Morning!!

Got a great guest post for ya today, coming from Rockstar Finanace alum, Steve Adcock :) Man I miss that site sometimes… And I just learned that Apex Money just recently said farewell as well So it’s ripe for another one to come into the space if anyone’s ever thought about making one! I’d be happy to brain dump on you if you are ;)

Enjoy this article on Steve’s 6 financial rules he lives by every day… #6 is my favorite.

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My wife and I became millionaires in our 30s, and no, we didn’t inherit a pile of cash, win the lottery, or sell a startup for millions.

We became millionaires the boring, old-fashioned way.

Today, I’m sharing the six simple money rules I live by every single day. These rules are what made us millionaires. And most importantly, why we still are.

They are not fancy. They are not trendy. They just work.

#1. Keep 6 Months of Expenses in Cash

This is the rule that lets me sleep at night. Life is unpredictable. Jobs disappear (especially these days). Cars break down. Kids get sick. Water heaters explode at the worst possible moment. When you have six months of expenses sitting in cash, none of that becomes a crisis.

If you don’t have money set aside for an unexpected expense, build your emergency fund starting today. Your future self will thank you.

When I say an emergency fund, I’m not talking about six months of your income. I mean, six months of what it actually costs you to live. Rent, groceries, insurance, gas, the basics. When you have that cushion, you stop living in fear of the next surprise. You stop making decisions from panic. You stop feeling like one bad week could ruin everything.

We keep our rainy day fund in a HYSA (high yield savings account), so it’s easily accessible, accrues interest, and isn’t subject to the stock market’s ups and downs.

Cash is boring, but boring is underrated.

#2. Invest at Least 20% of Your Income

This is the engine that builds wealth. If you want your future to look different from your present, you need money growing in the background. Not someday. Not when you “feel ready.”

Right now.

The nice thing is that investing doesn’t need to be complicated. My wife and I invest primarily in index funds, which are diversified portfolios of shares in some of the best companies around the world. No listening in on earnings calls. No worrying about price-to-earnings ratios.

No finance degree required. Index funds make investing easy. (J$: This is what I do too )

Twenty percent might sound like a lot, but it becomes normal once you automate it. Treat it like a bill. The money leaves your account before you have a chance to spend it, and over time, it starts to stack up in a way that feels almost unfair.

The market does the heavy lifting. You just have to show up consistently.

#3. Never Carry a Credit Card Balance

We love credit cards. The points and travel rewards are wonderful. In fact, I’m flying first class to Scotland later this year from the points we earned using our cards.

Of course, credit cards do have a dark side.

Credit card debt is the villain in most people’s financial story. It sneaks in quietly and then refuses to leave. One month you’re a little short, so you carry a balance. The next month, the interest hits, and suddenly you’re paying for last month’s groceries at a premium.

Avoiding credit card interest by paying off your balance every month is our primary focus.

I use credit cards for the points and the convenience, but I treat them like debit cards. If I don’t have the money in my checking account, I don’t buy the thing. Simple. Clean. No drama.

Carrying a balance is like paying a cover charge to enter your own financial downfall.

Not interested.

#4. Drive Your Cars Into the Ground

I am not trying to win the neighborhood car show. I want a vehicle that starts when I turn the key and doesn’t drain my bank account. That’s it.

Note: This is in stark contrast to the supercharged Corvette I used to drive when I was younger. It was a fun car, but boy, it turned into a giant money pit. It seemed like every other month, I was dropping $2,000 or more to fix something that had broken.

I no longer drive my wealth today. I drive reliable used vehicles.

New cars lose value the moment you drive them off the lot. It’s like watching your money evaporate in real time. I’d rather drive something a little older and put the savings toward investments or experiences that actually matter.

Today, we drive a hybrid to save money on gas, and we plan to drive it until it falls apart (not literally, but you know what I mean!).

#5. Don’t Try to Keep Up with Your Neighbors

Your neighbors might look successful, but you have no idea what their finances look like behind the scenes. The shiny new kitchen might be sitting on a mountain of debt. The fancy vacation might be financed by a credit card that will haunt them for years.

My favorite book, The Millionaire Next Door, discussed this phenomenon extensively. Rich people don’t necessarily look rich. In fact, that’s how many of them became rich!

Trying to keep up with other people is a guaranteed way to lose control of your own goals. I focus on my savings rate, my investments, and my peace of mind. If someone down the street buys a new boat, I’m happy for them. I also know I don’t need a boat to feel good about my life.

Comparison is a thief. I don’t let it in the house.

#6. Use Your Legs More Than Your Wallet

This one is part money rule and part life philosophy. We live in a world where everything can be delivered, outsourced, or automated (DoorDash, anyone?). That convenience is great, but it also makes it easy to spend money without thinking.

Most of the time, you don’t need to spend. You need to move.

Walk to the store. Cook your own meals. Fix something instead of replacing it. Take the stairs. Ride a bike. Do the thing that costs nothing and makes you healthier at the same time.

Any time we get to use our legs instead of our cars, we do it.

Using your legs more than your wallet saves money, boosts your mood, and keeps you from falling into the trap of paying for convenience you don’t actually need.

If you also factor in the future medical bills you’ll avoid thanks to the movement you’re doing today, your savings increase dramatically.

Wrapping It Up

These six rules are simple, but they create a foundation that makes everything else easier.

And I’m a big sucker for things that are easy.

