Week In Review #1

Hello, and welcome to this weeks review. This is a truly enjoyable article to write each week because I think it’s important to follow as many personal finance blogs as possible in order to make informed decisions about your finances. Though personal finance bloggers are further down the road financially then others this doesn’t mean that you should follow every word they say, instead you should listen to many advisers, take in all the information and then make the best personal decision for you.

So here I discuss the top 5 articles from the week that I will take something away from, that I will implement in my life. What you find in these articles might not apply at all to you or your situation, or it may apply more so than in mine. It’s my hope that you decide the best course of action for you and then live the future life that makes you happy.

So without further ado, in no particular order here are my top five picks from this week.

1. Money Mistakes I Made on Retire By 40 By Kristi Muse

Kristi, like all of us, has made some mistakes in her financial past. But she is admit to becoming the future her and not only that to teaching her children about those financial mistakes in order to not make the same ones.

Mistakes are good, if you learn from them. If you make a mistake learn nothing and make it again than they are terrible. Yes if we never made a mistake we would be in much better situation, but the truth is we wouldn’t know what we know now if we didn’t do what we did in the past. This article isn’t about Kristi’s Mistakes, instead it’s about what she learned and what she is doing moving forward.

2.New Year’s Resolutions: Six Ways To Hack The 52 Week Challenge on The Simple Dollar by Jon Gorey

This was actually written on the 26th of December but I didn’t see it until this week. Normally I would just find another one but this one is so good I had to add it to the list.

To start I hadn’t even heard of the 52 week challenge, with that being said I have started it myself and I think I’ll add it to my monthly update (coming out this Wednesday). So after learning exactly what this challenge was and what was involved in it, it was great to learn of ways to make sure I succeed at it. Take what you learn here and you can change your year and have nearly $2,000 in the bank come December 31st of this year.

3.Is Spending Money on Experience Overrated? On Retire By 40

I try not to have one blog be on this list twice in one week, but as Kristi wrote one article and Joe wrote this one I feel it’s ok. As I’m the one who gets to make the rules it’s going up.

This article reminded me of a conversation I had with a couple of friends just the other day. They were taking me on a tour of their house and showing me all the things they owned,most of which were really amazing to see. They had Disney memorabilia, pieces of sunk ships (several of the Titanic),  old blenders, news papers, base ball cards, and way more I can’t even remember at the moment.

After they showed me around the house they started talking about how they want things not experience. If they had spent their money on going on vacations, they felt, they wouldn’t have anything in return. They would have spent all that money and spent that time but have nothing to show for it but memories that would fade as time went on.

Now I can’t say I agree with them, in fact I think things get in the way of enjoying life, but I do see their point. Yes memories can fade, and having a physical object is tangible verses something you just remember. The point of Joe’s article is the same. Is it really worth it to pay for experience? I think so, my friends on the other hand don’t. I think we are both right.

4.Create Your Mid-Life Crisis Fund Before It’s Too Late on Financial Samurai

I’m only 26 but because I want to build wealth, get out of debt and stay out of debt, the thought of spending an enormous amount of money frightens me. So thinking that I will probably at some point decide I want to do things that are rather expensive. Maybe in 20 years I’ll want a nice sports car, or go on a year long vacation on a remote island. I don’t know, what I do know is if I set up a “mid-life crisis fund” and save for 20 years that I’ll have 20 years worth of savings (I’ll most likely invest it for the 20 years not just leave it in a savings account) which regardless of what I spend it on will be a great deal of cash on hand.

5.5 Ways To Delay Spending Money on Vickie’s Kitchen And Garden

This was the first time I found this blog and I thourouly enjoyed it. Vickie talks about “no spend January” which is a concept I should probably start myself. She then goes on to explain ways to make it easier to do, such as staying home, and finding free things in the area to do. She seems to have it down as they will be paying for in cash their remodel this year due to the fact they are doing this no spend month.

My Week In Review

My week was fantastic, I worked hard and got a week ahead on my posts going out, even setting it up to go out well I’m doing other things. The blog has taken on a life of itself trying to produce good content. When I started I thought it would take 30 minutes to an hour to write an article. Truth is that the shortest article took around 2 hours to write, edit, and post.

Driving for Lyft finished strong making my goal of $100 a week which is going to be talked more about in a article coming out this Wednesday. I look forward to hearing your thoughts.

So how was your week? Did you reach your goal this week? Any blog articles I didn’t mention that you loved?

Image courtesy of Stuart Miles at FreeDigitalPhotos.net

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