I’m excited to introduce you to Jason (not to be confused with myself) from the Wealth Hound. He’s volunteered to share his pay off debt or invest decision and the process behind it. He even coined a new term “debt snowflaker” that I’m sure you will find interesting. Without further ado…
Let’s Talk About Savings Rates
If you read enough personal finance articles, you will soon come across the concept of a “savings rate.” This makes perfect sense. Your savings rate may be the most important factor to building wealth and becoming financially independent. Articles pushing you to increase your savings rate make sense. But sometimes, I find the messaging too aggressive for my tastes. To those who shame their readers into saving more, I say: back off, I’ll mind my own savings rate.
UPDATE —> We Won!!! Thank you for voting. I’ll be sure you let you know when the next round begins.
The Winning Gathering is a roundup of posts from around the Internet that I feel compelled to share with you. Most cover topics similar to those I usually write about. Usually, they’ll have a different twist or level of depth than I’ve discussed before. I’ll also include any posts I’ve written that were published in a different corner of the web.
The Cabin Mortgage Payoff
Editor: I’d like to introduce you to The Graying Saver. He’s chasing financial independence (FI) and early retirement as well. BUT he’s not willing to give up his beautiful looking North Carolina cabin (a second home) in order to do so. There’s still a mortgage on this property and he has to decide between using his extra savings to pay down the mortgage or invest.
I think you will appreciate his story.
I recently wrote about a variety of factors impacting whether one should pay off debt or invest. Everybody’s financial situation is different and this decision has numerous variables. I thought it would be helpful to share stories and reasoning from those who’ve made this decision. Below is a set of questions in which I interviewed the most willing participant I could find:
UPDATE —> We Won!!! Thank you for voting. I’ll be sure you let you know when the second round begins.
I need your help! It should only take a minute.
When I started this blog, I emailed the first post to a handful of friends and family. I asked if there were any personal finance topics they wanted me to cover. There was just one topic requested by more than one person and it impacts most of us. The question is: should you use extra money to pay off debt or invest?
One of my most loyal readers requested I write this post. And when she suggested it, the topic became a top priority. Thanks again to everyone out there for reading and sharing my posts. Having people I know in real life – along with those of you I don’t know personally – read my stuff feels amazing. I hope this list of three steps to improve your financial health helps you start the year off on the right foot!
Happy New Year! I have two posts to share today. I’m living one dream (read on) and focusing on the next ones (via my 2018 Goals).