Lacking Cents 2017-05-22T12:02:40+00:00

Lacking Cents is the financial journey of Millennials that learned that lacking money does not have to mean lacking personal finance sense.

When my wife and I were married, we combined our student and auto loan debts into one massive, negative net worth. We discovered that our financial goals were not matching up with reality, and completely changed how we manage our money just in time to welcome our two children into the world. We started investing, paid off $50K of student loans, and changed our whole mindset about personal finance.

Join us for the ride as we discover the importance of budgeting, emergency funds, setting financial goals, and finding big and small ways to save money everyday.

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Betterment: Where We Invest Money for Non-Retirement Goals

Not long ago, my wife and I were buried in five-figures worth of student loan debt and no investment savings outside of small 401K balances.  Investing seemed silly at the time because any extra money we came across could simply go toward exhausting the student loans earlier.  But in 2014, my wife became pregnant with our daughter and our priorities shifted.

We still had about $14,000 left on our student loans, but the interest rate was only 2.5%.  We decided to invest before paying off all our non-mortgage debt.  The move wasn’t as risky as it sounds — we adjusted our spending habits […]

By | May 18, 2017 6:30 am|Investing, Recommendations|0 Comments

The $50,000 Starbucks Latte Habit

Do you ever think that, since it’s “only” $4 for a Starbucks latte, you’re not really throwing your money away?  I mean, $4 for a cup of coffee is nothing compared to your brand new $30,000 car.  Or $50,000 in student loan debt.  Or your $250,000 mortgage.  Right?  What’s another $4?

In the example I am about to share, a $4 Starbucks latte habit over the next decade costs your future self over $50,000.

Before you get your calculator and tell me I am wrong, follow along and I will show you.  This […]

By | May 8, 2017 5:45 am|Budgeting, Featured, Recommendations, Saving Cents|4 Comments

How to Build A Website Quickly and Inexpensively

Hey there, Lacking Cents reader!  We are about a dozen posts in, and it’s about time I finally document for you how I created this website and blog in case you want to start your own blogging journey.

We have grown to nearly 3,000 Twitter and 1,000 Instagram followers since launching just two months ago, and I believe our growing readership is directly related to the incredible tools that allow me to create and maintain this website.  Our server has been spectacular (never a second of down time!), the theme has been enjoyable to customize, and WordPress is without a […]

By | April 28, 2017 6:00 am|Featured, Recommendations, Website Tips|0 Comments

Why Large Tax Refunds Are Not As Great As They Seem

Tax season can be nerve wracking and tedious for some. Those without a company withholding income taxes throughout the year need to make quarterly tax payments to the IRS, while others who haven’t planned well may not have prepared for the tax burden come April.

But for approximately 70% of U.S. taxpayers, a refund check is on its way shortly after filing taxes. And according to the Motley Fool, the average tax refund is nearly $3,000.

Great, right? Well, not if you are paying down debt or investing.

Many people do not realize it, […]

By | April 18, 2017 6:30 am|Debt, Investing|0 Comments

Recap and What’s Ahead After Six Weeks

Happy weekend everyone!

Lacking Cents is ten blog posts old, and I figured now was a good time to stop and recap the first 6 weeks, describe some of our experiences, and tell you about what’s ahead.

I launched in February with the blog post “Our Financial Journey in a Nutshell.” This post captured three personal finance rules that I live by: budgeting, goal-setting, and evolving.

I discussed budgeting in depth in “Budgeting 101: Your Expenses Need An Overhaul,” capturing many of the budgeting categories our family tackled, and recommending ways to improve your finances. I talked about the importance […]

By | April 15, 2017 7:26 am|Family, Updates|1 Comment
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