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.
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 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.
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.
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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”
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.
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!