Build wealth. Love your life
I can hardly look through the personal finance articles of the day without reading something that extols the power and beauty of compound interest. Personal finance geeks will tell you to start saving as early as possible so you don’t miss out on compound interest. They’d tell you that saving…
Let me ask you a question: How much savings do you have? Keep the answer to yourself if you like. We are British, and we view (over)sharing about money as vulgar. But if you have low savings, keep reading. According to a recent study, over 11 million people in…
Who isn’t looking for frugal tips to lower their energy bill, right? It is winter and the costs of energy are creeping up. And the higher your energy bills go the lower your belly sinks because cash is tight, especially this winter. I know. I’ve watched our energy bills…
There are many myths online about saving money and toxic beliefs about paying off debt that simply don’t work in real life – and with 18% of the American population not saving any money at all, it’s important to avoid these myths. Are you unknowingly preventing yourself from saving…
“Gosh, I’m so glad I have no savings and a lot of debt!” It was a dark autumn evening in 2007 and I had just spent a couple of hours in a lecture theatre full of people frantically worried about their savings, pensions and investments. Most had worked hard…
You may think that being a saver is boring and it will damage your groove. I thought so as well! For decades, I was the hedonistic intellectual who was above and beyond money. Only I wasn’t. Still, I found saving boring and didn’t even think of doing it. Well,…
If you’re struggling to keep your everyday bank account coloured in that healthy black shade, then hearing that the big energy companies will increase the price of energy bills this year – some by more than 10% – probably didn’t come as welcome news. It doesn’t matter whether you have…
The other day I was talking to a younger colleague of mine and it occurred to me that young professionals today have a specific problem. No, it isn’t that they are in debt because of expensive but relatively useless education. As it happens, my colleague and his wife have paid…
Many years ago I persuaded myself that, as I had become self-employed, it was important to take care of my aged self. Or at least, think about it. I don’t recall now whether this was from a call or a suggestion or I came to the conclusion without prompting. I…
As regular readers will know, we are looking to build an investment portfolio and are therefore becoming interested in the science and practice of storing money – that is, investing. So let me dream for a little, imagine that we have already amassed a stash and want to put it…
Yesterday Maria published a post suggesting that for a fulfilled life in our pre-dotage before we are off to the commune, we will need to amass a net worth of some £2.5 million ($4 million) of savings and investments over the next 5 years. This is our retirement, not…
I know, I know! In a realm where saving is a major virtue – bordering on dogma – this question may sound as heresy. Nevertheless, it keeps popping up in my mind lately: can we be saving too much? Surprisingly, or not, my answer is: yes, we can be saving…