Affordable Education: How to Earn a Degree Without Breaking the Bank

Affordable Education_ How to Earn a Degree Without Breaking the Bank

What is affordable education? Today, we will explore how to earn a degree without breaking the bank.

Welcome to the 20th FLA Guest Blog Post! Thank you to Kylie from Live Passive for sharing this helpful article.

Kylie Eckerd is the creator of Live Passive. She makes the most of her gig economy income by investing in developing passive income streams and loves helping others find ways to improve their lives. She created Live Passive because she believes that financial independence is key to true happiness. Kylie also enjoys dancing, spending time with her family and friends, traveling, and reading.

Live Passive will help create a life of financial balance and fulfillment.

Pursuing higher education is a life-changing opportunity, but for many college students these days, the fear of significant debt can overshadow the excitement of earning a degree. The rising cost of tuition has made financial planning an essential part of the college experience. Fortunately, there are several practical strategies that modern students can use to minimize their expenses and avoid long-term financial burdens. From scholarships and grants to researching your educational options and budgeting wisely, this article explores effective ways to get a quality education without drowning in debt.

Engaging in Effective Time Management

Juggling academic responsibilities and work commitments can be a little challenging, but striking the right balance is essential for both your educational and financial goals. By effectively managing your time and setting clear priorities, you can excel in your studies while gaining valuable work experience that reduces your need for student loans. Utilizing planners or digital calendars can really help you organize your tasks and manage deadlines, ensuring that you allocate enough time for studying, working, and self-care. Going along with this, communicating openly with your employers and professors about your commitments can lead to flexible arrangements that accommodate your schedule. Setting healthy boundaries and avoiding over commitment protects you from burnout and keeps your academic performance on track.

Time Management
Image Source: Time Management via Pexels

Pursuing Affordable Nursing Degrees Through Online Programs

Choosing an online degree program can significantly reduce your educational expenses while offering the flexibility you need. By pursuing a Master of Science in Nursing online, you can balance full-time work and family commitments with your studies, avoiding the financial strain of lost income. Online education allows you to advance into specialized nursing fields like education, informatics, administration, or advanced practice without the hefty price tag of traditional programs. Many online programs are designed to let you learn at your own pace, helping you manage both your time and finances effectively. This approach not only makes higher education more accessible but also empowers you to advance your career without accumulating significant debt.

Unearthing Scholarship Opportunities Through Community Connections

Regularly checking with community organizations such as nearby businesses and local non-profits can uncover scholarships tailored to students like you. These organizations often offer financial aid to residents or those actively participating in regional initiatives, which means a smaller applicant pool and a better chance for you to secure funding. By engaging with local groups, you not only discover scholarship opportunities but also build relationships that could benefit your future career. Attending community events, visiting community centers, and connecting with organization leaders keep you informed about new scholarships and upcoming application deadlines. Taking advantage of these local scholarships can substantially decrease your college expenses and are often less competitive than national awards.

Reducing Student Loan Debt Through Merit-Based Scholarships and Grants

Actively seeking out merit-based scholarships and grants can significantly decrease your reliance on educational loans. Many students successfully obtain scholarships and fellowships awarded for academic excellence or special skills, which can cover substantial portions of tuition and fees. These merit-based financial aids not only reduce your immediate expenses but also lessen the long-term burden of student loan debt. By minimizing borrowed amounts, you can focus more on your studies without the stress of future repayments. Taking advantage of these affordable education opportunities is a proactive step toward a debt-free college degree.

Scholarship Application
Image Source: Scholarship Application via Free Pik

Understanding Credit Cards and Avoiding High-Interest Debt

Understanding the benefits and risks of credit cards is essential to prevent overwhelming high-interest debt. While credit cards provide convenience and can boost your credit score, they often carry steep interest rates that can quickly accumulate if you don’t pay off your balance each month. You might find yourself spending more with credit cards than with cash, as the delayed payment can make purchases feel less immediate. If you habitually overspend and only make minimum payments, your debt can grow rapidly, leading to financial strain and potential credit issues. By educating yourself on how credit cards work, and using credit responsibly, you can reap their advantages without falling into debt.

Saving Money by Sharing Off-Campus Housing Expenses

Exploring off-campus housing with roommates can significantly lower your living costs by dividing rent and utility bills among multiple people. Sharing a living space reduces individual expenses and offers the added benefit of social interaction and support. Being open to less luxurious accommodations can help you find a place that fits your budget without sacrificing comfort. Working together with your roommates to negotiate better deals on services like internet or cable can lead to further savings. By collaborating on these strategies, you can create an economical living arrangement that eases financial stress while enhancing your college experience.

Achieving Financial Success in College with a Detailed Budget Plan

Developing a detailed budget plan is essential for managing your college finances effectively. By carefully monitoring your expenses – from fixed costs like tuition and housing to variable expenses such as food and entertainment – you can make your money last the entire semester. This proactive approach helps you avoid the stress of running out of funds and reduces the risk of accumulating credit card debt, which can have lasting impacts on your financial future. By identifying areas where you can save on affordable education, you may be able to build an emergency fund to handle unexpected costs. Embracing budgeting in college not only supports your current needs but also cultivates financial habits that will benefit you long after graduation.

Graduating with little to no debt is an achievable goal with the right approach and resources. By taking advantage of financial aid opportunities, making smart spending choices, and staying proactive about managing costs, students can focus on their education without the stress of looming debt. Remember, the choices you make today will shape your financial future, so prioritize strategies that allow you to enjoy your college years while building a stable foundation for life after graduation.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

What are your thoughts on Affordable Education? Let me know in the comments below.

Discover a fresh perspective on personal finance at Fresh Life Advice and unlock new insights for your financial success!

Smart Money Moves: Proven Practices to Keep You Financially Grounded

Smart Money Moves Proven Practices to Keep You Financially Grounded

What are some smart money moves? Today, we will explore proven practices to keep you financially grounded.

Welcome to the 19th FLA Guest Blog Post! Thank you to Caroline & Jim from Elder Action for sharing this helpful article.

Caroline & Jim are the creators of Elder Action and are based out of Raleigh, NC. They provide resources for elder-positive action. They preach that it’s that it’s time we stop passing over the elderly. That will likely be you some day, you know; do you treat your seniors the way you’d like to be treated?

About five years ago, they had to return to their hometown to care for their ailing parents. Little did they know how much they’d learn about the modern senior condition. Since that first year of their return, they’ve been doing their best to fight for senior mental health and support. We hope you’ll join us in this!

The goal is to highlight ways in which we can give seniors support. They’re always tinkering with Elder Action and adding more findings, so we hope you’ll check in regularly.

Financial stability isn’t just about earning or saving; it’s about building habits that keep you steady through life’s shifts. By focusing on clear, actionable smart money moves, you can create a foundation that supports both current needs and future goals. This isn’t a one-time fix – it’s a mindset that evolves with you, helping you prioritize what matters most while staying adaptable to changing circumstances. Courtesy of Fresh Life Advice, here are some tips to help you design a life where you can feel prepared, confident, and in control.

Build a Budget That Works

Creating a practical monthly budget starts with examining your spending habits. By analyzing where your money has been going, such as noticing a spike in dining out expenses on weekends, you can identify areas for improvement. This insight allows you to set achievable financial goals, like saving a certain amount each month for a future purchase. Utilizing budgeting tools can simplify this process by automatically tracking and categorizing your expenses, helping you maintain financial discipline. A budget tailored to your unique spending habits provides the flexibility to enjoy life while preparing for unexpected financial challenges.

