We also thought it was important to address the first steps to take to reach financial independence… and also acknowledge that not everyone is currently in a position to get to financial freedom. The truth is, ‘just save more’ or ‘be frugal’ are not adequate pieces of advice if you’re in a tough situation. Sometimes, you need to do more than just cut back on consumerism.
It turns out that for the most part, we all like shopping – even when we are buying things we don’t actually need. When we are feeling depressed going to the mall on a spending spree can give you a feeling of relief. Although just temporary, it feels good – so much better than having to deal with our problems all of the time.
When we really got serious was when we had our first child, and we didn’t have enough money to fix our car that had broke down on the side of the road. And we had a thousand dollars worth of repairs, which—in the grand scheme of life—is not earth-shattering, but because we did not have it and we had an infant to cart around, we were really concerned. And so what does a person do when they can’t fix their car but they need a vehicle to get to work?
Don’t let boredom become an excuse to break your budget. Fun doesn’t have to come with a price tag or at the expense of your long-term financial goals.
It’s the small, intentional choices that really do make all the difference. As I’ve highlighted throughout this post, these seemingly marginal cost-saving techniques can help to save you thousands of dollars every year.
Living richly is about recognizing those things that make your life beautiful and happy, then figuring out how to do those things with the budget and time you’ve got.
If you’re ruling your own kingdom and try to apply another king’s methods to your kingdom, it’s not going to work because your kingdom is different. Your kingdom is your finances.
The average American household spends $600 per month on food, and it’s the third-largest budget category for most people. While everyone has to eat, …
Here’s something I’ve learned over the past fifteen years: One way to practice financial prudence while living the good life is to buy quality products, products that are a pleasure to use, products that will last a lifetime (or at least a decade).
Total cost of the truck: $14,250, not including the ticket I received while driving it.
I’m taking steps today that will let me retire on my own terms, including avoiding these six mistakes that will prevent you from retiring early.
When making financial decisions you probably weigh the impact to your wallet, but do you ever question the impact on your emotional wellbeing?
Practicing self-reflection and self-awareness are key ways we grow as people, how we acknowledge our strengths and weaknesses, how we change our habits, and it’s essential for anyone who is trying to live intentionally.
Feeling shame can affect the way we live our lives, and especially how we spend our money.
Looking at the math, he’s absolutely right — my response to spending impulses (hobbies, clothing, electronics…) determines whether I spend my life doggy paddling and gasping for air or become an olympic swimmer.
The mundane choices we make every day reverberate years into the future.