Here’s an interesting question: If you live a frugal life, is your life harder than the life of someone who spends a great deal more money than you? Or, is it easier? And: If you’re frugal because you have to be, rather than because you choose to be, does that change the scenario? To this … Continue reading Is life more difficult for those of us who are frugal?
Buy a car, a cell phone or virtually anything expensive, and we usually don’t walk out the door without first being hit up for an extended service plan, or warranty. These warranties are sold as a way to “protect our investments”, but do they really work? The truth is these extended warranties often do nothing … Continue reading The truth about extended warranties, and what to do instead
Impulse buys – they are one of the amazingly tricky types of buying that exist for most people. It’s tricky because, as its name implies, these are emotional purchases. We see. We want. We buy. Even if it wasn’t on our shopping list. Even if we’re a money saving expert. Okay, here’s a case in … Continue reading How quickly can you spot an impulse buy?
In the beginning of 2015, things were humming along normally. The market was doing well, just like it had been since 2012. We were enjoying solid monthly increases to our net worth on the order of $15k to $30k some months. We were set to retire by the end of 2016, thinking that we’d have more … Continue reading Despite market losses, we’re up over $150k in 2015
I don’t say this about many financial companies out there, but Personal Capital‘s online money management system has seriously improved the way that my wife and I track our money (Vanguard has a similar system that I love to death, but of course, they only track Vanguard assets!). In the beginning, we used Mint, and … Continue reading How we use Personal Capital to track our money
One of the most spirited debates within the early retirement community revolves around the influence that a high level of savings (as well as income) has on a person’s ability to retire early. I have argued in the past that although a high income can help, an aggressive savings schedule is a far better measure to determine a person’s fitness for early retirement.
My rationale was simple: it is a person’s lifestyle that ultimately determines how long he or she can survive without a full time job post-retirement. Meaning, a more frugal lifestyle will generally enable earlier retirement than a less frugal lifestyle, regardless of income.
But yet, I would be remiss if I did not address the obvious monkey in the room. Continue reading “How much does income affect your post-retirement lifestyle stability?”
With all this talk about early retirement and the hilarious financial mistakes that I made in an earlier life, it is tough to consider the possibility that maybe, just maybe, all that money that I recklessly blew through in my 20s might actually turn into a good thing.
I have written before about how imperfect I truly am. Throughout my life, I have made some pretty common financial mistakes that I am literally paying for to this day. While I never saddled myself with high interest credit card debt, my spending habits were, shall we say, less than frugal.
For example, a year out of college I bought a used Corvette convertible for $25k, which happened to be just under a half year’s salary at the time. Just months out of college and BOOM, I had already blown through nearly half of my salary. Continue reading “Maybe spending all that money in my 20s was a good thing”
“Life is too short. I wanna have some fun now.” Or, maybe it goes something like “Life’s short, live a little”. However it is said, the underlying point remains pretty clear: don’t delay your ability to spend some serious cash. After all, “life is short”.
And you know what? I agree. I 100% agree that life is too short and, well, let’s have some damn fun before it is too late, shall we?
Working until you are 60 or older does not sound like much fun to me. Life is short, so why spend the most productive years of your life in an office? Live a little, damnit. Live!
To me, the best way to ensure a lifetime of having fun is to not work a day past your 40th birthday (or, perhaps better said, be financially independent by then).
Imagine for a minute hopelessly trying to blow out that trick candle that one of your jackass friends placed on your 40th birthday cake and thinking to yourself how freakishly awesome life is going to be in your 40s and beyond not commuting into an office, answering to managers, filling out status reports or delivering PowerPoint presentations. Ladies and gentlemen, this sounds like a hell of a lot of fun to me! Continue reading “Life is short, so live a little…they say”
Over the last couple of years, my wife and I have transitioned over to a philosophy of spending money on experiences rather than stuff – like trips to Sedona, Disney World, Glacier National Park for my birthday this coming July…even a pumpkin patch last October to get us into the mood for Halloween.
We simply enjoy experiences a lot more than stuff. To both my wife and I, the excitement of buying more stuff just wears off much too quickly, which generally leaves yet another object that once brought a smile to my face in the back of a closet, or a car that has just become any ol’ car rather than (cue exciting sound effect) “a Cadillac”. Continue reading “Lookie there! Spend money on experiences, not things!”
Welcome to the very first installment of “Lookie There!”, a series of posts that are designed to highlight interesting, thought-provoking or downright weird financial news or opinions from others bloggers on the Internet. The idea is to find the most interesting content out there and talk about it – right here.
Today’s topic is courtesy of Travis Pizel from Enemy of Debt, and he wrote about applying the principles of intermittent fasting, which is a dieting (read: “lifestyle”) technique where food is only consumed within an 8-hour window of time each day, to your spending habits. Continue reading “Lookie there! Apply intermittent fasting techniques to your spending habits”