The personal finance community loves talking about FIRE – financial Independence (FI) and early retirement (RE). Conventional wisdom is that you can achieve FI with savings and investments worth 25-30 times what you spend each year. For example, a married couple who spends $40,000 per year can thus achieve financial independence with $1M –
The personal finance community in the United States often talks about frugality. It’s true that being frugal and consistently saving money over years is the simplest and most straight-forward path to wealth. But, everything is relative. The things we consider frugal in the U.S.
I remember having a conversation when I was about 25 with my best friend at the time, Brian. I told Brian that I didn’t want to be burdened by a bunch of possessions. My ideal was to be able to fit everything I own into the back of a pickup truck,
If you have a somewhat-above-average professional salary, saving at least half of your income is totally doable. I’ve been doing it for many years, even while I was the sole wage earner for a family of four living in high-cost California.
Given the number of self-help books, motivational speakers, and online forums dedicated to discipline, I think it’s safe to say that lots of people realize they need discipline, and many struggle to obtain it. Discipline is one of the two primary keys to wealth.
Looking for another way to stick it to the Man? Here’s one of the quickest and easiest do-it-yourself cleaning recipes: DIY laundry detergent. I love this one because it is so easy. It only takes a few minutes,
I generally recommend that frugal shoppers should avoid Costco, because Costco is exceptionally good at making people part with their hard-earned cash. But, there are exceptions to every rule. There are a few things you can do to hack Costco without a membership.
Everyone loves electricity, but most people hate to pay for it. Despite this fact, few people take the easy steps necessary to reduce their electric bill. I’m a frugal guy, and my electric bill has always been among the lowest in my neighborhood.
For the last year or two, I’ve made all of my own yogurt at home, saving about $200 per year. As someone who also makes his own beer, bread, and pizza, I have to say that making yogurt if FAR SIMPLER to do than any of these.
If you want financial freedom, you need to have a good grip on your monthly expenses. A lot of folks think they can control their food budget simply by shopping at the place with the best prices. That often means Costco or other warehouse clubs.
Will Cutting Out Your Daily Latte Really Get You To Retirement?
You’ve probably read some personal finance articles that say you need to save more money. They often suggest cutting out those expensive daily lattes as a remedy. A lot of folks don’t think that’s a very serious proposal.
I was one of the first buyers of a Nissan Leaf Electric Vehicle when mass production first began in 2011. I’ve owned the car now for over five years. As a frugal dude, I look back on my purchase as generally a poor financial decision…