Budgeting & Savings

Embrace Living Paycheck-To-Paycheck To One Day Be Free

Living paycheck-to-paycheck is an unpleasant financial experience. Not only does it mean needing to spend everything you have to make ends meet, it may also create an ongoing feeling of despair. You might even have to get into debt to pay your bills. And if you aren’t careful with debt usage, it may become a […]

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Being Overly Frugal Can Be Terrible For Your Health And Happiness

While I consider myself frugal, there are instances where saving money isn’t worth the additional time investment. Let me share a story illustrating how excessive frugality cost me my health, productivity, and happiness. Recently, we decided to attend Monster Jam for the first time, an event featuring monster trucks racing and performing stunts. Getting there

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How Couples Can Adopt The Same Financial Goals And Win

In 2024, I am transitioning from a spender to a saver mindset. I am returning to frugal habits reminiscent of my lifestyle in the first thirteen years after college. This change is prompted by the need to rebuild liquidity. One area I’m targeting to cut expenses is food. After a three-month experiment involving increased spending

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10 Helpful Financial Moves To Make Every Year

The end of the year is always the best time to reflect and plan. I’d like to share several financial moves you should make before the new year in order to protect your wealth and hopefully grow your wealth in a risk-adjusted manner next year. Those of us who invested in stocks, real estate, and many

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Spending More Money On Food: An Experiment In Decumulation

Once I hit 45 in mid-2022, I decided to enter a decumulation phase. Instead of continuing to save and invest aggressively, I decided to spend more aggressively. One way to decumulate is to spend more money on food. Dying with an excess of money is suboptimal. If we do, it will have meant that we

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Bank Loyalty Has Long-Term Benefits But Short-Term Costs

Just like job loyalty, bank loyalty often doesn’t pay. I made the mistake of being a loyal employee for eleven years at my previous firm. If I had job-hopped, I probably could have made $1 million more in my career. During my capital raising process to buy a home with all cash, I’ve had to

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Before Having Kids, Consider Spending Lots Of Money

Most responsible adults who want children will strive to save and invest as much money as possible before becoming parents. However, after being a parent for six years, I realize this advice might not be ideal for living your best life. Everybody knows raising children is expensive, especially if you live in a major city.

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The Ideal Number Of Banking Relationships To Feel Safe And Secure

After the collapse of SVB and Signature Bank, I decided to review our existing banking relationships and see if we are well positioned to weather another potential bank run. I also wanted to share with you the ideal number of banking relationships to have to feel safe and sound. When I first started Financial Samurai

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How To Prepare For Another Bank Run As The Contagion Spreads

Sadly, Silicon Valley Bank (SVB, $SIVB), the 16th largest bank in America at the end of 2022, experienced a bank run. Now the contagion has spread to other regional banks such as First Republic Bank, Signature Bank, Zions Bancorp, PacWest, Comerica, and Charles Schwab. Even the largest banks were getting hit as well. Ultimately, The

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Minimalism And Early Retirement Go Perfectly Together

Minimalism and early retirement go together like peanut butter and jelly. Each item compliments the other. Minimalism helps get you to early retirement sooner because you are lowering your cost structure. Early retirement makes you want to simplify life so you can remain retired and enjoy your time more efficiently. Since 2012, I’ve worked on

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