Ok…so you didn’t pay that much attention in math class. You kept asking “when will I ever use this in the real world?” and nobody gave you an answer. Well, math’s time has come. It is a powerful tool you can wield to benefit your personal finances. In this blog, we will talk about the fractions, percentages, probabilities, and exponents that can free you to do what you love - even if that’s nothing at all. However, my goal is to walk you through it. I will explain the concepts and provide the math you need, all in place.
Recurring expenses are insidious. Companies love signing you up for subscription services as it means a consistent revenue stream by default. The burden is on the consumer to take action, but momentum and inaction usually win out and the payments keep getting made. Taking a hard look at these subscriptions and other recurring payments can be very effective in reducing annual expenses, thereby lowering your Target FI Number and leaving more money for saving and investing . Some expenses that don’t bring enough value can be eliminated. Others can be greatly reduced with a little intentionality (just get a month or two of that streaming service to binge your favorite show, no need to leave it renewing for the whole year!) However, there are some that are necessary but we can work on reducing their impact. One of my favorite hacks is switching to a low-cost cell phone plan offered by a Mobile Virtual Network Operator. MVNOs lease bandwidth on existing cell towers ins