Friday Night Highlights
Welcome to this weeks edition of the Friday Night Highlights, where I scour the personal finance blogging world to bring you interesting articles you may have missed.
Did you miss Volume 8 of the Friday Night Highlights? Not to worry, click here to catch up on one controversial article, one practical article and one article that asks, “Where The F Did My Money Go?”
This week we have three articles that I brought together for your reading pleasure
- Matt From Spills Spot asks, Is the lost art of delayed gratification really required to reach financial independence.
- Debt and Cupcakes tells us how being frugal changed her life.
- Tony from I Will Teach You To Be Rich runs us through 5 tax myths, Myth Busters style.
The Lost Art of Delayed Gratification by Spillsspot.com
This article, The Lost Art Of Delayed Gratification, struck a nerve because of my recent purchase of a $1,200 “gift” for myself. I wouldn’t say I am having buyers remorse, but I am realizing, I probably would have been happy with a less expensive, older model iPhone.
Matt, the creator of Spillsspot.com, brings us a great article this week about balancing short term and long term financial goals with the expense of immediate gratification.
The world we live in is continuously becoming more convenient. With services like Amazon, Blue Apron, and Uber Eats aiming to make our lives easier. But does the added convenience come at a cost to your future financial success? Read the article →
Being Frugal Changed My Life by Debt and Cupcakes
In America, if you stray from the consumeristic, YOLO, spend everything mindset, you are liable to be labeled a frugal weirdo. But in reality, you are spending your way to a clear disadvantage.
Debt and Cupcakes gives us a look into how they went from $109,000 debt to a $200,000 net worth by altering their financial behavior.
How frugal is Debt and Cupcakes?
“Well, we stopped buying new phones, we canceled all of our credit cards, we save 60% of our take-home pay, our vehicles are 7 & 8 years old with 116,000 and 151,000 miles, we stopped eating out weekly, we shop around every 6 months for a new car insurance plan, I work to lower our bills constantly, and we have taken 1 vacation in 5 years (only after becoming debt-free)… among many other things.”
I know what you are thinking! One vacation in 5 years may not sit well with many people. If travel is something you value you can build a budget around that once-a-year vacation. Cutting your expenses and paying off debt put you in a position of financial strength. So when you do go on vacation, it is not financed on credit. Read Debt and Cupcakes article →
5 Common Tax Myths Could Cost You Thousands by I Will Teach You To Be Rich.com
With 2018 winding down and tax filing season right around the corner, it is time to start thinking about year-end tax moves. Tony from, I Will Teach You To Be Rich.com, has 5 tax myths that could cost you thousands.
In the style of, Discovery Channels hit show, Myth Busters, each tax myth is deemed either plausible or busted.
Tax myth # 3 was my favorite. “Can pets be claimed as dependents?” You are going to have to read the article to see if you have been missing out on a tax deduction for your furry babies. Read the article →
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