Landing a high-paying job right out of college is a dream come true for many graduates. But for me, that was just the beginning. In less than three years, I managed to increase my compensation by over 150%, from $63,500 to an estimated $167,000 for my next job. How did I do it? Job-Hopping played a huge part in the quick increase in my total compensation. What is Job-Hopping Job hopping is a term used to describe the practice of changing jobs frequently, often every few years or less. It’s typically associated with individuals who switch employers more frequently than what is considered the norm in their industry or field.…

In today’s economy, it is common to have multiple incomes to fund your lifestyle and supplement your income. Side hustles are the perfect starting point if you are looking to diversify your income, fund your passion projects, and gain more financial security. Here are some low-barrier-to-entry side hustles that you can start today if you looking to make earn some extra income. 1. Testing Products Many companies pay people to test their products and provide feedback before they hit the market. These products could range from food and drinks to beauty and skincare items. As a product tester, you’ll get to try out new products before they hit the market,…

Looking for ways to save on your monthly expenses? Avoid overspending by cutting these 11 things from your budget! Do you have some financial goals that seem unattainable? Are you saving up for a big purchase like a house or a car? To avoid overspending and achieve financial stability, it’s important to cut costs where we can. Here are the 11 expenses I believe you should cut first from your budget to get one step closer to your financial goals.   1. Restaurants and Uber Eats Eating out at restaurants and ordering food through Uber Eats can be convenient, but it’s also extremely expensive. Eating at restaurants often mean you’re…

There are numerous budgeting techniques, and budgeting is an essential tool for managing personal money. Your financial goals and personal preferences will determine which strategy is best for you.  In order to stick to your financial goals, you should figure out which budgeting method will work for your unique circumstance and life situations. Each strategy has benefits and drawbacks. Here are 4 of the most popular forms of budgeting and the pros and cons of each: 1.   Standard budgeting Making a budget based on your income and expenses is the basic idea behind traditional budgeting. Typically, it entails making a list of all of your monthly expenses and allocating a certain sum…

Credit cards can be an extremely powerful tool if you follow these 10 credit card best practices There are a lot of contradicting personal finance these days. Popular “personal finance experts” like Dave Ramsey oppose credit cards and tell people to avoid them at all costs. Although there is some validity to these beliefs, you can eliminate your worries as long as you follow a couple of best practices.  If you follow these 10 simple credit card rules, I promise you you’ll never fall into credit card debt AND you’ll discover excellent benefits you never knew existed.  Understanding the Dangers of Credit Cards IF not used correctly, credit cards indeed…

You took hours on your spreadsheet and finally created your perfect budget. But you may have forgotten just one thing… Sinking funds! Having the right sinking funds is the secret to staying on top of your budget and afford buying anything you want! What Are Sinking Funds? A sinking fund is a budgeting strategy where you set aside money over time for future expenses. It’s a process where you budget a little bit each month into your sinking fund so you have the full amount ready when the expenses come due. Sinking funds help make budgeting easier, avoid getting caught short, and reduce financial stress. In corporate terms (Investopedia), sinking funds…

Life is unpredictable, and an emergency fund can help prepare you for the worst that life throws at you. Whether it’s unexpected medical bills, car repairs, or a sudden job loss, having an emergency fund can help you weather the storm and avoid financial hardship.  Creating an emergency fund is the very first step in financial planning. Here’s why you should have an emergency fund and the do’s and don’ts after you set up your fund.  Why should you have an emergency fund? 1.  Avoid Debt Without an emergency fund, you may be forced to rely on credit cards or loans to cover unexpected expenses. This can lead to high-interest debt…

When I first stumbled upon the world of personal finance, I was overloaded with information. I saw ads everywhere recommending different finance tools, and I had no idea which apps would be a waste of space and which apps would actually help me get my finances in line. Here are the top 5 tools I would recommend for any personal finance beginner to help you get started in your personal finance journey.  Categories of Different Tools? Money Management Software Price Comparison Tools Deals & Cash-back Informational Sites & Books  Investing Sites & Apps Documentation Tool to Track Progress 1. Money Management Software “What gets measured gets managed.” The first step…

  A key element that separates the rich from the poor is that the rich can invest and leverage other people’s money at a low-interest rate for their benefit.  On the other hand, the poor and the middle class often just use their own money or borrow money at an exorbitant rate from credit card companies or predatory organizations such as loan sharks. There is a reason why people constantly emphasize the important it is to have a credit score and that you should start early when it comes to building credit.  To help you be successful financially, you need to understand: What is a credit score? When do you…

Approximately 78% of full-time workers in the United States live paycheck to paycheck in 2019 according to a report by CareerBuilder.  This number is so astoundingly high because people often get overwhelmed and procrastinate on getting their finances together. On top of that, how to manage your finances isn’t taught in school. Yet I believe this is one of the most important skills you need to design a life that you love. Getting started in your personal finance journey is a daunting task. Money-related topics are taboo to talk about and emotionally draining.  But today, I want to share the basics of how I got started on my personal finance…