Hawley Personal Finance

Providing objective, practical and as-needed advice to answer your personal financial questions.

As of June 2020, I am no longer creating new content. Some details may change from year to year, but my approach takes a long view. It is my hope that the concepts and philosophy in the archives prove timeless and helpful.

Money Lessons from a Non-Frugal Purchase

I'm usually pretty frugal. I'll often do without something I want but don't need, or I'll find a cheaper alternative. It's just my nature.

But just after the holidays, I decided to indulge. I bought a navy blue Brooks Brothers blazer I've had my eyes on for years, the kind of thing that never goes out of style and that I can wear in all kinds of situations.

As silly as it might sound, I'm really excited about it! It's something I've wanted for a while and I can't wait to wear it. But I'm also excited about the deal I got ... Read More.

4 Reasons Why Renting Is Better than Buying

Have you ever felt pressured to buy a house? Maybe from your friends, your family, your co-workers, or even yourself? Like you haven't actually made it as an adult until you own your home?

It's a common feeling, but the truth is that buying a house ISN'T always the right decision. In some cases renting is a smarter move, both for your wallet and your lifestyle ... Read More.

The True Value of Money

Why are you working so hard to make good financial decisions?

Why are you tracking your spending, living by a budget, paying off debt, building an emergency fund, contributing to a 401(k), and everything else you're doing to improve your financial situation? What's your endgame here? Have you thought about it? I mean, really sat down and thought about why you’re making all this effort? ... Read More.

You Can’t Invest Your Way out of Not Saving Enough

If your primary focus when it comes to investing is how to find a better strategy with a better return, you're doing it wrong. The truth is that until you've built up a sizable portfolio, your investment return, surprisingly, doesn't matter that much.

What really matters is your savings rate ... Read More.

Pay More to Save More on Your Student Loans

Already high, student loan debt creeps higher each year. In 2013, the average borrower who had taken out student loans graduated from college with $28,400 in debt, according to the Institute for College Access and Success. New estimates for the class of 2015 put that figure even higher, at $35,000.

Meanwhile, the average starting salary for new graduates with a bachelor’s degree is $48,127, according to the Society for Human Resources Management.

That’s a tough way to start your professional career. And if that’s what your situation looks like, it’s probably tempting to just make your minimum monthly payments and know that your debt will be gone in 10 years.

But that’s not the only way to go ... Read More.

The Boring Secret to Getting Rich

The media likes to paint a certain picture of what it means to be rich — huge mansions, expensive cars, high-powered Wall Street or tech-startup-type jobs. If you buy into that image, being rich may feel like an impossible dream.

But the truth is that most “rich” people live very normal lives. You probably wouldn’t even know they were rich if you saw them because they don’t fit the stereotype. Most rich people are a lot like you and me. They just know a secret that, while incredibly effective, isn’t very sexy ... Read More.