Money

  1. Money is like oxygen: you need it to breath
  2. It's important to have a rainy day fund
  3. I think it is important to talk with each other about money. https://thefinancialdiet.com/ leads the way.
  4. Yes, the love of money is a root of all evil. And it's important that we team up so having a rainy day fund is more important than having a fancy car...
  5. My favorite way of saving/investng is The Simple Path to Wealth
  6. I'm inspired by Vicki Robin's Your Money or your Life
  7. Dave Ramsey's Financial Peace University should be taken by every couple. Or something like it.
  8. Adam's https://minafi.com/ is great! Please work through his Interactive Guide to Financial Independence
  9. YNAB - You Need a Budget is a very handy utility. It's crippled because there are no backups or change control.
  10. PlainTextAccounting.org intrests me, and I have not started practicing it, yet.

TFD's 20 Point Checklist for getting good with Money

I really like this video! The title contains "in your 20s" but IMHO this qualifier is not needed because the list works for all adults.

Thanks to Helena Durst for this great high level recap she posted in the video's comments.

  1. Analyze your purchases, start to understand your money
  2. Create a current budget, understand where you are
  3. Identify your goals in life
  4. Create a goal budget (50/30/20 rule)
  5. Get to know your credit score
  6. Find a financial buddy to help you on your journey
  7. Start working on your emergency fund (be able to live off that fund for 3 months)
  8. Do a 1 month financial cleanse (go on a radical budget, eg 50% of your income)
  9. Know your professional industry and how to advance in it
  10. Set up an additional stream of income (babysitting, dogwalking to investment and real estate), dont be dependent on one stream of income (your regular job)
  11. Get over your fear of credit cards and get comfortable with them
  12. Make your bank accounts as smart as possible
  13. Learn to speak the language of money
  14. Set up at least one retirement account
  15. Write out your 5 year strategy for getting what you are worth at work
  16. Work on 1 major money hang-up (dont feel shame about your money issues)
  17. Set up regular money check-ins
  18. Refresh your budget at least once a year
  19. Create monthly spending challenges
  20. Consider working with a professional (certified financial planners, accountants)

Your Money or your life

From https://yourmoneyoryourlife.com/book-summary/

Ask yourself these questions:

  1. Do you have enough money?
  2. Are you spending enough time with family and friends?
  3. Do you come home from your job full of life?
  4. Do you have time to participate in things you believe are worthwhile?
  5. If you were laid off from your job, would you see it as an opportunity?
  6. Are you satisfied with the contribution you have made to the world?
  7. Are you at peace with money?
  8. Does your job reflect your values?
  9. Do you have enough savings to see you through six months of normal living expenses?
  10. Is your life whole? Do all the pieces — your job, your expenditures, your relationships, your values — fit together?

FI

  1. http://aymeric.gaurat.net/2011/free-financial-independence-spreadsheet/

Informative & Well done videos

  1. The Truth About FIRE - Is Early Retirement Actually Possible?

Tags: money, tools

← Back home