The Money Rundown – January 19, 2019

The Money Rundown – January 19, 2019

Welcome to my first Money Rundown on the blog!

I’ve been sharing these weekly curated lists privately with my subscribers, but I think I can help more people if I share them as weekly posts on the blog.

My goal is to help as many of you as I can take control of your lives by providing quality content that helps you improve your finances.

The posts will be collections of articles and other content I’ve enjoyed over the week and think you’ll find beneficial. I love reading new content, so please feel free to share anything interesting you come across with me via email or on Twitter.

Shout out to Scott from Making Momentum and PoF from Physician on FIRE for inspiring me to try this!

Now on to the Money Rundown for this week.

Great content from the interwebs

The Road to Burnout Helped Me Find My Purpose (The Physician Philosopher)

TPP hit the nail on the head with this post. It really hit home, and after I read it, I immediately sent it to Mr. TMG and friends who are residents or recent graduates.

I especially like this quote: “In an attempt to improve our happiness, we buy the house, cars, and private school educations that are befitting of a doctor. Unfortunately, these things do not provide happiness—and often act more like water placed on a grease fire.”

Woo! That applies to many of us in life, not just doctors. We often use retail therapy to cover up our pain or unhappiness. SO good.

Exactly How I Saved 72% of My Middle Class Income (Bravely)

I’m highly impressed with Kara’s ability to save so much. She’s definitely about her business when it comes to saving. People who make twice as much as she makes typically don’t save at nearly the same rate!

She admits that her lifestyle isn’t for everyone, but this post still gives plenty of tips that you can implement in your own life to increase your savings rate. Try the things you like and leave the rest.

How I Cut College Tuition Costs by 50%! (Brad Rosley)

Wondering how you’re going to pay the astronomical costs of higher education? Brad has a genius tip to help you cut college costs in half.

If only I had known this when I was in school. Could have saved tens of thousands of dollars. Sheesh…

Success Is Not Measured By Income (Dr. Cory S. Fawcett)

Although Cory writes about doctors, this post could have easily been about lawyers, or any other professionals who delay their full earning potential while training. Once they finally begin making money, the inclination is to spend it all because they “deserve” it after sacrificing for so long.

Having a high income means nothing if you spend it all. It’s not how much you make that makes you wealthy but how much you keep.

How to Be Frugal Without Depriving Yourself (Fly to FI)

For many people, the word “frugality” immediately brings to mind a life of deprivation. They write off frugal living because they assume it requires a high level of sacrifice that they can’t commit to.

In this post, Cody explains how he practices frugality while still living a full life, complete with extensive travel. He has saved thousands of dollars with his tips.

The Personal Side of Finance (Ms. Fiology)

In this introspective piece, Deanna highlights the importance of following our own paths in our financial journeys and how truly personal our journeys are.

Most others wouldn’t take the action she did because of the potential that others would judge. I commend her for living her truth and being the person she is called to be in Christ.

The latest from Their Money Goals

You know I’m a big fan of the debt snowball method, but I’m an equal opportunity debt slayer.

For you math nerds out there who are concerned about the interest paid in the debt snowball method, check out my latest post here:

How to Pay Off Debt Using the Debt Avalanche Method

Quote of the week

“Action may not always bring happiness; but there is no happiness without action.” — Benjamin Disraeli

That’s it for this week. What did you think of these posts? Anything interesting you came across this week that I should read? 

If you liked this post, don’t forget to (1) share it with everyone you know and (2) connect with me on Pinterest and Twitter.  See you there!

Posted by Rho in Money Rundown, 2 comments
How to Pay Off Debt Using the Debt Avalanche Method

How to Pay Off Debt Using the Debt Avalanche Method

The two most popular ways of paying off debt are the debt snowball and debt avalanche methods. (Don’t ask me why they both reference snow.)

As I mentioned here, Mr. TMG and I are using the debt snowball method, which I believe is the best way to pay off debt.

With the debt snowball, you pay off your debts smallest to largest, regardless of interest rates. As each debt is knocked out, you roll the minimum payment into the payment for the next highest debt. The quick wins of paying off your smallest debts motivate you to keep going.

The debt avalanche method, in contrast, orders your debts from highest interest rate to lowest interest rate, regardless of balance. If we’re looking strictly at the math, the debt avalanche should help you pay your debt off more quickly and save you more money on interest. Continue reading →

Posted by Rho in Pay Off Debt, 0 comments
27 Tips to Save Money When You Have a Baby

27 Tips to Save Money When You Have a Baby

Having your first baby is such an exciting time, but it can be stressful.

