Month: May 2014

Ten Pieces of Inspiration #62

Each week, I highlight ten things each week that inspired me to greater financial, personal, and professional success. Hopefully, they will inspire you as well. 1. Walter Elliott on perseverance The hardest challenges in life seem like incredibly long slogs through difficult terrain. However, almost all things can be conquered if you focus on nothing …

If You Have an Unexpected Windfall, Put It in a CD (61/365)

When I wrote 365 Ways to Live Cheap in 2007, a person could easily find a bank CD that offered a 6% return. All you had to do was lock up your money at the bank for a year or so and they’d give you back six cents on every dollar. That’s a pretty good …

Categories: Frugality

Rules Versus Facts

Personal finance articles often state “rules” of various kinds for people to follow when it comes to their money… You should be saving 10% (or 15%) of your pay for retirement. Don’t buy a home unless you have a 20% down payment. Don’t sell when the market is going down, and don’t buy when the …

Categories: Getting Started

Automatically Build an Emergency Fund (60/365)

Whenever I’m asked for a single piece of financial advice for someone, I usually offer up “spend less than you earn.” When they inevitably ask me for something more specific, I tell them “start an emergency fund and stick with it.” An emergency fund is one of the best financial tools a person can have. …

Categories: Frugality

Reader Mailbag: Personal Projects Undone

Reader Mailbag: Personal Projects Undone What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to five word summaries. Click on the number to jump straight down to the question. 1. Is more retirement savings necessary? 2. Netflix streaming series 3. Imminent financial disaster 4. Loan debt and house purchase 5. Paper …

Categories: Books and Reading