Which Is More Important For Reaching Financial Independence: Increasing Income or Increasing Savings Rate?

Many people think that the primary way to become financially independent is by increasing your income so that you can quickly build up a nest egg. Others think that your savings rate is the most important. The truth is there are pros and cons to both approaches, and the fastest way to FI is by … Continue reading Which Is More Important For Reaching Financial Independence: Increasing Income or Increasing Savings Rate?

The Simple Way To Become A Millionaire

Everyone wants to be a millionaire, but no one wants to work for it. Here's the good news: you don't have to! There's a simple way to become a millionaire with almost no extra work. It only takes three steps. Step 1: Save No matter what income you make, save a portion of it every … Continue reading The Simple Way To Become A Millionaire

Infographic: Student Loan Debt – Is It Really A Crisis?

There has been a lot of talk about student loan debt in the news over the past couple years. The prevailing wisdom is that this debt, which students had to incur to pursue an education for a better life, is burdening the young generation and preventing them from succeeding. Recently, President Joe Biden has expressed … Continue reading Infographic: Student Loan Debt – Is It Really A Crisis?

Your Kindergarten Classroom May Impact How Much You Earn, Study Suggests

Is a Private Kindergarten Worth it? Back in January, one of my clients on Fiverr asked me to proofread and edit his written responses for his daughter's private school application. They were interested in applying for 'lolani School, which is known as the "best private K-12 school in Hawai'i." The application consisted of four parts, … Continue reading Your Kindergarten Classroom May Impact How Much You Earn, Study Suggests

Evaluating Our Own Financial Habits: Do We Follow Our Own Advice?

Many of our articles discuss the best ways to manage your finances, but just because you know what you should do doesn't mean you actually do it. Do as I say, not as I do. In this article, I assess whether our own financial habits match up with experts' advice. Photo by cottonbro on Pexels.com … Continue reading Evaluating Our Own Financial Habits: Do We Follow Our Own Advice?

How Does Cost Of Living Compare By Country?

Many people often daydream about living in another country, perhaps on a tropical island or maybe in an idyllic villa in Europe, either to get away from their mundane lives or to retire somewhere more affordable. But how much does it actually cost annually to live in different countries around the world? Methodology To find … Continue reading How Does Cost Of Living Compare By Country?

How to Make Extra Money as a Stay-at-Home Mom

Many stay-at-home moms (and stay-at-home dads too) leave the workforce to raise their children. Some of them choose to do so to be more involved in their children's upbringing, and others for financial reasons, such as the high cost of childcare. More recently, many working moms are staying at home temporarily to care for their … Continue reading How to Make Extra Money as a Stay-at-Home Mom

How Average Income Compares By State

Income levels differ across the country, so depending on where you live, it may not make sense to compare yourself to the national average. Instead, it's more helpful to see where you fall compared to other individuals in your state. To facilitate this, I generated geographical heat maps using data compiled by 24/7 Wall St. … Continue reading How Average Income Compares By State

What Does It Mean To Be Financially Independent?

Many of you have likely heard of the FIRE movement, which stands for Financial Independence, Retire Early. However, do you know what financial independence means? I previously published an article about what it means to be financially comfortable, but financially independent takes it a step further. In simple terms, it means that you are no … Continue reading What Does It Mean To Be Financially Independent?