Financial Margin

Financial Margin

By Jared HumphriesBusinessEducationInvestingCourses
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Financial Margin episodes

  • Replacing Lifestyle Creep with Margin (Part 2)
    Lifestyle creep can directly influence the amount of unsecured debt we carry and cause us to have little to no margin in our personal finances. Has your discretionary income increased therefore, increasing what you consider to be your basic needs? Well you’re not alone, today we are looking at 10 components that might be telling as to whether you are experiencing lifestyle creep. Daily decisions have a tendency of adding up quickly without necessarily realizing the impact that they are having on your financial margin. It’s easy to feel the pressure of media, marketing campaigns, family, friends, or even neighbors in influencing decisions, but the decision to make these purchases is on you.
    8 min
  • Replacing Lifestyle Creep with Margin (Part 1)
    Lifestyle creep can directly influence the amount of unsecured debt we carry and cause us to have little to no margin in our personal finances. Has your discretionary income increased therefore, increasing what you consider to be your basic needs? Well you’re not alone, today we are looking at 10 components that might be telling as to whether you are experiencing lifestyle creep. Daily decisions have a tendency of adding up quickly without necessarily realizing the impact that they are having on your financial margin. It’s easy to feel the pressure of media, marketing campaigns, family, friends, or even neighbors in influencing decisions, but the decision to make these purchases is on you.
    11 min
  • 7 steps to downsize your lifestyle without anyone noticing (Part 2)
    Part 2: In part 2 of downsizing your lifestyle, I explain that people are usually more consumed with what they are doing to notice what you are. So often we think there are so many people watching, but when you scale back that lifestyle you may realize that the persona you were trying to uphold was only harming you. Margin was created to be a 12-month transformation process for your personal finances. I focus on Audit, Automate, and Augment and in this episode explain what that means. Part of this automating part of the process is determining what aspects of your finances have grown beyond what you can feasibly afford.
    8 min
  • 7 steps to downsize your lifestyle without anyone noticing (Part 1)
    Part 1: In part 1 of downsizing your lifestyle, I will begin to discuss a systematic plan for scaling-down your lifestyle without others seemingly noticing. Sometimes we just need a systematic plan like this to rewind our lifestyles to gain back margin. Oftentimes people can have a tough time slowing their spending, due to the life they are trying to uphold. Surprisingly, many times due simply to external pressures. This episode focuses on the quick wins to create margin.Credit: 7 steps to downsize your lifestyle without anyone noticing
    9 min
  • Reverse Lifestyle Creep
    It’s easy for our lifestyles to expand as we get that raise or have an additional income source, but it is a lot more difficult to reverse course and downsize. Our society is used to immediate results and instant gratification but oftentimes when we have inflated our lifestyles beyond our means, we cannot take the easy way out. When we have to slow down or even backup, we easily lose momentum in reaching our financial goals. So being watchful that our lifestyles are manageable is key. As people increase their quality of life, they can inadvertently negatively impact this by the stress in maintaining the lifestyle you have expanded to.
    10 min
  • Avoid Lifestyle Creep
    Lifestyle creep is seemingly acceptable in our culture today. However, whether it’s our addiction to debt, our overconsumption, or our need to keep up with the proverbial Jones’, it is difficult to avoid the trap. Our lack of margin has caused this situation to become untenable. Although everything has a lifespan and a cycle, we seem to think that our finances and lifestyles are insulated from that. I will discuss what external pressures and needs are either non-essential or even frivolous and whether your lifestyle inflation is actually sustainable.
    11 min
  • 10 Steps to build your credit (Part 2)
    Part 2: In part 2 of the 10 steps to build your credit, I will discuss the importance of reviewing your credit on an annual basis, preferably going into a new year. This will ensure you are aware of what is being reported and prepared to act on any errors that may exist. It will be important to have this information in order to assist in building a Plan to Spend to pay down and off your debt in the proper order. This credit report looks at past behaviors, but your Plan to Spend is intended to look forward and assist in improving your decision-making.
    6 min
  • 10 Steps to build your credit (Part 1)
    Part 1: In part 1 of the 10 steps to build your credit, we will discuss options when it comes to establishing and improving your credit score. It is easy to focus on the importance of having a good credit score and on managing credit well, while missing out on whether you are actually managing money well.
    13 min
  • Where did credit scores come from?
    The credit scoring industry has two main players that have built scoring models in order to deem what types of credit and how much credit is good. It’s important to know the makeup of your own credit score, so in this episode we will look at when this industry emerged and how the three main credit reporting agencies look at your creditworthiness. I explain what a healthy credit score looks like and what options this score can open up if maintained.
    6 min
  • We are Addicted to Debt
    Since we are typically a product of our environment, we have seemingly become accustomed to placing as much of our lifestyle on credit as possible. However, with our average debt per individual ballooning to $51,900, we are left with no financial margin. We have $14.35 trillion in aggregate debt, with no plans of slowing down. Being that the majority of the population cannot cover a $1k emergency without going into debt, we utilize debt in many forms as a personal bailout plan. Unfortunately, many of this is further exacerbated by credit being further extended on unsecured debt products with high interest rates. The real question is, can you actually afford the lifestyle you live? Not can you afford the payments, but can you afford to purchase the lifestyle you have without debt?
    12 min

About Financial Margin

From the publisher's feed

Millennial Margin was formed to provide people with a unique approach to personal finance through the strategic building of Margin. Margin is the space outside the chaos and in a society that continues to push an agenda of a fast-paced, high stress, low satisfaction environment, Margin is ever-so-missing. So what's the solution? The solution is to focus on what adds the most value to you specifically, not wanting what others have just for the sake of wanting what others have. Instead finding contentment in simplifying life through a process I call audit, automate, augment. This allows you to see what you specifically want, where you are and where you want to be, backing that out into actionable steps. Those steps are then automated and scaled. Personal finance is well personal, so Margin focuses on building momentum through monthly themes broken down into weekly series and further into daily episodes focusing on you. Allowing for a positive compound effect to set in allowing you to truly gain control of your personal finances therefore, building intentional Margin into life. I am thankful to be a part of your journey and hope that you find this resource transformational. Now let's build some Margin!!