Ideas on Personal Finance
Rich vs Wealthy: Definition Wealthy and Rich are often used interchangeably, but they represent very different things. There are a lot of rich people but far fewer wealthy people. Rich and Wealthy people both have a lot of money. The difference is that the rich have lots of money, but the wealthy don’t worry about … Read more
We make way less than we realize – if we factor in the expenses related to our job and the actual time we spend on our job. Overworked and Underpaid I used to complain that I was overworked and underpaid. Little did I know how much I was underpaid until I had a conversation with … Read more
A walk amongst the wealthy… A small change in our normal, daily routine can sometimes lead to a big discovery. On an unusually pleasant summer day, MrsFiner and I were taking our usual evening walk. Feeling a bit adventurous, we went farther than we usually do. As we strolled through the new neighborhood, a magnificent … Read more
The simple difference between working for money and having money work for you can be the difference between being poor or becoming wealthy! It’s your lucky day… Someone comes up to you and offers to make money for you. Even better, they expect nothing from you! Initially, you think that it is a joke. But … Read more
Hard work vs. Overwork A management consultant might seem an unlikely candidate to address the issue of overwork, considering that, in my past, I routinely logged 80-90 hour workweeks. However, I have witnessed first-hand the harm overworking can cause. Don’t get me wrong – hard work is a good thing. But when it transforms into … Read more
Evolution has taught us to think short-term and made it difficult to plan for the future. Making a few small changes might help us get better at financial planning. Why we are bad at Financial Planning Planning, by definition, involves thinking about the future. You may want to develop a financial plan to buy a … Read more
If you are happy, Financial Independence (FI) will make you happier. Pursue happiness before pursuing FI. Financial Independence and Happiness One of my big revelations after reaching Financial Independence (FI) was that it did not change my level of happiness. During my FI journey, I had imagined that everything would get better once I hit … Read more
The real cost of an item is not just the number that appears on the price tag. The Real Cost Before buying anything, it is important to know the cost of that item. Not the amount etched on the price tag, but the actual cost. The actual cost to you! The philosopher Thoreau said: The … Read more
Although I am a big FIRE fan, there are certain instances when Financial Independence (FI) may not be the right thing to do. Background on the List There is nothing that works for everyone, no matter how good it is. The same is true for Financial Independence (FI). Although I am happy to have been … Read more
Lifestyle Inflation is a silent killer of wealth. Thinking differently about Lifestyle Inflation may help in dealing with it. What is Lifestyle Inflation? Lifestyle inflation (lifestyle creep) happens when people spend more and more money to achieve a higher standard of living. Lifestyle inflation can occur in any area – from everyday expenses like a … Read more
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