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Eight Ways to Earn Extra Income

photo credit: Irene2005Often much attention is given to the topic of saving money. What can be just as, if not more, important is earning more money. While living below your means is good, it’s definitely easier when you have more means to work with. So to that end, here are eight [...]

Benchmarks for Borrowing

photo credit: »Philo
Consumer Reports published an article on the eight benchmarks of borrowing.  I must say that I don’t agree with all of their benchmarks.  For example, they state that non-mortgage debt (i.e. auto loans, credit cards, etc.) shouldn’t be more than 20% of your gross income.  If a person has a gross income [...]

Meeting with a Financial Advisor

Yesterday, a friend and coworker sent me an e-mail saying he won a free lunch for ten people and would I like to come.  I don’t turn down free food so I said sure.  Today he e-mailed me to confirm as well as tell me the ‘catch’.  In exchange for the free lunch, we had to give [...]

Don’t Turn INexpensive Fun into Expensive Fun

Most personal finance blogs advise people to find less expensive options for having fun, i.e. go camping instead of taking a full-fledged (and expensive vacation).  While this is good advice, it can be very easy to turn what should be an inexpensive trip into a not-so-inexpensive-anymore trip.
I’ll give you an example from my own life.  [...]

What’s Your Type?

I recently read The Number by Lee Eisenberg.  In it, he defines four different types when it comes to retirement planning - the procrastinator, the plucker, the plotter and the prober.  (Click here for definitions.)
Personally, I think I fall somewhere between plotter and prober.  I’m definitely a number-cruncher.  I get a great deal of enjoyment [...]

Lifestyle Creep

Over the past few months, I’ve noticed that I’ve started succumbing to what some call ‘lifestyle creep’.  My finances are on auto-pilot and doing well so I’ve stopped paying attention.  I don’t always take the time to search for a frugal solution and I’ve started spending money on things I previously haven’t.
As of late, I’ve [...]

Evaluating the Wisdom of a Purchase

 photo credit: Kecko
A few weeks ago, Mr. Savvy and I decided that relying on the kindness of friends was getting old when it came to transporting/hauling stuff.  So this past weekend, we bought a pickup truck (no, that’s not our truck).  Now, one could argue that it would have been cheaper to simply rent a truck for [...]

Handling Unexpected Expenses

photo credit: Orin Optiglot
It’s been my experience that very few expenses are truly unexpected. Therefore it makes sense to plan ahead so that you don’t find yourself scrambling to pay bills. I like the technique a lot of people call a “freedom account” or “freedom funds”. If you look at your spending for the [...]

What’s on My Financial Plate

Well, not much is going on with me financially right now. My finances are pretty much on auto-pilot but I’m always trying to find new ways to maintain the same standard of living while spending less and saving more. For example, I subscribe (free with FF miles of course) to Allure magazine. [...]

The Fifth and Final Step to Financial Success

If you haven’t read the previous posts in this series, here they are.
 
Step 1
Step 2
Step 3
Step 4
 
Now that you’ve compiled a list of strategies, you need to choose which ones to implement. Pull out your list of strategies. Next to each one, list the benefits of selecting that strategy. Also note what [...]