Establish Separate Savings Accounts

Setting up separate accounts for distinct savings goals can be a simple yet powerful way to manage your finances with clarity. By designating individual accounts for specific goals – such as an emergency fund, travel savings, or a future home purchase – you create clear boundaries that help prevent accidental overspending. This approach not only provides visual motivation as you watch each account grow but also makes it easier to track your progress. When each dollar has a designated purpose, you’re less likely to dip into these funds for everyday expenses, making it easier to stay disciplined and committed to your long-term goals.

Savings Account
Image Source: Savings Account via Free Pik

Stay Vigilant of Financial Scams

Staying vigilant against financial scams is crucial in an increasingly digital world, where threats can appear through phone calls, emails, or even text messages. Recognizing red flags, such as unsolicited investment offers or pressure tactics, can help protect your assets. For suspicious calls, using a reverse phone lookup tool can confirm essential details like the caller’s identity, address, and carrier, which helps filter out potential scams. Many of these services also provide access to complaint databases and frequently reported numbers, offering a clearer picture of the caller’s intentions. For example, using this service can provide details on the 212 area code, helping you make informed choices and shield yourself from deceptive schemes that could compromise your financial security.

Invest and Prosper

Investing is a great way to save for your future and to plan for retirement. To make the most of your investments, diversification is a crucial strategy for managing risk. By spreading your investments across different asset classes, sectors, and regions, you can mitigate the impact of any single investment’s poor performance. This approach not only protects against economic shifts but also enhances your potential for achieving long-term financial goals. Regularly reviewing and rebalancing your portfolio ensures it aligns with your risk tolerance and objectives, providing a stable foundation for financial growth.

Multiply Your Earnings Through Other Income Streams

Building additional income streams can be a transformative strategy for achieving financial security and flexibility. By exploring opportunities beyond your primary job, such as freelance work, rental income, or investing, you can reduce reliance on a single paycheck and create a buffer against economic shifts. Diversifying income doesn’t just boost your earnings – it also empowers you to pursue interests, build new skills, and expand your professional network. Each stream acts as a financial safeguard, providing stability even when one source may fluctuate.

Create a Safety Net with Emergency Funds

An emergency fund is your financial safety net in times of crisis. Life is unpredictable, and sudden expenses like medical bills or job loss can quickly drain your savings if you’re unprepared. By setting aside three to six months’ worth of living expenses, you create a buffer that allows you to handle unforeseen costs without resorting to high-interest loans or credit card debt. This cushion not only protects you from debt cycles but also provides peace of mind, enabling you to focus on making informed decisions during challenging times.

Early Tax Planning Pays Off

Early tax planning can be a game changer for maximizing deductions and minimizing liabilities. By starting your tax planning early, you can strategically manage your income and expenses to take advantage of available tax benefits. For instance, contributing to retirement accounts not only secures your future but also reduces your taxable income for the year. Early planning helps you avoid tax surprises and ensures a smoother financial journey.

Time for Taxes Money Financial Accounting Taxation Concept
Image Source: Tax Time via Free Pik

Visit a Financial Advisor

Seeing a financial advisor offers valuable guidance that can enhance your financial health and help you achieve both short-term and long-term goals. Advisors provide expertise in areas like budgeting, investing, retirement planning, and tax strategies, tailoring their advice to your unique situation and goals. They can help you make informed decisions about managing debt, growing savings, and maximizing your investments, all while helping you avoid costly financial mistakes. With a clear plan in place, guided by professional insight, you gain peace of mind, improved financial stability, and a more strategic approach to building wealth over time.

Consider Homeownership

When you buy a home instead of renting, you build equity over time, turning your monthly payments into an investment rather than just an expense. Owning a home also gives you more control and stability, as you can make changes to suit your preferences without needing a landlord’s approval. Additionally, homeownership can provide tax benefits, such as deductions on mortgage interest and property taxes, potentially saving you money each year. Finally, buying a home allows you to settle into a community and enjoy the security of having a permanent place to call your own.

Achieving financial stability with smart money moves is a continuous process, one that rewards consistent effort and mindful planning. By integrating these practices into your daily life, you’re not just securing your finances; you’re fostering a sense of confidence and resilience that extends beyond money. Staying on track financially allows you to focus on what truly matters, providing peace of mind and opening doors to new opportunities. As you refine your approach and adapt to new goals, remember that every small step taken today builds a more secure and fulfilling future.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

What are your thoughts on Smart Money Moves? Let me know in the comments below.

Find practical tips and inspiration for a healthier, more fulfilling lifestyle at Fresh Life Advice.

Is Income Proof Mandatory for Buying a Term Insurance Plan?

Is Income Proof Mandatory for Buying a Term Insurance Plan

Is Income Proof Mandatory for Buying a Term Insurance Plan?

Welcome to the 18th FLA Guest Blog Post! Today, we explore Buying a Term Insurance Plan. Thank you to Pushpinder from Canadian LIC for sharing this helpful article.

Canadian LIC is the Most Trusted Insurance Broker in Canada.

Bearing the right technical knowledge of all formalities and applicable legalities, they can help you get the right Insurance Advice that you are looking for. Out of the many Protects available in the market an Expert Insurance Broker is a necessity if you want to have a quick and efficient plan to fulfill your purpose.

They aim to provide you the right Protect knowledge which you look for in a Proficient Insurance Adviser. Other than Super Visa Insurance, they also have a proficiency in Life Insurance. Having chosen them, they can assure you as well as insure you with their best.

Why People Choose Canadian LIC? They’re There For The Bad Times. The Good Ones, Too. And For All The Moments in Between, They’re with You.

This is probably one of the most simplistic and least expensive ways to secure a financial future for your family in case something happens to you. Perhaps it feels that everyone has always known at least one person who bought a term insurance plan. Now, one of the most common questions that people ask when considering buying a term insurance plan is: “Is income proof mandatory for buying a term insurance plan?”

The short answer is: It depends. Generally, though income proof isn’t strictly required on every Term Life Insurance application, it remains one of the most common requirements that insurers use to estimate how much coverage you need and whether you can afford premium payments. In this post, we are going to look into why it’s most often required, the situations where it’s least likely to be required, and how to buy Term Life Insurance online hassle-free.

Understanding the Purpose of Term Life Insurance Policies

Term life insures you for a set term of time; for instance, 10, 20, 30 years, and can be extended even farther based on your needs. If the term of the policy is ongoing and you die, it pays a death benefit to the people whom you have named as beneficiaries. Unlike permanent life insurance, term life does not build up any cash value and will lapse at the end of the term unless renewed.

The level of coverage you wish to purchase generally relates to what your income and financial obligations may be. Term Life Insurance is often designed to be used to replace lost income, to pay off outstanding debts, including mortgages, or to provide for living expenses remaining for your family members after you are gone, which makes income relevant to how much coverage is sufficient.

Why Do Insurance Companies Ask for Income Proof?

One of the primary reasons that insurers commonly require proof of income is to verify your capacity to pay premiums and set coverage levels. Your life insurance coverage needs are typically determined by multiplying your annual income by a multiple. For example, while a standard rule of thumb advises buying coverage equal to 10 to 12 times your annual income, this number can differ significantly. It uses income proof to ensure the death benefit serves a correct ratio to your present financial situation and responsibility.

