David Ning
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Posts by David Ning
What Does Being Rich Mean to You Anyway?
September 2, 2010 - 7:00 am
Tags: Money, Real Estate, rich, wealth
Posted in Lifestyle, Personal Finance, family | No comments
Money Magazine had an interesting article in the September 2010 issue titled "Do You Have What It Takes To Be Wealthy?" The article comprised of 15 questions aimed to tell you if, indeed, you have a good chance to be rich. I aced it (if you consider having a solid chance of being rich a good thing, that is), but what is the definition of being wealthy anyway? Is it just a number we call net worth? Or is it something else all together?
I was given a tour the other day of a $6 million dollar home. Apparently, the owner bought the piece of land for $4 million and spent $10 million building the custom house on the site. The property was gorgeous (duh!), but the owner couldn’t have lived in it for more than three years and he lost $10 million in the process after considering not getting his asking price, agent fees, etc. when it’s all said and done.
When you have that kind of money to lose, are you considered rich? (By the way, for those concerned, the owner moved to an even more expensive neighborhood, so this is not one of those overextended home borrower stories.) Miranda started an interesting discussion asking whether you are rich. She claims that your location and personal situation matters a great deal when it comes to the financial portion of the definition of being rich, but I believe it’s more than that. I’d argue that being wealthy is much more than having, or earning a specific dollar amount.
Not Worrying About Money
This is much more than having a ton of money. Not worrying about money is more about the ratio of your spending and expectations versus your assets. Some people don’t have enough with $12 million, but others can retire comfortably with much, much less. However much money you have, you cannot be wealthy when the worry of money is always on the forefront of your mind.
Having Loving Family and Friends
You might have money, but you aren’t rich if you don’t have anyone to spend it with. Being rich is also having someone to share your joy and sorrows, and it’s having someone to have spend time with too. When you need a shoulder to cry on, can you actually buy one?
Having a Sense of Direction
You can have all the money in the world, but it’s very difficult to enjoy life if you don’t have a sense of purpose. We talk about finding a passion all the time, but to be quite honest with you, most people never listen. Some are simply too afraid to change their depressing jobs, they are too lazy to repair broken relationships, and they are too proud to admit their mistakes so they can start over. First of all, I don’t think these people will be able to maximize their earnings power this way. Even if they could, how does having a bunch of money with a miserable life make them wealthy?
Being rich requires money. There is no doubt about it. But it's much more than that — so much more.
What Is True Affordability?
August 25, 2010 - 6:00 am
Tags: affordable, Cash, debt management, Finance, Money, Spending
Posted in Uncategorized | No comments
During the past decade, lenders and the media had us believe that affordability simply meant qualifying to buy it with a loan. Of course, that era ended with dire consequences, so that can’t be right. What is true affordability anyway? Can you spot it if you come across it?
The Dream House Lover
Sammy loves the ocean, and he is making a ton of money. In fact, he is going to make more than $1 million dollars this year alone. From what you just read, you’d think that he’s one of the nation’s richest right?
But not so fast.
Though he is debt free and saving money in a rapid pace, he doesn't have much to his name yet. You see, his business is just starting to pick up. While he can probably cash in $500,000 a year after taxes at this rate, it would still take him eight years before he amasses four million, the price of the home he wants to buy. "I can afford it" he thinks. Or can he? And when?
The Average Car Buyer
Whether leasing is a good idea comes up all the time. Most people who favor leasing will tell you that the numbers work out in their favor if they like to change cars every few years. Some will tell you that it even reduces their liability, because no matter what happens to the car, they are hands free after the lease term is up. Now, let’s say that your take home pay (after taxes) is $5,000 a month. It would be reasonable to say that you can spend $500 a month on your car right?
But then again, what if, when time comes to change your house, you couldn’t afford the one you wanted? What if I told you that if you chose to drive that used beater and never changed cars instead, you would have that extra $50,000 needed to afford that nice house? Was the car really affordable for you?
What I Think Is True Affordability
Of course, there are infinite examples and unlimited possibilities, so worrying about the future is useless, impossible, and most important of all, unhealthy. So what to do? When I think of whether something is affordable, all I worry about is whether I could afford overpaying for it. Whether it’s a house, a car or a chocolate bar, if I could knowingly overpay for it because other factors outweigh the financial ones, I know I could truly afford it.
