As I have confessed recently, I am not a big fan of budgets. They don’t work for me. I lack discipline, consistence, and get overwhelmed by so many categories and numbers. Nonetheless, I need to keep my finances on track, maintain a healthy level of savings and make sure all bills are covered. So here… Read more
Viewing posts tagged with: savings
It happens to the best!
Good morning! My post for today is the 13 money resolutions for 2013 step 5: review your expenses, that you can read on that link if you haven’t yet. I accidentally hit publish instead of schedule on Sunday and instead of overwhelming people with two posts in their RSS thought I’d own to my mistake… Read more
No income while traveling? No problem! (part 1)
If you are reading this post, it means that I still don’t have an Internet access in Guatemala, but I am certainly working on it! I received a question from a reader last week about how I manage to travel and pay my way around the world, and since several people have asked me in… Read more
My depleted emergency fund
This month, I have a lot of expenses. Because my flat didn’t sell like I expected, I have to pay over $400 a month in condo fees and taxes. This has been the case since March, and I thought it would stop in September. September in France is also taxes time, and I have to… Read more
Step 26: Let compound interest work for you
This post is part of a 30 days series called the 30 steps program to financial independence. You can check the list of other posts here. Have you ever hit the enter button when using the calculator on your computer, so that the multiplication gets executed over and over, reaching huge numbers? Well, that is compound… Read more
Step 22: Now that life is cheap, find out how much your really need
This post is part of a 30 days series called the 30 steps program to financial independence. You can check the list of other posts here. We have talked in the past few days about what financial independence can mean to different people, and what it means to me. It means being able to live a… Read more
Step 8: Automate your finances
This post is part of a 30 days series called the 30 steps program to financial independence. You can check the list of other posts here. Step 8: Automate your finances In order to reach financial independence, you now are aware that you need a considerable amount of savings, as well as a handful of… Read more
Step 4: Grow your income
We talked yesterday about how much you will need to reach financial independence. To me, that was $50,000 to buy a house, $30,000 for a 30 months emergency fund (or living fund while I look for a job if my plans fails!), and a source of passive income generating at least $1,000 per month for… Read more
Step 2: Start Small
Yesterday we saw that saving is the first step towards financial independence. You have to save money, quite a considerable amount of it, in order to be someday financially independent. And just like a diet, you need to start small. You can’t start by saying ”I will save $2,500 every month” if you make $3,000…. Read more
Step 1: Start Saving
Step 1: Start Saving In order to reach financial independence, you need to have a certain amount of money in the bank. Unless you vowed never to use money ever again, like some people chose to, but the most likely is that you will rather need plenty of it. We will see in the… Read more