It may seem paradoxical, but at some point in your journey to improve your finances, you have to stop doing something that, at least initially, is very important.
You have to stop saving your money.
There comes a point, typically after you’ve established an adequate emergency fund, where you actually have to stop saving your money and instead do something different with it.
You need to take the next step towards financial independence by investing your excess savings.
Continue readingIt’s official. Mrs. NMW and I are now outnumbered in the NMW household.
We recently welcomed our third child into the world, this time a baby girl. It was exciting, scary, and vaguely familiar all at the same time.
Our first two children are both boys, born a year and a half apart. Our oldest was probably one of the easiest babies we could have asked for. So, not long after he was born, we thought, why not try to have another? We were younger and more naive then so this seemed like a sound decision at the time.
Then we experienced what it is like to have toddlers. And that is why there is a three and half year gap between our second child and our new baby NMW. 🙂
Continue readingIf you’re just starting out with trying to improve your finances, you might feel overwhelmed with all of the choices you need to make. Should you save? Should you pay down debt? Should you invest? How should you invest?
It’s true, there are a lot of choices to make and there is a reason they call it “personal” finance not “one-size-fits-all” finance.
But fear not, even if your situation is vastly different than mine there are rules of thumb that can help cut down on a lot of the complexity and allow you to begin the process of moving forward.
Continue readingNo matter where you are on your path to improve your financial (and overall life) situation, one of the most important things you can do is to take the time to pause and reflect on everything you have to be thankful for.
Continue readingBeing a better Dad is simple.
But simple is not necessarily the same as easy. It’s a lot of work to be a Dad, or any parent for that matter. In fact, although I’ll say “Dad” throughout this post, the advice applies universally to any parent.
Continue readingPart of the reason I started this blog is I wanted to be a source of inspiration for people that are looking to achieve financial independence for themselves. I can remember back to when I first discovered FIRE when I would read every blog on the subject that I possibly could. I was hooked, and I enjoyed reading about different perspectives and experiences related to financial independence.
Continue readingI’ve written recently about trade-offs related to expenses and about the “average” American household’s expenses, but what about the NMW household’s expenses?
Continue readingToday, I’d like to introduce you to a friend of mine, named Average Abe. Average Abe is kind of like Honest Abe except he’s completely unremarkable in every way (because he’s average) and he’s too polite to tell me that we’re not really friends, which makes him a liar (and therefore not Honest).
Continue readingWhether we realize it or not, life is full of trade-offs. No matter how badly we want to have it all, we simply can’t have everything that we want. You might already be familiar with this concept. It’s called “having your cake and eating it too.” To put it another way, you can’t have two good things that don’t normally go together at the same time, like eating a cake and then continuing to possess that same cake so you can eat later.
Continue readingThe concept of Financial Independence Retire Early, or FIRE for short, has been around for a long time. When did it start exactly? That’s impossible to say but if I had to guess, I would venture that almost as soon as people started trading freedom for security and comfort there was some disgruntled guy or gal who thought to themselves “wouldn’t it be nice if I had the financial resources to retire early and do whatever I wanted instead of doing this every day?”
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