Just to clarify, I’m not saying that I would simply pay more for something because I didn’t do my research. If I could get the same product somewhere else that’s exactly the same, like a TV that’s on sale at another store for instance, then it’s unwise to buy it for a higher price. All I’m saying is that if a slight price fluctuation isn’t going to be devastating, then it’s likely that I can afford it. Otherwise, it’s simply too expensive, and I should work harder to make more money if owning it is that important to me.
I Am Doing Well Financially. Now What?
August 17, 2010 - 6:00 am
Tags: Advice, debt, Finance, financial tips, money management, retirement, Spending
Posted in Lifestyle, Personal Finance, Travel | No comments
"Eventually, you can afford to better your life."
You’ve worked hard all your life, saving up while making sensible decisions about your finances. You built a sizable nest egg and is currently in a stable job, earning doodles of money.
Now what?
If you’ve been reading personal finance literature for a while, you might have thought that you live amongst a bunch of money slaves. And who could blame you? We talk about saving, getting out of debt and never spending a dime more than our fair share of the time. Sometimes it seems there are no other pastimes than checking our bank balances.
But what if, after years of saving, you are actually on track for a comfortable retirement? Is there anything you can do to make your life just a little bit better?
The answer, of course, is yes. Here are a few suggestions, and while this is by no means a comprehensive list (nor something you might want to do), it will get you started on the right track.
Go on that vacation.
Quite a few of you already go on vacations every once in a while, but I know of too many people who are always stuck in their hometown using staycations as an excuse for their laziness in organizing a trip somewhere fun. Experiencing different cultures could be a life changing event. If you are worried your new passion may cost too much, here are 50 ways to save money on your travels.
Start hiring.
Strong entrepreneurs understand the importance of getting help for their businesses, but few apply the same concepts to their everyday lives. With the internet these days, you can pretty much find someone to do virtually anything you ever want for a small fee.
Do you not like to clean the house? Find a house cleaner. Can't cook? Look for a chef that will come to your house. You can even find people to sort through mail for you. It's amazing how much better life could be if you pay a bit of money for someone else to do what you hate. This whole "expense" may sound ridiculously to you, but when you are happy, you may spend less on stuff, or you might end up being more energetic at work and get a promotion! After all, it's your money, and your choice!
Give them that 1%.
You may think that more money will make you feel richer, but chasing a number is really a never ending game. Feeling rich is all about not worrying about money, and one way to do this is to hire a financial adviser who will worry about your money for you.
Now, this isn’t as easy as it sounds of course. It takes considerable effort to find a competent individual who is at least somewhat interested in helping your finances. But once you find that person you can bond with and trust, they are worth every penny he/she will charge for managing your assets.
All wealthy families have wealth managers. If they are willing to pay a much higher amount than you for the same privilege, shouldn’t you at least consider the same?
Change careers.
Finding another job, especially in this economy, might sound drastic. But if you can afford it and you aren’t happy at work, perhaps this is the best advice anyone could ever give you. For most of you, 40+ hours feeling miserable every week is just way too much! If you can find another job that you can be passionate for, even if it pays less, why not?
Think of it as an expense. You buy something because it makes you happy. How much is working in a happier environment worth to you?
Look. Everyone’s situation is different, so it’s hard for general advices to always make sense. All I ask is for you to look, think about the pros and cons and make a conscious decision. If you can practice that all the time, you are well on your way to financial freedom. [Click Here to Find Out Why You Don't Need $12 Million to Retire]
The Audacity to Waste Money for Better Finances
August 11, 2010 - 6:00 am
Tags: cost, finances, Investment, money management, retirement, roi, Spending
Posted in Frugal Living, Lifestyle, Personal Finance | No comments
I always thought it would be great if a screen door would work with the double french doors in my kitchen. That way, air could come in without the bugs having access to my house. Recently, I saw a retractable screen door at a friend’s house. It would be the perfect solution I thought, until he told me it costs $700 to get it installed.
$700?! That’s practically a decade’s worth of air conditioning. I might as well just turn on the A/C any time I’m hot. But then a few days later, though the temperature was high in the kitchen, I opted to just bear with the heat since it was actually cool outside. The retractable unit obviously popped into my mind again. Since I was never going to turn on A/C anyway, is comparing it to the cost of running air conditioning just plain wrong?
This got me to think: Is there anything else that seems to be a waste of money at first glance but might not be so bad for certain types of people? Here are a few examples.