I don’t worry about emergencies because I have cash. I don’t worry about the future because I invest. I don’t worry about debt because I avoid it. I don’t worry about appearances because I’m not competing with anyone. And I don’t worry about spending because I know how to live without constantly pulling out my wallet.

Money doesn’t have to be complicated. It just needs a system. These six rules are mine, and they’ve kept me grounded, confident, and financially steady for years.

If you want to build a life with less stress and more freedom, start with one of these rules and make it part of your routine. Then add another. And another.

Before long, you’ll feel the difference.

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Steve Adcock achieved financial independence at 35 and is known for his blunt, practical approach to building wealth. In addition to his personal finance work, Steve runs his own IT contracting business, giving him a front‑row seat to how careers, technology, and money intersect in the real world. You can find him on X (formerly Twitter) at @SteveOnSpeed, or at his primary website, millionairehabits.us.

J$: He also recently published a new book which he forgot to share! –> Millionaire Habits: How to Achieve Financial Independence, Retire Early, and Make a Difference by Focusing on Yourself First (affiliate link)

From Amazon: “Steve Adcock delivers a fun, insightful, and hands-on discussion of how to build financial security, retire early, and give back to the community. You’ll learn to focus on yourself and your family first, creating personal wealth for the purpose of giving back to others…

“Saving money” isn’t a goal in and of itself, but rather the end product of the personal wealth equation: Wealth = Income + Investments – Lifestyle. You’ll discover how to pay yourself first with concrete guidance and practical advice drawn from people who built wealth on modest incomes.”

Congrats bro Many months later, lol…

[This post, 6 Simple Money Rules I Live By Every Day, was first published by J. Money on Elite Edge Money]

[Good morning, friends! Got a fantastic guest post for you today that’s got me reconsidering all kinds of habits over here! It comes from Amanda Grossman over at Frugal Confessions, and hopefully it gets you rethinking some of your routines too Take it away, Amanda!]

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I’m about to introduce you to a frugal living rule I started using almost a decade ago.

It’s saved me untold amounts of money.

And to be honest, it’s without much sacrifice at all (none, in some circumstances).

It’s called The Half Rule.

I only wish I’d discovered it back in my early 20s when I could’ve really used it!

It’ll help you fight inflation. It’ll cut your grocery bill down without having to stop buying the products that you like.

And you’ll start to have some money left at the end of the month.

While it can’t be used on everything, it can be used in more cases than you think.

Ready for it?

What is the Half Rule?

The Half Rule means cutting the amount of product you use in half, and seeing what happens.

Does it still perform like it should? Then keep it at the new, half-level. Do you need to add a bit more to it? Go ahead and do it.

You’ll likely always end up using less than you were before, causing you to have to buy a replacement product less (and saving you money).

I started playing around with this over a decade ago. and I can’t tell you how much money it’s saved me (without having to buy generics or go without).

You see, I’m going out on a limb here, but I think we all use too much product.

And there are three main reasons for that:

• Manufacturer Recommendations are Inflated: Manufacturer recommendations are often asking us to use more of the product than necessary.
• Habits are Hard to Break: We have developed a habit of using a certain amount of a product, and it’s hard to change habits. (J$: This is me!! I need to work on this!)
• Product Inflation is a Real Thing: We’re experiencing product inflation, where we think to get the same amount of pleasure out of something, we need to use more of it (has anyone increased their Starbucks size to grande, for example, to get the same degree of pleasure they used to get from a tall?).

I tested this rule out by cutting in half my use of:

• Shampoo
• Laundry detergent
• Dryer sheets (I’ve cut them in half to no bad effect for decades now)
• Cooking oil (started using an oil mister instead of pouring it)
• Restaurant meals (I typically take 1/3 to ½ home for lunch)
• Bagels for breakfast (I started eating half a bagel at home, instead of a whole one)
• Starbucks order size
• Glass stovetop cleaner
• Tape (when wrapping gifts)

And those are just the easy ones you can start with.

[TIP: to save even more money, pair this Half Rule with my Bank It! Saving Money Challenge.]

Why is the Half Rule So Effective?

When you change a few things here and there, or something by a little amount, it’s not really noticeable to your bank account.

Not enough to make you want to keep doing it.

By cutting your use of many things in HALF, you quickly see the change to your money.

Imagine having to buy 10 products half as often – that’s a significant change to your spending.

And with these current prices?

Yeah… you’re going to notice.

It starts a ripple effect of savings – one that you can control.

[TIP: you could then use your extra savings to get one month ahead on your bills!]

A Specific Example of Where This Paid Off

Most of us don’t want to take a close look at how we’re using products, because it’s become a habit.

And habits can be hard to break.

I’m no different from you in this.

But many times, the money we need to actually increase savings is being spent on our habits.

For example, I love Dr. Bronner’s Peppermint soap. I use it to create foam hand soaps for each of our bathrooms.

I was filling up half the bottle with the semi-expensive peppermint soap, and then the other half with water.

I can’t even blame this one on a bloated manufacturer recommendation; when I finally looked at the instructions, I noticed that I was only supposed to use 1 part soap to 3 parts water.

It was all me (product inflation? Habit? Not really sure).

I changed. Now, I’m buying Dr. Bronner’s refills less often.

Ka-ching!

When you bring awareness to how you’re using a product, then you can make a change.

Is The Half Rule for Everything?

Again, this rule does not work for everything.

