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I knew we lived simply, but how in the heck do we survive on just 1/3 of our income with my wife being a stay-at-home mom?
Do I earn a six-figure salary at my day job?
Well then we must be living in an RV in my parents’ driveway, right?
Ummm, not even close.
How We Survive (and Thrive) on Just One Income
Liz and I live in a 3 bedroom, 1.5 bath home in a fantastic area of town. We go out to eat almost every weekend and give 10% of our income away to our favorite charities. For the most part we’re pretty normal, so how is it that we only need 33% of our one income to survive?
. . . → Read More: How We Survive (and Thrive) on Just One Income (and How You Can Too!!)
You’ve probably seen all the overly-appealing ads at this point, either through Facebook or on TV. Fundrise is a company that invests in real estate projects and earns interest on their loans to developers – often at a rate of 10%-12%.
Here’s where the message gets good for regular schmoes like you and me…
Do you know where Fundrise gets their money from for their investment projects? From the general public who wishes to invest as little as $1,000 in the project. Essentially, Fundrise is a mutual fund company for real estate ventures and cuts out a bunch of middle men in the process.
Sounds pretty good right?
At first glance, yes….but should you invest in Fundrise?
Your Investment in Fundrise
There are loads of personal finance bloggers that absolutely love Fundrise. In my opinion though, it’s only because they’ve got a carrot dangling in front of their face — . . . → Read More: What Is Fundrise? And Should You Invest Your Money Here?
Purchasing one’s own house is big stride into a life of freedom and self-actualization. In some cases, you will need to save for quite a long period of time before you can afford to buy a decent house for yourself and your family if you have one. In most cases however, you will need to get a mortgage loan that you will repay for quite a long period of time before you can finally claim full ownership of your new home.
With the monthly mortgage repayments already inflating your monthly expenses, it is therefore prudent to take measures to ensure you reduce any other costs related to your new home.
Managing your repairs and maintenance prudently
Your new home will always look superb with beautiful furnishings and decorations all over. However, over time, the home will be subjected to wear and tear due to natural aging processes as well . . . → Read More: How to Save Cash as a New Homeowner
“Well, that’s a relief,” I told my husband. “With that kind of raise, we should be totally fine!”
Looking back on that conversation is kind of like watching a horror movie. You’re looking on yelling, “No! Don’t open that door!” Meanwhile the oblivious buffoon on the screen flings the door open to their inevitable demise.
Yeah, I would say I was a bit of an oblivious buffoon at the time. What I should have realized is that we had been given an opportunity to knock out our debt. In reality, I didn’t even know for sure how much we owed the credit card companies, because I was afraid of what the calculator would tell me.
So I happily ignored the cards, assuming that paying what I could here and there would make them disappear eventually. After all, we’d struggled to make ends meet for a long time. We deserved . . . → Read More: How to Get Motivated to Dig Out of Debt
The goal of this site is to prompt you to be weird beyond belief. And by that I mean wealthy. The average American is broke. Actually, the average American is worse than broke, they’re $100,000 in debt. According to Nerdwallet, debt is on the rise again:
The average credit card debt is $6,184. On top of this, add car loans, student loans, and mortgage debt to the mix and the average debt load in America is $99,835.73.
For some of you, this might actually seem low. Your mortgage debt alone probably totals more than $100,000. And if that’s the case, you’re worse than the average.
The Average Road
At one point in my life, I was $18,000 in student loan debt, a few thousand bucks in credit card debt, and I had a mortgage of $70,000. I was pretty much average according to the charts above.
Some of you . . . → Read More: The Average Debt Load in America is $100,000 – How Do You Compare?
When it comes to home improvement – even do-it-yourself home improvements – the first word that comes to mind is “expensive.” However, it doesn’t have to be that way. There are home improvement projects that you can do for almost nothing. Here are the top five cheap DIY projects that you can do to make your home look incredible.
5 Cheap DIY Projects to Improve Your Home
The following is a guest post by Vera – a blogger trying to lead a frugal (but not frustrating) lifestyle. She is also an avid food enthusiast who loves everything about cooking and modern appliances that make the job easy. You can find her at Frugal Frogs. Enjoy!
Project One: Painting
The average-sized three bedrooms, two bath home will require a maximum of 20 gallons of paint to cover. It could even be less, which is why you should buy paint one room . . . → Read More: 5 Cheap DIY Projects to Make Your Home Look Incredible
When I first started learning about managing money, I was an emotional mess. I’d just graduated from college, had gone six months without a job and saw no real recourse for getting my finances in order.
The good news is I used this as motivation to start teaching myself about personal finance. The way I saw it, I didn’t have a choice but to get it together in the managing money department.
I’ve now been on this journey for almost seven years, and what I’ve learned is this: The key to managing money is to keep your emotions out of it. Here are some of the tools and practices I use in order to keep my emotions in check when I’m managing money.
This post was written by Amanda Abella, a fantastic writer and speaker of personal finance.
I don’t check my investments everyday.
The stock market is a prime . . . → Read More: Two Ways to Keep Your Emotions in Check While Managing Money
The odds of winning the Powerball are 1 in 292 million. That means that if you bought 10 tickets every single week, it would still take you 562,000 years to win the jackpot. Did you catch that? 562…thousand…years.
Let’s face it…it’s just not going to happen.
People are aware of the odds, and they know that they probably won’t win in a million years (funny, this phrase can finally be used literally!), so why do they still play? What makes them think that this is a good idea for them? And what might be a better alternative?
Getting Rich With the Lottery – It’s Just Not Happening
According to the recent Wired magazine article, “The Psychology of Lotteries“, people buy lottery tickets for two main reasons:
It gives them a cheap high – and a chance at becoming a millionaire They lost all hope of becoming rich any other . . . → Read More: Getting Rich with the Lottery – It’s Just Not Happening
I was 19 years old bowling with friends when one of them asked, “How much money would it take for you to walk up to a complete stranger and stick your tongue in their ear?” (FYI…this is the G rated version of the actual question…but there’s no need to go into the embarrassing details of my childhood, right…?). It was definitely a strange question, but I had no idea how profound it really was until many years later…
The Unbelievable Power of Belief
To me, the question wasn’t so much about “How gross would it be?” or “How much trouble could this get me into?”. Since I wouldn’t want to stick my tongue in someone else’s ear in a million years, I thought about the question like this, “How much money do I think I can earn in my lifetime?”…because that’s what it was going to take for me to . . . → Read More: The Unbelievable Power of Belief
This inspiring post was written by Jamie Jeffers, one of our very talented staff writers! Enjoy!
The day my husband and I sat down to form our goals for the next year or two ended much differently than I could have expected. You see, we have this meeting every year in early January, and I was excited to talk about the things we could accomplish this year.
My husband had a pretty good job and was starting to make a little more money. That seemed like the perfect opportunity to do some of the things we’ve always wanted to do.
There was just one problem. A bigger problem than I even realized at the time. It’s called debt.
We both knew we were in debt. In fact, “pay off debt” had made our goals list every year for several years in a row. The funny thing is that it never . . . → Read More: The #Hashtag That Inspired Us to Pay Down Thousands in Debt