How Much Should You Be Saving?

How Much Should You Be Saving?

Financial Independence, Savings
Break It Down Monthly There's a variety of different rules and savings structures out there. Two very common saving allocations are the 50/30/20 rule and the 80/20 rule. The 50/30/20 rule advocates for utilizing 50 percent of your post-tax income towards addressing all of your necessities. This will include everything from rent, groceries, utilities, etc. 30 percent of your income will be diverted towards extra desires-dining out, entertainment, date nights, and the like. 20 percent of the rest of your income will be pushed into savings and investment accounts. The 80/20 rule is simply having 20 percent of your post-tax income be directed towards savings and 80 percent will be used for all of your other spending needs. In the spirit of aggressively saving/investing towards reaching financial independence at an…
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How To Spend Like A Millionaire

How To Spend Like A Millionaire

Financial Independence, Money Management
What are you imagining? Exuberant amounts of cash flying through the air in the club or money covered champagne bottles being passed around a yacht?     It may shock you to find that the modern-day millionaire are the most frugal. Lebron James, a multi-millionaire athlete and businessman, regularly gets jabs thrown his way by his friends for being so frugally minded despite having a net worth of $400 million dollars. "I still got Pandora with commercials."  While it may be extreme to some, I find the discipline admirable. And, discipline coupled with strong habits are what have built up a large number of millionaires. Through a 5-year study conducted by Thomas Corley on millionaires and their daily habits, we now have insight into the inner day-to-day workings of what…
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Get Started With The Personal Finance Basics

Get Started With The Personal Finance Basics

Basics, Financial Independence
You Are Already Further Than Before Getting started in your personal finance journey is overwhelming. Everyone felt the same way the first time diving into their journey. It feels great to keep in mind you are already miles ahead of where you were before just by being here and doing your own research! Personal finance involves juggling so many different areas of your life. Budgeting, saving, investing, planning for the future, enjoying the present, it really is a do-or-die skills for your quality of life.   Budgeting Everyone recognizes the need for a great budgeting system. Budgeting is the most basic level of personal finance and building a proper budget is crucial to the foundation of your financial growth. I recommend tracking all of your incomes and expenses. Categorize your…
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Why Should You Pursue Financial Independence?

Why Should You Pursue Financial Independence?

Financial Independence
You Are Born A Human Being Wherever your origin point in life is, you were born a human being. You were not born to be a slave to capitalistic tendencies. You were not born to constantly live paycheck to paycheck. You were not born to mindlessly drift through life without pausing to reflect on what it is you truly want for yourself. There are plenty of Americans, people in general I should say if you are reading from outside the States, that make exuberant amounts of money. Unsurprisingly, some of these people are still living their lives paycheck to paycheck, in constant pressure of the financial life they have chosen, despite making 500k a year. In contrast to that, there are plenty of people and households that make 50k a year and…
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Setting the Financial Foundation

Setting the Financial Foundation

Basics, Financial Independence, Money Management
Understanding that some people simply don't have the time to absorb copious amounts of information and granular detail at once, I felt it best to start off with a series focused on the Basics. Working in sales, there are a number of obstacles that have to be overcome in order to see a deal go through completion. To make life easier for yourself and your team requires some foresight and perception about potential obstacles down the road. The more obstacles you can remove for yourself early on, the more likely you will find success with less burnout and stress. I find this directly applicable to approaching one's personal finances. It sounds simple, but simple is often underrated. The very first thing you should do is define your goals.   Clarify What…
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