What’s Worth the Waste
Financial advisers want 1 percent every year, and I’ve read loads and loads of articles about financial scumbags. Expensive, right? I get it. But for those people who can’t keep themselves from themselves when the markets are at extremes, isn’t that 1 percent a very smart price to pay? Buying a cup of Starbucks coffee every day may cost thousands of dollars a year, but isn’t it better than feeling miserable all day?
I mean, some people end up buying a big ticket item every few months just because they aren’t happy! And if you feel at peace, what’s to say that you won’t end up finding the motivation to start a side business that will make you that Starbucks fund many times over? Same with houses, cars, dresses and whatever else you fancy. If it motivates you, makes you happy, and you can afford to pay for it, what’s so wrong about buying it? After all, money is meant to be spent, not hoarded.
What I Mean
Look. Most of us can probably use more of the "don't ever spend on anything" articles because we aren't saving enough. But in specific types of situations, what seems like a big waste of money is actually worth it. Think of it as an investment. Investment for your peace of mind, investment for your business, and maybe an investment for your happiness. Not every waste is actually a waste. Know yourself, and may your decision take you onto a smoother path to financial freedom.
Low Interest Rates Do Not Make Homes Affordable
August 4, 2010 - 10:00 am
Tags: buying a home, Financial News, Government, Home Ownership, housing, interest rate, mortgage, Real Estate, Real Estate and Housing
Posted in Uncategorized | No comments
Does the sales price of your home matter if the mortgage rate is low enough?
If you ever thought about buying a home, the recent all-time low mortgage rates must be enticing. And this is exactly how the government wants everybody to feel, by the way. In an effort to keep homes affordable (as they claim), the federal reserve is driving down interest rates to record lows. But is what they are doing helping? Let’s take a look.
Just a short couple of years ago, interest rates were at 6 percent. For a $300,000 mortgage, the payment would have been $1798.65 a month. With the interest rate at 4.5 percent, the monthly payment drops to $1520.06. So far so good, because it costs us less to own our home.
But wait a minute.
Most people don’t just refinance and lower their payment. These days, with rates at 4.5 percent, roughly the same monthly payment ($1798.73, to be exact) could get you a $355,000 mortgage. So what do people do? Instead of buying a $350,000 home with their down payment and loan approval letter, they shop for a $400,000 home. And who can blame them? An extra $50,000 almost always gets them a nicer place. Sometimes, it would actually allow them to pay more for a house than they otherwise would.
For example, they might have been able to get the house for $350,000 if they tell the seller that the offer is all they are approved for, but if a buyer can muster up $400,000, he might end up offering $360,000. Same house, higher transaction price. Having a lower interest rate also allows more people to qualify for a home. This is a good thing for someone who couldn’t afford the payment before, but it drives prices higher because of more demand, ultimately lowering affordability for everybody.
In other words, lowering interest rates gets more people thinking about buying a home and drives up demand. Most of the time, that’s a noble and worthwhile goal, since home ownership is still a dream of many. But as you’ve witnessed in the last decade, allowing more people to own homes mindlessly is just reckless. What we really need to do is make homes affordable so financially responsible people can actually afford the payments, which is only achievable through lower home prices.
I’m a homeowner too, so the selfish side of me is thinking that high-priced homes are good. But for the economy to grow and our country to be a place people want to be in the future, nice homes need to be affordable without government intervention. Unaffordable home prices will never get us there. Please allow homes to be affordable again for the hard-working American.
Related articles from MoneyNing:
7 Reasonable Alternatives to Buying
July 29, 2010 - 6:00 am
Tags: expense, spending tips
Posted in Lifestyle, Shopping | No comments
Rumor has it that we tend to spend less in retirement, but it sure seems as though we come up to the buying intersection more frequently as we grow older. Worst of all, it’s as if the intersection gets wider with more traffic so our decision gets more complicated as we age too. Will buying that HDTV affect our savings goal? Do I have enough for my kids’ college if I change my car now? Luckily, for the most part, buying is rarely our only option. Here are 7 alternatives to buying.
1. Make It Instead
One of the great products of the information superhighway is the abundance of how-to guides and access to people with unique expertise. If you are willing to put in some effort, a vast majority of stuff can actually be made. Note: DIY isn’t always cheaper though. There are situations in which DIY is more expensive.
