How to Track Expenses – Methods That Work and Some I Hate

How to Track Expenses - Methods That Work and Some I Hate #personalfinance #expenses #tracking #budgeting #financialplanning

Team – Today we are fortunate enough to have another “Mailbag” post to share with you! Matt reached out a few weeks ago asking for some context about how to track expenses. I thought the question was a great one and because I had more than a few lines to write – I thought this made for a great Mailbag candidate post!   (Photo courtesy of Justin Montemarano)   I’ll let Matt set up his question about how to track expenses:     Hi Mike,     I just read your article from business insider. I related to a lot of aspects of your families story, and at the exact same spot in life. More exciting to me was the relatability of you and your wife’s approach to finances. I’ve been looking for a better way to track our families daily expenses, and I’m wondering what you use to track daily expenses?   […]

Continue Reading

Why We’re Happy Taking a Few Extra Years to Pay Off Debt

Why We're Happy Taking a Few Extra Years to Pay Off Debt #SavingGoals #financialplanning #debt #saving

Guess what – Paying off debt at an accelerated rate can be harmful to your health… More than that, you may not be making the best decision for your financial future. “Why?” You ask – Being debt free isn’t the only mark of financial success. In fact, I’d argue that your saving goals can be significantly more important than being debt free…   Depending on your specific situation.     I met with our accountant last month, and throughout the first half of the meeting, I kept reinforcing a few of our current financial goals. “By throwing an extra $X at this loan, we’ll be able to knock that loan out 2 years sooner…”   I was focused on getting rid of a few of these debts we have as fast as we possibly could. And for a half hour, I lost sight of the bigger picture.   My accountant […]

Continue Reading

Help!! I’m Proposing and Need Some Financial Advice!!

Help!! I'm Proposing and Need Some Financial Advice!! #creditcards #proposing #highyield #savings #personalfinance

Hi, Team! From time-to-time, I’ll do a mailbag post where I’m literally answering questions from readers just like you! So if you’ve got a burning question or would like a second set of eyes on a financial, business, or fitness situation, please feel free to reach out on Twitter or via email and my answer to your question may be featured in a post!   (Photo courtesy of Justin Montemarano)   Today, I’m responding to Jake, who asked a few things about credit cards and online savings accounts (my comments are in bold italics here):   1- What’s the best way for me to pay for a wedding ring that I don’t currently have the cash for but will in the next 12-15 months (he’s proposing in the next 2 months), and what are some things I need to be thinking about? Is going with a 0% APR for a year […]

Continue Reading

Wins and Losses Series: Michael from Your Money Geek – “I decided to dump the 4% rule”

Wins and Losses Series: Michael From Your Money Geek - "I Dumped the 4% Rule"

Check out the complete Wins and Losses Series Here   Hi, Team!   Welcome to another edition of MikedUp Blog’s Wins and Losses Series, where we interview a generous participant about 4 of the best and worst moments of their life. The point? To learn from the past so that we can improve in the future!   If you’re interested in participating in the Wins and Losses Series, please send me a note here (you don’t have to be a blogger to participate!).   (Photo courtesy of MKulp Photography)   This week’s participant is: Michael Dinich from Your Money Geek   Michael didn’t hold back with the wisdom this week! I’m stoked to see what you readers have to say about this one! Take it away, Michael:     Hello MikedUp Blog readers!   I’m Michael, and I blog at Your Money Geek providing tips on how to make money and […]

Continue Reading