But I would argue it works for MUCH more than you will initially think.

For example, you can’t fill up your gas tank halfway and still commute the same number of times to work.

Never, EVER, cut a prescription in half.

And you won’t catch me eating ½ of a single serving size of yogurt.

But why waste your money on a daily, caterpillar-sized amount of toothpaste on your toothbrush when a dentist-recommended pea-size will do just fine?

Take a handful of products, cut your use in half, and see if anything changes. You might be surprised. I know I was.

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Amanda L. Grossman is a Certified Financial Education Instructor (CFEI®), a 2017 Plutus Foundation Grant Recipient for her kid money program, The Mt. Everest Money Simulation: A Kid’s Educational Adventure, and founder of Frugal Confessions and Money Prodigy. You can learn more about Amanda here.

// Image by OpenClipart-Vectors from Pixabay
// Link to soap and mister are Amazon affiliate links

[This post, “The Half Rule” – A Frugal Hack I Live By, was first published by J. Money on Elite Edge Money]

Happy New Year, friends!

Just had a randomly refreshing chat with a fellow coffee shop goer, and as things tend to go we ventured into finances and the words that came out of his mouth were outstanding, lol… So much so I had to stop him mid-sentence a couple of times to make sure I got his phrases right!

Here were some of the highlights from our convo, in *his own words* as best as I can remember…

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“I would rather play chicken with my bills than with my savings”

Instead of spending on “wants” first like I’ve done all my life, I flipped it around and now SAVE first and pay bills second. Then if there happens to be anything left over, I use that to buy any “extras” I might want.

I went from not being able to save $1,000 and a credit score of 580, to having over $13,000 in the bank and a score of 730 within one year!

There were a handful of things that led to this, but it was mainly re-ordering my priorities and paying myself first that got me going in the right direction.

“I’ve gone to a more “spatial” system of managing my cash flow”

Another reason I was able to save so much this year was because I drastically changed my management system. Instead of having everything in 1-2 accounts, I’ve gone to a more “spatial” system.

What I mean by that is I spread my accounts across multiple banks that all serve a specific purpose:

1. I have one account for my short-term savings
2. One account for my long-term savings
3. One account for my bills
4. And then one account for my spending/wants.

My business banking looks similar: one account for savings, one account for bills, and another account for taxes (I pay quarterly). It’s a lot to manage, but it’s brought so much peace and savings.

“I threw away my debit cards”

The first thing I did when I started re-arranging everything was to move all my savings into a brick and mortar bank that had no online access. This way the only way I could access my money was by going there in person. I did get debit cards, but I immediately cut them up and threw them away.

This has immensely strengthened my discipline, and partly why I was able to go from $1,000 to $13,000 so fast. It took me over 30 years to save my first $10,000 and now the hardest part is over!

“I spend a lot of money looking for women”

Over the course of 3-4 years I’ve spent $40,000+ looking for love, or about $1,200/mo.

Part of that goes to dating apps like eHarmony (which I initially balked at as it cost me $300!), but most of it comes from just doing my best to be “visible.” So lots of eating out and hanging with friends, visiting bars/community events/etc. You have to put yourself out there if you truly want to meet people.

I initially felt bad about spending all this money with no savings in the bank, but later I realized I was prioritizing what I wanted and I became okay with it. Now I could have been more *efficient* with the way I went about it, but I am proud to say it worked out in the end and I will be getting married at the end of this month! Ironically, to a woman I found on eHarmony!!

(Editor’s Note: This was the most interesting part of the whole conversation, haha… As someone who met their partner years before online dating and apps came around, I’m always fascinated by the mixture of tech and love. And really how much dating seems to cost in general??! And I’ve surely never met anyone who has TRACKED IT ALL, lol… Probably exactly what I would do if ever back in that situation )

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So basically, yeah – most stuff we’ve heard before, but in much more entertaining ways ;)

1) Save first, spend later

2) Build a system that works for you!

3) Make yourself more “visible” when you want something. Whether it be love, business, career, you name it. If you’re not putting yourself into the position to *receive,* you’re limiting yourself! Nothing great has happened sitting on your couch – you have to put yourself out there and tell the world what you are looking for!

(This is exactly, btw, why I choose to do my projects out of coffee shops. I never know who I’ll run into or what type of magic might happen! And surely this blog post would have never been created, so who knows what you would be reading right now??! Lolol…)

At any rate, all good things to think about as we head into the new year here :)  Will you consciously place yourself in situations which allow you to get closer to your goals or farther away from them? Are your management systems still serving you okay, or is it time to blow them up and start from scratch? Where will you be putting that first dollar from your next paycheck? If it isn’t to YOU, you need to re-read this whole blog post! ;)

Your F.G.A. (Financial Guardian Angel),

[This post, I would rather play chicken with my bills than with my savings, was first published by J. Money on Elite Edge Money]

It’s funny how you can make anything into a game.

On gym days I’ve started doing this thing where after our boot camp I reward myself by grabbing a basketball and shooting around for a while, patting myself on the back for making it. But then I started feeling guilty for having fun when I’m supposed to be “working out,” so I made this arbitrary rule that I can play for however long I want, but I’m not allowed to *leave* until I make a half-court shot :)

Which in itself is pretty hard of course, but then I added a twist where when I miss it I have to RUN AFTER THE BALL and try over and over and over again, running back and forth from opposite sides of the court, until finally making it. And when that got easier because I’m now better at making shots!, I upped the game to making THREE half-court shots before leaving, and then after each one I drop to the ground and do 15 pushups for good measure

I often wonder what the people around me must think watching this lunatic running around launching balls into the air and then falling to the floor, but it’s made my gym days 3x more exciting while still accomplishing the mission.