2. Fix What’s Broken
Repairing is really becoming a lost art. In our modern society, replacing is often a cheaper solution but fixing is not solely about cost. Fixing is sometimes about convenience and self sufficiency too. Just the other day, a fluorescent light fixture in my home stopped functioning. Despite my efforts, no electrician wanted to come replace it because the job was too small. I ended up taking it apart myself and changing out the ballast, which took all of 15 minutes to do. Could I have eventually found someone that I can pay enough to come by? Of course, but how long will that take?
3. Refurbish What You Already Own
Whether it’s giving your car a fresh coat of paint of refinishing your furniture, many of what you already have can be made fresh again. If you’ve never done this, you might be surprised at how simple updates can completely change the perception of whether something needs to be replaced or not. Note that quality of work matters a good deal. If you are going to repaint your car for instance, it’s crucial to find a reputable body shop that can do a good job. Going with the lowest cost is rarely a good idea, so think carefully before you decide!
4. Rent It or Borrow It
Renting often seems expensive, but you may end up spending less money since most people don’t use anything to its maximum lifespan. You won’t get the initial rush of buying something brand new, but chasing desires is a dangerous road my friend.
5. Barter or Swap for It
Actually, we already do this on a daily basis. We exchange our labor for pieces of paper we call cash in our jobs, then we exchange those pieces of paper into products. Bartering is just skipping the middle step, exchanging labor directly into what we want. Another great way to stretch your dollars is to arrange for a swap. Could your friend use a printer you no longer want who could give you that car seat his daughter grew out of? Caution if you agree to this arrangement: retailers don’t like this.
6. Maintain It Before It Breaks
Quite often, we need to replace something because we never took care of it in the first place. Do you regularly clean up the junk on your computer before it slows to a crawl? Do you service your vehicle regularly? Maintenance sometimes seem cumbersome and expensive, but replacing is often much more costly and time consuming.
7. Make Do Without It
Quite often, all that stuff we accumulate becomes just a big pile of junk. And worst, it’s hidden in the attic until we move, costing time and money. What’s the point? You know the drill. Just make do! [Want to save money on moving? Here are some tips.] Buying is at times necessary but it’s not always the only choice. Be creative and you might be able to save even more money than you do now!
5 Dead Simple Reasons Why People Are Frugal
July 21, 2010 - 6:00 am
Tags: Coupons
Posted in Lifestyle | No comments
Every time we discuss the subject of frugal living, someone somewhere always brings up opportunity cost. It goes something like this. "…my time is worth a whole lot more. If I'm going to spend the time clipping coupons, I might as well spend some time working on my side business." Valid point no doubt, but there are many reasons why we share and practice frugality. Aside from the direct benefit of saving those couple of dollars, we pinch pennies when:
1. It bothers us otherwise.
It’s not that we can’t afford a new pair of shoes, but why buy when we can get it fixed? If we can make/build/do it ourselves, why pay and rely on someone else? I understand that you don’t want to bother with learning how to live like us, but it bothers us to live like the way you do.
2. We are just used to it.
Some of us are wired that way, and others amongst us learn to just do it. The truth is that most of the time, we just automatically opt for the cheaper alternative. You are used to spending money at Starbucks, we are used to brewing our coffee. Frugality is not necessarily a better way, but it is a different way.
3. We are just watching TV with our free time.
Clipping coupons and researching the best deal takes time. Haggling takes time, and trying to reuse everything takes time. Being frugal takes time, but if we are just in front of the TV otherwise, we’d take a more comfortable retirement any day of the week. You have fun being a couch potato, and we get a kick out of getting a good deal. We don’t question you. Maybe you shouldn’t question us.
4. We hate complexity.
Some of us actually realize that the more we buy, the more cluttered our house becomes. Not only is it a big waste of money, it’s a huge hassle to clean, organize and store everything. Sure, we can make the money and spend it too, but that’s so complicated if you think about it. We rather make do with what we already have.
5. We simply love doing it.
We are frugal because we love doing it. We are proud that we aren’t being wasteful, and we truly enjoy spending less than everyone else. You may love going to shopping, but we love working on our vegetable gardens. You may not get us, but we don’t get you either. Isn’t that fair?
17 Things You Are Missing Out on for Spending Too Much
July 12, 2010 - 5:00 am
Tags: declutter, Saving, Spending
Posted in Lifestyle, Personal Finance | No comments
Many of us will never reduce our spending even though we know it’s beneficial. We put it on our to-do list, only to leave it there indefinitely. But don’t fret, you probably aren’t missing much more than these 17 things.
