Personal Finance Discussions Archive

The purpose of these posts is to encourage open discussion on personal finance topics outside budgeting and debt-repayment.

Key topics: side hustles, frugal living, life lessons, beliefs about money

Four beliefs about money that help me meet my financial goals

May 14, 2019

Four things I believe about money (and how they help me reach my financial goals)

In July 2018, I wrote a post talking about my junk financial beliefs.

The longer I spent on the debt-free journey, the more I believe most people have at least a couple garbage ideas about money.

But I’ve also learned this: it is possible to correct these beliefs and ideas — if you’re willing to acknowledge and learn from them.

About a year and a half into our debt-free journey, we have about $20K+ less debt. We’ve learned a lot along the way.

So today, I want to talk about the other side of the coin: my not-junk financial beliefs.

We don’t have pet insurance. Here’s what we do instead.

April 18, 2019

Why we skipped pet insurance and built an emergency fund for our cats

First, let me say this: I love our cats.

They are sweet and cute and funny and I absolutely adore them. Even when they’re knocking over the Christmas tree (Nala) or barfing on the floor (Lyla), I love them. I don’t regret adopting them for a single second.

But boy, if I have learned anything through the last few years of pet ownership, it’s this: pets can be freaking expensive.

From food ($58 for a big bag that lasts likes, three months), to litter (which we buy in bulk at Costco for $9), to all the random crap that cats use, we have spent a pretty penny on these little fur beasts over the years.

And that doesn’t even factor in the vet visits.

Pet owners will know that medical care is not cheap. Even just getting in for a check up or a standard round of vaccines can cost more than $100.

Some opt for pet insurance and I can totally see the logic.

We opted against it. Here’s why (and what we do instead).

My $10K+ smile: How to make dental care more accessible on a small budget

April 16, 2019

How to make dental care accessible when you have a small budget

Fun fact: I spent more on my teeth than I did on my university education.

It’s true. When it comes to out-of-pocket expense, my dental bills easily top my school bills.

Of course, this is largely the result of having a scholarship to cover tuition (and working all through my degree to cover other costs) but still. The fact that I can write a sentence like that is…something.

How did I end up with so many dental bills? And what on earth did I spent that kind of money on?

Let me tell you.

How to choose the best credit card for your financial situation

February 19, 2019

How to choose the best credit card for your lifestyle

(Editor’s Note: This post is part two of a three-part series about credit cards (for part one, click here ). Given the topic of these posts, I want to offer a disclaimer: I am not a financial expert. I am simply sharing what has worked with us. If you’re looking for actual advice on credit cards – or anything financial – I recommend speaking to an expert. Personal finance is personal, meaning what works for us might not work for you. Now, on to today’s post)

I didn’t put a lot of thought into choosing my first credit card. In fact, I didn’t put any thought into it at all.

Instead, I did what I am sure many 19 year olds do: filled out the first and only form the teller at the bank gave me and lied when I checked off the box stating I had read the terms and conditions.

I didn’t shop around for better rates, I didn’t take any time to consider the perks associated with the card and I sure didn’t ask any questions.

Writing that makes me cringe now but…I was 19, you know? Thankfully, I have learned a lot over the last 10 years.

In fall 2018, I started thinking about finding a card that could offer better perks. My trusty VISA had served me well over a decade of use, but I wondered if there might be a card out there that would offer a little more in terms of tangible benefits.

After spending some time thinking about what I wanted in a credit card, I started shopping around. Here are some of the things I kept in mind when trying to find the best credit card for my current lifestyle.

Why we went back to credit cards (without adding more debt)

February 12, 2019

(Editor’s Note: This post is part one of a three-part series about credit cards. Given the topic of these posts, I want to offer a disclaimer: I am not a financial expert. I am simply sharing what has worked with us. If you’re looking for actual advice on credit cards – or anything financial – I recommend speaking to an expert. Personal finance is personal, meaning what works for us might not work for you. Now, on to the post)

We use credit cards all the time.

There. Now you know.

Not that it was a secret. If you’ve been following along for a while, you know I don’t think credit cards are evil.

On the contrary: I have had a credit card for 10 years now and I have used it, regularly, for all of those years (I wrote about it here).

I have never accumulated large balances due to reckless spending. And I have never paid a cent of interest on a credit card.

Still, when we started our debt-free journey, one of the first changes I made was to shift to a cash budget. This is a popular piece of advice for those beginning the journey and there’s a reason for it: it’s a good idea! It’s especially good if you are struggling with credit card debt – ditching the cards means you don’t add any more to your outstanding balance. A cash budget is a great idea for most people working to pay off their debt.

But while we certainly saw some benefits, a year later, we’re back to swiping cards.

Here’s why.