Tag Archive: Saving Money

Never Buy a Small Child New Clothes

Buying new clothes is typically one of the worst money decisions a parent with a small child, under 5 or so, can make. There are two main reasons why new clothes have one of the worst Returns on Investments of all purchases a parent will be tempted to make. UTILITY The first reason is that a small child will get very little use out of whatever clothes they wear. When they are very small, under 1, they will seem to stay in any given size for a matter of weeks and this only improves to a season at best by age 5. So there is a very small window when any given outfit will meet the needs of your child. Given this short window I…
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Financial Independence Debate: Save More or Make More

Today I would like to discuss my personal opinion/strategy on whether focusing on saving money and optimizing lifestyle costs or making more money through active and/or passive income is the better route to achieving Financial Independence. To anyone who is active in the FI community the natural answer is that both sides of the ledger are important. It is impossible to achieve a high savings rate which is the nucleus of any early retirement strategy if you only focus on saving or earning with disregard for the other. While I concede that this widely held belief is true, I do believe that from an effort (time, energy, etc.) standpoint there are optimal and sub optimal approaches. The remainder of this post will discuss my tactics…
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