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March 24, 2024
By
The Admiral Staff
The article discusses how couples can navigate income inequality in their relationships. It highlights that open communication about feelings related to income differences is crucial, whether it’s guilt from earning less or pressure from earning more. Several approaches are explored: joint accounts (treating money as “his and hers”), separate but equal accounts (contributing proportionally to shared expenses), and separate accounts with proportional contributions based on income percentage. The article also addresses situations where one partner is unable to work, emphasizing transparency and mutual support. Ultimately
March 22, 2024
By
The Admiral Staff
The author shares their experience transforming from someone with a loosely defined “budget” to effectively managing their finances. They dispel five common myths about budgeting: it’s not complicated, requires no math skills, takes too much time, restricts fun, or is a one-time setup. Instead, the author advocates for a simple, regularly updated budget (even just listing income and expenses) to gain control over spending, prioritize financial goals, and ultimately reduce financial stress.
March 17, 2024
By
The Admiral Staff
This article details a young woman’s journey to paying off nearly half of her student loan debt while earning $15 an hour. She emphasizes that budgeting is key to taking control of your finances. The process involves tracking spending, setting financial goals, analyzing expenses, building a budget (using tools like YNAB, spreadsheets, or pen and paper), assigning a purpose to every dollar, staying vigilant with spending, and being realistic with adjustments. The author stresses that budgeting isn’t rigid and encourages incorporating
March 9, 2024
By
The Admiral Staff
Expecting parents in the U.S. often face unpaid parental leave, creating a potential income gap. Financial planner Kim Tran suggests proactively saving to ease this transition. Her strategy involves scaling back non-essential expenses like student loan payments and diverting the extra funds into savings to cover income loss during leave and anticipate increased utility bills due to factors like winter and visiting family.
March 7, 2024
By
The Admiral Staff
The article suggests five ways to save money to afford a desired “splurge.” These include earning gift cards by scanning grocery receipts with the Fetch Rewards app, winning money playing the Solitaire Cash game, using a free browser extension to avoid overpaying for online purchases, and shopping around for cheaper car insurance through EverQuote. Collectively, these strategies could potentially save individuals a significant amount of money.
