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Category: Money Saving

Make a few thousand dollars by saving for an emergency fund or moving it around

Make a few thousand dollars by saving for an emergency fund or moving it around

According to Vanguard, 60 percent of Americans don’t have enough saved up to last 3 months. I shudder to think of what the number is when it comes to 6 months. Given that we’re 10 years past the last recession, we’re due for layoffs soon — No, I’m not one of the people who call for a market dip every year, but sometime during your working life, you will most likely be laid off. Plus with all the continued automation and…

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The average American can save $200k in management fees easily

The average American can save $200k in management fees easily

Have you ever looked at the management fees of your investments? For most people who glance at their statement, a fee of 1 percent doesn’t seem like much. It’s only 1 percent right? It’s going to cost you if you want to retire in less than 10 years, or any number of years. Get your financial future set up with these five other easy actions. Take a look at the VTSAX, the Vanguard Total Stock Market Index Fund, which has…

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Senate Tax Bill: How much will FIFO cost you?

Senate Tax Bill: How much will FIFO cost you?

There’s a portion of the new Senate Tax Bill that is terrible for retail investors, that most might not understand. It has to do with accounting methods applied to the selling of financial instruments. To start, cost basis is the purchase price for the security. You need to pay gains on your security when you sell it. If the purchase price for your security is different over time, you should always pick the highest price you paid for a security…

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The Power of Savings

The Power of Savings

One of my favorite books is “The Power of Habit”, by Charles Duhigg. Do you want to make your life easier by practicing good habits, and therefore have extra expendable energy for new pursuits? Practice the power of savings. The Power of Savings When you get up in the morning, bleary-eyed and stumbling towards the bathroom, somehow managing to wash your face, brush your teeth, and shower for the day, how much of that is actual effort? I’d argue almost…

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Citibike Savings Review: Save $1,000, burn 15 pounds, and 112 hours in transport time every year

Citibike Savings Review: Save $1,000, burn 15 pounds, and 112 hours in transport time every year

When I first moved to NYC, I remember being told over and over that it had one of the best subways in the world. It is pretty convenient, but over the years there have a been a bunch of times where the train broke down, or the next train didn’t come for the longest time. Well, a CitiBike is available all the time, and saves considerable time and money. I mostly walked as everything I usually went to was within…

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How a 22 year old can easily save an extra 500k+ with one change.

How a 22 year old can easily save an extra 500k+ with one change.

Have you ever done the math on how much drinking cheaper coffee will save you over the long term? It’s mind boggling. If you are 22, and you drink coffee 7 days a week, it will cost you 583K if you plan to retire at 65.  I like spreadsheets. They provide crystal clear answers. So, I made one on how much coffee costs me. A couple of years ago, I began thinking of financial transactions in my life through monthly cost,…

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Birds of a feather, let’s reach Financial Independence together!

Birds of a feather, let’s reach Financial Independence together!

I remember the first time learning about Financial Independence, Retire Early (FIRE). My SO had just casually dropped that he wanted to retire in 10 years. “Say what?”, I said, as I looked back at him. Turns out he had just convinced his SO to FIRE. FIRE – Financial Independence, Retire Early No one had ever said anything like that to me in my life. Everyone just worked until 65. They worked hard, and they accumulated wealth, but there wasn’t…

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