Author: Sandy Yong

When people think of money, it can stir up a lot of emotions or memories of their upbringing. Countless Americans grew up in struggling households where they couldn’t afford certain things or learned unhealthy financial habits. Financial trauma can affect all aspects of everyday life. If you feel like you’re the only one who’s facing obstacles, you’re not alone. In fact, according to research from Experian, 68% of Americans have experienced financial trauma. Here, I’ll explain these concepts, the mental barriers to saving, the causes of impulsive spending, and how to heal from a generational poverty mindset. What is Money…

You’ve probably read or heard about the traditional ways to save money, such as stashing it away in savings accounts. Or financial experts have likely told you to shave off unnecessary expenses like your latte or subscriptions. And while it could help you reach your short-term goals, it may not be as helpful when it comes to building your long-term wealth. Why is that? Well, when your money is sitting in cash, you’re not putting it to work, and inflation can make it worth less. On the other hand, if you invest your money, it could help you earn interest…

To be financially successful, it requires discipline and consistency. As humans, it can feel overwhelming trying to build good money habits. One measure of financial success is being ready for retirement. In a recent survey from Schroders, they found that 51% expect to have less than $500,000 in savings at retirement. Clearly, there is a gap between how much they should save and how much they actually save. The good news is that you can incorporate automated money systems so that you don’t need to monitor your personal finances constantly. Plus, it’ll help you save time and stay on track…

Many working adults often wonder when they should retire and how much money they need. However, according to the U.S. Department of Labor, only about half of Americans have calculated the amount they need for retirement. If you’re not sure, you’ve come to the right place. After all, it’s important to have the proper financial plan, so you have sufficient funds to sustain your desired lifestyle during your golden years. Typically, retirees will have a combination of Social Security, a company pension, and income from investment accounts. In this guide, I’ll show you the steps to begin planning your retirement.…

When you’re a DINK couple (dual income, no kids), you have a unique path to accumulate wealth that others do not have. Dual earners without children have more financial options and greater spending power. They have the flexibility to save for retirement, go on luxurious vacations, and pass on their wealth to greater causes or relatives. These couples can take many forms. There are long-term partners, early-career builders, newlyweds, roommates, adult child-parent households, or empty nesters. And there’s an increase in DINKWADs who are dual-income, no kids, with a dog. Given that DINKs have substantial purchasing power, high-end companies that…

Managing a large medical debt alongside building your wealth can be challenging. It’s a widespread issue amongst Americans. This balancing act can cause emotional and financial strain on you and your loved ones. However, there are ways to manage both simultaneously. Three in four Americans live with at least one chronic illness, according to the U.S. Centers for Disease Control and Prevention (CDC). Plus, over half have two or more chronic conditions. There are many types of chronic diseases in the United States. Heart disease and stroke, diabetes, obesity, cancer, Alzheimer’s disease, epilepsy, and tooth decay are the most common…

Have you ever thought about owning a piece of real estate to earn money? Most people think of owning residential property, which they could rent out to tenants or become a host on Airbnb. But what are some other ways to invest in real estate with a lower barrier to entry and less involvement? Many non-traditional property investments could be viable options for you. Let’s explore the different ways to get started with micro-real estate investing. Looking Beyond Traditional Real Estate Investing Traditional real estate investing is often associated with residential housing. I am a traditional real estate investor, owning…

There are many creative people who love focusing on their craft. These talented individuals are poets, musicians, artists, designers, writers, and those who work in the entertainment industry. In the United States, 673,656 businesses create or distribute arts, employing 3.48 million people. This translates to roughly 4% of all U.S. businesses and around 2% of all U.S. employees. While there’s no doubt that mastering your skills is important, it’s equally important to learn the ropes of running a successful business. Because, at the end of the day, you still have bills to pay.  In school, you may not have learned…

By Sandy Yong You’ve created a budget and have tried time and again to get a handle on your spending. But every month, it seems like you’re spending beyond your means. You may have thought about switching to a cash-only budgeting system for a month to see what it feels like, but are unsure of how to start. Living on an all-cash budget can help to control your spending and undo some poor money habits. If you’re interested in learning how the process works, follow along as we explain the steps and the considerations. The Spending Mindset There’s an emotional…

You’ve spent years climbing up the corporate ladder and have earned multiple accolades from your job. But now that you’ve reached mid-life, you’re starting to wonder if you should pursue a new career path. Maybe you feel like you’ve reached a plateau or your current work isn’t as fulfilling anymore. It’s been in the back of your mind, but between raising a family, and going to different activities and events, it’s been challenging to figure out what to do next. The good news is that you’re not a young adult who just graduated from college. You’re an accomplished individual who…