Spending

5 Simple Steps to Create a Personal Budget | ModMoney

This post may contain affiliate links. Please see my disclosure for details.

Creating a budget is one of those items that always falls to the bottom of our to-do list. Perhaps because the mere term "budget" elicits a bitter sense of restriction. The problem is that we’re going about this all wrong. The right kind of budget should empower us rather than confine us. It should equip us to achieve our long-term goals rather than deprive us of enjoying the present. We should be allowed to spend money on things that make us happy, without guilt. These 5 steps will help you build a budget that does just that.

Pro tip: Creating a budget just got easier. At the bottom of the post, sign up to download my free personal budget template.

more
5 Credit Card Rules You Should Definitely Be Following | ModMoney

This post may contain affiliate links. Please see my disclosure for details.

You know those people who pull out a different credit card each time they make a purchase? Admittedly, I'm guilty. I have several cards in my wallet that I use interchangeably to maximize reward categories. But it's important to note that I slowly built my way up to this point.

Spending on a credit card is a great way to earn cash back, travel rewards, and other perks. But if you're not diligent, you can do yourself and your credit history a disservice. Conscientious cardholders use their cards to build up their credit score and earn a return on purchases they already make. However, there is a fine line between managing your credit to build you up and mishandling it to bring you down. To help you bridge that gap, here are five rules that responsible credit card pros always follow.

more
Last Minute Christmas Gifts Under $100 | ModMoney

This post may contain affiliate links. Please read my disclosure for details.

Every year I plan to stay ahead of my holiday shopping. On Cyber Monday, I'm ready to knock out my whole gift list. But I never seem to make it all the way through! I either get distracted and move to another task, or I add to my list later on. As I sit here 4 days before Christmas, I still have a few last minute gifts to purchase. Please tell me I'm not alone! For those of you who are in the same boat, I thought it would be helpful to round up some of my favorite go-to gifts under $100 this week. And the best part? All of them are Amazon Prime eligible, meaning they come with free 2-day shipping!

...

more
Does Canceling A Credit Card Hurt Your FICO Score? | ModMoney

Many of us have that unused credit card that sits in the back of our wallets. Now be honest. Have you ever been tempted to cancel it? After all, doesn't cleaning up old credit make sense in theory? It is a common misconception that canceling an old credit card helps your FICO score. In reality, the opposite is true. Closing an old card can have a detrimental impact! And here's why.

more
Should You Open That Retail Store Credit Card? | ModMoney

We've all been through this before. After exiting the dressing room, you approach the cash register with a few items in hand. You're already thinking about ripping off the tags and wearing your new clothes to dinner that evening. (Is that just me?) As you fumble for your credit card, the sales associate says, "You know, if you open up a store card, you can save an extra 15% today." What do you do? This sounds like an enticing offer! And you'll get instant gratification with a discount today. But before you reach for that shiny new retail card, there are a few factors to consider.

more
5 Apps That Will Save You Time & Money This Holiday Season | ModMoney

This post may contain affiliate links. Please read my disclosure for details.

I can't believe it's already Thanksgiving week! Black Friday, Cyber Monday, and a plethora of holiday travel are fast approaching. The holiday season can be chaotic and expensive, so I love to find new ways to save myself stress, time, and money. There are a few apps and tools I rely on to help me do that, and I'm excited to share them with you today! The first three apps are travel-focused and are essential for savvy flying. These will provide you with a smooth, comfortable, and well-priced travel experience. The last two involve holiday shopping and will help you save money and maximize the dollars you spend on gifts.

more
How to Maximize Your Online Shopping | ModMoney

This post may contain affiliate links. How many of you are big online shoppers? I have to admit, I will do almost anything to avoid fighting weekend traffic at the mall. My mother will tell you that I've always been this way. She used to beg me to go to the mall with her anytime I needed new clothes. In fact, shopping became a punishment for me. Whenever my sisters misbehaved, they went to time-out. Whenever I misbehaved, I went to the mall. Yes, I was quite the abnormal child. And trust me, I was a pretty good kid, largely influenced by the threat of this cruel and unusual punishment.

Over time, my extreme abhorrence for in-person shopping has evolved into a mild distaste. I still much prefer to shop online. Amazon Prime has made it so easy to ship almost anything in 2 days, and many retail stores are great about free shipping and returns. Y'all, I even have my toiletries shipped to me. Long are the days when I weave through Target and fill my cart with toilet paper, toothpaste, and paper towels to last a year.

Since I do most of my shopping online, I'm...

more
The Best Credit Card for Travel Rewards | ModMoney

A few months ago, Chase had the universe of credit card nerds (yes, that exists) going crazy over the release of its newest card, the Chase Sapphire Reserve. You can think of this as an upgrade to the Chase Sapphire Preferred (a must-have card until this new release). Y'all, the Reserve has all of the credit card nerds energized for a reason. In my opinion, it is the best travel rewards card on the market.

A quick caveat: I don't recommend the Reserve to someone who is starting out. If you are in the early innings of building up your credit score, I recommend a card with no fee and good cash back opportunities like the Citi Double Cash and the Chase Freedom. These were my first two credit cards, and I still have them today!...

more
Innovative Ways to Decorate Your Home on a Budget | ModMoney

For me, personal finance goes beyond understanding how to save and invest responsibly. It has everything to do with feeling good about managing my money, and that includes having fun spending it! A few weeks ago, Chris and I moved into a 2-bedroom apartment, which has been an exciting start for both of us. Of course, along with a new chapter should come new furniture and a fresh look, am I right?

In typical fashion, I must admit to spending hours planning furniture and decor purchases within our budget. While Chris is more impulsive, I research until I know exactly what I want and where to get the best price for it. This post shares some of my favorite purchases – planned and spontaneous – and the online tools I used to ensure the best deal.

more
The Ultimate Guide to Understanding Your FICO Score | ModMoney

Credit card spending is a great way to earn cash back, award points, awesome travel perks, and lucrative sign-up bonuses. However, in order to fully enjoy these benefits, it is imperative that you take a disciplined approach and have a solid FICO score. This post will cover the basic building blocks of your FICO score: what it means, how it's calculated, and how you can find yours.

more

POPULAR POSTS

SUBSCRIBE

  • Hilton.Com
Erica Holland | ModMoney

Meet Erica

Erica is an Austin local, Duke grad, and creator of ModMoney, a platform bringing a fresh perspective to personal finance. She believes financial health is an important part of living well and hopes to empower others to make informed, proactive choices with their money. Find out more.

STAY CONNECTED

  • Make Money While You Shop With Ebates | ModMoney
  • Capital One Spark Business Savings
  • Personal Capital | ModMoney

© 2016 ModMoney, all rights reserved