Frugaled Out

On my blog I focus on topics such as getting out of debt, investing and staying on a budget. Simply put, my goal is to help you improve, remodel if you will, your financial house. But I know there are many out there just like me who’ve been working hard at this for years on end. After so many years of planning, fine tuning and fiscal discipline, you’ll eventually reach max frugality. Your budget will be frugaled out. Continue reading “Frugaled Out”

Focusing on Major Expenses

Often on this blog I will talk about saving money in everyday expenses. From cutting your cell phone or cable bill to clipping coupons or the virtues of budgeting. All of these topics are important and there’s plenty of material to discuss but the fact is, most of the expenses we will face in our lives will come from only a few categories. They makeup what I call our major expenses and I think too often we ignore them. Ignoring them however could have grave consequences on our ability to save and leave the lasting legacy that we want to leave. Continue reading “Focusing on Major Expenses”

Digit Outrage

This story broke last week and I wasn’t sure how to respond to it. The savings app Digit has decided to charge a $2.99 monthly fee for their service. The service was free so you can imagine there were a lot of upset people. At the end of the day though, Digit is a business. Any business has to find a way to make money. They have to be profitable or the business isn’t sustainable. I understand going from a free app to charging a monthly fee isn’t what people want to hear but it is the reality of life. Continue reading “Digit Outrage”

Retirement Concerns

What are your biggest retirement worries? I thought for many the biggest fear would be never having the ability to retire. Merrill Lynch and Age wave conducted a new study on retirement savings and found that 1/3 of all adults have $0 in retirement savings. None, they haven’t even begun the journey. Another 23% had less than $10,000 saved. No wonder the hope of retirement is a fading dream for many and also why I thought that would be the biggest concern. I was wrong, not being to retire wasn’t the biggest concern. Continue reading “Retirement Concerns”

Oh How it Grows

I’m sure you’ve seen and heard all of the stats about people not saving enough, spending too much and simply put their pile of debt is suffocating them. If you haven’t read about it elsewhere, you can easily read about it on my blog. But instead of focusing on more and more numbers and stats I want to shift focus with this article to encouragement. Four simple words that you might have once believed but you no longer do. You can do this. Continue reading “Oh How it Grows”

Is Your Net Worth Average?

One of my most read and most popular blog posts I’ve written was about the average retirement account size by age group. Instead of just looking at retirement accounts, I want to look at total net worth as well as debt. In 2011 the US Census Department took their latest gauge of Americans net worth as well as their debt levels. Even though the census bureau collected this information right after one of the worst recessions in US history, I still believe the results are worth looking at. Continue reading “Is Your Net Worth Average?”

Change Your Future With a Dollar

I wrote an article in July showing the power of time and compound interest if you would invest your pocket change. Now I want to show you what can happen if you invest your dollar bills. Why? I want everyone reading this to understand something. Yes saving is hard, I realize that. But small amounts of money can add up over time. I don’t what people to think that unless they have thousands of dollars a year to save, they will never reach their goals. Time and compound interest are your friends. The more time you have, the more magical compound interest becomes. Remember, save early, save often, save whatever you can. So lets get to this weeks examples. Continue reading “Change Your Future With a Dollar”

In Defense of an Emergency Fund

I read an article recently on Investopedia that came to the conclusion that emergency funds are a bad idea. This is troubling to me because the one guarantee in life is that nothing is guaranteed. You could loose your job, your house could be damaged from a storm or you might have an unexpected hospitalization. This list could go on and on and on but life is full of the unexpected. Insurance isn’t a perfect safety net nor is it an excuse to forgo emergency savings. Nor is the idea that if I really need the money I could always borrow it. Debt as an emergency fund is the perfect recipe for a disaster. So what is the argument against having an emergency fund? Continue reading “In Defense of an Emergency Fund”

Small Cents BIG Change

One of the things that commonly comes up when discussing saving and investing is the argument that you don’t have any extra money to save in order to invest. I understand completely that we have a lot of demands on our wallets these days but I want to assure you that even small amounts of money can grow into big amounts over time. Would you believe me if I told you that you could leave your loved ones a nice sized inheritance by saving and investing your pocket change? Don’t believe me, well check this out. Continue reading “Small Cents BIG Change”