In 2015, I happened across the Financial Independence Retire Early (FIRE) movement. I wasn’t actively looking for direction in our financial life, but I had been living with a vague discomfort that we could be doing more. FIRE galvanised me to once again take control of our money. In 2016 we tracked spending, and saved an emergency fund. The next step was beginning to invest – but how? The idea of investing was scary. There are so many options, traps and pitfalls for the unwary that I wanted to be fully prepared before we started. This series of posts is about the resources we used, and the steps we took ... Show Me More!
Since I discovered Financial Independence blogs, I have begun to seriously consider and research how I can put our money to work for our future. All I wanted to do is get to the point where I could start investing. We finally have an emergency fund, along with three months of living expenses fully funded, so it’s time. However, late in 2016, I read a post by Kayla Sloan detailing ways you can start investing with a small amount of money, and that gave me pause. Am I already an investor? Having recorded where our money goes since January 2016, then performed an end-of-year analysis, I realised we were already participating in some of Kayla’s suggestions. So why ... Show Me More!
I love seeing how other people budget, getting down to the nitty-gritty of their categories and numbers, but I don’t feel it is fair to gain value out of what others are contributing without contributing something ourselves. As promised, here is the eighth and final Budget Breakdown for the Enough Time Machine. This represents how much we budget per month, not necessarily how much we spend. In this concluding week we are looking at Savings and Investment. Savings vs. Investment The way that I allocate money to our savings/investment buckets is by thinking of them in terms of timeframe and known spending. Savings are for particular, identified items, and the money is to be spent as soon as ... Show Me More!