1. A job you like instead of one that makes you money. The vast majority of us work because we need the income. If you have great spending habits, you can work on jobs that you are passionate about instead of one that just pay your bills. Over time, you might end up making more money.
2. A safety net for unexpected events. Accidents will happen sooner or later. You don’t have to reduce your spending if you have a job that makes you oodles of money, but for the majority of us, get busy!
3. The beauty of less clutter. Do you remember rediscovering all your spending memories when you move? Unfortunately for us, most of what we buy is usually useless. If we spend less, we just have less to throw away!
4. Less clutter in the house. Forget waiting until we move. When we buy less, we have less clutter so there is more room for us to enjoy.
5. Less stress from the little costs. Gas prices are creeping up again, but I’m not too worried because it’s a very small portion of how much I’m able to save every month. If I lived paycheck to paycheck, then I need to worry big time even though I can’t really do much about it.
6. Ability to make investments when they are undervalued, not when money finally comes your way. Wealthy people can invest more when the market is down because they have the cash. Can you?
7. Quiting when you want. Many people want to quit but they can’t. Reason? No savings and too much spending. Funny how this is as much a problem for high income earners as well as low. For some people, their paycheck is never enough.
8. Being a good example for your kids. We all want the best for our kids and want to teach them sound financial fundamentals. If we can’t control our spending, how can we expect anyone to?
9. Feeling financially secure. Need I say more?
10. Sharpening your mind. Spending less is not as easy as spending whenever you feel like. When you need to think more, you train your mind. It’s like going to the gym but instead of toning your muscles, you are sharpening your brain cells.
11. Money to ride the emotional waves. When you are living paycheck to paycheck and cash flow is always tight, it is very hard to stay calm when the stock market tanks. More savings means that you are less dependent on short term results, which often translates to better long term success.
12. Less debt. No matter how you spin it, there is no good debt. 3 words for you, eliminate, eliminate, and eliminate.
13. Affordability increases. Less spending equals more savings. With more at the bank, you have comfort knowing that you can afford something even if you don’t end up buying it. Sounds insignificant, but this is very powerful.
14. Better interest rates. Bank managers have the power to increase your CD interest rates. The higher your savings with a bank, the higher the chances that you will be offered a better rate. (This works for online savings accounts too, so it’s not just brick and mortar banks.)
15. More privileges with more assets. Wealthy clients don’t just get better interest rates, they get much more attention too. This means your questions are answered more thoroughly, and your needs better met.
16. Cheaper loans. Part of our credit score is dependent upon the ratio of our available credit and the debt we carry. If we lower our spending and increase this ratio, it will translate to better credit scores, and thus cheaper loans.
17. Freedom. Spending less is not just about money but rather flexibility. Imagine saying no to your boss because you can, imagine not knowing what the stock market did because it doesn’t matter, and imagine what you can do if you just reduce your spending today.
How to Save Money Buying a New Car and Be Happy
July 7, 2010 - 6:00 am
Tags: bargains, car shopping, Cars and Transportation, frugal tips, new car, save money
Posted in Uncategorized | No comments
Though a car could be one of the most enjoyable purchases, many of us are simply fed up with the whole shopping process. It’s not that we don’t like picking and choosing our favorite color and options, but those sales people…arrgggghhh. In the old days, I would deliberately let the salesperson make a little bit of money by not negotiating as hard as I could because that’s the only way I could buy a car and keep my sanity. With the Internet though, things changed. You can actually get the best price available anywhere and still be happy. Talk about having the cake and eating it too. Here’s how…
Forget Edmunds.com…
Edmunds.com is probably the leading website that people tend to reference in articles like these, but I’m telling you that you don’t need to go there at all. Sure, the site’s got a wealth of information about the car that you want to buy, invoice pricing as well as what others are paying in your area, but that’s not nearly good enough. Think about it for a second. What others are paying is just the average of everyone who bought a car in your area. If the buying pool consisted of ten people with five paying invoice and five paying full sticker, the site would show a number between sticker and invoice. Now, did you get a good deal by going with that price? And don’t believe that no one pays sticker either. There are tons of people who pay full retail (or close to it) on cars. Another problem with these websites is that they don’t keep track of the miscellaneous fees that all car manufacturers tack on, which ultimately means that dealerships can mark them up and make money off you. Unless…
The Real Solution
Next time you buy a car and you want to get a VERY good price, all you have to do is visit the forums. Go to your favorite search engine and type in your car and the word forum (or message board), and a bunch of sites where enthusiasts meet and chat will pop up in the results. Click through and start reading. You can find all the issues people are having, look at pictures of your favorite car with every option imaginable and also find out all the fees and ways dealers can rip you off. But that’s not all. There’s a 100% chance that you will not only find invoice pricing for your car and all the options available but the deals other people are getting as well. Quite often, you will even be able to locate a few dealers who can offer you a price that is better than 99% of the ones you can get anywhere else. Armed with this information, you basically have two options: go with the dealer if he’s close enough, or print the email and just go to a dealership that you like and ask them to match the price. Since you already have a solid offer with the exact options you like,all the normal sales tactic like up selling shouldn’t work anymore. Either they can match the price, or they cannot. Most of the time, they will go to the manager’s office and just match the price you give them, and you are done.
