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Spring seems like it’s finally arriving in the Midwest. I’m probably speaking too soon though. Right now there isn’t any snow on the ground, but it could be a fool’s spring. The fact that I can finally see grass has still made me start thinking about and making summer plans. Last year I think we overdid it—we went on a trip back to the East Coast, attended multiple concerts including the Eras tour, and had family come visit. Honestly just thinking about all that activity makes me tired! Especially with my family member being sick and having lots of extra work coming in. I’m so busy I’ve actually had to turn away work, which rarely happens and is a great “problem” to have. This year I want to have a slower and cheaper summer, which will be easier on our wallet and more aligned with our financial goals. Here’s what we have in mind so far. Free Camping Gear  I think I’ve mentioned that we want to try camping and spending more time in nature, which will help support my mindfulness goals. After my partner’s mom heard about our plans, she really kindly gave us her REI rewards points so we could get some camping gear. We’re all set up with a tent and camping stove thanks to her generosity. I’m looking forward to going on at least one camping excursion this year. I don’t think we’ll go too far from home since there’s a lot of great nature around us. We’re planning to stay at rustic campgrounds to save money and get a nature-oriented experience. Some of the premium campgrounds in our area have wild amenities like mini golf courses and convenience stores. Although I’ve never been camping before, I think that would feel more like vacationing at a resort than camping! That isn’t the vibe I’m going for. I want the true s’mores around the campfire, roughing it in the woods experience I never had as a kid! Attending a Family Wedding Another event we have planned for summer is an upcoming family wedding. It’s happening at the beginning of June out on the East Coast, which will be quite a drive. But luckily we can stay with family, so gas should be the main cost. Usually we don’t travel out of our way to go to weddings. But my partner hasn’t seen this side of the family in person in years and I’ve never even met them, so we really wanted to attend. These two trips are all the excitement and activity I think I can handle this summer! The rest of the time I want to relax on my porch and soak up the sun with some iced tea and a book. Let me know if you have any plans you’re looking forward to. I’m interested to hear how you all save on summer fun. By the way, thank you for the kind comments on my last post! I wish I had time to respond to

Legendary investor Warren Buffett is one of the wealthiest people in the world and for a time was the wealthiest. It might surprise you, then, … Read More 6 Frugal Habits of Warren Buffet

Welcome to Rich Frugal Life’s February 2024 financial results! Before we get into the numbers, here’s what we were up to last month.   Happy Arizona Spring! February started off with unusually cold and rainy weather, causing us to hide out indoors and miss out on the Phoenix Open (because who wants to watch golf… The post Buying Back our Time and February 2024 Financial Results appeared first on Rich Frugal Life.

Counterfeit foods are a real thing, a growing concern, and many unsuspecting consumers inadvertently purchase them. The global food industry uses psychological warfare, deceptive practices, and dazzling marketing techniques to sell fake foods, also known as counterfeit foods. Wasabi is extremely rare but is easily found in gas station sushi meals. Have you ever wondered […] The post You Buy Counterfeit Foods All the Time: 8 Fake Foods You Love To Eat appeared first on […]

If you’re like many people, you may not always have adequate funds to make a purchase. This could cause you to either use a credit card and risk ensuing debt or delay the purchase until you have the necessary cash. However, a financial tool with growing popularity eliminates that problem. Buy now, pay later (BNPL) apps allow consumers to buy something online even if they don’t have the cash they need. Our guide shares why you […]

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This is my 15th yearly retirement budget first quarter test since I retired young at age of 51. When I mentioned retirement budget challenges with every new year’s first quarter to a yet to retire pal, they had no idea what I was talking about. With that in mind I thought I’d elaborate in case … Continue reading Passing Another Yearly Retirement Budget First Quarter Test → The post Passing Another Yearly Retirement Budget First […]

Effective financial planning becomes more crucial than ever during times of economic uncertainty. A recession can bring various challenges, including job losses, decreased income, and financial instability. However, with careful planning and strategic management, individuals can navigate these turbulent waters and emerge with their financial well-being intact. In this article, we’ll explore the significance of effective planning in managing money during a recession. Understanding the Importance of Planning Recession can be a troublesome period. The […]

Last Updated on March 27, 2024 by Chris Panteli Loud Budgeting “Loud budgeting” is among the latest viral finance trends on TikTok, aimed at helping users become more vocal about their saving goals. A recent Empower survey found over 60% of people in the U.S. are still not discussing money with their family and friends despite believing “open conversations about money are the key to financial freedom.” “Money has often been a topic people shy […]

Purchasing your first car is a significant milestone, marking a new chapter of freedom and independence. As you prepare to hit the road in your shiny new (or new-to-you) vehicle, it’s crucial to understand the importance of securing the right insurance coverage. While navigating the world of auto insurance may seem daunting, knowing the essential insurance essentials can help you make informed decisions and protect yourself financially. Here are seven insurance essentials that every first-time […]

