When you write about personal finance all day, part of the job description is to keep up with everything that’s out there—the newest trends in how people are mastering their money and smart ways to make life that much simpler.
There's a lot going on when it comes to our finances these days (the upcoming 2019 tax season not least of all). After reading who-knows-how-many blog posts from around the internet, we at Fabric compiled a list of our favorite recent stories. As the editor here, I think you might just enjoy them, too.
At Fabric, we love to get on our soapbox about why it’s so important to write a will and plan for the future.
That’s why I appreciated this perspective. This blogger breaks down the components of a solid estate plan and makes a plain-English argument why it’s not something you should overlook.
This article challenges us to do random nice things for others. This could be financial, like treating the person ahead of you in line at Starbucks. Or it could be an act of service.
For example, as I brushed the snow off my car following a recent winter storm, I considered cleaning a stranger’s car, too. Admittedly, I realized that anyone coming out to see me manhandling their car would probably be more suspicious than grateful (and I’m not the world’s best snow-remover, so they may not love my handiwork). I didn’t do it, but I’m on the lookout for other ways I might surprise a stranger with an anonymous, kind act.
Many of our readers tell us that they could use more money (who couldn’t?). Especially on social media, we talk to lots of folks who are doing their best to support their families.
So, in honor of those hustlers just trying to make it all work, I liked this blogger’s roundup of ways to make money on the side.
Most people don’t associate Fortnite with money lessons, but this blogger makes the argument that you can use something your kids are passionate about to connect with them. That connection can teach them key skills, like budgeting and recognizing items they don’t truly need (in-app purchases, anyone?).
It’s a pet peeve of mine when writers talk about investment growth as though it’s the same thing as compound interest. Compound interest is when your money earns interest, and then your earnings continue to earn interest in their own right—increasing the power of each dollar. When your investment grows over time, that isn’t (strictly speaking) compound interest. That’s just your investment gaining in value.
I appreciate this deep dive into compound interest because it truly explains this phenomenon, and how to make the most of it.
Especially if you’re a busy parent, it’s worth genuinely understanding the value of your own time. This post breaks down how to calculate the value of your own time, not just based on the income you make at your day job.
After all, you might make $X per hour, but that doesn’t mean you’d be making that income during your off hours. So it isn’t exactly fair to say, “Hey, let’s take that expensive taxi ride because this is how much my time is worth!”
By the same token, I think it’s important to note that we don’t need to monetize every hour of our time. Family matters. Friends matter. Meditation is worthwhile. So is eating a meal with the people you love. I hope that understanding how to value your time can help you make conscious decisions in your daily life.
Just for fun, I enjoyed this roundup of Wall Street-related movies, and even documentaries about money. It includes the usual suspects, like Wall Street and The Big Short, but also some unexpected and interesting suggestions for documentaries you can find on streaming services like Amazon and Netflix.
Because learning about money should be fun, too!
Money can be fun: buying stuff, being generous with friends, planning for your glorious future. It can also be a little less fun: paying down debt, balancing a budget, planning for the unexpected.
So, understandably, a lot of people focus on the fun stuff and put off the rest. We’ve spoken to too many people who haven’t created a last will and testament. That’s why we compiled the top reasons people convince themselves they don’t need a will . . . and the real truth of the matter.
Fabric exists to help young families master their money. Our articles abide by strict editorial standards.
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