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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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!

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

Super Coin Flip Risk Assessment

In the Coin Flip Risk Assessment, I presented a hypothetical coin flip as an introspective view of your feelings on risk. Well, one of my readers, (OK fine, it was my wife) put the screws to me and gave me a hypothetical Super Coin Flip Risk Assessment with the same premise as my initial question.

Risk Assessment

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Procrastination is the Enemy of Winning – Save Money on Insurance

As I’ve mentioned in previous posts, at the beginning of this year I thought I had my financial life in good order, but I was wrong. The more I searched for ways to improve my finances, the more opportunities I found. Over the past few months, I’ve learned of a number of new ways to earn or save some money. One of my motivations to start this blog was to create an easy way to share these opportunities with family, friends and others seeking to optimize their finances.

This article is the second in a series of posts about the actions I have taken to save or earn more money. The first was about increasing the amount of interest I earn on my savings.

Winning Personal Finance Move #2

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8 Winning Personal Finance Tips for Newlyweds!

I recently attended a wedding and want to wish a heartfelt public congratulations to the lovely bride and groom! Since I didn’t get a chance to give a toast over the weekend, I would like to offer some unsolicited financial advice for all see. Without further ado, here it goes:

Continue reading “8 Winning Personal Finance Tips for Newlyweds!”