Now, here’s why income proof may be necessary:

  • Affordability Assessment: Insurers want to ensure that you can comfortably afford the premiums. This is particularly important for Term Life Insurance Policies with higher coverage amounts. Providing income proof, such as pay stubs, tax returns, or financial statements, helps the insurer assess whether the premium payments fit within your financial means.
  • Preventing Over-Insurance: Insurers need to make sure you are not purchasing more coverage than you genuinely need. Over-insuring yourself could lead to situations where the death benefit far exceeds your financial contributions, which can raise concerns about the legitimacy of the policy. Income proof helps insurers offer appropriate coverage limits based on your income.
  • Determining Coverage Needs: Life insurance policies are typically meant to replace income, pay off debts, or cover expenses like children’s education. Your income level plays a role in calculating how much coverage you need. Without income proof, insurers may find it challenging to assess your true insurance needs.
  • Regulatory Compliance: Some insurers may be required by law to ensure that their customers are appropriately insured based on their income levels. In these cases, income verification is used to comply with regulatory standards.
Image Source: Are You Covered? via Free Pik

Situations Where Income Proof Might Not Be Required

While income proof is often requested, there are scenarios where it may not be mandatory. These include:

  • Lower Coverage Amounts: For Term Life Insurance Policies with lower death benefits (usually under a certain threshold), insurers might not require income proof. This is because the financial risk to the insurer is smaller, and the premium amounts are generally more affordable.
  • No-Medical-Exam Policies: Some insurers offer no-medical-exam life insurance policies, which tend to be more accessible for people who don’t want to go through the hassle of underwriting. These policies might also forgo the need for income proof. However, it’s important to note that these policies typically come with higher premiums and lower coverage amounts.
  • Simplified Issue Policies: Simplified issue policies often have minimal requirements. These types of policies are designed to provide quicker coverage with fewer questions asked, which may include skipping income verification. While these policies may not offer as much coverage, they are an option for those who prefer a faster, less invasive application process.
  • Group Term Insurance: If you’re getting Term Life Insurance through your employer, income proof is generally not required. Group policies often have standardized coverage amounts based on job title or salary, and the application process is simpler because of the group nature of the plan.

How to Buy Term Life Insurance Online Without Income Proof

In the present digital world, it has become quite easy to purchase Term Life Insurance online. Most insurance service providers provide simplified steps enabling you to get Term Life Insurance Quotes, fill in an application form and receive approval from the home comfort zone.

If you would like to purchase Term Life Insurance online without requesting proof of income, you will be able to do so in the following ways:

  • Look for Simplified Issue or No-Medical-Exam Policies: Some insurers offer simplified issue policies that may not require income verification or a medical exam. These policies generally have lower coverage amounts, but if you’re only seeking basic protection, this could be an ideal option.
  • Choose Lower Coverage: If you want to avoid providing income proof, opting for a lower coverage amount could help. Policies with smaller death benefits are less likely to require detailed financial information, making the application process smoother.
  • Use Online Comparison Tools: Many insurance providers offer easy-to-use tools that allow you to compare Term Life Insurance Quotes online. You can adjust the coverage amount, term length, and other factors to see how they affect your premiums. This gives you a clear understanding of what you can afford and how much coverage you can get without needing to submit income proof.
  • Read the Fine Print: While applying for life insurance online may seem quick and easy, it’s essential to carefully review the policy terms and conditions. Some insurers may waive income proof requirements during the initial application but ask for it later during underwriting, especially for higher coverage amounts.
illustration-people-with-insurance-policy
Image Source: Insurance Policy via Free Pik

What Happens if You Don’t Have Income Proof?

If you do not have formal proof of income, such as if you are a sole proprietor, a freelancer, or temporarily unemployed, you will still be eligible for term insurance. This is how you can work through this:

  • Alternative Proof of Financial Status: If you don’t have pay stubs or a salary, you can provide alternative documents such as tax returns, bank statements, or profit-and-loss statements if you’re self-employed. Insurers are generally flexible with what they accept as income proof, as long as it reflects your financial status accurately.
  • Family Contributions: Some insurers might consider household income if you’re part of a dual-income family. Even if your individual income isn’t sufficient for higher coverage, combining household income may allow you to qualify for a policy that provides adequate protection.
  • Opt for a Lower Coverage Amount: If providing income proof is a challenge, selecting a lower coverage amount that doesn’t require it is another option. You can always review and increase your coverage later if your financial situation changes.
  • Discuss with the Insurer: Some insurers may allow flexibility with income verification if you explain your situation. For example, if you have significant assets or investments, insurers may be willing to accept asset proof in place of income documents.

Why Providing Income Proof Might Be in Your Best Interest

Even though providing income proof may feel like an inconvenience, doing so can be beneficial in ensuring you get the right amount of coverage. Here’s why:

  • Accurate Coverage: When you provide income proof, you’re allowing the insurer to recommend the best coverage for your financial situation. This helps ensure that your family will have enough financial support in the event of your death.
  • Avoiding Underinsurance: By sharing your income information, the insurer can calculate a coverage amount that reflects your actual financial needs. This prevents you from being underinsured, which could leave your loved ones with financial gaps.
  • Getting Competitive Premiums: With more accurate financial information, you might qualify for better premiums. Insurers often provide better rates to individuals who can demonstrate stable income and financial responsibility.

How to Choose the Right Term Life Insurance Plan

When choosing between different Term Life Insurance Policies, you’ll want to consider several factors:

  • Coverage Amount: Make sure the policy provides enough to cover your family’s needs, whether it’s paying off a mortgage, covering daily expenses, or saving for education.
  • Term Length: Choose a term that aligns with your financial obligations. If you have young children, you may want coverage until they finish college. If you have a mortgage, choose a term that matches the remaining years on your loan.
  • Premiums: Compare Term Life Insurance Quotes online to find a premium that fits your budget. While lower premiums might seem attractive, be sure they align with your coverage needs.
  • Additional Benefits: Some Term Life Insurance plans offer riders that provide extra coverage for critical illness, disability, or accidental death. Consider whether these add-ons would be beneficial for your situation.
  • Renewability: If you think your insurance needs might change, look for a policy that allows for renewals or conversion to a permanent policy without additional underwriting.

Final Thoughts

While income proof is not strictly required when buying Term Life Insurance, this documentation is often requested by the insurer in order to determine whether you have proper coverage and whether you can pay the premium amounts. You will more likely get a policy that suits your actual financial needs and is well-protected if you give your income proof.

Other available products that riders could consider and avoid income verification include: coverage amounts smaller than what the client needs; issue annuities without medical evidence; and no-medical-exam policies. These might come, though, with trade-offs in terms of higher premiums or limited coverage.

Whether to bring income proof or choose an easier application process, the bottom line is to get a Term Life Insurance Policy bringing financial security to your family.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

What are your thoughts on Income Proof and Term Life Insurance? Let me know in the comments below.

For fresh perspectives on personal finance, visit Fresh Life Advice today!

Thriving on Passion: How to Build a Profitable Business from Your Hobby

Thriving on Passion_ How to Build a Profitable Business from Your Hobby

How do you thrive on your passion? How can you build a profitable business from your hobby?

Thriving on your passion and turning a hobby into a profitable business requires focus, consistency, and strategy. First, start by identifying your unique strengths and how your passion fills a gap or meets a need in the market. Next, build skills around your hobby, and start small by testing your products or services with a limited audience. Gradually scale up by expanding your reach through marketing, networking, and refining your business model. Finally, establish a clear brand identity and always prioritize quality to differentiate yourself, which helps attract loyal customers.

