The 7 Personal Finance Articles We Loved This Week
One of the hardest money truths I’ve had to learn in my few years of ~adulthood~ is that, at some point, you can’t save more money until you make more money. As much as I’ve always felt I’ve had a somewhat creative bent, I was never into the idea of becoming a starving artist. I write now because I’ve figured out a practical way to make it work for me. I’ve personally found that it’s easier to make a living as a creative if I view what I do practically, as a service that I can provide for other people. But living a creative life, to me, always seemed like living a life that didn’t revolve around money — even though the only way to not worry about money is to be completely on top of it.
That’s why I really loved J. Money‘s third pick this week from Half Banked. You may have seen Desirae’s (delightful!) writing here on TFD, and I completely encourage you to look at her own blog for some refreshing real talk about money that is also super relatable and encouraging. The article featured here, “The Real Truth About How I Save Half My Income,” she drops a major truth bomb: it’s a lot easier to save money when you start making more of it. Of course, she knows that’s easier said than done; the point is to come up with a set amount that you’re comfortable spending that’s enough “to have the life you want,” and then do not increase that amount when you start to earn more. Kind of like avoiding lifestyle inflation. By following those rules, hopefully we’d all be able to get to a place where we can increase our savings to 50% of our income.
Be sure to read the rest of Desirae’s post, as well as the rest of this week’s terrific picks!
1. Introducing Retirement Freedom! — Keep Thrifty
“If you never put another penny in your retirement accounts but they’ll still grow big enough for you to retire at age 65, congratulations — you’re retirement free!”
2. A Beautiful Way to Save Money on Cards? — Budgets Are Sexy
“Instead of buying another Hallmark card each holiday, what if I actually gave these hand-made cards BACK to my parents as if I were still that same 10 or 13 year old boy? And pretend no time has passed at all?”
3. The Truth on How I Save 50% of My Income — Half Banked
“It’s not frugality, or that time I tried to make my own coffee using paper towels as filters (lol never do that) or getting rid of everything I love spending money on. It’s definitely income.”
4. How to Hack Your Housing and Live For Free — Coach Carson
“House hacking is one of my favorite ways to get started in real estate investing. It is a method to live for free or almost for free by making a small multi-unit rental property your principal residence. In this way, your tenants basically help pay for your housing expenses.”
5. Do You Find Money Talk Boring? Try This Instead. — Think Save Retire
“Don’t ignore money. Instead, try reframing the topic to something that’s much more interesting to talk about.”
6. 5 and 1/2 Browser Extensions That Save You Money — I Will Teach You To Be Rich
“Before everyone accuses me of being a frugalista who clips out stacks of coupons to save a few cents on toilet paper, know that I do actually think it’s a good idea to save on your purchases — but only if you automate the savings so you’re not wasting time.”
7. Grow The Gap: Guard The Gap — Montana Money Adventures
“Growing the Gap takes hustle and hard work. Guarding the Gap takes emotional strength and vision. But you will never have financial freedom without it.”
Image via Unsplash