I thought of this when I got the following message, only instead of silly basketball games it’s a savings one!

Years ago you shared a simple grid which my husband and I call the bingo sheet – each square contains a dollar amount to put away each week and at the end of the year, if done faithfully, results in saving an extra $1k.

I use this every year, but with a twist: I try to double or even triple the amount each week to save even more. This year I’m on track to hit $4k… it’s really a fun way to save, so thank you for sharing that!!

– Denise B.

Beautiful!! She made savings fun by taking on the challenge, and then when she was ready to up the game she threw in a twist! Because why not?! Life is boring playing it straight… Sometimes you gotta shake it up!

Here’s that “bingo sheet,” made by the fabulous Jamie from MediumSizedFamily.com:

[Click to download]

As Denise mentioned, the game is pretty straightforward: each week just pick a new square, then throw in the corresponding amount right into savings – and BOOM! You’ll have an extra $1,000 by the end of the year, which just so happens to be the amount you should spend on me for Christmas ;)

And if you really want to *see* your results, open up a brand new savings account and start saving fresh so it doesn’t get muddled with all your other dollars! You want to SEE and FEEL your progress as much as you can so it continues to motivate you. Then when you’re done, empty it out and challenge yourself next year with a twist!

It really can be as easy as that. This stuff isn’t complicated, but oftentimes our *emotions* can be. I don’t know why we’re wired like we are, but keep trying new ways to keep it fun and fresh, and with a little luck you’ll be FIREd in no time…

Thanks for reading today! Have a very merry holiday season, and we’ll see you out there on the courts (like a wild man)

PS: If this challenge doesn’t dingle your dongle, here are 8 more to try on.

[This post, The Bingo Sheet 💰, was first published by J. Money on Elite Edge Money]

Just a quick note to let you know today is National Savings Day! The perfect time to stash a little extra for your future (sexy) self

Will you join me in xferring over an extra $20 into your savings account right now??! You won’t miss it at all – Let’s gooooooooooooo!

[This post, #National Savings Day, was first published by J. Money on Elite Edge Money]

Morning!!

Back with some more great ways to save them dollars! Courtesy of The Debt Free Guys today which I stole yet again off Instagram, lol…

THERE’S JUST SO MANY GREAT VIDEOS THERE from our community!!  And much faster/fun to digest too – I feel like a dinosaur still just blogging away my thoughts here

Anyways, see which ones you can adapt to your own life!

And hopefully it at least includes the first one (hubba hubba)…

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[Click the video to watch it on Insta (the dancing is spectacular! ;)), or peruse below for their write up + my two cents… If it reads weird it’s because it was shortened for Instagram.]

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We’re always looking for ways to cut expenses so we can put the extra into investing to build cash flow.

Here are 10 crazy ways we’ve saved money over the years:

#1. Naked Sundays in the summer. Stay home vs. spend on expensive brunches and entertainment. Stock up on food and drinks, plan fun things to do. [Reminds me of strip budgeting, lol… everything is more fun without clothes on!]

#2. Do a dry month. Cut as much as $400 from spending (less likely to dine out). Opportunity to connect with sober friends. [YES! Plus it’s a great break for your health too and shows you can really accomplish hard things if you need to… I’m currently in week #4 without a sip of alcohol and it’s not as bad now that I’ve gotten past that first week of hell! Lol… (but will probably stop at the end of the month as I enjoy it too much :)]

#3. Keep our phones for 5+ years. $25 to $35/month to rent = $1,500 to $2,100/year. Put on rewards credit card to earn free travel. [I’m still an old school Android Galaxy user myself, going on 8 years now, and only paying $30/mo… Sometimes I do need to shell out an extra $5 to bump up my bandwidth with all this new Instagram watching I’m doing, haha, but by and large it’s saved me thousands over the years and don’t have any plans on going back…)

#4. Choose a limited data plan. Use Wi-Fi instead. Saves $80/month. [Yup, see note above!]

#5. Stick to the same simple menu and grocery list. Planning meals makes shopping easier. Splurge from time to time (keeps it special). [Agreed! Mrs. eliteedgemoney does most of our cooking/shopping, but it’s usually the same core meals each week with one or two swapped around to keep it interesting… In fact, she just started writing out the week’s meals on a wipey board in our kitchen too so everyone knows what we’ll be having each day now. Which is great as it lessens the barrage of questions from our kids!]

#6. Grocery shop every 7 to 10 days. Less time in-store = less money spent. Build a menu around foods already at home or on sale. [I don’t think this is possible with a million kids, but yes – less trips is preferable :)]

#7. Semi-annual spending analysis. Opens eyes to unconscious spending/budget creep. Reminds us of goals and keeps us on track. [And if you really want to impress the pants off your significant other, put together a nerdy powerpoint on everything!]

#8. Make our own iced coffee daily in the summer. Up to $12 for iced coffee x 4 visits/week = $3K/year. Save by using a French press, storing in reused spaghetti jars. [Not here, lol… I do make my first cup of coffee at home while I’m doing “me” time in the mornings, but once the kids are out the door IT’S COFFEE SHOP TIME FOR ME!!!! Mainly for the ambiance and people and easier motivation to work though vs the coffee itself as it basically doubles as my “office space”. (And is significantly cheaper – just costs a cup of coffee!)]