Welcome to the 17th FLA Guest Blog Post! Today, we explore building a profitable business from your hobby. Thank you to Kylie from Live Passive for sharing this helpful article.

Kylie Eckerd is the creator of Live Passive. She makes the most of her gig economy income by investing in developing passive income streams and loves helping others find ways to improve their lives. She created Live Passive because she believes that financial independence is key to true happiness. Kylie also enjoys dancing, spending time with her family and friends, traveling, and reading.

Live Passive will help create a life of financial balance and fulfillment.

Turning a hobby into a business is an exciting step that requires thoughtful planning and preparation. Understanding how to navigate this transition can help you transform a personal passion into a sustainable venture. By approaching it strategically, you can turn what you love into a profitable opportunity. Fresh Life Advice offers these tips.

Establishing a Distinctive Edge

In a competitive landscape, the ability to stand out hinges on identifying and capitalizing on what makes your business unique. Business News Daily notes that diving deep into the core of your hobby-turned-business is essential to discover attributes or offerings that differentiate you from others. Whether it’s delivering a service with a personal touch unmatched by others, possessing expertise in a rare skill, or addressing the needs of a niche market overlooked by the mainstream, these unique qualities are your business’s beacon.

Conducting Market Research

Conducting market research is essential when turning a hobby into a business, as it helps you understand the demand for your products or services and identify your target audience. Researching your competitors, analyzing trends, and gathering feedback from potential customers can provide valuable insights into pricing strategies and product development. Additionally, understanding market size and customer preferences ensures you’re meeting needs and positioning your business for success.

Market Research
Image Source: Market Research via Free Pik

Skill Enhancement and Knowledge Acquisition

Going back to school to earn an online degree is a great way to sharpen your skills and stay competitive in your field. For example, by earning a computer science degree, you can build expertise in IT, programming, and computer science theory, opening up new opportunities for growth. Earning an online degree allows you the flexibility to learn while continuing to run your business. If you’re considering this option, take a look at this path to enhance your professional capabilities without sacrificing your current responsibilities.

Crafting a Profitable Pricing Strategy

Mastering the art of pricing is critical for any business aiming to strike the right balance between being competitive and profitable. Conducting comprehensive market research is a foundational step in understanding the pricing dynamics within your industry and assessing what your target market is willing to spend. This research should consider your direct costs, the profit margin you aim to achieve, and the intrinsic value your products or services offer. By integrating these factors, the U.S. Chamber of Commerce points out that you can develop a pricing strategy that supports your business’s financial health. As a result, this will also resonate with your target audience.

Pricing Strategy
Image Source: Pricing Strategy via Free Pik

Pinpointing Your Ideal Customer

Identifying your target market is foundational in crafting effective marketing strategies. This process involves thoroughly analyzing potential customers’ demographics, interests, and the challenges they face. By understanding these elements, you can tailor your products or services to better meet their specific needs. This targeted approach ensures that your offerings are relevant and helps build a loyal customer base that feels understood and catered to.

Leveraging Writing for Business Growth

For individuals with writing talent, this skill can serve as a powerful tool to captivate and grow your audience. Engaging in writing high-quality blog posts, compelling social media content, or informative newsletters can showcase your expertise and connect with your audience on a deeper level. This content not only provides value to your readers but also helps in building a strong brand presence online.

The Cornerstone of Success: A Robust Business Plan

Developing a comprehensive business plan is the cornerstone of launching and growing a successful business. For example, this document should outline your business goals, strategies for achieving them, financial projections, and the milestones you aim to hit along the way. Albeit, a well-structured business plan serves multiple purposes: it acts as a roadmap for your business journey, a tool for monitoring progress, and a persuasive document for attracting potential investors or partners. By clearly articulating your business vision, strategies, and financial expectations, you demonstrate the viability and potential of your business endeavor.

Conclusion

To conclude, turning a hobby into a business can be a rewarding way to pursue your passion while generating income. With careful planning and a strong understanding of your market, you can transform your interests into a thriving venture. The key is to stay adaptable and focused, ensuring that your business remains aligned with both your goals and the needs of your audience.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

What are your thoughts on Building a Business from your Hobby? Let me know in the comments below.

For fresh perspectives on personal finance, visit Fresh Life Advice today!

Can You Retire Early and Still Afford to Have Children?

Can You Retire Early and Still Afford to Have Children

Can You Retire Early and Still Afford to Have Children? Retiring early is a dream for many, offering the promise of freedom and time to pursue passions and interests. However, the prospect of early retirement becomes significantly more complex when you factor in the desire to have children. Children come with a multitude of expenses, both expected and unexpected, that can challenge even the most meticulously planned financial strategies. So, can you retire early and still afford to have children? Let’s find out.

Welcome to the 16th FLA Guest Blog Post! Today, we explore the financial considerations, strategies, and potential trade-offs involved with retiring early with children. Thank you to Andrew from Gauss Money for sharing this helpful article.

Andrew helped develop a fintech app for paying off debt. He thought my readers might be interested to hear more about how to use Chat GPT for their personal finances. Recently, Gauss Money purchased the rights for their GPT tool that is 100% free to users, and has been created with the inputs needed to support even the most complex financial questions. They call it ChatPF (personal finance).

They’ve gained a lot interest from users dropping in all of their debts to create an optimized budget and payoff plan. They can answer which debts to pay off first and what strategies are the best for your specific budgets, goals, and debt amounts.

Gauss improves your credit score in most cases. Gauss prevents late payments and reduces the amount of debt on your cards, reducing their utilization, which has a great positive effect on your credit score. You can improve the score further by paying on time to Gauss. No fees are charged if you’re late with your repayments to Gauss, but your credit score will be negatively affected.

The concept of retiring early has been gaining popularity over the years. More and more people are aiming to reach financial independence at a young age, allowing them to retire from the typical 9-5 job and spend their time as they wish. However, this goal becomes more complex when one considers starting a family. The arrival of children can significantly alter one’s financial landscape, making early retirement seem far-fetched.

The question then arises: Can you retire early and still afford to have children? This blog post aims to delve into this topic, unraveling the financial intricacies involved and providing guidance on how to balance parenthood with early retirement.

Defining Early Retirement: What Does it Mean?

Early retirement is a financial concept where individuals aim to achieve financial independence at a younger age than the traditional retirement age of 65. This means having enough money saved and invested to cover living expenses for the rest of one’s life.

However, early retirement doesn’t necessarily mean stopping work completely. For many, it means leaving their traditional jobs and pursuing their passions, starting their own business, or simply enjoying more leisure time. It’s about having the financial freedom to make choices that aren’t solely based on monetary concerns.

The Financial Implications of Having Children

1. Cost of Raising a Child

Having children is one of life’s most rewarding experiences, but it’s also a significant financial undertaking. One of the first factors to consider is the cost of raising a child. According to the U.S. Department of Agriculture, the average cost of raising a child from birth to age 17 is approximately $233,610, not including college expenses . This figure encompasses housing, food, transportation, healthcare, education, clothing, childcare, and other necessities. The cost can vary widely depending on your location, lifestyle, and the number of children you have.

Cost of Raising a Child USDA
Image Source: The Cost of Raising a Child via USDA

2. Healthcare Expenses

Healthcare costs are another significant concern. Prenatal care, childbirth, pediatric care, and routine medical expenses can add up quickly. According to the Peterson-Kaiser Health System Tracker, the average cost of childbirth in the U.S. is around $4,500 with insurance, but this can rise substantially without coverage . Additionally, ongoing healthcare costs, including insurance premiums, copays, and out-of-pocket expenses, need to be factored into your budget.

