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I have been doing a fair bit of creative home budgeting this week. And I really get the kick out of it.
My husband love this cheap meal that I made and it cost less than $2.
I talked to one of my good friends yesterday about the great difference between people who started early (20’s) in planing their financial health and those who started planning late (40’s or 50’s). I personally think those who plan early in the early 20’s are most likely into their millionaire journey the times they reach their 40’s and they most certainly will enjoy a higher standard of living in their retirement age than those who start planning late in life. In view of that conversation, I thought all these personal finance carnivals are in fact very good resources for everyone who are looking for higher standard of living later in life.
I am indebted to all the bloggers who contributed very excellent personal articles in these carnivals and I greatly encourage you, my readers, to spend some time reading them. We are living in a very interesting time now, and I do believe we are only seeing the tips of the iceberg in the financial crisis we are going to witness.I am sure the more you learn about personal financial planning and management, the more prepare you are to face the future uncertainty.
Can you really live on $800 annual budget ? When I first read how a single mother who manage to only spend $800 on her annual budget for a family of 4 : JANE4girls $800 Annual Budget For A Family of 4., I nearly fell off my chair :).
My post titled : Schindler’s list’s investment style was included in 2 out of the 3 personal finance and investment carnivals that I have partook this week. And I am pleasantly surprised to receive an email from each of them that my post was included.
I like to thank Pinyo @ Moolanomy on the excellent work that he has put into selecting and compiling a lot of useful posts in relating to personal finance and investing.
We read recession news all over the main stream medias and alternative medias. However, have you experienced it first hand ? I have always lived like a poor so whether it is recession or depression, it does not make a whole lot of difference in my life style.
However, I experienced it first hand this memorial weekend as we took our summer vacation to Highland, North Carolina. There are 3 common things that my spouse and I both love, 1 is God, 2 is book and 3 is travel. Over the span of seven years that we have been married, we have traveled over 27 states in America. One of our family jokes was one that from his late mother , according to her it’s cheaper to travel than see a psychartist and I have to agree with her :). I personally think taking holiday from our normal routine life is very therapeutic. It is a time when I unwind, relax and reflex on life. It is a time when I rejuvenate, recharge and contemplate on new investment strategies. I knew there are a lot of people who are cutting down a lot of activities or stopped buying a lot of things that they used to have and I feel bad that they have to do it that way. But, I do not think I am going to cut down my holiday any time soon because I see the value of holiday in my family life.
How could you resist this, right ?
I personally believe there is a great difference between the mindset of the rich and the poor in saving and investing. The poor spend almost every penny that they have got and then they start to think about saving when they do not have a whole lot to save; the rich think about making more money and continue to live a frugal lifestyle that they are always use to. I personally think it is of higher priority to invest than save during this hyperinflation period.
What is hyperinflation ? According to Wikipeida :
In economics, hyperinflation is inflation that is “out of control,” a condition in which prices increase rapidly as a currency loses its value. Formal definitions vary from a cumulative inflation rate over three years approaching 100% to “inflation exceeding 50% a month.” In informal usage the term is often applied to much lower rates. As a rule of thumb, normal inflation is reported per year, but hyperinflation is often reported for much shorter intervals, often per month.
We are living in a hyperinflation period. Gasoline was $3 just 2 month ago but today it is $3.98, nearly $4. It is an increase of 33% . How much can you save to keep pace with the increase price of goods ?
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