Bankruptcy. From the first time you heard someone say it, you’ve known that word carried some kind of social stigma. In Monopoly, players who go bankrupt are out of the game — “Do not pass Go, do not collect $200,” etc.

Fortunately, real life isn’t a board game. In life, bankruptcy isn’t nearly as bad (or even uncommon) as you might think. In fact, one in ten American households declared bankruptcy in recent years. And yes, there are even some benefits to filing either Chapter 7 or Chapter 13 bankruptcy.

If you’ve had a hard time saving up for a dream vacation or new vehicle, you’re not alone. Sticking to a budget or saving for a major purchase is just plain hard for most people. Fortunately, our own brain chemistry plays a powerful motivational role when it’s time to take action. In order to achieve major money goals, learning how to harness your own brain chemistry’s power is key for success. In fact, a series of small wins is the quickest path to achieving major financial goals — no matter how large!

Looking for a practical money strategy involving your paycheck? Financial industry experts recommend following the 50/20/30 rule. According to the 50/20/30 rule, 50% goes to needs, 30% to wants, then put the remaining 20% into your savings. This rule’s based on dividing your after-tax income in ways which should help you cover your retirement expenses. And best of all, it encourages you to have some fun along the way!