PlanEasy

Personal finance made easy.

“Welcome to the PlanEasy blog! We make personal finance easy.

Check out our latest posts.”

 

– Owen

Owen Winkelmolen

Financial planner, personal finance geek and founder of PlanEasy.

“Welcome to the PlanEasy blog! We make personal finance easy.

Check out our latest posts.”

 

– Owen

The Simple 50-30-20 Budget

The Simple 50-30-20 Budget

I like simple.

Simple is easy. Simple is efficient. Simple means I can spend more time on what matters.

When it comes to budgeting, I want things to be simple. I love personal finance but I don’t want to spend hours budgeting.

The problem with budgeting is that it’s pretty easy to get lost in the weeds. It’s easy to start tracking every transaction and then budget for it. It’s easy to get lost in the nitty gritty of budgeting and forget what the true purpose is, to manage your spending.

If you can manage you spending with a three-line budget then that works, right?!? It serves its purpose. Why go into more detail?

The 50 30 20 budget is the simplest budget there is. You split your income into three categories. Essentials, 50%. Personal, 30% Saving, 20%. That’s it!

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Reduce Your Investment Risk (For Little To No Cost)

Reduce Your Investment Risk (For Little To No Cost)

Investing is risky. That’s the price you pay in exchange for higher returns.

If you wanted zero risk you’d put your money in high interest savings account. But then your returns wouldn’t even keep up with inflation. Over the long run, a no risk investment is essentially losing money because its worth less and less each year.

Buying bonds offer a slightly higher return, usually above inflation, but that comes with additional risk. Bond prices are sensitive to interest rates and the economy. There is also the risk of default.

Equities provide an even higher return. This is exchange for much higher risk.

So how do you go about reducing your risk for little to no cost? First let’s discuss exactly what we mean by risk.

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Is It Even Worth Saving Money In Your 20s? Yes! For These Three Reasons

Is It Even Worth Saving Money In Your 20s? Yes! For These Three Reasons

There was a great personal finance question from a user on Reddit the other day that basically asked if it was even worth saving money in your 20s. The user asked r/PersonalFinanceCanada “is it even worth saving money while you’re young?”

This is a GREAT question. The quick answer is YES!

There were few good responses that covered the three main reasons why saving now, even on a lower income, is still the right thing to do.

Let’s review the three reasons why saving while you’re young is so important…

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