Normally, the start of the new year is reserved for substantive changes to my financial plan. 2020 is no different. However, as I prepare for 2021, I recently came across a concept that I’ve never fully appreciated until now. That concept is about sinking funds. The use of sinking funds will help me with budgeting… Read More »
I had trouble deciding what to call this post. At first, I was thinking about titles such as “living paycheck to paycheck” or “bad spending habits.” But rather than color my situation with nice language, I’m going to call it for what it is. I’m broke! I don’t have any money and I don’t get… Read More »
So I was deciding for a while what I should call this post. And, I figured I would call it what it is. That is, at least for October 2017, so far, I have too much month at the end of the money. I get paid twice a month, and I won’t get paid for… Read More »
After weeks of waiting and writing about the subject, my bonus finally arrived. This is therefore a follow up post to how to invest $20,000. A few days ago, I logged into my account and saw that I had $15,000 extra. For me, $15,000 is a lot of money. I’m not used to seeing that… Read More »
Thanks to an influx of forgotten cash, I made two important payments today. One of those payment was to one of my student loans. The other was to one of my credit cards. Let’s dive in. Student Loans I have two student loans. However, today, I wrote my past payment of $552.92 to pay off… Read More »
The past few months have been a whirlwind. I’ve experienced numerous setbacks towards my financial goals. It has been said that life is what happens when you make plans. Well, that saying has been true for me recently. I’ve seen my credit card debt rise week by week. My spending has been out of control.… Read More »
I just realize that my budget is out of sync. It’s actually a symptom of me failing to plan accordingly. As some of you my know, I bought my first house last year. Things were looking good and I was excited. I have a three bedroom two bathroom house. Well, because I am single, I… Read More »
Emergency funds are important. Most financial advisers will tell you that before you start to invest, you probably should have about 3-6 months of emergency funds available. Dave Ramsey suggests that before you start to payoff your debts, you should establish $1000 in emergency funds. I generally tend to agree. You don’t really appreciate the value… Read More »
It’s important to stay motivated, whether you are trying to get out of debt, or build wealth. For me, it’s very difficult to stay motivated while trying to get out of debt. Being in debt sometimes feel like a bad habit that’s difficult to break. When you’re trying to break a bad habit, you sometimes… Read More »
There are a lot of gurus out there that teaches you how to invest, how to save, and how to do a budget. Well, obviously I’m not a financial guru. I’m just an average guy trying to make ends meet and achieve my dream of financial freedom. I do want to highlight one adviser whose… Read More »