Credit card companies are in the money making business.
I know, that might be shocking.
“But what about all the travel miles and cash-back rewards?”
All those perks are just a way to trick you into spending more money! Mwuahahaha!
Not only do credit card companies make money, the make LOADS of money. $163 billion annually, to be exact, and mostly from poor suckers who don’t realize the true cost of carrying a balance ...
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Tracking spending is a good way to stay on track for FI and make sure nothing gets out of control. It’s a way to evaluate your decisions and make adjustments for the next month, as necessary. I like to ask myself each month:
“Did this purchase bring me enough happiness to justify the amount I spent?”
“Can I do something differently to save more money?”
“Are my savings ...
On the first day of class in high school, my 9th grade English teacher placed an interesting combination of items on a table at the front of the classroom:
A bowl filled with aquarium pebbles,
A few ping pong balls, and
An empty glass vase.
She went on to explain that the pebbles and ping pong balls each represented something different. The pebbles represented the things that we wanted to do with our time, like hanging ...
You don’t have to spend money to spend time. Although not turning to your wallet for a single day might not seem like much of a challenge, we often find ourselves spending more money than we intend to, without even realizing it. On those days away from the office, we spend cash on everything from gas for your car, to lunch, coffee, and more.
If you’re looking for a way to ...
Investing is one of the most productive ways to build wealth, simply because your money works for you.
Every dollar you put into a total stock market index fund immediately starts multiplying at a rate of 7% per year. That means that at the end of the year, you have $1.07. But why stop there? That extra 7¢ (which was completely free, by the way) turns around and starts making you ...
Today’s short post is simply a poem: If… by Rudyard Kipling.
This poem sits framed on my desk at work. It was given to me by someone I respect upon receiving the rank of Eagle Scout. I find it encouraging – it paints a wonderful vision of what I aim to be in life: virtuous, determined, fair, kind, loving.
How does this apply to FIRE? Well, I think it just applies to life. ...
Welcome to the Trail to FI Money Map! A few bloggers out there have taken the time to share how their finances are set up, so I thought I would join in on the fun.
This is an interesting idea because we focus on net worth quite frequently, and for good reason. The size of your investments can be a great indicator for when you can retire. The problem with focusing ...
Not too long ago, I owned a truck.
There aren’t many people in the FIRE community who own trucks, but I know there are quite a few converts. Today, I publicly announce the addition of my name to those gas guzzling, city-dwelling, former truck drivers.
How I got a truck
My previous vehicle.Story time! The year was 2007. Fifteen year-old me was a sophomore in high school, only concerned about good grades, getting ...
The IRS has a secret.
There is a retirement account that is even more tax efficient than an IRA.
What?! Why don’t I know about it?
Well, that’s the thing. You probably already do. This account is often overlooked because it is not advertised as actually being a retirement account. The IRS says it is meant to be used for something else entirely: medical expenses.
The Health Savings Account (HSA)
The HSA is primarily meant to be ...
I migrated Trail to FI from WordPress to Bluehost yesterday, and I just want to make sure things are working properly.
Sorry for the inconvenience! Thanks for your patience.
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Posted: Sep 03 2017 @ 11:59 AM
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