What’s plot got to do with personal finance? Everyone’s financial journey resembles a story arc, complete with plot twists, plot holes, drama, and conflict. We’ve gone through how to start earning money, and some tips for that. And there was a post on building net-worth, and the steps in accomplishing that. Now we’re going to talk about retirement, and how to figure out where that climax of your financial story arc is.
There’s a lot of different resources out there dedicated to telling you what kind of credit card would be the best kind of credit card for you. And there’s also a lot of people who have different opinions on them – but I think most personal finance bloggers I know agree on this principle:
Take advantage of credit card points and savings, but only if you’re going to use your credit cards like a debit card.
That means, at the end of every billing cycling, you pay off the entire balance of your credit card, no exceptions.
I’ve travelled a lot. For school, for work, briefly for a relationship, and sometimes for pleasure. And some of those occurred during awful, and physically difficult times.
This foot happened 2-weeks into my 8-week trip across Europe; first four weeks backpacking alone, and then four weeks with my family in Poland. I got the aircast in Poland, and the two weeks before that air-cast were the most painful, challenging, and difficult weeks of my life (because of more than just the foot). I call it my Euro-Trip from Hell for a reason.
But there were some things that I found invaluable while I was over there, and I have used / continue to use.
Okay, so you’ve figured out the first part of your financial story arc – earning money. Now what?
Step 2 is, you gotta build some net-worth. How do you do that? There’s five things I always consider when I’m thinking about building net-worth:
We made Rice Krispie square bars this week, and despite my Mum’s claims that I was being ridiculous, I pulled out the weighing-thing, and did some number-crunching for you folks. They’re not at all healthy (though they are amazingly delicious) – and they’re lighter on the wallet than I thought!
let the mathing commence
“If we assume the debts, the union gets a new line of credit –
a financial diuretic. How do you not get it?
If we’re aggressive and competitive, the union gets a boost.
You’d rather give it a sedative?”
– Cabinet Battle #1, Hamilton OBC
if you don’t have it yet, get it! – this is an affiliate link to Amazon
What’s Alexander Hamilton talking about here? Consolidating debt, and how that would benefit the union (aka you, if this was a metaphor).
Part 1 of Your Financial Story Arc: Earning Money
Your finances mimic the rise and fall of a story arc – exposition becomes earning money, rising action becomes building net-worth, the climax is your retirement, the falling action is retirement withdrawals, and the conclusion, is, well, death.
financial story arc to the rescue!
Since the initial post on this didn’t really delve into the topics in detail, I’m publishing a four-part series to tackle the concepts in greater depth.
I’ve spent the past four days this weekend on vacation, indulging in gluttony, enjoying some delicious, new-to-me food (first official taco – checkmark!) – and so I figured, what can I post about, other than how I counter the act of stuffing myself. So, here goes!
The raggedly rich way to exercise on a budget is to be honest with yourself about what you’d like to do, what you’re going to do, and how you can afford to do it. I find exercise to be key in staying healthy and happy, and you can definitely do it on a budget. My go to’s are: ice hockey, yoga / stretching, and hiking.