#9. Bought/rented housing with 1 salary. Doesn’t mean can’t have a beautiful home. Allowed us to put away hundreds of thousands of $ in 401(k)s. [Yes yes yes! Living off 50% of your income does wonders for your flexibility and goals… You could even take it as far as stopping work altogether if you wanted to and just coast right into WifeFI! ;)]

#10. Drove a 2006 MINI Cooper for 15 years. $100/month car maintenance vs. $500/month car payment. Saved $50K (including the $8K spent on maintenance). [Makes me miss Frankencaddy so bad, ugh… No monthly payments is nice, but it’s even better when your car actually MAKES you money – heyo!!!]

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How about you? What funky tricks are you doing lately that saves you some green??

If you’re on Insta, let me know so I can stalk your life too! ;)

You can find me @jmoneyyyyyy.

[This post, 10 Crazy Ways We’ve Saved Money Over The Years, was first published by J. Money on Elite Edge Money]

[Hi guys! Thought we’d change it up today and drop my *personal newsletter* here so you can get an idea of what they look like… Each week I share my favorite articles and notes from around the community, updates on my projects, personal stuff, and any other interesting nuggets I think people might find helpful. They go out once a week on Fridays, and you can sign up to it here if interested.  Hope you like it! Now take it away, J. Money! ;)]

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Good morning!!

Happy Halloween Weekend!!

Y’all dressing up or hitting any wild parties??! I wish I could say I was, but unless you count chaperoning a thousand kids as they hit event after event after event all weekend as juicy, I most certainly will not be lol…

Though I did find these killer shoes a few days ago I’ll be celebrating with ;)

Aren’t they just perfect for Halloween??? Super cheap too as they were “lightly used” (I love vintage stores so much…)

As for my costume, I’ll probably just go w/the tried and true “skeleton rock star.” Which consists of basically just wearing a black shirt with skeleton bones on it and rocking my ‘hawk. Though perhaps this year with the shoes addition I’ll call myself a “killer rock star”? Hmm…

If you’re still looking for some good – and frugal – costumes, here are a few of my favorites from an old blog post of mine: 16 Last-Last Minute Halloween Costume Ideas

• Static Cling – Wear normal clothes and safety pin socks and lint to it!
• Christmas Tree – My all-time favorite costume ever: Wear all green, wrap yourself in Christmas lights, and then plug yourself into the wall :)
• Chick magnet – Tape a bunch of Barbie dolls to yourself. Or use pictures of hot girls!
• Smarty Pants – Tape smarties candies to your PANTS
• The Tanning Bed – Tape glow-sticks up and down your arms. Then go around the party, entrapping people in your embrace: Instant tanning bed.
• Pinterest board! Dress in all white, then hang a cork board around your neck with pictures of cute houses, tattoos, book cases and whatever else people like to “pin”
• Random Hook-up – Drape a lot of random colored extension cords around you, haha…

Whatever you end up going as though, I want pics please :)

Or you can just stay home and binge Elite Edge Money all night long – that’s probably the best *treat* for you… Less calories and not nearly as scary! Yum!

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Posts on Budgets this week:

The Gucci Mane Guide to Greatness — A review of Gucci’s latest book on becoming better versions of ourselves… Not nearly as good as his Autobiography I devoured earlier, but still chalk full of great takeaways that I share here.

The Power of Rewards (AKA In Which I Bribe My Kids to Behave…) — It may not be at the top of the Parenting 101 handbook, but boy does bribing sure work Here are a handful of examples I’ve incorporated into our household lately.

*To get these posts automatically emailed to you on the day they come out, sign up to my blog newsletter https://eliteedgemoney.com/subscribe/.

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Favorite Articles Around The Community:

My First 6 Months of Early Retirement Sucked Shit: What They Don’t Tell You about FIRE @ Bitches Get Riches – “My body and my subconsciousness understood exactly what was happening to me. “You are very, very depressed,” they told me with crystal clear enunciation. “Sleep ten hours a day, invest 200 hours into a video game you don’t particularly like, and put cheese on EVERYTHING until this passes.””

Want to Be a Lazy Seeker of Financial Independence? Invest in Your 20s. @ We Want Guac — “Almost all of today’s most famous investors are wrinkly old fartbags. This tends to give the impression that A. it’ll take you multiple decades and unfathomable luck ‘til you can enjoy wealth, B. all the good investing opportunities dried up decades ago, or C. young people just shouldn’t try to get ahead until they’re older and wiser. Not so! It’s actually the youngest investor in the room that’s the most powerful.”

Diversify Your Friends And Financial Goals @ A Teachable Moment – “Studies prove that having friends attracts more than good times. Good friends boost the immune system and help protect you from catching a common cold.  Different types of friends provide the most significant value add.”

Waste a Few Hours, so You Don’t Waste Years @ Darius Foroux — “Being productive doesn’t mean utilizing every waking minute to do productive things.  Sometimes, spending a day doing various things around the house, maybe taking a walk or doing some reading, can actually be more useful. These moments help us examine our lives.”

Expectations and Reality @ Collab Fund — “Imagine a life where almost everything gets better but you never appreciate it because your expectations rise as fast as your circumstances. It’s terrifying, and almost as bad a world where nothing gets better.”

