About The Cash Flow Diaries

Welcome!

Recent Post

10 Self-Help Books Everyone Should Read in Their 20s

                                        

                                                            Photo by Alicia Christin Gerald on Unsplash


This article may contain affiliate links.


Your 20s can feel both exciting and overwhelming. This is a time where you are finding yourself — whether that be your style, career, hobbies or dislikes. 

The good news is you don’t have to do it alone.

One way to gain wisdom during this time in life (at least without learning the hard way) is to read books that have stood the test of time.

Here are 10 self help books that can help guide you through the chaos and set your future self up for success.


1. The 7 Habits of Highly Effective People — Stephen R. Covey

Get it here.

This book is a timeless classic that teaches you how to be proactive, set priorities, and create lasting habits that actually stick. 

This is a perfect read if you’re building the foundation for your career and life. Covey lays out a roadmap for building discipline and focus during a decade where everything feels uncertain.


2. Atomic Habits — James Clear

Get it here.

Small changes compound into big results.

James Clear shows you how to use small wins as momentum, making self-improvement less intimidating and more sustainable. His system is simple enough to start right away but also juuust powerful enough to transform your long-term future.

Read More...

6 Things Gen X Wastes Money On, According To ChatGPT

6 Things Gen X Wastes Money On, According To ChatGPT

 


Recently, I took a look at how both Gen Z and Millennials waste their money. This week, we’re going to look at Gen X with the help of ChatGPT.


Gen X is often referred to as the “forgotten generation”. Still too young to comfortably retire, but not young enough to set many trends, Gen X is currently sandwiched between caring for aging parents and supporting their almost/fully grown kids.

As a generation, they’ve been through a lot. In particular, Gen X has been unwillingly subjected to multiple recessions and a constantly rising and falling housing market. Because of this, Gen X are typically cautious when it comes to money. But that doesn’t mean they are immune to wasting it.


1. Cable AND Streaming

I thought this one was a bit silly upon reading, only to discover that Gen X spends a significant amount of money on both cable television and streaming services. While some have realized their financial mistake and cancelled one or the other, many Gen X are still spending money on redundant entertainment services. 

Sometimes it seems like having more of these will give a person more options, when it really it just eats a whole in their wallet.


2. Brand Loyalty

I can’t even blame them for this one- if a brand treats me right, they’ve usually got me for life. But there is definitely a thin line between staying loyal and wasting money to avoid change. About 50% of Gen Xers stay loyal to their favorite brands.

My favorite example to use here is groceries. 

Many name brand items you can buy use the same or very similar ingredients to generic and no-name brands.

You can even see this in more unconventional categories like makeup. Instead of going for the pricey face lotions at Sephora, you can find what is essentially the same product at Walmart for much less.

Read More...

6 Things Millennials Waste Their Money On, According To ChatGPT

6 Things Millennials Waste Their Money On, According To ChatGPT

 


Recently, I took a look at my own generation’s spending. I was able to vouch on many categories because of my experiences as a Gen Z.

For this article, I decided to ask ChatGPT what it thinks Millennials waste the most amount of money on and fact checked it’s answers. Here’s what it said:


1. Subscriptions

Millennials have quite literally been dubbed the “Subscription Generation” in past times. With an average of 5.5 subscriptions per person, it’s no shocker to hear that millennials also spend over $100 on average on subscription services.

Subscriptions can feel cheap individually. But when you have several $10 subscriptions per month, that can add up fast.


2. Convenience Spending

Similar to Gen Z, Millennials just really don’t like cooking at home. 

And with the abundance of apps like UberEATS and Doordash, it’s easier than ever to get whatever you want delivered straight to your house. But just like gen z, millennials are overspending heavily in this category. A study by LendingTree found that Millennials actually spend the most per month compared to other generations, at about $575 a month. Or… $6,900 a year.


3. Overpriced Self Care Products

Millennials spend the most on wellness products — think machine guns, beauty treatments, etc- at about $115 per month. Don’t get me wrong, I love skincare and treating myself at times, but a lot of the treatments we see hyped up are simply exaggerated pseudoscience.

Read More...