Category: Personal Finance (Page 1 of 6)

What's Stopping You From Cutting That Budget Line Item?

What’s Stopping You From Cutting That Budget Line Item?

I am a big fan of making sure I get value from my money. Each month as I look over the month’s spending, I look at where I can improve and where I can optimize and where I’m happy with my spend. Each budget line item should have a purpose. So often, we get stuck with ones that don’t, so why do we avoid cutting them?

Things Change, So Should Your Spending

We used to cloth diaper, but with health problems after Lui’s birth, we stopped. Paying for diapers was worth the expense.

This week, we returned from a 2-week vacation to visit the kids’ cousins in Nebraska and Texas and I realized diapers are no longer worth the line item on our budget. Lui’s 3 now and is ready.

Change is Hard

I’m not one of those moms that mourns the fact my son will (hopefully) soon be out of diapers. So why have I waited? Because potty training is THE WORST. I’ve told you my thoughts on parenthood, but if you hear someone talking about how much they love potty training, THEY LIE (or they should start a business and I will throw them my money).

In reality, Lui is still in diapers because it’s easier… for me. That’s so true for all budget optimizations. There are things that we keep paying for because they are easier and changing would require a period of discomfort.

Time to Get Uncomfortable!

It’s time to look at your budget and figure out what you’re ignoring because you don’t want to deal with it. Maybe you don’t know how to cut your cable bill (we have a step-by-step guide!), you don’t want to face that gym that still charges you monthly even though you never go, or you still buy lunch at work because you haven’t wanted to deal with figuring out what you would enjoy eating (we eat turkey pesto sandwiches, if you needed an idea).

I’m spending this week in the bathroom with lot of apple juice, Netflix, and a pantsless toddler attempting to clear “diapers” off my budget (accepting all positive vibes)! Whatever you’re avoiding can’t be as bad as that… so get to it!

This week, figure out what you’re avoiding and get it done. Next Month’s budget will thank you.

Comparison is the Thief of Joy and Productivity

Comparison is the Thief of Joy and Productivity

Teddy Roosevelt is famous for saying: “Comparison is the Thief of Joy.” I took the liberty of adding “… and productivity.” When we compare ourselves to others, we lose sight of what we’re busy accomplishing.

Lin-Manuel Miranda is Better Than You

Last week, a Facebook friend of mine posted:

Lin-Manuel Miranda and my alumni magazine make me feel like I’ve done nothing with my life.

I totally agreed. A few days later, I happened across this article (headline is NOT changed): Lin-Manuel Miranda even sings karaoke better than you do.* Of course he does!

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Tracking Your Finances and Celebrating Wins!

Tracking Your Finances and Celebrating Wins!

If you’ve been around Northern Expenditure awhile, you’re probably aware that I like to celebrate. (If you follow me on Twitter, you’re aware I celebrate with dancing gifs!) If you don’t track, you can’t celebrate!

Tracking Your Finances:

It’s a new year (yay for new!) and it’s time to start tracking your finances FOR REAL this year. Here’s what you need:

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It's Time to Face Your Financial Reality

It’s Time to Face Your Financial Reality

Last week, in celebration of Halloween, I shared a tweetstorm of the scariest things you could say to a Personal Finance Geek. Maybe you read that and felt bad about yourself because you have done some of those things (or still do). DON’T. I shared the original tweets. What I did not share were all of the conversations that followed. SEVERAL of these tweets inspired responses from other personal finance bloggers that said things like “Me 2 years ago,” “…said my husband,” “been there!” or “still paying off that debt!”

We are not better than you. And you are not worse.

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Scariest thing to say to a personal finance geek

Scariest Things to Say to a Personal Finance Geek

In the spirit of this spooky Halloween holiday, I made a list of the scariest things you could say to a personal finance geek. Then I opened it up on Twitter:

The response was overwhelming. I immediately threw out my own list since all of them were covered. So, turn on the creepy Halloween music and prepare yourself for a Twitter storm of the scariest things you could say to a personal finance geek (ordered by category).

