Evolving Personal Finance

Psyching Out My IRA

December 26th, 2011 | 8 Comments

For the last six months or so I’ve wanted to max out my IRA. Like, I’m dying to. I’ve looked at our budget numerous times, attempting theoretical cuts here and there that could get me to the limit. I took my contribution from just under 10% of my gross income to about 16% but going the rest of the way is just not happening. Why do I want to max out my IRA? Two psychological precepts … Read entire article »

Filed under: budgeting, goals, retirement, savings, stock market

Awesome Financial Benefits to Being a Grad Student (and Terrible Detriments)

December 23rd, 2011 | 14 Comments

So, graduate school kind of sucks – especially Ph.D.s because they go on forever. (Can you tell I’ve been at it a while?) However, there are definitely some financial benefits to being in school, particularly the kind of school that pays you to be there (though not nearly as much as we’d be getting in the real world). Kyle and I collaborated on this list, but we’re represent a small slice of grad student experiences. … Read entire article »

Filed under: budgeting, grad school

Keeping Christmas in Perspective

December 21st, 2011 | 1 Comment

Christmas 2010 was a financial disaster. It was our first Christmas as a married couple and we had major clashes over gift-giving philosophies that resulted in higher-than-usual spending for both of us. We also flew to CA – our largest single expense. When I tallied it all up in January I resolved that we wouldn’t let another year play out that way. I completely lost focus on “the reason for the season” and got caught … Read entire article »

Filed under: budgeting, giving, goals

Book Review and Application: All Your Worth

December 19th, 2011 | 7 Comments

Last month I read All Your Worth: The Ultimate Lifetime Money Plan by Elizabeth Warren and Amelia Warren Tyagi (affiliate link – thanks for using!). The authors have another very interesting book titled The Two-Income Trap that I have skimmed and am now more interested in reading in full. You may recognize Elizabeth Warren’s name because she was the deputy director of the new federal agency spearheading consumer finance protection until last summer. I really, really … Read entire article »

Filed under: books, budgeting, credit cards, giving, savings

My Beloved Air Mattress: An Anti-Debt Story

December 16th, 2011 | 8 Comments

I have heard many stories of people getting over their heads when furnishing their first living quarters after college. Some of them get into credit card debt that haunts them for years and some others just create a really tight month or two for themselves on their new salaries. This post is about a similarly strapped young person who didn’t give in to those pressures and lived to tell about it. Because I attended college a … Read entire article »

Filed under: personal, transitions

Small Steps to Speed Financial Accomplishment

December 14th, 2011 | 1 Comment

Earlier this week I shared with you some of the ways my financial situation falls short of my ideals. I know what I should be doing but it seems difficult to actually get it done. I brainstormed a few steps I have taken in the past and should re-apply now. These tweaks are probably most useful for people who keep budgets and are auto-saving but want to find ways to be a bit more … Read entire article »

Filed under: budgeting, found money, goals, savings

I’m Not Perfect. Not Even Close.

December 12th, 2011 | 4 Comments

Sometimes personal finance bloggers come across like they have everything figured out and their money management is running exactly right on autopilot. Often, people start blogging during or after getting out of a massive amount of debt and so they have a tight focus and seemingly boundless motivation. These are incredible achievements and should be commended. I’m sure these bloggers don’t seek to conceal their current imperfections from their readers but I think it comes … Read entire article »

Filed under: budgeting, retirement, savings

We Are Debt-Free, We’re Not Debt-Free, We Are Debt-Free, We’re Not Debt-Free…

December 9th, 2011 | 26 Comments

OK fine, we’re not debt-free! … technically. Upon graduation from college, I had a little over $17,000 in student loans, which immediately went into deferment and will stay deferred until I graduate with my PhD. (During a deferment period, no payments are due.) All but $1000 of the loans were subsidized (not accruing interest), and I paid off the unsubsidized loan within a few months of graduating. So my debt balance stands, unchanging and undue (yet), … Read entire article »

Filed under: debt, investing

Why I Tithe

December 7th, 2011 | 3 Comments

Because I didn’t grow up “in the church,” I never really knew about tithing until I joined my first church family while in graduate school. My decision to tithe was one I made as an adult and I have observed the changes in my character that have occurred concurrently with becoming a cheerful giver. There is plenty of great content available about why one should tithe and how generosity is a mark of having been … Read entire article »

Filed under: giving

Side Income

December 5th, 2011 | 5 Comments

I never heard of side income or multiple revenue streams until I got into the PF-blog literature. When I was growing up my parents each had 0 or 1 jobs (never self-employed) any other work they did was volunteer. Now it makes perfect sense to me that you have increased security with multiple incomes, but it’s definitely a challenge to fit in any additional ones if you have a full-time primary job. Technically, as part of my contract … Read entire article »

Filed under: side income