are the holidays about? As you go…
Read MoreWhat does it mean to “pay yourself first”?
Hi, I’m Saundra Davis, SaverLife’s financial coach. Let’s talk a little bit about the golden rule of saving: pay yourself first. So many people say, “I’m going to wait and save after I’ve paid all my bills and I’ll save what’s left,” but we all know what happens then. Very seldom is there anything left. So the idea of…
Read MoreWhat’s your money style?
Hi, I’m Saundra Davis, SaverLife’s financial coach. Today we’re going to talk a little bit about our money personalities or our money style. Are you a spender, saver, or planner? Our approach to saving or spending really is rooted in the foundation of how we live with our money in our individual personality. Some of us are savers. Some of…
Read MoreMaking Your Money Work for You
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today we’re going to talk about how you make your money work for you. What is a budget? If you ask, “Do you have a budget?” many folks will say no, they don’t have a budget. The fact is we all have a budget, whether we know it or…
Read MoreYour Money: Your Values
Hi, I’m Saundra Davis, financial coach here at SaverLife. Today, we’re going to talk about your money values. We often don’t think about how our values play in to what we do with our money. But the fact is everything you do with money makes perfect sense if you understand what you believe about money. Our…
Read MoreWhat apps do you recommend to track your spending habits?
This is the interface of You Need a Budget, one of the budgeting apps I’m trying out currently. What free or low-cost software/apps do you recommend to track your spending habits? There are so many out there to choose from and some are overly complicated and others require too much work. Submitted by Brittany.…
Read MoreSaverLife’s Top 5 Tips for Saving Money
We’ve heard so much great feedback from the SaverLife Community on money hacks they use to stretch their dollars and meet their savings goals. Let’s take a look at some of the top money-saving strategies that Savers have shared: 1. Negotiating with Bill Companies “For our medical bills, we got payments reduced by hospital and…
Read MoreHow can I manage money with a partner who has different money habits?
Do you have any advice for managing money and budgets with a partner who has a different view of spending and saving than I do? Submitted by anonymous. Ah, love and money! This can be blissful or stressful. For many people, money can make or break your relationship. It is pretty common to partner with…
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