My Favorite Nomad Travel Tools! @ A Purple Life — “Somehow I’m going into the 3rd year of my retirement and my nomad travel life. During that time, I’ve amassed an arsenal of tools to help me on the road. Previously, I discussed general tools I love to use in my day-to-day life that help it seem like I have my shit together , but today I want to focus on things that help me be a more effective traveler.”

Ultimate Detailed Price Battle!!! Is Shopping At A Warehouse Club Really Saving Anything? @ Chief Mom Officer — “When I remove all the items I couldn’t buy at Aldi’s because they didn’t have an equivalent or where I wouldn’t want the alternative option for my family, it’s clear that shopping at BJ’s is the winner for us. Those items would cost $285 at BJ’s compared with $333 at Aldi’s. The cost savings is over $100 when compared with Target, and almost $200 when compared with Price Chopper!”

(Hat Tip to Lazy Man and Money who came out with a different conclusion when he analyzed the costs for his family… How about you?)

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News & Nuggets Around The Community:

Interesting news and clips that caught my eye this week…

• Ali from All Options Considered celebrates 4 years of being FI– woo!
• “It’s as hard to start and run a small business as it is to start a big one. You will suffer the same toll financially and psychologically as you bludgeon it into existence… So if you’re going to dedicate your life to a business, which is the only way it will ever work, you should choose one with the potential to be huge.” – Stephen Schwarzman via Darius Foroux
• “When you buy a home to live in with a plan to later rent it out, you’re doing two things at once. You have to consider the property more from an investment perspective and less from an emotional “I love this house” perspective. This isn’t always possible (or advisable), but, if you live in a hot rental market and have aspirations of building a passive income stream, buying a home that can be turned into a rental can be a great option.” – Frugalwoods
• “I was at a gas station filling up when a man came up to me, excited to see the car I was driving. He gushed over how cool he thought the car was and asked how I could afford it. Embarrassed by the attention and eager to shift the focus to something else, I truthfully explained that I had eaten peanut butter and jelly sandwiches every day for an entire year to pay for the car. Upon hearing that, his smile waned and I could tell that he doubted the sacrifice was worth it.” – Humble Dollar
• “Decades ago, when I was in Sales, the top contact at my largest customer made a comment to me that I’ll never forget. I was moving on to a new job, and Fred gave me what turned out to be one of the biggest compliments of my life. “You’ve always looked me in the eyes,” he said. “If someone doesn’t make eye contact with me, my experience has taught me to not trust them. You make excellent eye contact, and you’ve been one of the people I’ve trusted most in my career.” When you’re talking with someone who matters in your life, look into their eyes.” – The Retirement Manifesto

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New Job Opp on The Scene!

(From my friends over at the FIRE app, Topia)

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Get paid to think about FI!

We’re on the lookout for an ultra-passionate person from the FI community who wants to join Topia to lead and manage the Topia community. If you love FI and want to get paid to spend your days, thinking, talking and breathing FI then look no further! This could be a full-time or part-time role (min. 15 hours a week).

What this role entails:

• Regular chats with Logan & Grant to talk through the monthly community plan and give updates on how the community is doing
• Drive daily FI conversations, engagement and discussions within the Topia community
• Plan, schedule and manage virtual events within the community
• Find and post FI content into the relevant areas of the Topia community

If you think this could be a good fit please reach out to logan@topia-app.com

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And that’s a wrap!

Hope you get more treats than tricks this weekend!

// For previous newsletters: Archives
// To connect further: @Twitter | @Facebook | @Instagram | @LinkedIn

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Liked this? You can sign up to get this newsletter in your inbox every Friday here!

Hope you found it helpful :)

[This post, Tricks and Treats 💰, was first published by J. Money on Elite Edge Money]

Morning!

Here are a handful of things I do/did that’s really impacted our finances over the years…

Check ’em out and see if any of them are worth testing out!

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Rounding up debt payments! — Whatever your monthly payment is, just roundup to the nearest $10th and kill off a little extra debt without even noticing it! This works sooo good for your credit cards, car loans, or even mortgages. Or if you really want to step up your game – round up to the nearest $100th! We’ve probably shaved off at least a year or two of payments doing this, and makes it a bit easier to budget too if you prefer using whole numbers vs exacts.

Rounding up investments — Similar to the above, if you get into the habit of rounding up your monthly investments they’ll only compound that much faster. And if you really want to speed things up, use apps like Acorns which will *automatically* round up ALL YOUR TRANSACTIONS to the nearest $1.00 and drop the difference right into investments for you. So every time you swipe your card for coffee or groceries or even your 100th Amazon purchase of the week (hah), you’ll feel a tad less guilty knowing that you’re at least investing at the same time ;) I banked $600.22 when I first tried Acorns without even noticing it – it was great.

Actually SAVING your savings! — You know when people say they’ve “saved” money by using a coupon or getting something 10% off or buying one and getting another one for free? Well, you might not have paid full price for the item, but you’re still very much *spending* money vs *saving* since nothing actually went INTO your savings account!

With this spending/savings hack (dubbed “Spavings“) you’re actually doing just that: putting the money you’ve “saved” from discounts right into savings. So that 10% off becomes an extra $4.00 dropped into your account, and that coupon for buy one get one free becomes an extra $10.50 banked that you didn’t have to spend. You literally save every time you spend! And let me tell you – it adds up. When I experimented with this for 10 months back in 2018 I amassed $4,040.50 – almost enough to fully fund a Roth IRA!* Try it out for a month and see how it goes!

