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Category: Saving (page 2 of 3)

There Is No Excuse for Being a Financial Moron

This week, we have a contribution from Mr. Groovy from Freedom is Groovy. He and his wife are groovy freakin freedomists from North Carolina who blog about financial freedom and libertarianism. They are a great read and it is an honor to have them share with us today. Enjoy.

 

Prior to my fortieth birthday (I’m 55 now), I was a financial moron.
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It’s Time to Fix your Finances

This week, I have learned that our water tax bill just jumped from about $90 to a whopping $600 because of a small plumbing issue that was leaking fresh water down the drain twenty-four, seven for the past year!!! I never looked into the issue before I got a real incentive to do so. Honestly, I heard a strange noise coming from a pipe but never looked into it.
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Open Book – Half a Year, Half Way There

This is part of our Open Book series, you can start here if you did not read our first post.

We are in June and it is time for our mid-year assessment. We have been tracking our income and spending for years and since we discovered the whole concept of financial independence, we started tracking our savings rate. The amazing thing is; the more we can increase our savings rate, the faster we can claim our financial freedom.
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Live with Less

We live a conscious life.

We consciously choose our purchases, our investments, and our lifestyle.

 

When we face a choice, we try to think of alternatives and try to pick the optimal option that will maximize our happiness while minimizing costs. Using the utilitarianism ethical theory, for example, “Happiness” here is defined as the maximization of pleasure and the minimization of pain.
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How to Choose a Home?

Shopping for a house was a huge consideration for us and it should be one for anyone in the process of moving since it is likely the biggest purchase one will make in his life. Buying too little might not be wise, just like buying too big might not be wise. Depending on your location and plans, renting might be the optimal choice rather than buying and living slightly further from work might be better than living downtown.
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Why Work More?

Whether you want to splurge at that new Tapas bar that just opened down the street or simply invest an extra $100 this week, it is always nice to earn a little extra income without working harder. There is a bunch of tricks to earn a little more without necessarily clocking in more hours at work or grinding away at a side hustle.
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Happy and Saving

When I was a child, my mom always used to tell me to go play outside. I went outside, picked up a stick in the woods, and could play for hours with my friends and our newly found treasure!

Now, as an adult, I notice that having fun has, somehow, become much more expensive. All my friends buy stuff to have fun.
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From $75,000 in Debt to Millionaire

I read a lot of personal finance blogs and publications but one thing strikes me; there are so many writers that are telling their heroic stories about how they got out of debt. Guys like Grayson Bell from Debt Roundup is seen like a superhero when he gets out of $75,000  of consumer debt in 4 years.

I am all for getting out of debt and sites like Grayson’s does help thousands of people get out of the debt trap but there is nothing heroic about getting into debt in the first place.
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One Step Richer

 

Sometimes, I feel poor.

My bank account has a low balance and I use credit cards for all my purchases.

 

This might be the hard reality of many people living paycheck to paycheck. However, I choose to live like this to optimize my savings and live a better, happier, life. 🙂 For example, I do not keep a large balance in my bank account since it pays a whopping 0% in interest.
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Safe Withdrawal Rates and Budgeting

I was reading on Kitces.com and really enjoyed his post on Adjusting Safe Withdrawal Rates To The Retiree’s Time Horizon. Just before we dig into this article, remember that this comes from the assumption that a 4% withdrawal rate per year will not deplete your capital and can sustain you with a very high rate of success (see Trinity Study).
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