October 6, 2007, 7:00 am

Financial Ramblings

by: The Financial Blogger    Category: Financial Rambling
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Another month has gone by and I am older than a year now. I recently turned 26 and that made me think. When we turned 25, my friend and I determined that we would like to be millionaire by the age of 35. While it looks like a dream, we thought that establishing a deadline would not hurt. This month I realized that one year passed by and I did not do much to increase my net worth significantly. It is obvious that I will never reach a net worth of 1M$ by working 9-5 for another nine years. I have to find something else; I have to design a plan. I will surely have to think about it shortly as nine years is very small to accumulate such amount.

Last call for refinancing

As the economy is slowing down, banks credit rules will become stricter. If you have any project you would like financing for, schedule a meeting with your banker right away. As I previously explained, your financial situation might be in good shape but you might not qualify in term of the new credit rules. I think I’ll go for it in the following months as well. Just to make sure I can benefit from my full house value.

Saving money on food?

I recently tried to save money on food by going to a cheaper grocery store which was a total disaster. I ended up saving money on regular articles while wasting more money on junk food. However, I found out another solution. We previously bought a small freezer and decided to fill it up with meat. I went to see a good butcher and I asked for a good price on volume. Then, I bought a full pork and half a beef along with a few pieces of chicken. While the food is absolutely amazing, I do not know yet if I saved money or not. I’ll probably write a full post on this topic once I am able to come to a conclusion.

Carnival picks

I must admit that these carnivals are making me read like there is no tomorrow. I thought I would get enough reading from my MBA but I think I get even more from blogging! My Retirement Blog hosted the 120th Carnival of Personal Finance and highlighted my post on the Emergency Fund. My Two Dollar presented The Festival of Frugality (Is Collecting Social Security Edition, I’ve Paid Twice Already took care of the Carnival of Debt Reduction and The City Unslicker hosted the Carnival of the Capitalists. And my top three for this week is:

#3 Ask for More Money When You’re Offered a Job at Free Money Finance. This is the best position to get what you want. When you are offered a job, ask for the sky, you might be surprised!

#2  Cascading Asset Allocation Method at The Finance Buff (we have the same initials!). It’s a great example for somebody who does not know much about asset allocation.

#1 The Backlash Against Frugality at The Simple Dollar. Being frugal is not that simple, trust me!


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Thanks for picking my post!