The Latest

How to Use the “Snowflake” Strategy for Debt Repayment

When you’re facing a giant mountain of debt, it feels almost impossible to overcome it. When your total debt exceeds your household income, it can feel like debt is just going to be a part of your life. It can seem as though, in order to live your life, you’re going to have to constantly …

How to Switch to Paying Cash for Your Car

In 2003, I purchased a 1997 Ford F-150 pickup. Given the financial disaster that my life was at the tiem, I “paid” for it entirely with a loan, which saddled me with car payments for the next three-plus years. In 2010, the Ford F-150 needed to be replaced, so we bought a 2004 Honda Pilot. …

Triggering the Spark of Financial Independence and Frugality

Kayla writes in: I’ve never really understood how you could suddenly make the switch from way overspending to actually living on just one of your two incomes and saving half of your income. How does that even happen? As I thought about Kayla’s question, I started writing a list of things that I felt played …

Questions about Old Stamps, Yoga, Hospital Bills, Chess, and More!

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. Hospital bills and 529 plans 2. Planning with constant challenges 3. Using old baseball cards 4. Frugal yoga tip 5. Baking bread at home 6. Frugality …

Categories: Books and Reading

Books with Impact: Early Retirement Extreme

The “Books with Impact” series takes a deeper look at specific books that have had a profound impact on my financial, professional, and personal growth by extracting specific points of advice from those books and looking at how I’ve applied them in my life with successful results. The previous entry in this series covered How …

Categories: Books and Reading

Living Lean Without Being an Outcast

It’s not exactly a secret that the “spend less than you earn” strategy is a little different than how the average American lives their lives. As I’ve quoted many times on The Simple Dollar, 76% of Americans live paycheck to paycheck. Simply by adopting a “spend less than you earn” mindset and sticking with it …

Categories: Getting Started

Self-Reliance, Part Three

Six weeks ago, I shared with you the first third of my favorite essay of all time, Self-Reliance by Ralph Waldo Emerson, and three weeks ago, I walked through the middle third of that essay. Self-Reliance has profoundly affected my life in countless ways, and I find myself re-reading it every month or two. Each …

Eight Strategies for Buying Clothes Without Destroying Your Budget

At our house, I’m the lucky one. I work from home so it doesn’t really matter too much what I wear most days, so I dress for comfort. Almost every day, you’ll find me in blue jeans and a t-shirt. I have some nicer clothes for social occasions and presentations, but those mostly just stay …

How to Become Your Own Life Coach with Fourteen Simple Strategies

Over the last few weeks, several readers have written to me asking about the value of hiring a life coach. Usually, these people are struggling with a major life decision or finding it hard to break free of a steady grind that they wish to escape. Life coaches can be incredibly useful if you find …

Categories: Getting Started

Questions About Goodwill, Emergency Funds, Library Openings, Cheese, and More!

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. Roth IRA withdrawal question 2. Buy it for life: Goodwill 3. Year away from down payment 4. Retirement and disability 5. Having “a life”? 6. Making …

Categories: Uncategorized