I think of all my time as existing in 15-minute blocks. Most people think in terms of 30-minute chunks, but I've found that when I free up more time, I waste it.
We never intend to lose our jobs, break up with our live-in loves, or face any number of the curveballs life throws our way. But they happen all the same, so have a bailout plan just in case. Sounds corny, but I call this the 'freedom fund' because it gives you the freedom to get out of a jam without climbing into debt.
Losing your job is terrifying, but being prepared makes it so much easier.
Without any formal personal finance education or trustworthy resources to tell them otherwise, the majority of people in the 18-to-24-year-old age bracket do not know how to use credit effectively, tackle debt or make wise decisions when it comes to spending.
It is critical that kids start to learn the value of money, short-term and long-term saving and budgeting at an early age.
The time to save for the future is now. Thanks to compounding interest, the earlier you start putting money away for the future, the more you will save.
I always encourage people to pay themselves first, so I really advocate setting up direct deposit for your paycheck and establishing an automatic transfer so that part of each paycheck goes straight into your savings account.
When I was younger, I used to play mind games in which I'd try to finish tasks in minutes. My favorite was when I would shower, lay out my school clothes, then devour my dinner - in 15 minutes flat.
Know the difference between your necessary and discretionary expenses.
Kids can learn a lot about necessities and wants by recognizing what people live without. A common routine, but one that should not be overlooked, is having a family donation to a charity for those less fortunate. Ask your kids to search for items, toys, or clothes that they no longer use and contribute those items a collection box.
Without any formal personal finance instruction in our high school or college curricula, many college seniors who graduate in the red will continue to make common financial mistakes that only exacerbate their debt burdens.
Investing in renter's insurance is hugely worthwhile. It protects you from a whole load of financial pitfalls around your home. Your home should be the center of your sense of security - not the cause of you losing financial security.
What's the point of creating a budget if it's not possible to follow through?
When I was planning LearnVest, everyone told me I had to talk to Ann Kaplan, one of the first female partners at Goldman Sachs. Within five minutes of our meeting, she totally got the idea - and by the time I left, she was a seed investor.
While I strongly encourage my readers to take advantage of the Internet and social networking platforms to gain a greater understanding of their personal finances, it is extremely important to be safe, smart, and responsible when it comes to sharing, discussing, and managing your finances online.
We're providing planning to a huge audience who's never had access to financial planners before. This was always my plan for LearnVest. It was in my very first pitch deck.
I'm proud that LearnVest is creating content that helps expectant moms tackle their finances. As much as possible, we hope to lessen the stress during what is said to be such a life-changing time.
When you have a lot of money, there's so many places you can go to manage your money. But when you don't have money, mathematically you actually need a financial plan more. You can't really afford to make mistakes. So why is this such a luxury product?
My ultimate goal is to create operating systems for myself that allow me to think as little as possible about the silly decisions you can make all day long - like what to eat or where we should meet - so I can focus on making real decisions. Because mental energy is a finite quantity.
I always have Moleskine notebooks on my desk. I am a big journaler. Every day I write down where I went, who I spoke to and what it was all about. Richard Branson told me to do that.
