Buy Assets Archives - The Frugal Feline

My Opinion of Dave Ramsey’s Baby Steps

So basic right? What personal finance blogger hasn't written a post about their opinion of Dave Ramsey's Baby Steps? I can almost hear Dave sarcastically mocking the bloggers who debate his baby steps. But honestly, I gotta give it to the man, he's done well. Personally, I think he's created a fairly fool proof (say that 3 times as fast as possible) system for fixing the country's finances. And it all seems to center around his attitude towards debt - Also a hotly debated topic in our country. Anyway, since I have you on the edge of your seat now, allow me to share my opinion…

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March 4, 2022

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Little Habits Over Time

The older I get, the more obvious this little truth is - Little habits, over time. This phrase can be said in a lot of different ways to describe a lot of different things. But it's true. We tend to think life is about these grand gestures or big wins. But the truth is, as we get older, we start to see the power of little habits over time and what they can either create or destroy in our lives. Little Habits, Over Time - Our Finances Yes, what Frugal Feline post would be complete without mentioning our finances. For those of you nerds out there,…

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March 2, 2022

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Interest Rate Arbitrage – Pay Down Debt or Invest?

One of the most fascinating topics that I've come across this year in regard to personal finance is the amount of controversy regarding interest rate arbitrage. Now, arbitrage might not be a word that we use very often so I'll quickly define it here. The simultaneous purchase and sale of equivalent assets or of the same asset in multiple markets in order to exploit a temporary discrepancy in prices. Still kind of confusing, right? What I'm getting at here is the common discussion around whether to eliminate low interest rate consumer debt (think 2.5% car loans or 4% home loans) or invest in the stock market…

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February 2, 2022

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My 2022 Financial Mindset

I spent most of my life knowing what I should be doing with my money. My parents were smart with their money and set a great example. I went through a Dave Ramsey course in my Bible class in high school. I mean, I majored in Finance in college for goodness sake. I had all the knowledge and resources to crush it at personal finance during my 20's. But the reality is that I spent my entire 20's should-ing all over myself only to get married at 28 with not much over $10,000 to my name. When I got married, the game changed. My life was…

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January 26, 2022

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What’s a Roth IRA?

Roth IRAs are a great starting place to get your feet wet in the investing world. But what is a Roth IRA and why would you want to invest in one? These are great questions and in this article I will address both in a digestible level of detail. Let's begin! What's an IRA? Let's start with defining an IRA. An IRA is an acronym for "Individual Retirement Account". Which is, obviously a retirement account for an individual. This is just a bank account that you can put money into. But unlike your checking account which is used to buy beer and hamburgers, this account is…

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July 3, 2021

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Why Most People Fail at Growing Wealth

If you're anything like me and you find yourself wondering why most people fail at growing wealth, I'd encourage you to read this letter below. I came across this letter in a stack of files kept in my grandfathers study. What I know about him is that he loved investing and was always fascinated by the stark differences in the success rates of those who were involved. Trust me it's worth the read. Dear Ronald, I have received your letters regarding your frustration with your inability to generate wealth in the marketplace. I understand your frustration and can sympathize with you. I have spent some time…

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March 29, 2021

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Weekly Spending Review

One of the best things that my wife and I have ever done for our personal finances is a weekly spending review. And it's way more straightforward than you might think. So hang on tight because I'll get right to the point and tell you exactly how to do a productive and efficient weekly spending review. What is a weekly spending review? A weekly spending review is just as it sounds - It's a scheduled weekly meeting with your spouse where you go over your current progress on your monthly budget. As I've mentioned in another post, we use wave accounting software to track all of…

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March 26, 2021

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How Much Do I Need to Retire?

One of the first questions that started to rattle around in my head once I started down this path was - "How much do I need to retire?" How much money do I have to have to be able to stop working for the man and start drawing in my free time. But how few of us actually save for retirement? And of those, how few have a concrete number they're shooting for? I can tell you it's very few because most of us don't actually know how much we need for retirement. So, without further adieu, I'd like to discuss the current method of determining…

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January 6, 2021

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5 Wealth Lessons from The Richest Man in Babylon

We could likely fill our entire lives with literature on building wealth. But there are a few books that seem to not only stand the test of time, but deliver pound for pound on bang for buck. The Richest Man in Babylon by George Clason is a wealth building book that is worth the read. But let's be honest, most people don't read books anymore, so I figured why not share my favorite 5 wealth lessons from the Richest Man in Babylon. 5 Wealth Lessons from The Richest Man in Babylon Bansir is the central character of this book and he is frustrated. He's pissed because…

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January 5, 2021

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Index Funds

I'd like to be very clear from the start. I am not a financial advisor. Nor am I licensed. And I am not a millionaire. Consider the following advice as if it were coming from a good friend. You should not just do what I recommend and understand nothing. Take my thoughts and consider them. Then do research on them. Then make the best decision for yourself and your family. Now, let's talk about how to invest in an index fund. Everyone thinks investing is so hard. But the truth is, investing is the easy part. The hard part is sacrificing today for a better tomorrow.…

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November 30, 2020