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.
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.
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:
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!
I recently attended a funeral. But unlike most, this funeral wasn’t a somber event. In fact, it was more like a tribute since the deceased lived a long and fulfilled life, and it felt like a celebration of the person. As these things tend to do, it got me thinking about my own life. Two specific questions came to mind:
If I passed away today, what would be the highlights of my eulogy?
How would they differ from what I’d want them to be?
I talk quite a bit about my own efforts to attain Financial Independence (FI) and the reasons why it’s important to me. Today’s post is going to be a little different. Below you’ll read about some huge news in the Personal Finance community, which all happened on Monday (12/18/2017). And behind these stories are five real people. Their actions illustrate the flexibility and fun that financial freedom offers. I hope you’re as inspired by these amazing examples of financial independence as I am.
I’ve mentioned before that I’ve always wanted to become financially independent (FI). I may not have known the term “FI,” but it’s always been my goal. With that in mind, I was focused on making effective financial decisions. At the top of my list: becoming a homeowner. I heard that renting meant “throwing money away” (in reality this is not always true) and I never wanted to do that. Here’s the story tallying up my wins and losses from buying a condo at 24.
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My family recently received the best kind of dividend. He’s small in size and already has made a huge impact on our lives. Our family of three has become four, as we welcomed our second son into the world.
Once the initial shock and joy wore off, I remembered that kids are expensive. They’re also unlikely to speed up a plan toward Financial Independence. Well, unless that plan is to have your kids support you.
When it was time to write this post, I was a little sleep deprived. With a foggy brain, I decided to reach out to some experts in the Personal Finance Blogging community. I asked for their strategies on keeping the cost of children under control. I think you’ll like their answers and expect you’ll also find some ways to save money on child expenses. Continue reading “New Baby!?! How To Save Money on Child Expenses”