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Blogger Profile


The Finance Doc

Blog Info

Name:
Accelerate Savings
Category:
General Finance
Tags:
savings, practical, finance, advice, investing, money
Start Year:
2017

Blogger Bio

Net worth:
Location:
Maryland, United States
Age:
30s
Race:
Unspecified
Gender:
Male
Life stage:
SINK (Single Income, No Kids)
Profession:
Engineer

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Latest Blog Posts

Despite being an avid saver since my 20s, I have never been curious enough to determine my net worth. In hindsight, this was likely due to me knowing in the back of my mind that my net worth number was far away from my financial independence number. However, as I have become more analytical in other aspects of my life, I have found truth in the proverb, “What gets measured, ...
Posted: Jul 18 2017 @ 10:47 PM
This post is a part of weekly assorted practical personal finance posts shared by others in the previous week. Last week’s links can be accessed here. If you have a quality post you would like considered for the following week, please submit it here. 1. How to save in a global destination like New York City as described by the Luxe Strategist (excellent overview). 2. Money Ning details the experience of buying ...
Posted: Jul 16 2017 @ 7:22 PM
Managing your savings is equally as important as accumulating them in the first place. If a deliberate savings structure is not in place, excess cash and saved funds can be easily mishandled, converted into unnecessary expenditures or handed over to financial institutions in the form of obscure fees (e.g., one of the worst offenders, Bank of America earns $1MM in fee revenue per branch annually). These savings drains are undesirable, ...
Posted: Jul 16 2017 @ 12:12 PM
Food expenses are typically our third largest expenditure (after housing and transportation), with 10 – 15% of our spending going towards food consumption. Unlike with the other two major expenses, one can implement changes immediately to increase cash flow, completely avoid up-front costs, and have savings (accelerate) or build upon themselves, since the expenses are recurring like one’s cell phone service. The objective is not to skimp on one’s diet ...
Posted: Jul 12 2017 @ 9:25 AM
Few these days get by without a cellphone and the monthly expense associated with a cell phone plan is ripe for savings since recurring expenses can really add up. Consider unlimited data plans for one line with either AT&T ($60 + $6/mo incl. taxes/fees) or Verizon ($80 + $8/mo), which works out to $800 – 1,100 in annual spending or $1,150 – 1,600 in pre-tax personal income to maintain. Unless ...
Posted: Jul 10 2017 @ 7:02 AM
1. Raise cash by getting rid of old or non-functioning electronics.   2. With recent Fed rate increases, it’s time to re-evaluate your liquid savings account.   3. Free things to do on a vacation. I would add getting a guide book at the library and following a suggested walking tour.   4. SavingAdvice readers offer some suggestions to save money.   5. Follow-up to earlier credit card post, TheSimpleDollar provides links to a few promotional 0% APR, ...
Posted: Jul 09 2017 @ 9:42 AM
1. Raise cash by getting rid of old or non-functioning electronics.   2. With recent Fed rate increases, it’s time to re-evaluate your liquid savings account.   3. Free things to do on a vacation. I would add getting a guide book at the library and following a suggested walking tour.   4. SavingAdvice readers offer some suggestions to save money.   5. Follow-up to earlier credit card post, TheSimpleDollar provides links to a few promotional 0% APR, ...
Posted: Jul 09 2017 @ 9:42 AM
1. Raise cash by getting rid of old or non-functioning electronics.   2. With recent Fed rate increases, it’s time to re-evaluate your liquid savings account.   3. Free things to do on a vacation. I would add getting a guide book at the library and following a suggested walking tour.   4. SavingAdvice readers offer some suggestions to save money.   5. Follow-up to earlier credit card post, TheSimpleDollar provides links to a few promotional 0% APR, ...
Posted: Jul 09 2017 @ 9:42 AM
One of the easiest ways to get the most bang for your buck on all of your spending is by signing up for the best passive credit cards. What this means is using your debit card for ATM withdrawals only, limiting cash transactions altogether, and not using Apple Pay. Instead, sign up for one or two all-purpose credit cards and charge everything that doesn’t require an additional credit card processing ...
Posted: Jul 08 2017 @ 11:05 PM
Before diving into specific topics, I’d like to preface the readers with my background and motivation. I have always been fascinated with efficiency and optimization problems in general. One of the first concepts in math I absorbed was not to solve any particular problem through rote behavior (for instance, adding up numbers 1 to 100 methodically) but rather to channel Carl Gauss and always seek out solutions in as few ...
Posted: Jul 08 2017 @ 12:43 PM

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