Author: sowadimereapadollar

Sometimes, it’s all too easy to monitor and manage the details—to sweat the small stuff, if you will.  What I mean by that is there’s no shortage of books, articles, and other literature (including some of my previous articles) about how details matter.  And details do matter!  But when you translate that into personal finance, … Continue reading Sweating the Details and Getting Nowhere? Try this Instead…

As I mentioned in another article (“The Three Budget Overages I Never Question” – https://sowadime.com/2020/08/10/three-budget-overages-i-never-question/), charitable giving is one of the most important budget items for the Sow a Dime & Reap a Dollar household.  It’s something my wife and I were taught to do as young children and something we prioritize every month.  Hopefully … Continue reading Supercharge Your Giving

Because I don’t want the title of the article to intimidate anyone, let’s first define an intangible asset.  Instead of citing detailed accounting guidance, here’s the simplest definition I could find: “an asset that lacks physical substance.”  You see, it’s all too easy in the realm of personal finance to focus on those physical (read … Continue reading Intangible Financial Assets – Hint: It’s Not All About the Money

A couple of days ago, the Sow a Dime & Reap a Dollar household encountered a situation that reinforced the importance of having a financial Plan B.  Thankfully, we had a backup plan ready and deployed it quickly; however, I wondered what could have happened had we not had Plan B on standby.  First, let … Continue reading The Importance of Plan B

“If I had a million dollars, I would…”  Most of us have heard people make this statement on many occasions in our lifetimes.  Think about the last time you heard someone say it—how did they complete the sentence?  Did they have a real, tangible, detailed, actionable plan that followed the first part of the statement?  … Continue reading If I Had a Million Dollars…

As we embark on the last article in the three-part series, I want to cover what emergency savings are good for and what they aren’t.  There are hundreds of benefits to emergency savings.  A few examples are: Helps you sleep at night Lowers stress levels Encourages more diligent spending Manifests in better financial decision making … Continue reading Part 3: Emergency Fund versus Emergency Strategy

My goal for the second part in this three-part series is to recommend actions for when you’re about to draw from your emergency fund, have been drawing from your emergency fund, or are nearly out of emergency fund money.  The reality is the strategies for all three situations are nearly the same—the main difference is … Continue reading Part 2: Emergency Fund Emergency

Recently, a headline grabbed my attention.  That doesn’t happen often these days because I’ve vowed to be more aware of and intentional about ignoring sensational headlines, mostly because the articles typically don’t have much substance or meaningful analysis behind them.  But this one caught me—hook, line, and sinker.  The article I read was centered around … Continue reading Part 1: Emergency Fund – A False Sense of Security?

Have you ever pondered if the premium cleaning solution is worth the extra money?  Is it truly THAT much better than the generic or store brand versions?  On the opposite end of the spectrum, is the premium couch THAT much more durable than the cheaper versions?  In this article, my goal is to explain why … Continue reading Paying a Premium