Back Off, I’ll Mind My Own Savings Rate

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.

Savings Rate
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The Winning Gathering (2-8-18)

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.

Skiing in Snowbird

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3 Steps to Improve Your (Financial) Health In 2018

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!

Financial Health

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The 9 Biggest Money Regrets of 2017

[I have something a little different for you today. My friends from down under at MOZO have offered to share their 9 biggest money regrets of 2017. I’m sure we can all relate to one or two or well…all these. Check them out!]

*****

As 2018 draws ever nearer, so does a fresh start for your finances. While nothing soothes the soul quite like a clean slate, it’s often handy to be able to look back on, and learn from, your own financial mistakes and mishaps. Let’s be honest, we’ve all made a few.

Piggy Bank

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I Tried to Cut the Cord and Failed!

So… it’s official. I’m not only the least fascinating financial blogger in the industry, but also the worst. I tried to cut the cord and failed! You can’t ever accomplish your financial goals and pay for cable at the same time, right? I’m doomed.

TV
Not my actual TV

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New Baby!?! How To Save Money on Child Expenses

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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.

Save on child expenses

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”

My 7 Most Regrettable Financial Decisions

There are a whole bunch of bloggers talking about their biggest financial mistakes on the magnificent web of information. I think this is a fantastic exercise because we can learn so much from these errors. Since you are reading Winning Personal Finance, I of course haven’t made any mistakes (cough cough). Luckily, I’ve avoided some of the big ones like consumer debt, high investment fees and not saving at all.  Unfortunately, my financial life has not been perfectly streamlined. Without further ado, here are my 7 most regrettable financial decisions and more.

Regrettable Financial Decisions

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Less Stress and More Happiness

Less Stress and More Happiness

To explain why I think financial independence leads to less stress and more happiness, let me tell you a brief story. One day at work my boss called me into an unscheduled meeting:

Boss: “Jason, we are going to have to let go you. The company has decided to go in a different direction.”

HR Woman: “We are prepared to offer you 6 weeks of severance…”

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How Much Do You Need to Retire? / What is the Formula for Financial Independence?

How Much Do You Need to Retire?

 

 

 

 

3-Year-Old Son: Daddy, can you play trains with me?

Me: I’m sorry, I can’t play right now, I need to go to work.

3-Year-Old Son: [Sad Face]

Me: One day, I’ll have enough money that I won’t have to work.

3-Year-Old Son: And then you can stay home and play with me all day? [Happy Face]

Unfortunately, by the time I have the money to stay home, I’m not sure my son will want me to play trains with him all day. I expect that he may have other interests by then.  I was very impressed by how quick he grasped the concept of doing what you want with your time once you have enough to support yourself.

Once You are Financially Independent You Can:

  • Continue working to increase your lifestyle
  • Quit a job that makes you unhappy
  • Start a business without the pressure of needing to succeed right away
  • Spend more time with friends and family
  • Spend time on a hobby you are passionate about
  • Work to financially support or volunteer for your favorite cause
  • You may even be able to do a number of these things, – or thousands of others – the possibilities are endless!

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