During the pandemic, we learned that Americans can save a lot more money if we want to. Take a look at the historical American personal saving rate chart according to the U.S. Bureau of Economic Analysis and the St. Louis Fed. After lockdowns began on March 18, 2020, the U.S. personal saving rate skyrocketed from […]
Americans Can Save A Lot Of Money If We Want To, Don’t Worry! Read More »
Some people who critique my various budget charts are annoyed I list retirement contributions and investments as expenses. Therefore, I thought I’d explain my logic in this post. Once you start treating your retirement contributions and investments as expenses, you will begin to build much more wealth than the average person. And once you build
Treat All Investments As Expenses If You Want To Grow Richer Read More »
Recently, I was told by a producer of a certain podcast that I was being overly frugal. This comment came after an interview covering my upcoming book, Buy This, Not That was done. I had thanked her over e-mail, pointed out a spelling error in my name in the show notes, and also asked her
Being Called Overly Frugal Or Cheap Means You’re On The Right Track Read More »
A forced savings account will help make you rich over time. It forces you to save versus relying on your own discipline to save. A mortgage is exactly this, a forced savings account where the homeowner pays down principal each month and builds equity. One of the main reasons why the average net worth of
Mortgage As A Forced Savings Account To Build Wealth Read More »
One of the reasons why I continue to save so much is that I’m a perpetual failure. I’ve made so many mistakes in my life that I need a financial buffer to constantly bail me out. A landmine-filled upbringing has also embedded in me the necessity to save. If it’s not an investment mistake, it’s
Perpetual Failure: The Reason Why I Continue To Save So Much Read More »
Practicing Stealth Wealth is the act of keeping your overall wealth a secret. It helps with keeping haters at bay and your family safe. For your well-being, it’s much better to blend in with the majority than stick out when it comes to your finances. When it comes to money, people have all sorts of
Keep Your Donations A Secret: Giving Time And Money Is Personal Read More »
Making sure lifestyle inflation never gets ahead of our income and wealth inflation is a core fundamental in personal finance. Ideally, we want to widen that gap between income and expenses so that we can one day live free. However, what if you are already living free? Or what if your investment returns are so
Can Your Lifestyle Inflation Keep Up With Investment Inflation? Read More »
The Met Gala is an annual fundraiser for the benefit of the Metropolitan Museum of Art’s Costume Institute of New York City. If you want to attend, a ticket costs $35,000 and a table costs between $200,000 – $300,000. However, even if you have the money, you might not be able to go. Anna Wintour,
How Rich Do You Have To Be To Attend The Met Gala? Read More »
As a lifelong saver, it has been hard for me to spend more money and live it up. It didn’t matter whether I got a raise or made a profitable investment, the extra money would almost always get reinvested. The Boot is a concept I came up with to help us spend money more freely.
The Boot: A Smart Solution To Spending More Money Guilt-Free Read More »
If there is one time to have money and spend money, it’s during and after a pandemic or similar hardship. Money should help make difficult times more bearable. If you can’t afford to spend extra money during a time of distress, then you can always revenge spend once it’s over. When I first came up
Revenge Spend Time! Spending Money To Get Back At Life Read More »