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If I had and how to spend my life insurance

If I had… & How to Spend My Life Insurance

Periodically, I like to run through what I would do with a windfall. Tomorrow is PFD Day and we’ll be receiving $5,110 overnight. In celebration, here’s what I would currently do:

If I Had $5,000

(Or $5,110) in this scenario. In case you forgot, we tithe 10% of all increase. So, our PFD amount left after that is $4,599. With this money, we will be putting $1,600 extra toward our mortgage (on top of the extra $1500 we’ve been putting toward it the past few months) bringing our mortgage balance under $60,000 (I’m already looking forward to the October Plan Update!). The other $3,000 will go toward my Roth IRA which I hope to max out with the other $2,500 by the end of the year.

If I Had $10,000

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Saving a Million Dollars is Easy!

Saving a Million Dollars is Easy!

How Easy is it to Save a Million Dollars?

Do you know what my favorite posts to read are? The ones about how saving a million dollars is totally easy! And guess what? There are THOUSANDS of articles about how easy it is to become a millionaire! I decided to aggregate a few of my favorites to drive the point home. Saving a million dollars over a long period of time is actually very simple!

How Much to Save Each Day to Become a Millionaire

Interest rates matter quite a bit when it comes to saving money. This Business Insider chart gives you a daily savings need based on 3 different return rates to save $1,000,000 by 65!

Saving $1000000

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Process is part of the product

The Process is PART of the Product

There is a constant battle between the process and the product in early retirement talk. Mr. T and I lean toward a calmer, more comfortable process leading to a delayed product of early retirement. Others choose to give up a lot more than we do in the process for a sooner product.

Balance is important. If you ruin your health, happiness, or relationships along the way, you’ll find yourself retired early and alone and sick. But you are the only one that can determine what that balance looks like for you.

It’s important to take another factor into consideration as well: Pride – The good kind. The kind where you roll up your sleeves, grab a cup of lemonade and just sit and stare thinking nothing but “I did that!” It’s a great feeling, right?

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Don't make dumb money mistakes

Don’t Make Dumb Money Mistakes!

When I was little, I remember being at my cousins’ house and we were having some sort of pinching fight(?) and laughing and crying and screaming. My aunt came in and yelled: “Don’t do dumb things!” and we all laughed and laughed. But the message stuck and I hear that in my mind so much that I’ve yelled it to my own children a number of times!

So what got me riled this time? The Ryan Lochte situation. I won’t go into it as I’m sick of hearing about it (though I do have to say my favorite headline has been the “Lochte Mess Monster” and his apology for his “immature tantics” made me laugh). The lesson for kids: Even if you’re hanging out with the dumb people, you’re still doing dumb things and may find yourself with your passport confiscated or with a fine for $11,000. Don’t do dumb things.

This statement applies to so many situations!

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July 2016 Plan update

July 2016 Plan Update

July has come and gone so fast. We spent the beginning of the month at the Oregon coast with my whole extended family. Then we came home to Alaska and went dipnetting the next week and filled our freezer full of a year’s worth of salmon. Alaska is seriously so amazing. We’ve also been enjoying bowls full of fresh raspberries from our garden.

This month on the blog, we covered how to save money* in both London and the UK in general. We also came clean about being early retirement frauds and I took Mr. T’s company’s retirement newsletter to task for being terrible. We had THREE people take the Roth IRA Challenge this month in awesome posts. First Ditching the Grind talked about being a U.S. military reservist. Then Amber Tree Leaves discussed property management. And finally, The Money Mine offered a great post about couple finances. Are YOU ready to take the challenge?

We’ve also completely changed our email newsletter. I now email once a week on Saturdays and while the email does include links to the posts on the blog from the week, it also includes information I don’t share on the blog and other interesting links of research and random tidbits of information I read that don’t “fit” in the blog format. If you want to give it a try. SIGN UP over on the sidebar! (I don’t plan to annoy you with sign-up pop-ups.)

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