Skip to main content

Thrifty Thursday

Introducing Thrifty Thursday. On Thursdays, I’ll post a quick article with a tip or life hack to help with Intentional Spending. These will fall into three basic categories:
  • Freebies are life hacks to get something for nothing! Maybe there’s no free lunch, but there are plenty of things you have already paid for in one way or another and just need to take advantage of, or that are being offered in hope of future business.
  • Cost Cutters are the things we all need, that you are probably already buying in some form, but cheaper!
  • Worth It are things that might not look like savings up front, but could be worthwhile investments, eventually leading to more savings. They may also be actual splurges, but with a good value and totally worth it!
Check out the articles so far:

Comments

Popular posts from this blog

Thrifty Thursday - Save Thousands on Your Phone Plan

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

Stocks: How to Pay Someone Else to Work for You

 When you work for a company, you work to build someone else’s wealth.  When you own a company, other people work to build your wealth. Fortunately, you don’t have to be Bill Gates or Elon Musk to own a profitable company.   Instead, as we touched on briefly in the article on assets vs. liabilities , you can buy stock in the company.   Buying a share of stock mean you actually own a small piece of a company. One of the most efficient ways to own stocks is by purchasing low-cost index funds.   These funds can either be in the form of mutual funds or Exchange Traded Funds (ETFs).   The key difference to a traditional actively managed fund is that the index fund simply tracks the relevant market.   For example, an S&P 500 index fund would hold shares of the largest 500 U.S. companies In the S&P 500’s case, the largest 500 with some consistent caveats: at least 10% must be publicly available for trade

Calculating your Portfolio Target with the 4% Rule

You are saving money and learning about the difference between assets and liabilities . As you invest your savings into assets, the real magic begins. Your investments start to grow, whether it be from appreciation, cash flow, dividends, or all of the above. Then the growth starts to growth. Then the growth on the growth on the growth starts to grow. It’s a runaway chain reaction, but it does take time. This is the magic of compounding returns and leads to exponential growth of your wealth, the namesake of this blog. However, the opposite effect is just as powerful. Anyone who has ever been in credit card debt with interest rates over 20%, or even worse situations with payday or title loans, understands how hard you have to swim against the current just to stay still. The interest keeps racking up and many people never escape the debt. If this describes your situation, check out Dave Ramsey’s Total Money Makeover for steps to dig yourself out of debt before you start b