Money Can’t Buy Happiness – Or Can It?

Posted on March 11, 2013 by Guest

The following is a guest post from Ryan at Your Life for Less. If interested in submitting a guest post, please read my guest posting policy and then contact me.

What would you do if you won the lottery? Would you buy everything you dream about? Would you take your once-in-a-lifetime vacation, buy your ideal palace, or even start the business you’ve had in your mind’s eye for years?

Even if you win the lottery, the chances are you won’t become that much happier. Studies show that happiness reaches it’s limit at around $75,000 (in the US, at least). Meaning once you earn enough to be “comfortable” (whatever comfort is for you – all your bills are paid, you have money to put away for savings and to buy the things you want), your happiness quotient is satisfied.

How You Spend It

So, if you do win the lottery, you’ll likely be somewhat happier, but not to the scale that most people think. In fact, many people that do win the lottery end up more UNhappy than happy. Because they blow the money on extravagant items they think will bring them happiness and they cut themselves off from friends and family who beg for money. Continue reading →

Beginning of March 2013 Blog Update

Posted on March 8, 2013 by Jeremy

Well I didn’t get a chance to do a blog update last week due to the Canon Rebel T4i camera giveaway starting last Friday. Beyond that excuse I am thinking of how to restructure my posting schedule.

While a blog is bound to evolve over time, I admit I’ve let the vision of Modest Money slide over the past few months. As I got busy with my job and other priorities, I’ve been writing less and less. Lately it’s been all guest posts other than my blog updates. I even had a blogger tease me about how I don’t really write these days when I attended a local blogger meetup. Go ahead, call me a sellout. I deserve it.

So going forward I am going to make more of an effort to write more of my own content. I do have a ton of guest posts in the queue though. So I will continue to publish those and I will keep accepting new guest posts from other bloggers. I really should write at least one of my own posts each week…and no not just these rambling blog update posts. Continue reading →

Why Paying Off Student Loans Should be a Priority

Posted on March 7, 2013 by Guest

Photo: DonkeyHotey

The following is a guest post from Ryan at Your Life for Less. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

If you’re a recent college grad, if you obtained an MBA or an undergraduate degree, chances are you have student loans. Two-thirds do. For those who did borrow, the most recent estimate of the bill is $26,500 per borrower.

This amount often includes a mix of private and federal loans. As you may have heard, private student loans are a time bomb for your finances. Paying for college using private loans is like paying with a credit card. But that doesn’t stop 33% of people in bachelor’s degree programs from taking out private loans at an average of $12,550 each.

Why people take on so much debt to pay for college is beyond me. It’s so bad that some are forced to put off dreams like having kids or buying a house. But here we are, and it must be dealt with responsibly to limit the damage. Continue reading →

Frugality, Patience and the Digital Age

Posted on March 6, 2013 by Guest

Photo: Soon.

The following is a guest post. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

Frugal living requires you to shift your thinking about our consumerist culture. You must seek fulfillment through experiences, not from products. But to believe you can always transcend earthly desires is akin to believing you can sustain a strict diet that never allows for sweets. As someone who attempted such diets in my formative years, I know they all end with you staring into the bottom of an empty pint of ice cream, with several empty containers of [take your pick: oreos, cheese puffs, gluten-free brownies] hidden at the bottom of the recycling bin. Hey, at least you recycled!

Even a frugal shopper will be hit with the urge to consume. Long-term frugal living requires you to reframe the desire for material goods not as a blemish on an otherwise minimalist record, but
as an unavoidable part of living in our modern world. You must set limits, but not such extreme limits that you end up seeking retail therapy once a month. Continue reading →

Is There Money In Politics?

Posted on March 5, 2013 by Guest

Photo: Gage Skidmore

The following is a guest post. If interested in submitting a guest post, please read my
guest posting policy and then contact me.

When you were young, you may have said that you wanted to one day be the President or a congressman. In fact, it seems as though such aspirations are right there with being a firefighter or police officer for most young children. I had these aspirations myself once (and still sometimes do).

But as we grow older, we see the reality of politics. It is a career filled with risks, publicity, and being hated by half of the population. Instead of glamorous speeches and massive houses, you are just as likely to end up unemployed. Politics is a complicated career path, and even those who are successful see a variety of major setbacks in their careers.

So is there any money to be made in being a career politician? Maybe, if you are successful. Let’s take a look at some of the financial considerations of a political career. Continue reading →

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