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AdvertisementA financial guru has criticized strict budgets, advocating for intuitive spending instead. Experts suggest balancing intuitive spending with realistic budgeting for financial health. But Dana Miranda, a certified personal finance educator, told CNBC Make It in a recent interview that strict spending plans can be "toxic." Instead, she recommended "intuitive spending" and thinking about your money "moment by moment." But she isn't convinced intuitive spending is a good alternative.
Persons: Dana Miranda, Miranda, Katrin Kaurov, Doug Carey, Carey, Kaurov, Julie Guntrip, Guntrip Organizations: CNBC, Jenius Bank
If you're spending your extra cash right now, it's a good idea to spend it on personal improvement. But deciding what to do with extra cash shouldn't just be about immediate fun if you can help it. And second, if you put the money in a high-yield savings account, it can earn interest. Let the money earn interestIt might take you some time to decide what to do with extra cash. Certified financial planner Jim Eutsler shared that you can park the cash in a high interest rate environment, such as a high-yield savings account or a CD.
Most of us think we're getting a deal when we shop at the dollar store. But after talking to some financial experts, I've started to realize that not every item at a dollar store is a deal. Carey found that at Dollar Tree, 120 ounces cost $15, while 164 ounces of the same detergent at Walmart cost $12.74. ToothpasteA quick grab you might be tempted to pick up at a dollar store is toothpaste to have around the house. While some of these savings might be just a few cents, this can add up overtime, especially if you're filling up a cart at a dollar store.
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