Securing comprehensive health insurance is vital. Without employer-sponsored insurance, you’ll need to find alternative coverage options. Consider:

  • Affordable Care Act (ACA) Plans: These plans can provide coverage if you retire before becoming eligible for Medicare at age 65.
  • Health Savings Account (HSA): If you have a high-deductible health plan, an HSA can help cover medical expenses with pre-tax dollars.

3. Education Costs

Education is a major expense that can impact your retirement plans. While public education is free, many parents choose private schooling or extracurricular activities that can be costly. Moreover, the rising cost of college education is a significant concern. The College Board reports that the average annual cost of tuition, fees, and room and board for a four-year private college is close to $50,000.

The financial responsibility extends beyond these immediate costs. As a parent, you may also want to consider future expenses such as higher education, wedding costs, and even helping your child buy their first home.

Balancing Early Retirement and Parenthood

Balancing early retirement and parenthood is indeed a financial tightrope walk, but it’s not impossible. It requires careful planning, disciplined saving, and sensible investing.

One of the key aspects of this balance is understanding that your financial goals will need to be flexible. The cost of raising children can be unpredictable, with unexpected expenses cropping up regularly. This means your early retirement plan needs to have enough buffer to accommodate these uncertainties.

Strategies for Financial Planning: Can You Retire Early and Still Afford to Have Children?

To retire early and still afford to have children, you need to have a solid financial plan in place. This plan should include aggressive saving, smart investing, and meticulous budgeting.

Consider using a retirement calculator to figure out how much you need to save for early retirement. Factor in the costs of raising children, as well as your expected income, expenses, and lifestyle choices.

Cost of a Child BLS
Image Source: Cost of a Child via BLS and Brookings Institute

The Role of Savings and Investments in Early Retirement

The foundation of early retirement is a robust savings and investment plan. The sooner you start saving and investing, the more time your money has to grow.

Investing in a diversified portfolio can help grow your savings exponentially over time, thanks to the power of compound interest.

A well-thought-out investment strategy is crucial. Consider the following:

1. Diversify Investments

Diversify your portfolio to balance risk and reward. This includes stocks, bonds, real estate, and other assets.

2. Tax-Advantaged Accounts

Utilize tax-advantaged accounts such as 401(k)s, IRAs, and 529 college savings plans. These accounts can provide significant tax benefits and help grow your savings more efficiently.

3. Passive Income Streams

Develop passive income streams, such as rental properties or dividend-paying stocks, to supplement your retirement income.

How to Budget for Children while Planning for Early Retirement

Budgeting is crucial when planning for early retirement and raising children. You’ll need to account for everything from routine expenses, like diapers and food, to larger costs, like education and healthcare.

It’s essential to create a detailed budget and stick to it as much as possible. Remember to also include potential future expenses and a buffer for unexpected costs.

Success Stories: People who Retired Early and Still Afford to Have Children

While it may seem daunting, there are numerous success stories of people who’ve managed to retire early and still afford to have children.

For instance, a couple known as the “Frugalwoods” managed to retire in their early thirties while raising two children. They achieved this by living frugally, saving aggressively, and investing wisely.

Expert Advice on Early Retirement and Having Children

Financial experts advise that the key to retiring early while having children is starting as early as possible. The earlier you start planning and saving, the more time your money has to grow.

Experts also suggest considering side hustles or passive income streams to supplement your savings. This could be anything from real estate investing to writing a blog or selling handmade goods.

1. Downsizing

Downsizing your home or lifestyle can free up significant financial resources. Moving to a smaller home, a less expensive area, or even a different country with a lower cost of living can make early retirement more feasible.

2. Frugal Living

Adopting a frugal lifestyle can help stretch your retirement savings. This doesn’t mean sacrificing quality of life but rather making conscious spending choices. Prioritize experiences over material possessions, find cost-effective hobbies, and seek out free or low-cost entertainment options.

3. Part-time Work or Side Gigs

Many early retirees find that part-time work or side gigs provide a valuable income stream and personal fulfillment. This can be especially helpful if you face unexpected expenses or if your investments don’t perform as expected.

Psychological and Emotional Considerations

1. Balancing Time and Attention

One of the key benefits of early retirement is the ability to spend more time with your children. However, balancing this time with personal pursuits and self-care is crucial. Ensure you have a support system in place, such as a partner, family members, or community resources, to help manage parenting responsibilities.

2. Social Connections

Retiring early can sometimes lead to feelings of isolation, especially if your social circle is still working. Building and maintaining social connections through community involvement, hobbies, or volunteering can enhance your emotional well-being and provide a support network.

3. Long-term Planning

Think long-term about your goals and aspirations for both retirement and parenthood. This includes planning for your children’s milestones, your own personal growth, and ensuring your financial plan can adapt to changing circumstances.

Conclusion: Is Early Retirement with Children a Feasible Plan?

In conclusion, retiring early while having children is indeed a feasible plan, but it requires careful planning, disciplined savings, and smart investing. It’s all about setting clear financial goals, sticking to a budget, and being prepared for unexpected expenses.

While it may seem like a challenging path, with the right strategies in place, you can achieve financial independence and enjoy the joys of parenthood. Remember, the key is to start planning as early as possible and to stay disciplined and focused on your financial goals.

By understanding the financial implications, implementing a robust investment strategy, and being willing to make lifestyle adjustments, you can create a fulfilling retirement while providing for your children. Ultimately, the key lies in balancing your financial resources, time, and emotional energy to ensure a rewarding experience for both you and your family.

Do you have unpaid credit cards?

Gauss money can help pay off your credit cards easily. Pay off any credit card balance using a low-interest credit line from Gauss. You’ll save with a lower APR and you can pay off balances faster. Gauss offers no annual fees, no origination fees, and no fees of any kind. Check out Gauss for a lower APR today to maximize your credit cards.

Additionally, use tools like the credit card payoff calculator to visualize your progress overtime, and get insights into how much you should put towards your debt to achieve your debt free date. Gauss’ debt payoff calculator and debt tracker is 100% free to use via Gauss’ website or mobile app.

Give yourself some credit with Gauss Credit Builder. Start building credit in just a couple of days not months.

Disclosure: Fresh Life Advice is an opinion-based website. I am not a financial advisor, and the opinions on this site should not be considered financial advice.

What are your thoughts on Children and Early Retirement? Let me know in the comments below.

Top 10 Best Money Blogs To Improve Your Personal Finance Knowledge

Top 10 Favorite Money Bloggers To Improve Your Personal Finance Knowledge

As the holiday season is finally here, Fresh Life Advice is giving you all presents. I present to you my favorite top 10 best money blogs to improve your personal finance knowledge.

Collectively, these best money blogs incorporate topics on investing, retirement, estate planning, budgeting, saving, estate planning, mortgages, and many more money related subjects. Their articles are packed with information that keep you stimulated throughout your own personal finance journey.

“If I have seen further, it is by standing on the shoulders of giants.”

-Isaac Newton, Mathematician

What was Newton referring to?

He had the brilliant idea of using knowledge bestowed upon him by great thinkers of previous generations and utilizing their fundamental principles to propel his own understanding to a higher level.

We can apply this same philosophy to personal finance. As you read about me, you know that I’m always looking to learn and advance. Consistent success and growth stem from constant self-improvement.

As you follow FLA through my expedition to early retirement, I will make plenty of mistakes. Inevitable mistakes.

Expectations vs Reality Top 10 Favorite Money Bloggers

The wise ones with plenty of experience are aware that the path to success is not a straight line. It’s a zig-zag, circular, loop-de-loop type of path that will lead to failure after failure after failure. But the successful ones do not succumb to such intimidating obstacles in their way. They continually battle and never give up. This has been one of the most important lessons I have ever learned.

As I’m always learning and reading, I would like to share with you some of my favorite finance and money blogs that I religiously read. Some of these people have already achieved financial freedom. They represent role models that show you early retirement has been done before or will be completed. Myth debunked.

Fresh Life Advice, on the other hand, is trying to give you a perspective of the beginning of the journey. I want you to learn from my mistakes so you don’t make the same ones.

 

Top 10 Best Money Blogs

Hopefully, I will be able to collaborate and work with these bloggers in some type of way in the future. The old adage claims that two heads are better than one. Without further ado, below are some of the best money blogs:

1. My Money Wizard – Sean

My Money Wizard commenced in 2015, and I’ve been an avid reader ever since. Sean works as a financial analyst so he does have a background in economics. Whether it’s touting index funds or analyzing the optimal order in which to invest your money, I see many parallels between FLA and The Money Wiz. Sean’s been tracking his net worth every month and is on track to retire by age 35. My Money Wizard is one of the most humble and down-to-Earth blogs you will see in the Personal Finance blogosphere.

2. Budgets Are Sexy – J. Money / Joel

J. Money was one of the first in the game to publicly track his net worth in 2008. With such transparency, this best money blog allows you to track your own net worth alongside J$ to see if you are on pace for your own goals. J. Money made downloadable Excel spreadsheets that will aid with budgeting and net worth tracking. In 2019, J. Money sold the attention-grabbing blog Budgets Are Sexy to The Motley Fool.

Joel has now taken over the blog in 2020 and is one of the most dedicated bloggers I’ve read. Joel wakes up every single day, weekday and weekends, at 5 AM to seize the day. Although this lifestyle may not be for everyone, including his own wife, Joel’s productivity in Los Angeles is through the roof.

3. Millennial Money – Grant Sabatier

Grant’s incredible claim to fame was going from being broke with a balance of $2.26 in his bank account to saving over $1 million in less than 5 years. Grant was earning $50,000 a year in his day job and saving about 20 percent, but he knew it wouldn’t be enough. So he launched a side hustle building websites for law firms, and invested the vast majority of what he made in index funds. Now, Millennial Money has appeared on every major news outlet, and Grant has even gotten to hang out with Rachel Ray to promote his book Financial Freedom.

4. Financial Samurai – Sam Dogen

In 2009, Sam began writing Financial Samurai. Sam did not graduate from any Ivy League school, but he still managed to outwork his competition and got a job for Goldman Sachs out of college. In 1999, he made a $3,000 investment in VCSY and was blessed with a 5,000% return from the Dotcom Bubble. Part of it was luck, but he had done his research, and the big risk paid off immensely. From there, Sam never looked back. He worked his way up the corporate ladder and became a Vice President of his company by age 27. After saving more than 70% of his after-tax income, he was able to retire at age 34 in San Francisco with a net worth of over 2 million dollars. Sam now writes via Financial Samurai for an audience of over 1 million readers every single month. As an expert in negotiating and wealth management, Sam always generates profound posts that make you truly think.

5. Mr. Tako Escapes – Mr. Tako

Mr. Tako is one of the wealthiest bloggers that discusses money. Despite what you would assume, his wife and him did not work on Wall Street, receive a large inheritance, sell stocks before the financial crisis of 2008, or flip real estate. No, in fact, Mr. and Mrs. Tako have just been disciplined investors that have weathered the uneasy storm of harsh financial markets and have worked hard to retire at the age of 38. They now enjoy cooking delicious meals and homeschooling their 2 sons in their home in the Pacific Northwest of the U.S. Mr. Tako often provides insightful commentary and predictions about individual equities. His whole reason for writing Mr. Tako Escapes is to document financial independence and provide a resourceful guide for both of his sons to use when they grow older.

6. Early Retirement Extreme – Jacob Lund Fisker

Jacob is not only the creator of Early Retirement Extreme but also seems to be the founder of the FIRE movement altogether. Mr. Fisker is one of the most frugal people you will read about with expenses so low that he will make you question your own annual purchases. After living a thrifty life as a PhD astrophysicist and biking to all of his destinations, he was able to free himself of Corporate America by the astounding age 33. In his book Early Retirement Extreme, he explains how his smart financial choices and simple living brought him financial freedom at such an early age.

7. Get Rich Slowly – J.D. Roth

Another one of the best money blogs is Get Rich Slowly, authored by J.D. Roth. He is a self-proclaimed “professional nerd, accidental personal-finance expert, dog lover, and whiskey drinker.” With so many personal finance sites on the web, J.D. stood out by documenting his struggles to get out of debt in 2006. The idea behind Get Rich Slowly was to convey that there are no shortcuts to achieving wealth. Everyone wants a get-rich-quick scheme, but J.D. exalted the idea of delayed gratification.

8. Mr. Money Mustache – Pete Adeney

When people think of the FIRE movement and best money blogs, usually Mr. Money Mustache is the first person that comes to mind. Many note Pete’s blog as the first website that got them hooked into the pursuit of Early Retirement. MMM developed an iconic yet simple chart that showed if you started saving more money, you’d be able to cut down your working years by a significant amount of years. This, in turn, saved many people the headache of continually slaving away in the office. Pete was a software engineer who reached total financial independence at the ripe age of 30. After he promptly quit his job, he started a side construction business as a hobby. The man with the wacky blog name now enjoys his freedom fully with his wife and son.

9. Go Curry Cracker! – Jeremy and Winnie

Jeremy and Winnie were able to hit financial independence in their 30’s. Go Curry Cracker and his wife pride themselves on traveling and exploring the world. The Go Curry Cracker site has many travel hacks, tax tips, and great insight to get you the best bang for your buck. By saving and resisting the splurge on unnecessary purchases, this couple now enjoys more annual vacations than they could ever imagine. With a playful yet analytical tone, Go Curry Cracker shows you how you can make the world your adventure too.

10. The Simple Path to Wealth – J.L. Collins

J.L. Collins is a FI blogger that is most noted for The Stock Series. Starting out selling flyswatters door-to-door, he is now an accomplished consultant, speaker, and author of one of the best money blogs. J.L. is also an avid index fund investor and world traveler. Based off of his blog, he’s written a book The Simple Path to Wealth, which chronicles his rags to riches life. J.L. Collins discusses controversial dollar cost averaging (DCA) and other interesting investment strategies on the honest best money blog.

 

Moreover, the Internet is a vast endless space so this list is ever-growing as I read and find more interesting sites along my journey. I’m always looking for new recommendations because an important part of life is the continual pursuit of education and self-growth. With that being said, I cannot limit the list to only 10 websites, so I must also present the honorable mentions for the best money blogs.

 

Best Money Blogs – Honorable Mentions

11. Tic Toc Life – Chris and Jenni

The story of Chris and Jenni stems all the way back to middle school, when they first met. After going to high school and college together, they eventually got married with similar financial goals. Chris and Jenni reached FI at age 33 to retire early at 35. Their goal became a reality. Chris and Jenni offer principals they learned along the way that readers could adapt to their own lives. They even started a Reader’s Fund, which generously donates monthly to non-profits of the blog readers’ choice! This Donor-Advised Fund is something FLA hopes to start too and something other best money blogs should mimic for the greater good.

12. Impersonal Finances – IF

Impersonal Finances is written by a man in his 30’s living in the San Francisco Bay Area. Despite what you may have predicted, he does not work in the tech industry. His blog chronicles how it’s possible to live in one of the most expensive areas in the U.S. but still retire early through consistent investment and constant saving. IF has one of the best senses of humor around that makes personal finance enjoyable to read.

13. Happily Disengaged – Noel

Noel is 2nd generation Chicano union carpenter with a lot of soul. He is not only a veteran of the Iraq War but also has backpacked around the world…twice. Is there anything this blogger can’t do? His travel has given him and his wife a taste of retirement. The site Happily Disengaged talks about consumerism, the corporate rat race, and anything to do with commuting on a freeway. With the eventual dream of living in Spain full time, Noel writes this blog to make both of his daughters proud.

14. Physician on Fire – Lief

If you have a career as a physician, then the Physician on Fire site is for you. Even if you are not a physician, you can learn so much from Lief’s approach towards money and his financial independence journey. He is an anesthesiologist by day, but he makes sure family comes first. PoF is definitely not afraid to speak his mind, and that’s exactly what you want in lieu of the slimy financial advisors that beat around the bush to make a quick buck off of your ignorance. All in all, Lief covers topics from income earning to credit cards and much more. You can look forward to his weekly series The Sunday Best, where he features other refreshing reads from around the personal finance blogosphere.

15. The Savvy Couple – Kelan and Brittany

Founded in 2016, Kelan and Brittany have a mission as The Savvy Couple to help families learn how to budget their money, organize their life, and unlock the freedom to do more of the things they love! This pursuit is simple yet very admirable. Once children are introduced into the mix, expenses and budgeting are thrown to the side, but Kelan and Brittany are there to keep you in line using tools such as the Eisenhower Matrix, automating systems, and outsourcing menial tasks.

16. Financial Fred – Fred

Financial Fred is written by who else, but Fred himself! As a millennial in these fast-paced times, Fred advocates that everyone should become more financially responsible. He loves to read and write about finance, economics, and how emotions affect our decisions. Currently working on his CPA designation, he’s had several management and executive roles within the field of finance. Thus, you can trust that Fred knows what he’s talking about.

17. Reverse The Crush – Graham

In 2016, Graham took a year off from working as a stock broker in Toronto, Canada. He mused and took time to prioritize his financial goals in life. From then on, Reverse The Crush was born. If you’re looking to build income streams through blogging and dividend investing to reach financial independence, then Reverse The Crush is the place to start.

18. Our Intentional Farm – Sean and Simone

No, Sean and Simone do not currently own a farm. But the name Our Intentional Farm is “about planting seeds of intention to reap a well-balanced and joyful life.” With the hopes to inspire and encourage others in similar financial situations, Sean and Simone show you how to keep track and rid yourself of debt. These are compelling articles that are not hypothetical situations. Instead, they represent real-life struggles to learn how to manage finances. The style is relaxed, while the content is rich.

19. The Working At Home Man – Matt

The Working At Home Man name is pretty self-explanatory. Matt has been working from home ever since 2017 only to discover that working from home has many more benefits to working in the office. If you’re looking to live a similar lifestyle, then Matt has plenty of resources to help you on your path to financial independence. The Working At Home Man also publishes monthly updates along with his portfolio progress.

20. Common Cents Lifestyle – Ashley

Common Cents Lifestyle came to life after Ashley found her passion in helping others with personal finance. She currently holds an MBA and has spent her expansive career in the world of finance. Ashley has a great understanding of retirement accounts, insurance, and general business. She even has a successful track record of growing several small businesses to medium-sized business. In her free time, Ashley loves to travel and ski. Not a bad way to spend your free time.

21. Max Out of Pocket – Max

Max Out of Pocket is not just a fun pun. In truth, Max created this blog with a wealth of knowledge from both the healthcare industry and the personal finance space. Armed with answers to every medical question you may have, Max shares information from his experience of working more than a decade in the American healthcare system. Knowing how the corporate world can be rewarding, toxic, and addictive, Max is here to help make your mental and physical life easier.

22. Divs4Jesus – D4J

D4J has one of the most creative names on the list. Some live and die by stock dividends. Dividends have yet to fail D4J. D4J writes the Divs4Jesus blog, including some pretty good stuff about investing. I’ve learned a thing or two from reading this blog, which means it definitely merits inclusion into the best money blogs honorable mentions. He shows how a diversified portfolio of 33 stocks and bonds can provide considerable passive income. For those of you who didn’t know, Jesus’ age at the time of his death was also 33.

23. GenY Money – GYM

GenY Money a fun site that’s chock-full of great material to help you manage your finances. As you probably have guessed from the site name, GYM is a member of Generation Y. She’s here to prove that Gen Y is not entitled, spoiled, and lazy after all. Gen Y can be very good with money, and GYM has all the tips for you to learn. In her 30’s and living in one of the most expensive cities in Vancouver, British Columbia,  Canada, GYM shares net worth updates along the way to the target $1 million goal by age 40.

24. FIRE Your Own Way – Jordan

Jordan is the creator of FIRE Your Own Way. Discovering FIRE is life-altering for many, and the story was no different for Jordan. She was able to save over $200,000 by age of 30 and is now well on her way to retire by 40. As a fellow proponent of experimentation and optimization, Jordan continues exploring for different ways to Financial Independence. Whether you want to retire early or retire eventually, Jordan is there to shed light on the process.

24. Financially free in 10 years – Mr. Robot

Mr. Robot is not actually a robot. Artificial Intelligence running personal finance blogs may become the norm, but humans are still generally the faces behind these sites. Financially free in 10 years is exactly what it sounds like. A Dutch man in his mid-30’s using the pseudonym Mr. Robot works in IT by day and runs this blog at night. Mr. Robot aims to retire at age 55 to enjoy the most of his freedom with his wife Mrs. Robot and child Lil’ Bot in The Netherlands. Like FLA, Mr. Robot also enjoys sports and movies in his free time. Without fail, Mr. Robot is the go-to guy for an obscure movie reference or sound personal finance advice.

25. Poor Choices – Kevin

When I read Kevin’s story, what struck me was the mentality he adopted to take control of his money. That is, he decided to look at his personal life as a business. He looked for ways to lower expenses, increase revenue, and pay down debt. It’s inspiring to read, and he continues to write insightful posts.

 

Fresh Life Advice will keep a running list of the best money blogs that will be continually changing, as this list is not intended to be comprehensive.

Fortunately, I have come to known some of these sites’ creators on a personal basis. I can assure you these people truly do want to spread financial knowledge to as many readers as possible. Readers that are earnestly searching for personal finance knowledge. All of these best money bloggers have a passion for helping others navigate the often confusing world of personal and business finances.

The aforementioned blogs should make for plenty of reading material to keep you busy during the holiday season!  I really hope you learn something interesting from reading all of those amazing money, investing, and personal finance blogs!

If you have any websites or niches that come to mind, please include them in the comment section below. I cannot promise to add them, but I can guarantee I will check them out and read as much as I can.

Happy Holidays and Happy New Year to you and your family!

Which blogs do you frequently read?