Asking for fees to be waved — Probably the easiest of all tricks. The next time you get a fee or penalty or any other of the sort, just pick up the phone, or email, and ask (politely) if it can be erased! I’d say over 50% of the time it works, especially if you’re a loyal customer and it’s the first time you’ve been hit. And often if you ask for a supervisor after getting rejected you’ll win a number of those battles as well.

I just did this with the $19.31 late fees I stupidly acquired on our water bill last month, and within minutes it was waived! 3 minutes and 4 seconds to be exact as I timed it ;) (Shout out to ZJ for reminding me to do this!!)

Doing a “no spend” month — This was one of the first challenges I tackled as a nubile 20-something starting out my financial journey, and every month since I’ve “saved” at least $200 a month from being in more control.

The idea is to spend *only* on the necessities of life for a month (food, shelter, etc), and then resist from spending money on the “wants” (Starbucks, new clothes, new books, etc). Not only do you save a hefty amount for the month, but more importantly it forces you to STOP and face your embedded behaviors over the years! Where you learn quickly what triggers your desire to spend and how to curb it since you’re not allowed to for the month. And if you’re really smart about it, you’ll put in some barriers over this time so that when the month runs out you don’t go back to your freewheeling ways and erase all progress! Just be sure to *tell everyone* you’re on this mission so all your friends/family don’t hate you every time you have to say “no” to something ;)

Waking up an hour+ earlier — Not a finance trick specifically, but slowing down your life and spending more quality time on yourself will definitely affect your money and mood (and confidence!) for the better. And certainly if you use this hour entirely on improving your finances every morning there’s no way for your wealth not to grow! Imagine spending a whole hour every single day on it?! For me these days though, I choose to use it for my *mental* health and guard this time pretty intensely. All other hours are dedicated to my kids or family or life/projects/yada yada but these 1-2 hours every morning are solely for ME where I sip my coffee, feed my brain (i.e. read), eat my porridge, and basically just reflect on life as the sun creeps up and brings about the new day. One of the best habits I’ve ever set up for myself, and I owe it entirely to Benjamin Franklin!

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I’ll have to dig through my brain for more, but these are just some of the smaller things we’ve done over time to really help grow our wealth… Which may not look that impressive on their own, but combined can really pack a punch! Try one or two out over the week and see how you do!

Any tricks you do yourself that’s worked out well too?

*I included other “free” money in this account too, like birthday checks or found money on the ground, or any savings from cutting down bills over time, etc… That’s the real game changer right there – doing one-time work for monthly passive savings!

[This post, 6 Ways to Turbocharge Your Savings, was first published by J. Money on Elite Edge Money]

Morning!

So a new coaching client of mine has a weekly newsletter on helpful tips for your money, and I liked her last one so much I had to steal it and share with everyone here :)

Rita’s been a consumer advocate and personal finance journalist for the past 2 decades, and unlike some of us who tend to get a bit verbose with our tips (*ahem*), she’s great at condensing them into bite-sized nuggets.

Here’s her latest 10 tips – hope a few of them help!

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Rita R. Robison Newsletter

#1. Look for sales on clothing, grills, and camping gear in October. Wait until November to buy TVs, iPhone 14s, laptops, and electronics. Get ready for the Black Friday sales by taking a look at this article on the best laptops.

#2. Save up to 50 percent off on groceries from Flashfoods, an app that connects surplus food from grocery stores directly to consumers. The meat, produce, and other perishable items are near their “best-by date” and need to be picked up the same day. Some stores participating are Family Fare, BG’s, Meijer, and GIANT.

#3. Take a look at this article on how to cut out food waste and save money in the process.

#4. Watch out for scams if you want to donate to victims of Hurricane Fiona in Puerto Rico.

#5. Be aware when the Fed increases interest rates, like it did recently, the rate goes up on your credit card balances not just your new purchases. See the article linked for seven ways to lower your credit card debt.

#6. Check out Amazon Outlet. The items are overstocks – Amazon bought too many of them – discontinued items, or clearance items. You’ll see clothing, kitchenware, home decor, electronics, and other categories discounted.

#7. Tired of your wireless plan? Satisfaction with value mobile virtual network operators or MVNOs, such as Boost Mobile, Consumer Cellular, and Mint, is increasing and they’re saving money for consumers. MVNOs buy minutes from the big mobile companies like T-Mobile and AT&T. However, MVNOs have fewer features.

[Editor’s note: I’ve been using an MVNO for over 8 years now  – Republic Wireless. Chopped down my cell bill by $100 every month adding up to over $10,000 now! From one simple move!]

#8. Check out these tips for finding holiday flight deals even as ticket prices spike. One is to get a ticket to fly on Monday, December 19. Flights are generally about $120 less costly that day.

#9. Join financial blogger J. Money, of Elite Edge Money, and see how many of these seven financial tips from Mark Cuban you can check off. [Thx for the shout out!]

#10. Read any papers carefully you’re asked sign when you take a friend or relative to live in a nursing home. Some facilities put illegal clauses into contracts saying you’ll be on the hook for the bill. See the article linked for the stories about the troubles a daughter and a friend had.

