A few posts back, we learned how lifestyle inflation can be toxic. In case you’re wondering, there IS a time and place to inflate your lifestyle. However, you can’t just do it whenever you want. You have to EARN it. Here’s how it works. The Basics If your goal is financial independence, I recommend that you live […]
The Goal is to Buy Nothing
This time of year, we are bombarded by “Black Friday” sales and “massive markdowns.” Everybody loves a good deal, right? Well, that depends. If you are able to get 50% off an item that you truly need and were already going to buy, then that is a good deal. If you purchase an item for […]
Beware The Toxic Effects of Lifestyle Inflation
At some point in our lives, most of us have learned to live on very little. For example, if you’ve ever been a college student, you’ve mastered the art of living in the same house with a dozen other people, finding free meals, and using public transportation. Back in the early 2000’s, when I was […]
Build Your Own Garage Gym and Ditch the Monthly Membership Fees
To accelerate your push to financial freedom, I recommend that you keep your fixed monthly costs as low as possible. Along with monthly cell phone bills, a gym membership is one of those pesky monthly fees that is challenging to reduce or eliminate. There are several reasons why a gym membership may make sense in your budget. For example, if you enjoy […]
A Simple, Practical Approach to Budgeting
Learning to budget is scary. After all, it means you have to say NO to unnecessary purchases and keep your eye on long-term goals at the expense of short-term pleasure. There are a variety of ways to budget, ranging from the restrictive and somewhat impractical “envelope system” to the more vague and potentially ineffective “wing […]
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