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Author: Jackie Lam
Jackie Lam
Jackie Lam is a personal finance writer and is based in Los Angeles. She is an accredited AFC® financial counselor. She also has a Trauma of Money professional certification. She is the 2022 recipient of Money Management International’s Financial Literacy and Education in Communities (FLEC) Award and the 2022 Plutus Awards recipient for Best Freelancer in Personal Finance Media. Her writing has appeared in major publications such as CNET, Forbes Advisor, USA Today Reviewed, Business Insider, Salon, USA Today Blueprint, U.S. News and World Report and The Knot.
Who doesn’t want to make their lives easier? With everything from groceries delivered to your doorstep to mobile dog grooming services to a monthly curated clothing subscription can save time and enhance our day-to-day existence. However, there’s a price to pay for convenience. A recent survey by CouponFollow finds that U.S. consumers spend about $150 a month, or $1,800 a year, on convenience-centric purchases. What’s more, nearly half (47%) expressed that these habits don’t feel financially sustainable.As you can see, spending on monthly subscriptions, delivery fees, and the added cost of pre-cut veggies can rack up quickly and bust your budget.…
If you think that raking in a high income means life on Easy Street, you might want to think again. It turns out that high earners can live paycheck to paycheck. According to a recent report by Goldman Sachs, 25% of those making between $100,000 and $200,000 are living paycheck to paycheck and 16% of those raking in $200,001 to $300,000 are living beyond their means. Interestingly, 41% of those earning $300,001 to $500,000 are barely squeaking by. (Yes, you read that correctly.) So why are those who seem like they should be living comfortably are, in actuality, living hand…