Personal Finance Links

I haven’t posted some good articles in a while, so I thought it was time.  I wanted to share some interesting articles I’ve read lately with all of you, with my thoughts about them.  Enjoy!

  • YNAB has a great post talking about why you might still add debt to your credit card when first starting out with a budget.  It’s more important to continue using the budget than to try to change all your spending habits right away.  That’s just a guaranteed way to quit using the budget.  They do a great job of explaining that, so take a look.  Here’s an update on that post as well, with a great explanation from a financial “coach”.
  • Mr Money Mustache talks about spenders vs savers.  It’s a great article on the different mindsets between people who spend money and people who save.  I lean more toward the saver side, but do still have some tendencies toward spenders.  I’d like to think that as people grow wiser, they tend to move more toward the savers side.  I try to, but still have plenty of room for improvement.
  • Afford Anything explains that all countries aren’t fueled by debt.  She goes on to explain  that you should be careful about taking out a loan for items most people consider normal (such as a car).  I agree with pretty much everything she says in this article, especially about using debt for leverage.
  • I wanted to put this out out there because I don’t agree with it. 🙂  Trent over at The Simple Dollar talks about comparing costs between new and used cars.  He completely missed the maintenance aspect though.  The problems that develop on a car that’s under 5 years old is essentially non-existent.  The older the vehicle gets, the more parts that fail and need to be replaced.  This is not counting regular, routine maintenance, such as changing the oil and wiper blades, filling up fluids, etc.  The expensive part of car maintenance happens when you need to start replacing parts, such as CV joints failing, spark plugs needing to be replaced, changing the timing belt, etc.  Those happen as the car ages, not when it’s new.  Newer cars have higher insurance rates, but less replacing of parts.  Older cars have cheaper insurance, but you’re paying even more in parts (and labor if you don’t do the work yourself) that need replacing due to age/miles.

Christmas Budget/Personal Finance Links

Well, it’s September.  If you followed my earlier post about creating a Christmas budget, you should have 75% of it filled up.  If you still haven’t started, add up how much you spent on Christmas last year, divide it by 4, and save that every month.  You still have time if you start right now, but it gets harder every month.

 Here’s some personal finance links I’ve read over the past few months that I wanted to share with you:

  • I’ve been driving my manual transmission, 1997 Honda Civic different since reading this article from Mr. Money Mustache about hypermiling, and have gotten a few more mpg since that time.
  • I’ve always thought about social capital, but never new it had a name.  J.D. Roth explains it.  I always try to help others whenever I can, and it has the added benefit of others being there when you need them.  I remember after we first moved to our new neighborhood and I watered my neighbor’s lawn while they were out of town for a while.  They wanted to give me a check for helping them out, and I refused.  I told them I’m sure they could help me out with something in the future.  That’s what neighbors are for. 
  • On a lighter note, Jessie from YNAB talks about the true meaning of a cleared transaction.  This one’s just a joke that I really liked, and think that everyone on a budget can relate to at one point or another.
  • I’m in agreement with MMM on domestic outsourcing vs doing things yourself.  I enjoy doing things around the house myself, whether it’s changing the oil in our vehicles to yardwork to finishing our basement.
  • We always hear about cash flow.  Trent from The Simple Dollar explains why you should pay off your low interest debts as quickly as possible.

Summer Is Here/Personal Finance Links

A week ago marked the unofficial start of Summer, and I can tell.  I’ve been spending a lot less time indoors, and working on more outdoor projects.  We’ve planted some flowers in our yard, added to our landscaping, and put in a pool.  We’ve also been spending some time cleaning up our rental property, as the previous renters moved out.

This means I haven’t had much time to work on indoor projects, like my online store and this blog.  I’ll still update throughout the summer, but it’ll just be fewer posts than what you’ve been used to.  So don’t forget about my blog.  It’ll pick back up in the Fall when it cools down again.  I’ll still try to have a post every week or two in the meantime, though.  Stay informed by clicking the Like button at the top right of this blog.  If you click that Like button, you’ll get an update on Facebook every time I have a new post.

I thought I’d add some links for you to take a look at, if you’re interested in reading more about personal finance.  Here are some I’ve read that I’d like to share: