Category: Our Finances

Lifting the Lid on Our Personal Finances for Your Enjoyment

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Our Low Cost, No Fuss, DIY Money Management System

So exactly how do frugal weirdos manage their money? I get this question a lot and it makes me realize that, despite the fact that this is ostensibly a “personal finance” blog, I don’t discuss the precise machinations of my personal money management system very often. And the reason for that is quite straightforward: Mr. Frugalwoods and I don’t actually do very much in service of “managing” our money. There’s a misconception that in order...

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Frugality Is A Compounding Game

But it only costs $20! Or $10. Or even just 5 measly bucks. So what’s the big deal? It’s remarkably easy to lull myself into thinking that a couple dollars spent here or there won’t amount to a hill of beans (oh but there are so many things one can cook with a hill of beans… ). When I start to think this way, I remind myself that frugality is a compounding game. Or more accurately, money...

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For the Love of Frugal Hound, Manage Your Money Yourself! (by following The Simple Path to Wealth)

You’ll be shocked to hear this, but before I read JL Collins’ book “The Simple Path to Wealth: Your Road Map to Financial Independence And a Rich, Free Life,” I did not 100% understand the rationale behind my own stock market investments. If you just went into a minor coma upon reading the phrase “stock market investments,” then this post–and this book–are REALLY for you. I too used to zone out anytime someone so much as said the word “stock”...

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You Can’t Frugalize What You Don’t Earn

I’ve always regarded my frugality as a means to afford the things I truly value. Being mindful of spending that doesn’t serve my priorities has been a critical part of enabling my life of passionate pursuit – specifically, my career as a professional actor. But what if what you value in and of itself isn’t very frugal? While Mr. Frugalwoods and I enjoy/attempt to survive our first few months as parents to our daughter, Babywoods,...

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Why We Don’t Micromanage Our Money

Want to guess how much time Mr. Frugalwoods and I spend “managing our money” every month? A whopping 30 minutes. Yes, we are quintessential frugal weirdos and yes, we save over 70% of our income, and yes, we plan to quit our jobs at 33, and yes, we write this “personal finance” blog. But no, we don’t obsess over our finances. Why? There’s nothing to gain by micromanaging our money. Money is happiest as a loner....

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I Used To Be Afraid Of Money, But Things Have Changed

My post today is part of the The Road to Financial Wellness Blog Tour. Over a period of 30 days, the Phroogal team will go to 30 locations to raise awareness about financial empowerment. Today they will be in the Boston area! Our goal is to help people learn about money by starting the conversation. We understand that local conversations can help bring about national awareness. I used to be afraid of money. Not in the...

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How A Year Of Extreme Frugality Changed Us

Last March, Mr. Frugalwoods and I got serious about frugality. You could even say we become hardcore frugal weirdos. To prove it, we launched our Uber Frugal Month experiment. We slashed our already meager spending and started saving more money than we’d ever thought possible while still, you know, eating and bathing (even we have limits, people). We’d hatched our wild early retirement homestead plan and wanted to see just how far we could push...

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Well Hot Damn, Frugality Works! Our 2014 Savings Rate Revealed.

Mr. Frugalwoods and I finally did the arithmetic on our 2014 savings and expenditures (as I’m sure you’re all relieved to know). While in any given month of 2014 we vacillated between saving 65%-82%, our average savings rate for all of 2014 is 71.4%. Woot! How did we determine this savings percentage for the year? I’m so glad you asked! Turns out, that simple number is pretty complicated behind the scenes. There’s no “right way” to calculate your savings, but here’s the Frugalwoods methodology: Calculate our annual...

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10 Shockingly Expensive Things We Own

The Frugalwoods home is primarily outfitted with discount Craigslist deals, garage sale goodies, and of course, great trash finds. If you’re a regular reader, please sit down before continuing to read. Brace yourself: there are a few things Mr. Frugalwoods and I have purchased brand new and, in some instances, not even on sale. GASP. Everyone still breathing? Ok, let’s continue. I thought it would be a revealing exercise to itemize our not so frugal fixtures and...

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11 Frugal Hacks to Stay Warm and Save Money This Winter

Have you turned your heat on yet? After I divulged that Mr. Frugalwoods and I haven’t–and likely won’t until November–I received a number of comments and emails from readers asking that I share our methods for thermostat abstention. We adore the shoulder months of fall and spring when we live totally sans climate control. Heating and air conditioning are money drains and we save a bundle by flat out not turning ours on. Summers are rather mild here in Cambridge, MA...