This Takes Work
The process I just described is by no means instantaneous. After all, it takes time to read the message boards and to figure out all the fees and deals that people are getting. But I love it. I actually find that the more I read about people's passion for a car I plan to get, the more I know whether the car is right for me. The more I read, the more I actually understand the options for the car and what is best for my own circumstances, and the more I read, the more I know whether now is the right time to buy the car. No more regrets. No more "Oh I wish I knew about that rim option" and no more "I didn't know you can get a great deal like that!"
It REALLY Saves Me Money
This saves me money in three ways.
- The negotiated price. If no one is getting invoice on that particular model, then there’s no point to be upset about not being offered that price. While there’s always someone who will get the best price, it won’t be just ONE person.
- The fees. If you don’t check, you will never know that the price of your car can contain system training fees, bank lease fees, and a money factor that the dealership can mark up. Since some are justified and some needs to be eliminated, how can you make an informed decision if you don’t even hear about them until the very end?
- Options. Like everything else, not buying it saves you the most money. Knowing other people's experiences can only help you decide whether, for example, that compass in the rear view mirror is that useful. For some, it might be a "must have". For others, it might not be worth the $500 it may cost. You decide.
The Best Part…
Money aside, the best part about spending the time to research is that it builds anticipation so the car will be that much more enjoyable when you actually start being the owner of one. If you want to get the most value, a used car is still the way to go, but if you ever buy new, this is the best way.
What Does Frugal Living Mean to You?
June 28, 2010 - 7:46 am
Tags: frugality, house, Joneses
Posted in Lifestyle | No comments
Let me ask you this. If your friend recently bought a $1 million dollar house, is that an act of frugality? What if she could actually buy a house worth $10 million but decided to spend only 1/10 of what she could really afford? Does that change your answer? A $500,000 house is VERY expensive amongst many social circles, but Warren Buffett, the billionaire investor, is always praised about his lack of desire to spend on luxury because he is still living in his house thought to be worth about $500,000.
When you are the second richest person in the world, are you frugal if you opted for a million dollar home instead of buying a multimillion dollar mansion? I mean, a million dollars to Warren Buffett is like the cost of dinner to most of the general public! Shouldn’t he be using a different scale when it comes to what is deemed frugal?
Frugality Is Relative
Most of the time, we judge others' financial habits by what we can see from the outside — the clothes they wear, the cars they drive, and the house they buy. We never realize how much money they make, and never compare what they spend as it relates to what they can actually afford. Keeping up with the Joneses? What if Mr. Jones is a billionaire?
As you can see, the meaning of frugality is relative. What frugal living means to you may be totally different than what it means for someone else. Your neighbor could buy a $1,000 purse and she could still be frugal, while a $100 pair of shoes from another neighbor could mean that he spent too lavishly. So how can you compare? Your coworkers may have a large inheritance, your friends could have married rich, and your neighbors might be fortunate enough to run a successful business. You don’t know other people’s situation, and more importantly, why does it matter anyway?
- Does your neighbor’s BMW help you get to a comfortable retirement faster?
- Does your coworker’s lavish vacation make your retirement more relaxing?
- Does your friend’s purse hold more secrets to your financial independence?
Take frugal living personally. In other words, stop minding other people’s business like trying to keep up with the Joneses and be happy that you are frugal and that you are working towards your financial independence. In your own way of course.