The Practical Saver Great Weekly Reads #4 is my weekly roundup of blog posts I found eye-opening interesting, and valuable. I believe the lessons from these posts will help you, the readers, in fulfilling your pursuits you have in life. Please let me know if you have articles you think are worthy of being included in The Practical Saver Great Reads.
Great Weekly Reads #4
How I Walked Away from A $200,000 A Year Dream Job – InvestmentZen
For many, working in one of the juggernaut companies and getting a hefty salary are a dream come. Sounds like a job to keep? Not necessarily and not for the author of this post.
The author decided to quit the job and start a new phase, that is, to live the life on the author’s terms, travel the world, come and go as the author pleases, among others. The author provided compelling reasons for quitting and becoming free from the day-to-day monotonous life of a day job.
What’s Good? – Michelle Malone
This is the first blog post I read from Michelle Malone, the author. I have to say that her post is simple but moving.
In my own interpretation, her post is about the changes that people need to do. She indicated that today is a good day to make changes in our lives. I believe that today is a chance to do better than yesterday. That today should be the day to do your best because tomorrow never promises us anything and yesterday should be a lesson for us to do better today.
So, how does this fit with finance? The lesson to be learned here is that we need to learn from our financial mistakes in the past and do well today because we don’t know if tomorrow will be financially good or bad for us. We can predict our future but, then again, it’s all prediction not a reality. Today is what we have and we should make the best out of it.
Personal Finance & The Lion King – Nurse on Fire
I don’t know of anybody who didn’t like Disney movies or shows when they were young. Nurse on Fire clearly knows how to link his favorite Disney Movie “The Lion King” to personal finance.
The author indicated that he noticed philosophical aspects of dialogues in the movie and realized that a couple of lesson can be applied to the personal finance realm.
I knew that Disney movies have always had these built-in lessons that anybody can use in their lives. I just didn’t realize, until now, that these lessons can be financially related by nature. When I finished reading his post, I knew that I had to create a post similar to his and that I would use my favorite Disney movie, that is, Aladdin.
Do You Spend, Save or Invest ‘Extra’ Money? – The personal Economist
How do you use or allocate your extra money? Do you put it towards a specific expense? Or do you just combine all income (passive or regular) and just allocate the money among your expenses? The personal Economist provides rationale why it makes sense to allocate extra money to specific expenses. The author also points out that combining all incomes make complete sense as well.
I used to separately track and use different income sources to specific expenses. It did get confusing. As a result, my wife and I combined all incomes into one account. For me, income is income. Regardless of where it comes from, it goes into the family. It goes out to pay for expenses and some of it is retained for savings and investments.
How We Foresee Cash for Future Plans – Amber Tree Leaves
So, you have an emergency fund created and well-funded for rainy days. Kudos to you. You need a laptop or want to travel, where do you get the money? Do you fork it out of your emergency fund? You’ll be surprised just how a lot of people take money from their emergency funds to pay for these discretionary expenses.
Ambertreeleaves’ solution is medium term savings fund. The author indicates that it both makes and doesn’t make sense (paraphrasing here) and I agree with him. According to him, the savings fund, which is in the form of cash), could potentially grown if invested in the stock market. Or it could go down south, as well.
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