Personal Finance What is the 3 generation wealth rule? February 6, 2026 by Myaya | Leave a Comment The three-generation wealth rule suggests that wealth is often lost by the third generation. This phenomenon is encapsulated in the saying, "Shirtsleeves to shirtsleeves in three generations." The first generation creates wealth, the second maintains it, and the third squanders it. Understanding this cycle can help families develop strategies to preserve wealth across generations. Why […] Read more »
Personal Finance Do minimalists spend less money? February 6, 2026 by Myaya | Leave a Comment Minimalists often spend less money because they focus on intentional living, prioritizing needs over wants. By embracing a minimalist lifestyle, individuals can reduce unnecessary expenses and save more effectively. What is Minimalism? Minimalism is a lifestyle choice that emphasizes living with fewer possessions and focusing on what truly matters. This approach encourages individuals to declutter […] Read more »
Personal Finance What is the 50/30/20 rule budget? February 6, 2026 by Myaya | Leave a Comment The 50/30/20 rule budget is a simple, effective method for managing personal finances, dividing income into three categories: needs, wants, and savings. This budgeting strategy helps individuals allocate their monthly income efficiently, ensuring essential expenses are covered while also setting aside funds for future goals. What is the 50/30/20 Rule Budget? The 50/30/20 rule is […] Read more »
Personal Finance What are the 4 types of budgeting? February 6, 2026 by Myaya | Leave a Comment Budgeting is a crucial financial skill that helps individuals, businesses, and organizations manage their resources effectively. There are four main types of budgeting: incremental, activity-based, zero-based, and value proposition budgeting. Each type serves different purposes and can be applied in various contexts to achieve financial goals. What is Incremental Budgeting? Incremental budgeting is a traditional […] Read more »
Personal Finance What is the 70/20/10 rule budget? February 6, 2026 by Myaya | Leave a Comment The 70/20/10 rule budget is a simple yet effective budgeting strategy that helps individuals manage their finances by dividing income into three categories: 70% for expenses, 20% for savings, and 10% for debt repayment or investments. This method encourages disciplined spending and saving habits, making it a popular choice for those looking to improve their […] Read more »
Personal Finance What is a contingency plan in a budget? February 6, 2026 by Myaya | Leave a Comment A contingency plan in a budget is a strategic approach that allocates funds to address unexpected financial needs or emergencies that may arise during a budgeting period. This ensures that an organization or individual can handle unforeseen expenses without disrupting their financial stability. What is a Contingency Plan in a Budget? A contingency plan in […] Read more »
Personal Finance What is a good contingency budget? February 6, 2026 by Myaya | Leave a Comment A contingency budget is a financial plan that allocates funds for unexpected expenses or emergencies. It acts as a safety net, ensuring that projects or personal finances can continue smoothly despite unforeseen costs. Generally, a good contingency budget is about 5-10% of the total budget, depending on the complexity and unpredictability of the project or […] Read more »
Personal Finance Is minimalist making profit? February 6, 2026 by Myaya | Leave a Comment Minimalism as a lifestyle has gained popularity, but many wonder: Is minimalism making a profit? While minimalism itself isn’t a business, industries around it—like decluttering services, minimalist design, and digital content—are indeed profitable. This article explores how minimalism impacts financial success and the ways it generates revenue. What is Minimalism and How Does It Relate […] Read more »
Personal Finance How much more should you get paid as a contractor? February 6, 2026 by Myaya | Leave a Comment As a contractor, determining how much more you should get paid compared to a salaried employee can be complex. However, understanding the factors that influence contractor pay can help you negotiate effectively and ensure you’re compensated fairly for your expertise and flexibility. What Factors Influence Contractor Pay? When negotiating your pay as a contractor, consider […] Read more »
Personal Finance What is an example of a payment schedule? February 6, 2026 by Myaya | Leave a Comment An example of a payment schedule is a structured plan outlining specific dates and amounts for payments related to a financial obligation, such as a loan or contract. This schedule helps both parties manage cash flow and ensures timely payments. What is a Payment Schedule? A payment schedule is a detailed plan that specifies when […] Read more »