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 […]

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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, […]

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2017-04-18T07:33:32+00:00 April 18, 2017 6:30 am|Categories: Debt, Investing|Tags: , , , |0 Comments

Fixing Your Housing Costs Should Be Step One

The main reason I started Lacking Cents was to share my early struggles with money and how it changed my outlook on financial decisions.  People frequently associate money issues with being unemployed or reckless with money, but I was neither.  I started a good job shortly after college with health benefits and a 401K plan complete with a company match.  And I was never reckless with money.

But inexperience with handling my own finances led me to make costly decisions in the first year of my professional life, starting with where I lived.

I rented my first apartment shortly after graduating from college with […]

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2017-03-30T22:16:58+00:00 March 24, 2017 7:30 am|Categories: Budgeting, Housing|Tags: , , |2 Comments

How We Paid Off Over $50K in Student Loans A Decade Early

Ok fellow Millennials.  Let’s talk student loan debt.  I can sense the cringing already.  But hey, you clicked on this article voluntarily…so you must be somewhat okay talking about it.

First let’s throw out some common talking points — some objective and others more subjective.  Student loan debt is crushing young people in the U.S. to the tune of $1.3 TRILLION and about 70% of students graduating with a bachelor’s degree carry some form of student loan debt.  According to Forbes, the average graduate from the class of 2016 has over $37,000 of student loan debt.  These are crisis level figures, especially when […]

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2017-04-25T16:12:56+00:00 March 1, 2017 7:30 am|Categories: Debt, Featured|Tags: , , |0 Comments