When I was in debt, part of my plan was to learn about the next step while I was working on my debt goal. Beyond the knowledge, learning helped me stay motivated and keep my eye on the prize, rather than lament about how much my situation sucked. It also helped me feel in control. There was only so much I could do about my situation, but I did have control over two things: how Read more…
You may think you need unlimited, and for some people, the extra expense and waste is a worthwhile trade-off. That said, what the major carriers don’t want you to know, is that the more you know about your phone, the more control you take back. We’re fans of and advocates for people taking control. While some may think you have to shut off mobile data entirely and therefore severely hamstring your mobile experience, it’s not Read more…
Though I don’t fixate on our appearances or how dapperly we’re dressed, it does pay dividends for us to keep our clothes in decent condition. Not needing to replace our wardrobes annually–or even every five years–is liberating from the perspective of reducing our dependence upon consumption and also, quite obviously, an excellent frugal hack. In much the same vein as we continue to drive our 19-year-old car, use our 10-year-old popcorn popper, and enjoy our used furniture, wearing Read more…
8. Eliminate/cut back on social media and/or TV. Our minds are greatly influenced by what we see on TV and on social media. Plus, it can be a huge waste of time. Instead of turning on the TV or looking at social media the next time you are bored, you may want to try to do something more worthwhile such as working out, spending time with friends and family, reading a book, and so on. Read more…
Such a life is not just the quaint habit of a few lucky rich people in a friendly, safe neighborhood. It is the foundation of human civilization itself. We are meant to live in medium-sized groups, to walk between each other’s dwellings, and to collaborate and play freely with an abundance of unscheduled free time. When you start with these basic building blocks of a community, you automatically press your happiness buttons and suddenly start Read more…
3. PURGE RECURRING EXPENSES If you’re paying for subscriptions to magazines you never read or pay more for your cable bill than you do for car insurance, it’s time to purge your recurring expenses. Spend about an hour reviewing recent expenses, keeping an eye out for monthly charges like cable bills and subscription fees as well as services you could do yourself, like housecleaning. Look for services you don’t use much or could live without Read more…
We buy a new shirt or dress… and immediately begin looking for new shoes to match. We bring home a new couch… and suddenly the end tables in our living room appear old and shabby, in need of replacement. We purchase a new car… and soon begin spending money on car washes, more expensive gasoline, or a parking pass. We move into a new home… and use the occasion to replace our existing bedroom set Read more…
Apparently Healthy but Deconditioned Individuals So what happens to the body when physical activity comes to a grinding halt? People, be they elite athletes or regular gym-goers, get injured, take extended fitness breaks, or simply lose interest. Exercise physiologists refer to such people as “apparently healthy but deconditioned individuals,” and the effects of detraining are profound, to say the least—but it largely depends on the person’s initial fitness level. As Pino explained to me: “The Read more…
We’ve pointed out before that you shouldn’t use your day job as an excuse to not pursue your passion. Some people may argue you should quit so you have no choice but to succeed at your dream. While that sounds good in theory, it’s not practical, and, as Koppelman points out, it can actually be counterproductive. On the other hand, just an hour a day can force you to stay laser focused on that project Read more…
Mutual fund types Initially, mutual funds only invested in equities (stocks). Because the bond market is roughly twice the size of the stock market, it didn’t take long for mutual funds to start investing in bonds too. As time passed, the number of funds increased as they began to specialize in certain types of investments: foreign-country bonds, high-tech stocks, high-yield (junk) bonds, and so forth. There are tens of thousands of securities (stocks, bonds, etc.) Read more…