My goal is to be financial free by the age of 50. As I have mentioned sometime back, I was a real spendtrift. I maxed all my credit card, took personal loans and so on. But after reading great books like Rick Dad Poor Dad, Richest Man in Babylon and the Wealthy Barber. I am on my way to be being debt free. I have recently cleared my car loan and 3 credit cards. But I still like reading articles on what others are doing towards being financial free. Here's someone who did it at a very young of 30.
How I Went From $40,000 in Debt to a Millionaire by Age 30
I came from a family where money was always an issue. My father was a union electrician who brought in a nice, but not exceptional, living. My mom was a stay at-home mom turned jobbie-entrepreneur (as I talked about here). But, money was always tight.
When my parents separated in my early teen years (and ultimately divorced), that put further pressure on their financials and assured that they wouldn’t be able to pay for my college education.
When I graduated from arguably the best undergraduate business school in the country, The Wharton School of Business at the University of Pennsylvania in 1995, I had an Ivy League education and $40,000 of college debt. I was determined that in less than eight years, I would go from being in that financial hole to having a net worth of one million dollars.
Read More Here. How I Went From $40,000 in Debt to a Millionaire by Age 30
Most of us have at one time or another, had days when everything seem to go bad and nothing seems to be going right. You've lost your job, had a divorce, your business failed, you had just lost a spouse and so on and so on. As humans we have a choice, we can lie down and lick our wounds or fight back. I have been in that path before. With all the bad news highlighted in the media these days, its hard not to be depressed. So you need to constantly read these materials.
Showing posts with label debt free. Show all posts
Showing posts with label debt free. Show all posts
Saturday, March 5, 2016
Saturday, January 16, 2016
Being Financial Free - A man who retired comfortably at age 30 explains how much money he had to save.
I have finally cleared 3 out of my four credit cards. I cleared almost RM25,000 in 4 years. I was a real spendtrift. But reading great books like Rich Dad Poor Dad, Richest Man in Babylon and the Wealthy Barber. I made a pact with my self to be financial free. The road was hard, there were temptations along the way but I pulled through with the help from my loving and understanding wife. I have even paid up my housing loan using my Employee Providence Fund. Something I only found out that I could do recently. Well I might not stop working or retire early as I love being in the Food and Beverage Business but I will be financially free. Here is in article on Business Insider on how much money you need to save to be financial free.
That was in 2005, right before Mr. Money Mustache’s 31st birthday.
“This was achieved not through luck or amazing skill,” he emphasized to Farnoosh Torabi on episode 38 of “So Money,” her personal finance podcast. “But simply by living a lifestyle about 50% less expensive than most of our peers and investing the surplus in very boring, conservative Vanguard index funds and a rental house or two.”
Mr. Money Mustache clearly figured something out — and he shares tips and strategies on his personal blog — but just how much sacrifice did it take to set himself up for such an early retirement? How much of his and his wife’s combined $134,000 salary was going to savings?
“I saved about two-thirds of our take home pay,” he told Torabi.
Read more at A man who retired comfortably at age 30 explains how much money he had to save
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A man who retired comfortably at age 30 explains how much money he had to save
After a mere 10 years of working as software engineers, Peter Adeney (better known as “Mr. Money Mustache”) and his wife Simi had enough money to retire comfortably and debt-free.That was in 2005, right before Mr. Money Mustache’s 31st birthday.
“This was achieved not through luck or amazing skill,” he emphasized to Farnoosh Torabi on episode 38 of “So Money,” her personal finance podcast. “But simply by living a lifestyle about 50% less expensive than most of our peers and investing the surplus in very boring, conservative Vanguard index funds and a rental house or two.”
Mr. Money Mustache clearly figured something out — and he shares tips and strategies on his personal blog — but just how much sacrifice did it take to set himself up for such an early retirement? How much of his and his wife’s combined $134,000 salary was going to savings?
“I saved about two-thirds of our take home pay,” he told Torabi.
Read more at A man who retired comfortably at age 30 explains how much money he had to save
What Lies in your Debt? It pays to know
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Get Rid Of Your Credit Card Debt, Clean Up Your Credit, And Make Debt Collectors Go Away? And Make Money Doing It! Our members actually make money using our process while not paying big bucks for a process that just doesn’t work! Rip off artists are abundant in these economic times. Just check Google and states’ attorneys' offices, con artists without a conscience are plaguing struggling home owners or people who are having hard times. Take control yourself and don't count on anyone to get you through the tough times. Our proven system will show you how to keep the banks and debt collectors at bay while making them pay you every time they break the law!

Thursday, August 27, 2015
A review on my Favourite Expense Tracker App
Track your Daily Expenses with Spending Tracker App for Android
I began tracking my expenses a few years ago. My salary was increasing yearly with the yearly increment as well as promotions. But I was facing the same situation at the end of every month. The balance by the end of each was the same as before my increment. Even though there was no change in my monthly fixed expenses. After tracking my daily expenses, I discovered what was eating my money. My little coffee breaks at the little coffee shop nearby. It was taking a big chunk of my personal income combined with my lunch breaks there. It was not a necessary expense. As the company where I was working, provided breakfast and lunch free of charge. I still track my daily expenses at the moment. As there might be some unnecessary expenses in.
I used to use a notebook, but it always got lost. After switching to android operating system phone, I tried many expense tracking apps. Recently I found an excellent known as "Spending Tracker". This app is simple to use.
The first page is "Spending". Here you can get an overview of your expenses by categories and also your balance. There are also two buttons that you can input your expenses and income.
The 2nd page will be the "Transaction" page. Here you will see all your transaction starting the recent expense. They have even add a filter button, here you'll be able to select the category you want to see. And you will see each transaction in each category. You can also add your own category. I have 4 categories for each associated with my kids as well as wife.
The third page is the "Categories" page. Here you can see all your categories.
This app is so easy too use and is helpful if you need to track where all your money went.
You can get from the Google Play Store. For more information, click here Spending Tracker @ Google Playstore
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