A Personal Finance and Money Saving Blog in Alaska

Today, while we’re flying back from the UK/Paris, I would like to introduce you to my friends over at Ditching the Daily Grind. They are lucky enough to be able to MOVE to the UK next month! (I’m thoroughly jealous, obviously!) We’re delaying our June plan update to next week, so stay tuned for all those travel costs we’ve incurred! But for now, we get an awesome spin on the Roth IRA Challenge all about U.S. Reserve Military Service. Mr. DTG gives a thorough, fascinating look at the possibilities. After you read his post, go read their blog and wish them safe travels on the new adventure!

I’m not the type of person to live with regrets, but one thing I wish we’d done earlier is open Roth IRAs and fully max them out. Until a few years ago, we were intimidated by the stock market and our only real investments were our Thrift Savings Plan (TSP) accounts, the U.S. federal government’s version of a 401(k). I can’t help but think of the tens of thousands of dollars in potential investment gains we left on the table.

Scheduled Unproductivity

By MaggieBanks

On June 29, 2016

In Goodness

I’ve often heard the sentiment: “How do you do it all? You have three kids, a blog, and you work part-time from home.” My initial response is: “If I give off the impression that I’ve totally got it all figured out, I must be really good at lying!” Next, I say, “my secret to success is television!”

No, wait! Come back! I’ll explain better…

Everyone wants to be more productive (including me!). I’ve read all sorts of things that can help productivity, and some of them work for me:

Northern Expenditure Turns 1!

By MaggieBanks

On June 27, 2016

In About the Banks

The first year of any life simultaneously speeds by and seems like forever. When I think back on where we were a year ago, it seems so distant. But every week on the blog has been such a joy, it’s gone by in a flash.

This blog was born out of a malaise with the norm. Ironically, though our situation hasn’t changed much, the blog has helped us find more joy in the current situation. Why? Because we’re doing something about it while also realizing even more that living in the present is important.

Northern Expressions: Be a Columbus

By MaggieBanks

On June 24, 2016

In Northern Expressions

Today, as Mr. T and I are driving North to Edinburgh, I wanted to share a travel-related Northern Expression. Ultimately, we are capable of thinking amazing things and those thoughts can turn into future realities. Too often, we put limits on our possibilities. We decide we cannot open “new channels” because we are stuck. Thoughts are never stuck. And those thoughts can explore you right out of tight places. I’m hoping to expand my own possibilities this year and need to take the time to give “thought” the time it deserves in that plan.

Have a lovely weekend, friends.

Love, Maggie

Save Money on Your Legal Will

By MaggieBanks

On June 22, 2016

In Personal Finance

Mr. T and I finished the whole estate-planning process just before leaving on our grand adventure (follow us on Twitter for trip updates!). On Monday, we outlined considerations for making a will. Today we’re going to talk about how to save money on making one. This is expensive stuff we’re talking about! And today we’re going to cover how to save money on a legal will. I’m not an attorney, so obviously don’t take this as legal advice. This is just my observations based on my experiences and research on the matter. Mr. T and I used a lawyer to draft up our legal wills, powers of attorney, and advanced health directives (a total of 6 documents). The legal fees? $1,895! Yikes! That’s more than it cost for all of our plane tickets for the trip we’re on! Here are 5 ways to do it for less:

Decisions to Make Before Drafting a Will

By MaggieBanks

On June 20, 2016

In The Ride

Our three-week trip away from our children forced Mr. T and I to finally kick into gear and make a legal will (you know, because planes falling out of the sky are actually a thing these days!). We always knew we needed one, but it seemed so daunting! Well, guys, we did it. It is done. And now I’m here to help you through doing the same thing. Obviously, I’m no lawyer or financial advisor, so don’t go around thinking this is legal or financial advice. I’m just here to help you with the first step: thinking through most of the things you’ll need to consider before drafting your own will.

Two months ago, Mr. T and I said: “We leave in a month. We need a basic will, an advanced health directive, and a legal power of attorney. Where do we start?” This, my friends, is the list of where you should start. Today, we will take you through the large list of decisions that need to be made before you’re even ready to start the documents! Ready? Here we go:

Funding Your Roth IRA Without a Side Hustle

By MaggieBanks

On June 17, 2016

In Roth IRA Challenge

I love today’s contribution to the Roth IRA Challenge. Des over at Half Banked is awesome at talking about financial basics and helping you apply the principles to your own situation. Today is a perfect example of that! The Roth IRA Challenge is all about figuring out how to earn and/or raise $5500 and make sure it goes towards the goals you want. After you learn loads and get excited to read more and do more, go check out her blog. Also, in my defense, the following conversation never happened, but I’ll let Des take it from here…

Maggie: Des, you should participate in the Roth IRA Challenge!

Des: Are you sure?! I’m not really a side-hustler – unless my ~~sad~~ fledgling Etsy store counts?

Maggie: Well, how much have you made from it?

Des: *checks total* Tens of dollars!

Maggie: …

A proficient side-hustler, I am not.

Europe for $10/Day (in 1977): Part 2

By MaggieBanks

On June 15, 2016

In Goodness

You guys, isn’t my mom the coolest? If you missed Part One of her adventures, check those out. The story continues today right where we left off on Monday:

MUSIC AND MORE

It can be expensive attending concerts and visiting museums and art galleries, but isn’t that what Europe and England are all about? I had a long list of classical essentials, but our first cultural experience was a foray into The Sound of Music. The first day in the gorgeous city of Salzburg, we walked down to the old part of the city and looked for a tram to take us to the majestic castle on the hill. We kept walking up – up this path and finally figured we were walking up to the castle without paying to ride the tram. The castle gave us a beautiful view of Salzburg
so we walked around the courtyard.

Europe for $10/Day (in 1977): Part 1

By MaggieBanks

On June 13, 2016

In Goodness

I’m super excited today to introduce my very own mother! As Mr. T and I were planning our travels, my mom found her journal from her backpacking trip through Europe in 1977 and starting telling me crazy stories. I told her she just had to write some up! So today, while Mr. T and I are off doing our own (less crazy) traveling and while my mother is busy chasing my three children around the Oregon Coast, enjoy reading her perspective about what inexpensive travel was like without the variety of travel resources we have today!

I grew up in a tiny town on the coast – nice enough, but rainy and windy in the winter and drizzly and windy in the summer. For some reason, no one ever seemed to want to leave this place; not in my family anyway. I wanted to go to Europe. That meant two things to me: The Eiffel Tower in Paris of which I owned a poster. It was the first thing I put on the wall in my Freshman dorm room at the state college. The other thing it meant was Dickens and Austen, Thackeray and Eliot. I was crazy about 19th century English literature and I wanted to be in those bucolic places described in those novels. Of course, in Dickens case, it was squalid more than bucolic, but that meant London and as I became a teenager, I was very keen to be in
London. Who wasn’t in the 1970’s?

Northern Expressions: Advice is NOT Permission

By MaggieBanks

On June 10, 2016

In Northern Expressions

Happy Friday! Today, Mr. T and I are in London. Tomorrow, we get to see the new play, Harry Potter and the Cursed Child (I’m really, really excited!). Also tomorrow, we get to witness the grand parade that is the Trooping of the Colour (in honor of the Queen’s 90th this year!). I hope your summer is going well. Today’s quote from Chris Guillebeau is one of my favorites from the $100 Startup. It’s so inspiring! If you want to do it, DO IT! Follow your dream. Make it happen. Tell the naysayers to get lost and go and live your dream! Have a great weekend, friends!

Love, Maggie