You have no idea what to expect. You’re about to be responsible for a whole human and don’t want to mess up.

Plus, everyone keeps talking about how expensive babies are.

I know how you feel. I remember feeling the same way when Mr. TMG and I were expecting Little TMG back in 2016.

Babies aren’t nearly as expensive as reports make them out to be. Don’t get me wrong—you’re going to spend more. But there are ways to save money when you have a baby, too. Continue reading →

Posted by Rho in Save Money, 0 comments
December 2018 Debt Payoff Update: $10,010.69 Paid

December 2018 Debt Payoff Update: $10,010.69 Paid

Welcome to my debt payoff update for December 2018! In these updates, I detail our progress on our debt payments for the month and highlight any updates in our financial situation.

I started this site to hold Mr. TMG and me accountable in our debt payoff journey. I also want to inspire and encourage others who are in debt (especially if you owe six figures like we do) by showing everyone that debt doesn’t have to be forever.

Whatever your numbers, I hope you find some inspiration in our story.

Let’s get to it! Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 0 comments
November 2018 Debt Payoff Update: $10,399.17 Paid

November 2018 Debt Payoff Update: $10,399.17 Paid

Welcome to my debt payoff update for November 2018! In these updates, I detail our progress on our debt payments for the month and highlight any updates in our financial situation.

I started this site to hold Mr. TMG and me accountable in our debt payoff journey. I also want to inspire and encourage others who are in debt (especially if you owe six figures like we do) by showing everyone that debt doesn’t have to be forever.

Whatever your numbers, I hope you find some inspiration in our story.

Let’s get to it! Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 0 comments
October 2018 Debt Payoff Update: $8,010.47 Paid

October 2018 Debt Payoff Update: $8,010.47 Paid

Welcome to my debt payoff update for October 2018! In these updates, I detail our progress on our debt payments for the month and highlight any other updates in our financial situation.

I started this site to hold Mr. TMG and me accountable in our debt payoff journey. I also want to inspire and encourage others who are in debt (especially if you owe six figures like we do) by showing everyone that debt doesn’t have to be forever.

Whatever your numbers, I hope you find some inspiration in our story.

Let’s get to it! Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 0 comments
September 2018 Debt Payoff Update: $9,488.99 Paid

September 2018 Debt Payoff Update: $9,488.99 Paid

Welcome to my debt payoff update for September 2018! In these updates, I detail our progress on our debt payments for the month and highlight any updates in our financial situation.

I started this site to hold Mr. TMG and me accountable in our debt payoff journey. I also want to inspire and encourage others who are in debt (especially if you owe six figures like we do) by showing everyone that debt doesn’t have to be forever.

Whatever your numbers, I hope you find some inspiration in our story.

Let’s get to it! Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 0 comments
June, July, and August 2018 Debt Payoff Update: $29,015.09 Paid

June, July, and August 2018 Debt Payoff Update: $29,015.09 Paid

Hey peeps! Here’s a quick update on our debt payoff but first a brief look at what’s been going on in my life the last 3 months and why I’ve been MIA. To skip straight to the debt payoff update, click here.

I almost quit my job

My team at work has lost a lot of associates over the past year. As each one left, their work got redistributed among those of us who are still there.

At first, it was fine. I was billing more, but I felt like I could get all of the work done.

It got to the point, though, that I was billing nearly 200 hours a month and not getting everything done. To put things in perspective, our team has a rubric for how busy you are. You’re “moderate” if you’re billing 160 to 174. You’re “busy” if you’re billing 175 to 189. You’re “slammed” if you’re billing 190+. Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 0 comments
May 2018 Debt Payoff Update: $4,445.36 Paid

May 2018 Debt Payoff Update: $4,445.36 Paid

Welcome to my debt payoff update for May 2018! In these updates, I detail how much debt we paid off, tell you about any extra income we received during the month, and finally tally where we stand.

I started this site to hold Mr. TMG and me accountable in our debt payoff journey. I also want to inspire and encourage others who are in debt (especially if you owe six figures like we do) by showing everyone that debt doesn’t have to be forever.

Whatever your numbers, I hope you find some inspiration in our story.

Let’s get to it! Continue reading →

Posted by Rho in Debt Payoff Updates, Pay Off Debt, 2 comments
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