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Monday, 27 February 2017

You have no money here

When I first started saving the best trick I ever pulled on myself was to simply have no money.

ring ring
"Hey Dad, how's work going?"
"Good, what do you need?"
"Can't I just call because I want to talk"
"Generally not, we do that when I get home, so what do you need?"
"Okay, you're on to me, I'm a bit short on cash, can you transfer some money over for me?"
"No worries, how much do you need?"

Thursday, 23 February 2017

I just shredded my first credit card...

...so I could open more!

I've been slowly trying out the world of travel hacking. I started last year with a small, not fee credit card and scored 10,000 Velocity points. Now I'm juggling three credit cards, with an expected return of more than 230% value.

Saturday, 18 February 2017

Sudden (tiny) windfalls

I just scored a couple of tiny leg-ups towards my $20,000 by July goal. My tax variation went through, and my interest rate on my loan has dropped meaning my required repayments have also dropped. Naturally I'm headed straight to the shops for new shoes!

Tuesday, 14 February 2017

The Latte Equation

A favourite of frugality and finance bloggers is the Latte Equation. You can't throw a stone without hitting it, whether it's people saying to ignore the Latte Equation and focus on the big savings, or people talking about whether that $4 a day savings is the basis of a good financial habit, everyone has an opinion. Here's some of my favourite ways to calculate the Latte Equation.

Saturday, 11 February 2017

The retirement income myth

Something that endlessly frustrates me about commercial financial planners and retirement gurus is the dodgy maths that they pull. It goes something like this:

"Hello! Welcome! How many of you are prepared for retirement? Did you know that if your combined household income is $100,000, then your after tax pay is roughly $85,000. Do you know how big your investment portfolio needs to be to support an $85,000 income? At least $2 MILLION!! Now let me do some quick maths to show you how you could never save your way to $2 million and you need my special product I'm selling!"

bzzzt, wait, hang on, back that up a second.

Tuesday, 7 February 2017

I'm buying free time

I've been called some uncomplimentary things, some in jest, some a little more viciously. The worst experience was having a good friend constantly calling me cheap in that joking-not-joking voice. I'm constantly having to remind myself that I'm not squirreling money away so I can fall asleep on a bed of cash. I'm simply buying back my free time.

Friday, 3 February 2017

Cheaper than Chips!

I am pretty much permanently hangry. I love food. I also love working out, so I'm that person you see constantly eating but skinnier than a rake. Sorry not sorry, because I'm also that person doing 60+ push-ups / crunches and over an hour of cardio each day. You just don't see that part. But all this exercise and my young-person metabolism means I'm always hungry. And a quick trip to the vending machine every day could easily cost more $20+ a week.

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