Archive for January, 2013

3 Money Rules

Jan 30, 2013 Comments Off by

Some money behavior fascinate me such as the person who has $8000 in their savings account but carry a $2000 credit card balance. Give up cable if you have credit card debt Credit card debt is an emergency at 19%+ interest. You should cut back all the luxuries in your life until your credit cards [...]

Frugality, Lifestyle, Savings Read more

Calculating Required Retirement Income

Jan 16, 2013 Comments Off by

Project your retirement expenses based on current or future lifestyle and not on your current income. Most advisers recommend planning a retirement income of 70% of your salary. If one is to live very frugally, then it may be too conservative of a calculation. If you plan to rent or still have a mortgage in [...]

Debt, Frugality, Lifestyle, Retirement, Savings, Strategy Read more

Don’t Pay Later

Jan 10, 2013 2 Comments by

A family member recently advised me that I should buy a washer and dryer on a “Pay Later” plan. She claimed that it would be a very smart thing to do as I can put the equivalent amount of cash, which I have available in the bank, into a savings account or an investment vehicle. [...]

Debt, Frugality, Leverage, Lifestyle, Savings Read more

How To Have A Frugal Wedding

Jan 09, 2013 1 Comment

The average US wedding cost in 2012 was over $27 000. What does $27 000 get you? For most bride and groom, it gets them a stressful day, little face time with their guests, wedding bands and an exotic honeymoon. All this to provide a day that most guests will soon forget about along with [...]

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Retirement Same For Young And Old

Jan 08, 2013 1 Comment

It amazes me the response of peers when I share my story of Mr. Cannes and I retiring within the next 5 years. Many times I don’t get much of a response and assume my peer simply does not believe it can happen. At other times, the response is a question of why I would [...]

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2013 Goals

Jan 02, 2013 Comments Off

Last year was a successful year. Mr Cannes and I have reached financial independence from our rental income. I reduced several recurring payments including lowering vehicle insurance, house insurance and internet service. My rental properties thrived as they have been for the last 4 years While I added 1 more property to my portfolio. Finally, I [...]

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