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Rita R. Robison is a consumer and personal finance journalist, making her living over the past 20 years by finding the best bargains, calling out the crooks, and advocating for regular people just like you and me. Subscribe to her weekly newsletter for bite-sized financial tips, and get a bonus free e-book on how to optimize your personal finance decisions. You can also find her on her blog, Rita R. Robison Consumer and Personal Finance Journalist.

PS: I just signed up to her newsletter myself – something I rarely do! But how great are these?! It’s like getting all the financial secrets each week, love it…

[This post, 10 Quick Hits, and a Newsletter Recommendation, was first published by J. Money on Elite Edge Money]

“What do you put in your hair to keep it up?” – the barista asked after ordering my daily latte.

“Just hairspray! And then I twist to make the spikes.” – I excitedly retorted back, always up for a good chat about hair :)

“Awesome. I’m thinking of doing my hair like that next.”

“YES! You should!! You’ll save a bunch of money too as you can do it yourself.” – I replied back, which I think excited her more than the actual hair style, and rightfully so! Women’s hair is no joke to maintain. My wife drops $200-$300 every time, and she has to space it out more than she likes just so her frugal bones don’t snap in half!

But rocking the ‘hawk? FREE. All you need is an electric razor, mirror, pair of scissors and the aforementioned hairspray.

Once armed up with those you’re set for years to wow all future passersby

Of course, I didn’t set out to save money by wearing my hair like this – I just dig it – but it’s been a nice accidental perk indeed… I reckon I’ve saved at least a couple of thousand over the past 15 years doing my hair this way, not to mention loads of time saved too since you don’t have to mess with scheduling and visiting appts every other month, etc… You just pick up the razor whenever you’re ready and knock it! Easiest hair cut ever – maybe outside of being bald ;)

This got me thinking of other ways I inadvertently save too, and here’s what I’ve come up with so far… How about you?

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My clothes

I feel like when your go-to outfit is jeans and a tee you’re doing pretty good, frugality wise. And minimalist-wise too, though again in both cases it’s pure accidental. The combo is just the most coziest/easiest to rock! And more often than not, you’ll find a number of holes in them too, all *earned* btw and not paid extra for, thank you very much

I’ve also gotten better about repurposing old clothes I no longer wear anymore. Such as earlier this summer when I realized I needed some new shorts but didn’t have the time – or desire – to go shopping… Instead, I rummaged through the box of donations I had in my basement waiting to go out, and then professionally and methodically took sheers to a few pants hiding there and transformed them into shorts with a couple of snips!

And voila!

Similar to the ‘hawk it’s not everyone’s style, but for this homeboy it works perfectly. And now gives me an additional back up plan for buying pants in the future too! “Jeans don’t fit as well as I’d hoped? Maybe they’d be better off as shorts! *Snip *snip *snip… DONE!”

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Food.

If I could only pick one food item to survive on, it would be peanut butter. I swear, whoever invented it needs a Nobel prize as MY GAWD is it heaven’s fruit!! I would honestly pay $100 a jar if I had to for it, but thankfully inflation hasn’t strangled it just yet, so I can enjoy my peanut butter and jelly sandwiches without scaring my wallet too much.

And lately, I’ve been smearing it on another of nature’s dessert too for an afternoon snack: sliced apples! Not only does it rival the taste of chocolate or cookies [or enter any other types of junk food here], but it’s also HEALTHY so you get an additional jolt of feeling good about yourself on top of it! Cheap and tasty – highly recommend.

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Transportation

You know those times when friends ask “should we Uber or walk?”, well I choose walking 9 times out of 10 because walks are amazing… They also happen to cost $0.00, but the joy from fresh air and scenery tops the $$ all day every day, unless it’s pouring out or 150 degrees, in which case OK – roof over my head it is!

But if I could I’d use my feet to go everywhere and not even own any cars…. We do, because of kids and where we live and responsibilities blah blah blah, but even then at least we buy used. In fact, I don’t think I’ve ever owned a brand new car before?! ***checks memories*** Nope! Never! Wow…

Now that one IS more price-based for me, but it’s also a “this thing is too shiny and I don’t want to stress out about scratching it every waking moment!” type deal. I swear when I hit that fire hydrant years ago w/ my new-to-me Lexus and dented the bumper I immediately sensed a sigh of relief… At least after making sure water wasn’t going to spray all over me   But basically brand new things and me don’t mix well.

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Daily wants/entertainment

And lastly, it fortunately doesn’t cost that much to keep me entertained in this world… While every now and then I do desire something that might be pricey, most of my daily “wants” are pretty cheap: trip to the coffee shop…. a new (used) book… a skate around town… a beer with my brother…

Even the coins I collect are all “used” and look like they’ve been passed around a while! No perfect and shiny ones for me – even if they are more valuable.

Maybe all this makes me “simple”, I don’t know, haha, but either way I’m glad it’s how I was made as the opposite would require more energy to maintain :)

[Frugal reading, but not so frugal bookmark! Handy when you need one though :)]

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So lots of ways I unintentionally save! Of course, I also unintentionally spend more in other areas too I’m sure that may make up for it, haha, but we’ll save that list for another day :) Let’s keep today the day of winning!!

What are some of the things you do that naturally saves you money? Are you the opposite of me with any of these above?

It’s good to embrace such natural frugalness… Temptation kills us in so many other areas of life – gotta be thankful for the stuff it can’t touch!

[This post, Ways I Accidentally Save Money…, was first published by J. Money on Elite Edge Money]