spending Archives - Runnymede Capital Management

Will #YOLO Ruin Your Retirement? It Doesn’t Have to.

Many lifestyle gurus have sold the idea of living for the moment and that we should only do that which makes us feel good. Looking at Instagram and you'll find 27.8 million pictures with the hashtag #YOLO, the acronym for “you only live once.” This phrase indicates a desire to live in the moment, and in extreme circumstances as an excuse for bad or risky behavior.

It sounds alluring until you look at the data about retirement-readiness. According to the Bankrate.com 2018 Retirement Savings survey, 42 percent of Americans have less than $10,000 saved. That means an alarmingly high number of people will go broke and outlive their money. It is evident that a YOLO approach to life gets complicated when it comes to money.

Using cash over credit is costing you tens of thousands of dollars

This is my second post during financial literacy month and I'm going to take on cash vs credit. One popular financial radio host, Dave Ramsey, has been a vocal critic of credit cards saying to never own one because you will spend more because it is plastic (strangely he advocates for debit cards instead). I don't believe this is the case but of course I strongly advise only using a credit card under two conditions. One: you are going to use it to replace your cash spending and no more. Two: you are going to pay the balance off in full every month and on time. If you are going to just pile up debts that incur huge interest payments every month, then this post is not meant for you.

IM 027: Happily Retired in Their 40s by Spending Less | Tim and Amy Rutherford

Financially independent couple, Tim and Amy Rutherford tell us how they retired in their 40s by spending less and have found happiness.

IM 010: How to Look at Money in Terms of Happy | Sarah Von Bargen

Sarah Von Bargen provides tips to help you make better money choices by viewing your spending through a lens of happiness.

Confident Americans set to spend record amount on summer vacation

For the next couple of months, your Facebook and Instagram feeds will likely be dominated by beach holiday photos, beers in the sand and people's legs at the pool. School is out for summer and people are ready to vacation!

American consumers are as confident as ever and this should translate to a great summer spending season. This summer, Americans are expected to spend a total of $101.1 billion on vacations this year, representing a robust 12.5% increase from 2016, according to projections from the Vacation Confidence Index released Wednesday by insurance company Allianz Global Assistance. This is the first time in the index’s eight-year history that spending has exceeded $100 billion.

5 shopping tips for Amazon Prime Day

Amazon Prime Day just kicked off at 9pm EST so I thought I'd write you a few quick tips to take advantage of the deals ahead. Prime Day is Amazon's annual, summer version of Cyber Monday. Like any sale, you still have to be a smart shopper because they are trying to get you to impulse buy and just because they claim it's 50% off, it probably isn't anywhere near that great a deal. Last Prime Day, buying guide site The Wirecutter scanned nearly 8,000 advertised deals and found only 64 worth buying. Yikes!