All tagged PocketSmith

Part 2: BUDGET - Financial Independence Series

Part 2: BUDGET - Financial Independence Series

Ruth
Budgeting, FI Series, Net Worth, Debt, Emergency Fund, Investment, KiwiSaver

Budgeting is simply making a plan for your pūtea (money). Although I meet hundreds of people who are keen, motivated and willing to do better with their money, I meet few who are “Oh yay, let’s track our spending and earning each month”. I know. I understand your reluctance, but if you want to grow your wealth, you must do what wealthy people do. And they know how much they earn and spend. So, I’m sorry, there are no shortcuts here; you’ve just got to suck it up and budget anyway. Most will come to enjoy it as I do, simply because it gives me a feeling of control over my life and removes any anxiety around my pūtea. But for some of you, it will always be a chore. So be it! Do it anyway.

Giving Frugality a Workout

Giving Frugality a Workout

Ruth
PocketSmith, Money Education

I was recently writing about Mr. Money Mustache (MMM) for a future blog article on PocketSmith’s blog. One of their customers said they liked the ethos of MMM, but they were still determining if they could get on board with the frugal lengths he goes to save money. They got the point that the more you invest, the greater your future opportunities are, but they were not yet prepared to sacrifice now to make it happen. No sooner had I finished my article than the perfect example of frugality in action landed on my doorstep. That’s what I want to share today.

Easily Track Your Net Worth

Easily Track Your Net Worth

Ruth
Money Education, PocketSmith, Personal Finance

One of the critical behaviours that financially independent Kiwis have in common is that they track their net worth monthly. I’ve “properly” tracked the net worth of my whānau since 2015. I’ve watched it grow from $650,000 to $1,400,000. Tracking my family's net worth has been the most helpful tool in determining whether all the mahi I’m putting into my family's finances is paying off. I want you to track your net worth each month, and this blog post intends to show you how. Like all of my financial behaviours, I keep things relatively basic.

How have YOU improved your financial situation?

How have YOU improved your financial situation?

Ruth
Index Funds, KiwiSaver, Money Education, Retirement, PocketSmith, Sharesies, ETFs, Budgeting

In my last blog post, where I was giving away a bunch of books on personal finance, I gave you two ways to enter. You could either just click enter and get on with your day, or you could take a moment to answer my wide-open question, “Tell me in 100 words or less how you have improved your financial situation”. I honestly thought most people would just enter to win the books without taking the time to write a response. Gosh, was I wrong! My inbox quickly filled up with over 260 fantastic responses, and I’m sharing all of them below. Yep, all of them.

Paying in advance is a far more relaxing way to travel!

Paying in advance is a far more relaxing way to travel!

Ruth
Budgeting, PocketSmith, Saving

I wanted to share the exact costs of a holiday we took in January of this year when we went to Australia and took our first-ever cruise. I went in hugely sceptical of cruising, but I absolutely loved it. We holiday differently from some: Our holiday is fully paid for before we leave. Paying in advance is a far more relaxing way to travel, indeed, the ONLY way to travel, in my opinion.

2022 Review & Net Worth Update

2022 Review & Net Worth Update

Ruth
ETFs, PocketSmith, Sharesight, Simplicity, SmartShares

I’m about to share my 2022 numbers with you. The primary reason is so that you have someone to benchmark against. Because of my blog, I’m lucky that I’m regularly conversing with people interested in discussing personal finances. Those conversations also helped me learn what Jonny and I could improve. Chances are that very few of you have friends and family willing to share their experiences with money to help you learn. Therefore, I’m happy to share ours. Please don’t judge me and my financial position; it’s just information. Use it how you will.

What is my saving and investing rate?

What is my saving and investing rate?

Ruth
PocketSmith, Saving, Investment

Recently, a question came in via email asking, “how do you calculate your savings rate, please, Ruth?”. I thought it was a question worth elaborating on with a blog post. First up, why even take the time to work out how much you are saving? Put simply, the higher your savings rate, the faster you will have saved up enough money to retire or make going to work entirely optional.

Following Mr. Money Mustache’s Simple Strategy to Financial Freedom

Following Mr. Money Mustache’s Simple Strategy to Financial Freedom

Ruth
Index Funds, ETFs, PocketSmith

Back in January 2012, blogger Pete Adeney, aka Mr. Money Mustache, wrote a blog post that changed my life when I eventually discovered it in about 2016-2017. I don’t think I would not be sitting here today, in our position, had I not stumbled upon it. Then his following article explaining the 4% Rule, which he wrote in May of 2012, set our wheels in motion. And these two powerful blog posts have just turned 10.

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