The new iPhone just came out and folks are lining up to get their hands on it. While everyone else rejoices about the new phone, it seems like we in the personal finance community collectively shake our heads. I recently read a few articles about the financial evils of buying a new phone and found this puzzling. I’ve never thought of a new phone as a financial sinkhole. And when you do the math, it’s not very expensive if you plan it out in advance. So why are people saying not to upgrade the single most important piece of technology most of us own?
Saving
Prism App Review – An Awesome Free Bill Management App
I’m a big fintech geek and there are some really awesome apps out there. You’ve probably already read reviews about some of the big players in the fintech world such as Mint and Personal Capital. I thought it’d be helpful to share reviews about some of the lesser known fintech apps that I personally use and that I think might be useful to you. One such app is Prism.
While I’m a big fan of automating your finances, I still like being able to look at my bills before I pay them. There’s just something comforting to me about being able to make sure that my bill looks right before I pay it. It’s something I’ve done my entire life and I guess I’m just stubborn…
Your Spare Change Should Be Saved, Not Invested
We all probably remember – or maybe some of you still have – the jar full of change that we would drop our coins into at the end of the day. I remember as a kid lugging big jars full of change to my local bank, watching them clink around the coin counting machine, and walking out of the bank with cold hard cash. It’s amazing to think that I had a couple hundred bucks sitting around in a jar!
This process of saving up small amounts is called microsaving. Basically, doing a small amount of saving over time (such as gathering up your leftover change) can add up to a pretty decent chunk of money in the end…