Welcome to my November 2020 monthly update! I will be covering our debt, assets, and net worth and will provide graphs and charts since we starting tacking in April 2019 I also include how close we are to our goal of FI, which is $2.5 Million in savings with a paid off mortgage. I missed …
Author Archives: Jon J
Win Roulette Every Time with Employer Match
If your employer offers a match to your 401k/403b or equivalent, you should be taking advantage of this FREE MONEY. Imagine you are playing the game of roulette at a casino that is guaranteed to land on black every time. Would you place a bet on black? I don’t know about you, but I would …
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Keep an Emergency Fund to Stay Out of Debt
Debt is a viscous cycle. This is especially true if you have a lot of debt. Focusing on paying off debt is key to ending the cycle. However, if a new, surprise expense pops up out of no-where what can you do, other than pay for it with credit? If you’re up to your eyeballs …
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The Top 2 Ways to Prioritize Paying Off Debt
Paying off debt is one of the first things you should focus on before maximizing your savings in pursuit of financial independence. If you have a lot of different debts, what order should you pay them off? This questions has left many borrowers scratching their heads, however the large consensus agrees with 2 different approaches- …
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The Best Health Insurance to Prepare for Financial Independence – 3 Tax Advantaged Reasons HSAs Always Win
As medical and health insurance costs in the United States continue to rise, it is important to have a plan on what health insurance plan is right for you on your way to FIRE, while you’re still employed. Types of Health Insurance Plans in the USA POS- Point of Service No referrals required to see …
Do You Really Need a Brand New Car?
No. A brand new car is a nice luxury that most yearn for, including myself. I can easily finance a new car, but since my focus is to be financially independent, I will not. What does a brand new car cost you? If you can pay cash, which you should if you can afford it …
Be Frugal-er 23 Ways to Reduce Your Essential Expenses
Essential expenses include things such as mortgage/rent, heating, power, water, transportation, insurance, etc. Essential expenses are probably the bulk of your outgoing cash each month, likely making up 70-80% of your total expenses. Focusing on reducing this portion of your expenses will typically yield you a bigger bang for your buck, unlike smaller expenses like …
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Cooking with FIRE. 15 ways to reduce your grocery budget
Groceries budgets can vary vastly depending on the type of food you purchase. If you are looking to reduce this budget item, you might be surprised how easy you can lower it. I budget $350/month for 2 adults for our groceries and most of the time, we are under budget. Cutting your grocery bill in …
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How ReFinancing Can Help You FIRE
Refinancing your mortgage is a quick way to save extra cash through interest savings. You can also benefit from a lower payment as well, allowing to save more money each month. How much can refinancing really save you? Your savings could be ten of thousands of dollars throughout the life of your loan. Here’s a …
20 Ways to Make Extra Cash – Get to Financial Independence Faster
Making extra cash is a fantastic way to increase your savings rate. If your goal is to retire early, why not spend some of your time getting more cash to invest? For Mrs. FFR and I, we budget monthly based on our income from our full time jobs. Any extra money we make through side-hustles, …
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Financial Free Runner 