What a fabulous weeks it’s been! Today’s feature image is from my week long vacation spent in upstate NY – specifically the beautiful fields at Farm Sanctuary. (This month’s charitable organization of choice!) We’ve visited many times for day trips, but this year we opted to stay on site for a few days/nights. Totally relaxing, and totally enjoyable.
Unfortunately that means I likely missed out on all the amazing content being shared this week! (Which means y’all should send me links in the comments or message me on Twitter!) Luckily, I’ve got such a backlog in my inbox that I may never catch up!
Nothing this week – on vacation! (This post was written entirely the weekend before our week of fun – so hopefully the world didn’t collapse!)
Our lead off today is Chief Mom Officer! This past week she put out a post, Teaching Kids about Money: Savings Bond Edition, about bringing her kids to the brick-and-mortar bank, and giving them a little money lesson. This really hit home because when I was growing up, my mom was a bank teller. I have many memories inside the bank and I was so happy to read about others creating similar memories.
First up, an informative and must-read post over at the Millennial Money Diaries by Jing. Read on to find out the difference between “compound interest” and “compounding.” It may not affect your daily life, but it it’s always cool to know the details regarding your money and technical jargon. Check out her post here: PSA Investments Don’t Earn Compound Interest.
And now apparently WordPress is creating these pretty slick looking embed-able blog post cards. These were all auto-generated, just FYI. Pretty cool, but lose a bit of my control to lay everything out all nice like. And if the post doesn’t have a feature image (or fails to load) it leaves a nice blank space. So I hope they all work for you as they show up for me!
Let’s start off this second half with a post about goals, and how well these PF bloggers are crushing them. I absolutely agree with Vincent over at Finance For Geek that having goals gives you a better chance of success. And by all accounts Vinny here is a busy bee, and a highly successful bee. Also, good job taking that six-month paternity leave!
Planning ahead in life is important, though not an easy task. Penny at She Picks Up Pennies put together this nice compilation post about ways to get your preparations in order. So if you want to get prepped for your financial future (and whatever it might entail!) I recommend a run through of her post (and all the sources within).
Did you just get a raise, a promotion or happen to squeeze some money out of your budget? Well, 80/20 Your Finances posted some excellent ideas to avoid losing that new found money to expenses via lifestyle inflation. My two favorite tips are to calculate how much that new found money actually is (pre-tax versus post-tax), and making that raise work for you by investing into your retirement. Good stuff – go read it!
Jane over at Cash Fasting posted this trio of tips to help you keep your spending low – with the basic idea of “tricking yourself into believing you are poor.” My favorite trick in here is reducing the paycheck before it even hits your accounts via some of those key FIRE accounts like an HSA, 401k or automated deposit to an IRA. Check the rest of the tips and comments below.
Amazing things can happen when you work and say yes to the opportunity! Take a look at this post over at We’re All Poor Here, titled … I Quit my Job! Pretty inspirational story to work hard, find those opportunities, work ’em hard and make big changes in your life. It’s not easy to make moves like this, so great job Matt!
Solid information in this article over at My Strategic Dollar to consider before diving into a student loan refinance. This guest post by Drew at Student Loan Report shares all the scenarios you need to consider before signing up for a debt refinance. When I refinanced, I got a low rate and instead of using my new cash flow for investing (the smart math move) decided to get rid of them once and for all. Reference this article if you are considering a refinance of your student loan debt.
Like the everyone else, I love Mr. and Ms. ONL and their great blog. Apparently, I missed their post about writing “your Financial Independence Mission Statement.” Well Mrs. Adventure Rich took on the task and wrote a killer piece. I recommend reading it (and the ONL post) to get inspired TODAY. I know I plan on sitting down and hashing out my FI Mission Statement ASAP!
That’s all for this week!
Look out for my July Expense Report coming Wednesday!