When my wife and I first dated, I had to fly to Dallas to see her. She offered that I stay in her apartment while she goes back to work, which I accepted without hesitation. I was too cheap to get a hotel room. A whirlwind romance followed, I proposed, …

You’ve seen it in the news, especially during an economic depression. A man loses his job, gets into a big pile of debt, runs out of options, and then kills himself. In more tragic cases, he takes his whole family with him. If you think having a job is stressful, …

How do you call an investment that failed? Answer: a long-term investment! Far too many investors think it’s a joke to stick with underperforming funds in their portfolio— selling them in favor of attractive ones— turning temporary losses into real ones. Nothing wrong with buying and selling based on a …

One of my proudest accomplishments is being able to finish our basement with my own hands. It now comes with a full bath, laundry room, home theater, and a mini gym. I did most of the labor myself, including the electrical and plumbing, working mostly weekends with occasional help from …

I’m not going to lie to you. Financially, it has been an excellent year for us as a couple. With no mortgage to think about and the kids’ college savings almost funded, our cash reserves have been piling up faster than we can invest. If Trump’s win, four years ago, …

At least that’s what I think former Wharton professor and economist Joel Waldfogel is implying in his book Scroogenomics: Why you shouldn’t buy presents for the holidays (Princeton University Press).
In a 2012 interview with Bloomberg, Waldfogel argues that Americans end up wasting billions of dollars on presents during the holiday season every year:
“Normally, when we spend money on ourselves we only buy things that they’re worth at least the price. So if I see something worth $50 to me, I’ll buy it. Normally, spending provides some measure of satisfaction.”
He then contrasts this to giving gifts to others.
“Gift giving is really different. If I set up to spend $50 on you, I’m operating at a huge disadvantage– I don’t know what you like or what you already have. I could spend $50 and buy something that is worth nothing to you.”

As cliché as it sounds, the first million is the hardest. Having achieved recently my second in four short years instead of fifteen— saving for my first— is a testament to this. But why exactly is that? The short answer is it takes money to beget money. The more money …

What is the shortest path to wealth? Frankly, I have three words for you: “Marry for money.” Either that or “Win the lottery.” Neither is realistic nor practical unless you happen to be extremely attractive or incredibly lucky. If you ask a few personal finance gurus, however, you’ll get differing …

My first real encounter with death occurred while I was in Manila many years ago. I was riding a cab on my way to the City Hall when I was awakened from my short nap by the driver who was frantically exclaiming in Tagalog, “May tao, nasagasaan ng trak!” A man …

If you haven’t heard of Imelda Marcos’ legendary 3,000 pairs of shoes, it’s either you’re too young or live under a rock. Imelda Marcos was the Evita Peron of the Philippines, only greedier and more corrupt. Her conjugal dictatorship with the late president, Ferdinand Marcos, is listed in the Guinness …