While some folks are of the opinion that Millennial’s affinity for avocados is the only thing keeping us from owning homes, we here at Paychecks & Balances offer opinions you can actually use. Opinions based on math and common sense when common sense is as uncommon as, apparently, Millennials who own a home. Marcus provides an update on the successes and lessons learned two weeks into the 50/30/20 Budget and Rich shares another win in the career column. This week’s PB segments we cover:

Money Minute

• What’s the first step to developing a budget and debt free plan you’ll actually use? Focus on defining your “why.”
• A quick tip to modernize the “envelope system” with a few simple updates to your online checking account(s).
• How you can break the cycle of YOLO, FOMO, and debit cards draining your financial tank with debt by a thousand debits.

This Week In Work

• Rich reflects on a recent promotion and the proactive steps he took to make his way towards another step in the American Dream: Middle Management.
• The pros and cons of the career ladder climb and why you might consider passing on a promotion if you’re a voluntold versus a volunteer.
• The change in expectations from staff and upper management as you go from the middle cubicle to the corner cubicle (open office concept models for the win?).

Sponsor

Special thanks to our sponsor, FreshBooks. To get a free 30-day trial of their super-easy-to-use cloud accounting software, visit freshbooks.com/paychecks and enter “paychecks and balances” in the How Did You Hear About Us section.

ASKPB

Have a career advice or debt free question? ASKPB! This week’s question comes from the social medias: We had a listener who went from having one direct report to more direct reports and they wondered if they should ask for more money as a result?

References

• ICYMI – PB48: Renting vs. Buying with Kirk Chisholm
  • Recommended Reading: ‘Renting vs Buying’
    • Should you rent or buy a home?
    • What is the true cost of home ownership?
    • What you don’t know about renting vs buying can cost you

Announcements

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