Ideal Day of Retirement

Ideal Day of Retirement

What does your ideal day of retirement look like? What’s the perfect day of leisure that you envision?

Early retirement, and retirement in general for that matter, is the dream we fantasize about every so often. Some even obsess over it. Guilty as charged…

The underlying idea is that we may be trying to escape from reality. Maybe it’s that soul-crushing 9-5 job or that abusive relationship or even that condescending boss. Whatever the case may be, you’ve most likely thought about retirement.

It’s human nature to stress over the future. We ultimately want to be happy, each and every single one of us.

But we generally overlook the present. If you were to retire right now, what would it look like? Yes, walk through the scenario with me:

  • You’ve just handed in your resignation letter to your boss [yes, in this hypothetical you’ve already given your 2 weeks’ notice].
  • Your coworkers celebrated with cake [yes, they enjoyed the cake more than the speeches about you].
  • You’ve said your final goodbyes [yes, you’ll only keep in touch with the people who truly matter to you].

Really take a second to imagine. What would your ideal day of retirement look like? Most have the cliché fantasy of lavish vacations to the Bahamas or extravagant parties on yachts. If you can actually afford those without putting yourself into debt, then you certainly do not need to be reading this blog.

Retirement Vacation

A perfect day doesn’t actually cost millions to achieve or require much to make it happen. Contrary to popular belief and how most of the lottery-hungry population makes it out to be, you don’t need to spend money to be happy.

How would you spend your first day of early retirement? You’ve worked so hard in preparation for your financial freedom.

What’s My Ideal Day of Retirement?

Before we start, I’d like to disclose that I’m a night owl. 80% of the population find themselves as intermediate with minor preference for mornings or evenings while the remaining 20% of the population are either true morning people or true night owls. Night owls habitually get a bad rap for being lazy for sleeping in. To my fellow night owls, this is disparaging criticism does not hold much merit because night owls are awake just as long as morning people. The only difference is our body clocks are shifted a couple of hours behind. This stems from genetics, age, and environment.

Now that we’ve got that out of the way…

10:00 AM – Wake up after a full night’s sleep.

10:00 AM to 10:20 AM – Mediate and repeat some positive affirmations. Journal and jot down some goals for the day (i.e. write a new blog post). And of course, make my bed. This small accomplishment always propels the momentum for the day into full swing.

10:20 AM to 11:00 AM – I’m a firm believer that breakfast is the most important meal of the day. I routinely rotate between French toast, eggs, and oatmeal with fruit.

11:00 AM to 12:00 PM – Cross off a couple of goals by crafting new FLA blog posts. My mind will be energized from a hearty breakfast so this should be relatively fulfilling.

12:00 PM to 1:00 PM – Work out. I enjoy weightlifting 4-5 times per week, even with a full time job. Without a full time job, I’ll be able to sleep and recover more to build stronger muscles. On this blog, we talk about money a lot… At the end of the day, money doesn’t mean anything if you aren’t healthy enough to live long and enjoy your luxurious life. Make your health a priority.

1:00 PM to 1:30 PM – As you’ve noticed, I eat quickly just by force of habit. I would take this time to eat an enjoyable lunch. Besides the quintessential bodybuilding chicken, broccoli, and brown rice meal, I frequently like to switch out the proteins and carbs for alternatives like salmon, tuna, steak, and sweet potato, butternut squash, chickpeas and black beans, respectively.

1:30 PM to 2:00 PM – I’ve really never been a big proponent of napping throughout my life. But I’ve come to learn the human body was meant to have a midafternoon nap, according to a new consensus among sleep researchers who are studying the biological rhythms of sleep and alertness. This stems from evolution, where our ancestors would take turns sleeping to always allow someone to be awake to keep the tribe safe from predators. Theoretically, I will be sleeping much more during early retirement, but I’ll just have to experiment to see if naps improve my quality of life.

Task Batching Productivity

2:00 PM to 3:30 PM – While the sun’s still out, I’ll go for a walk. Walking is an extremely underrated activity. Recent studies show that walking as little as two hours per week can help you live longer and reduce the risk of disease. You’ll clear your head, enjoy nature, and also burn calories without even breaking a sweat.

4:00 PM to 6:00 PM – Free time! I will most likely snack on some kind of fruit like an apple, banana, or kiwi while challenging my mind to a puzzle, game of chess, or even Sudoku. Whether it’s learning a new language, volunteering at a soup kitchen, or playing an instrument, I’d like to reserve this time slot for self-improvement.

6:00 PM to 7:00 PM – I enjoy cooking and would love to try out recipes I’ve read about in various cook books. A cook follows a recipe, while a chef creates a meal on the fly. I’d work on transitioning from a cook to a chef. This hour would be solely dedicated to dinner.

8:00 PM to 10:00 PM – As readers of FLA know, I’m a movie buff. I’ve seen over 100 movies in 2020 alone with newfound quarantine time. My favorite genre of movies is thrillers, but I’m always open to seeing obscure titles most people would never think of viewing. This would be classified as time to unwind.

10:00 PM to 11:00 PM – Some of the smartest people on the planet attribute to their success to the books they’ve read. This last hour of the day would be dedicated to reading anything off my book shelf. Matthew Walker’s Why We Sleep ironically helps put me to sleep.

 

Will every day look like this? No, of course not. But it’s a day I am proud of and would be happy to live many times.

When I reveal my plan for early retirement, the number one response I hear from friends, family, and strangers  is:

“Wow, I could never retire early. I would be so bored.”

Well, take a look at my ideal day. I don’t see any boredom. In fact, I see days filled with opportunity and freedom.

When I think of boredom, I think of number-filled spreadsheets, monotonous status update meetings, and microwaved lunches. This is synonymous with the 9-5 corporate life.

Hey, maybe the daily grind is for you. No judgement whatsoever. But I know for a fact that it’s not for me.

 

Cost of Ideal Day of Retirement

Did you notice how little I spent in my hypothetical perfect day of early retirement?

The small things in life consistently make us the happiest. Those mansions, yachts, and fancy cars will inevitably leave you empty on the inside. We wonder why celebrities develop drug addictions and have messy divorces. That’s another story, but the ones we idolize don’t have it figured out. I’m here to remind you to try different things in your own life to make you happy.

I started a list of all the things I would do with unlimited time and some money. I’m always baffled by people who say they are bored. Even with unlimited freedom, I still feel like I wouldn’t have enough time to do everything I want.

Here are some ideas to fill your early retirement days:

  • Teach your kids everything – math, science, finance, programming, hardware, woodworking, cooking, hunting, writing, art, music, etc.
  • Build businesses partner, friends, or even with your kids [I know what you’re thinking – No, I do not condone child labor.]
  • Vacation with your partner – luxurious ones that he or she deserves
  • Act in a play
  • Camp in the outdoors
  • Canoe trips
  • Hunt
  • Start a band – try out a new instrument whether it be guitar, piano, or clarinet
  • Volunteer to help disadvantaged youth
  • Get into woodworking
  • Build and ride old motorcycles
  • Try Brazilian jiu-jitsu – it’s never too late to procure a black belt
  • Work out every day
  • Enter a bodybuilding or powerlifting competition
  • Complete a triathlon
  • Take surfing lessons
  • Become a part time Little League Coach
  • Help any family that is struggling with your time, give them a leg up, but also stick around to guide them

Whatever happens after you achieve financial freedom is ultimately up to you.

Relax

It’s a tough question to ask yourself but absolutely necessary:

What will you do during your ideal day of early retirement?