Avoid living in mental poverty with these 10 practical money tips

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This one is for the extreme savers out there — those of you that call yourself frugal but sometimes worry you might border on cheap.

As a frugal person myself, it has become harder and harder for me to spend money without feeling guilty.

I’ve discovered many people also feel this way. We don’t often admit it, even to ourselves, but that guilt is constantly there when spending money.

Stashing your cash is great and can help you achieve goals, but Scrooge McDuck and Mr. Burns didn’t seem very happy and probably didn’t have many friends (Smithers doesn’t count). …


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Traditionally, financial independence involves earning, saving, and investing a large sum of money in your early years so that work becomes optional well before conventional retirement.

The idea is to do the hard work upfront in your 20s and 30s — pursuing promotions or taking on side hustles to earn more money while also cutting back your expenses so that you can save half or more of your income.

Some people may choose to stick it out in a job that they dislike because the salary is high and will allow them to reach their financial independence number as quickly…


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Financial independence and financial freedom. There are plenty of definitions and ways to think about these terms. In fact, they are often used interchangeably in the personal finance space.

However, by framing them as distinct, with financial independence as a numerical goal and financial freedom as a state of mind, you will ultimately lead a more meaningful and successful financial journey.

While financial independence is an amazing goal, achieving a mindset of financial freedom is equally important. It is also possible to reach financial freedom and the benefits that come with it, well before you reach financial independence.

What is financial independence?

As a…


Financial Independence, Retire Early extends far beyond Traditional FIRE

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Today I’m covering 10 types of FIRE in one article. I’ve seen others explain anywhere from 5 to 8 types of FIRE, so I wanted to up the ante. Call me competitive...

If you aren’t interested in early retirement, FIRE has a lot of accessible elements, no matter how much you earn or your current goals or lack thereof. Each FIRE type is about getting better with your money so you can live a more rich and free life with more options (notice I didn’t say wealthy).

Everyone can benefit from the principles of FIRE because planning for the future…


It’s not all about the money…

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I started this article 4 months ago. Something didn’t feel quite right. I recently went back to it and completely started over. I’m really glad I did. I’ll explain why in the end…

Today I’ll share 7 ways you can live rich, even if you aren’t rich (yet). Plus, I quote Matthew McConaughey in section 4, so you know you’re in for a treat.

The first few tips are tactical action strategies. Then I’ll cover the mental approach to living a more rich life. I’m really excited to share this new second version so let’s dive in!

#1. Live rich by starting a side hustle or gig that you love

Start that side…


Easy tips & hacks you’ll wish you knew sooner…

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One of the great things about saving into a 401(k) account is the simplicity of setting it up and delegating what portion of your paycheck you’d like to set aside every payday automatically.

However, this is where most people stop and there are several steps you can take over time to ensure you’re getting the most out of your 401(k) or similar accounts like a 403(b).

1. Increase your contribution later in your career.

At age 50, your annual contribution limit dramatically rises as a way to help those who are behind in retirement savings catch up, so to speak. …


Save on plane tickets, cars, TVs, appliances, laptops, houses, and more!

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This is your ultimate guide to all big purchases — the best time to buy anything. I’ll cover 10 big-ticket purchases most people make in their lifetime and explain how to score the best deals and discounts to keep more cash in your wallet and bank account.

For the most part, this list is ordered chronologically throughout the year. Don’t miss the exact best day to buy a house in the end. Let’s dive right in!

Furniture

January

New models arrive in February so last year’s models go on sale post-holidays. August was also suggested through research due to new models…


And not just on Prime Day

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“ALEXA, SAVE ME MONEY!”

I love home tech. I still have my original Amazon Echo and use it daily to turn lights on and off, set timers while cooking, and settle trivia debates with friends while watching sports.

Recently, I had an idea and conducted an experiment that worked out well for (the most part). I wondered, could Amazon’s Echo pay for itself by helping you save money and time?

The short answer is yes. Many of my ideas were a dead-end but here were the most successful commands I recommend that can save you money and time! …


Instead of a financial planner…

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According to Wells Fargo, finance is the most difficult topic to discuss with others. 44% of their survey respondents selected finance ahead of religion (32%), politics (35%), and even death (38%). Yes, even death.

What’s the best way to tackle your biggest anxiety? Talk to someone! Anyone!

Well, maybe not anyone. Nobody should have to listen to Uncle Jerry’s speculative investment of the month at the family barbecue… I still don’t care about your crypto-bits and dog coins, Jerry! Hard pass.

Money Mentors

When most people think of talking to someone about their financial situation, their mind instantly conjures up a financial…


It’s time to ditch your emotional budget bully

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I once called budgets no-fun finger-wagging fear-inducing jump-scare nightmares. Good in theory, bad in practice. The fastest way to lose friends is to tell people to budget and rant about why it’s so important.

I get it. Budget work for some people. If that’s you, great. I’m not here to bash budgets by any means.

But for me, they don’t work. They’re quite time-consuming, and they make me feel like a slave to my spreadsheet. Plus, the guilt with any dollar I spend… I just, I can’t even.

Instead, I anti-budget. Which means I don’t budget. …

Frankie Calkins

M. Ed. Seattle, WA. Marketing Manager by day. Personal finance YouTuber and Author by night and weekends. @TheMoneyResolution

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