Stop. I know you read this title and attempted to turn and flee back out the door. I anticipated this and caught you by the back of your shirt. We need to talk about this now. If you’re reading this blog, you’re likely Millennial or Gen Z. They’re the largest pie slice of animal lovers—one in three owns a pet. And our attitudes about pets are really intense. Half of us describe loving them more than our own mothers. And all of those pets are doing the absolute worst thing any pet can do: getting old without us. You likely won’t have experience with being solely, directly responsible for managing a living being’s decline and death. So we’re going to explain what’s gonna happen, and give you our very best insights. I promise to make this discussion as brief, honest, and detached as possible. We’ve written maudlin tear-jerkers about pets before, and I swear this won’t be one of those. But this is a subject that’s sadly present for both of us right now. Life’s given us lemons recently; this guide will be the lemonade. We want to give some guidance to the people who will one day face the same challenge, so they can feel prepared. All of this advice comes straight from our hearts. At the end, there’s a handy checklist for your convenience. If you do everything on it, you’ll be as ready as you can be for the end of your pet’s life. Many of them are actions you can start taking long before your pet gets grey around the muzzle, so don’t put off reading it. Who can I trust to help me make this decision? A good vet is worth their weigh in gold. And the more time they have to get to know your pet, the more accurate their instinct will be. Continuity of care is a great asset. The vet who met your cat when she was a friendly, healthy 8-year-old can more accurately spot subtle changes that might indicate renal disease when she’s 12. And when that cat hits 16, you’ll know they have her best interests at heart if they advise you to consider end-of-life planning. Long time readers know I love adopting senior animals. The only drawback to that calling is you’ve gotta learn to say goodbye often. I’ve been present for the deaths of 11 animals. In time, I’ve come to value two traits very highly in a vet: clear communication and good listening. I’m pretty steadfastly committed to “quality over quantity.” My vet hears and understands that, and guides me towards options that fit the goal of optimal comfort, even at the expense of longevity. Now, veterinarians are people. They’re not all the same. They have different strengths, professional perspectives, and emotional availability. I’ve had the experience of surrendering a pet for euthanasia into the hands of some random person I didn’t know because the situation didn’t offer me a choice. It’s horrible.

Just Keep Buying: Proven Ways to Save Money and Build your Wealth is a book written by blogger Nick Maggiuli. You may know him as the writer behind Of Dollars and Data. He started the blog in 2017 and then went on to write Just … Read moreJust Keep Buying Book Review The post Just Keep Buying Book Review appeared first on Genymoney.ca.

Buying a home is often considered the biggest financial decision people make in their lives. As a result, it makes sense as to ask yourself whether buying is the right choice when compared with renting. Unfortunately, this decision can easily get bogged down with the many assumptions and costs that go into renting vs. buying a home. This post aims to fix this by simplifying the decision process to focus on the few key variables that will make a difference in the long run. By the end of this article, you’ll have a clearer understanding of which factors to consider when answering the question, “Should you rent or buy a house?” And, in doing so, you will be better equipped to make an informed choice for your future housing needs. With that being said, let’s look how to model the buy vs. rent decision in a simpler way. Simplifying the Renting vs. Buying Decision When it comes to renting vs. buying a home, I want you to think about each of these decisions as leading to some future bag of money. When it comes to renting, that bag of money is just the money you save by renting (instead of buying) invested into a diversified portfolio over time. For example, if the rent for a house is $4,000 a month and buying the same house would cost $7,000 a month with your mortgage, property taxes, maintenance, and insurance, then you will be initially saving about $3,000 a month that you can invest into a diversified portfolio. Of course, the monthly savings will change over time (based on inflation), but this is a simple way to think about it. When it comes to buying a house, the only thing you should care about is the future value of your home. So if you buy a house for $1M today, the question is what will it be in 30 years (once the mortgage is paid off)? We only care about the home price because this is the only thing that leads to a direct pay off for the homeowner. In other words, we should imagine that all of the costs associated with buying a home aren’t seen as actual costs to the homeowner, but, rather, as benefits to the equivalent renter (who avoided these costs by renting instead of buying).  If we look at the problem in this way, the renting vs. buying decision is a dollar-for-dollar equivalent of all cashflows across the life of the mortgage. For example, if maintenance costs increase in year 10, we will assume the homeowner just pays them and the renter sees a benefit by avoiding those costs. However, on the flip side, if inflation surges and rent prices go up, then the renter has to pay these higher rents, which lowers the attractiveness of renting compared to buying, all else equal. Now that we have a basic idea for how to compare renting vs. buying, let’s look at the factors important to each: Renting

Landing your first real job and bringing in a steady paycheck each month is an exciting time. However, if you’re like most people, that’s shortly followed by a myriad of expenses. It’s difficult to keep track of all your bills and expenses — and if you over-spend, you could have trouble paying back that student loan or saving for emergencies. The best way to handle your money is by making a reasonable budget. With that […]