If you’ve received your year-end bonus for the year or you’re expecting it, it can be tempting to consider having a splurge in the name of Detty December or convince yourself you deserve an extravagant treat. But before you throw caution to the wind and deplete that windmill, take some time to consider how you truly want to use it. No matter the size of your hard-earned bonus, you should think about how it can best serve you and your goals in the short and long term. Here are 5 ways to use your year-end bonus to expand its benefits…
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Emotional spending is an act of buying something for yourself that you don’t need perhaps don’t even really want, as a result of feeling stressed out, bored, under-appreciated, incompetent, unhappy, or even happy. For instance, when you received a raise or on your birthday. It’s entirely not a bad habit if you can afford to pay for those items seamlessly and have a robust financial plan to cover your goals without having to borrow or struggle to create these plans. Emotional spending could be a destructive shopping spree to compulsive shoppers and could cause continuous damage to one’s wallet if…
Wakanda Forever. Unfortunately, no-one lives that long. Chadwick Boseman excited and inspired countless youths and adults when he played the world’s first black superhero, King T’Challa of Wakanda, in the blockbuster “Black Panther.” His recent passing at age 43 shows us that even those who appear to be young, vibrant, wealthy and heroic need an estate plan whose key elements include: A Durable Power of Attorney, which appoints a surrogate to make decisions about property and financial affairs on behalf of an individual, especially when or if they become incapacitated; A Healthcare Power of Attorney which appoints an Agent for…
You know that voice in your head, that says “buy” when you see a stock you know? It is sometimes the voice of your emotions, and emotional buying is never the best strategy. Sometimes it is really hard to drop emotions when trading in stocks because as humans, emotion is an integral part of us. But every stocktrader must know how to pull off the garment of emotions when trading, else, one may make the following mistakes: Buying because it’s trendy There are times when there is a sudden buzz around a particular stock, and everyone seems to be going…