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Struggling with money anxiety and finding balance
On Saturday evening, I had a chance to chat with my friends Wally and Jodie. You might remember them from a reader case study from last August. They're the couple that wants to get their finances in order but they're worried because they're starting with less than zero.
When we chatted in August, Wally and Jodie had over $35,000 in debt. They had variable incomes, but somehow seemed to spend exactly what they earned — about $3000 per month after taxes. Worst of all, they were behind on some payments.
Now, eight months later, their situation has improved.
Over smoked German sausage and beer, Wally and Jodie told me about their progress. (My dog, Tahlequah, was eager to take part in the conversation. Or maybe it was the sausage she wanted?)
Why financial literacy fails (and what to do about it)
April is Financial Literacy Month in the United States. This is a pure and noble thing. I think it's great that there's one month each year devoted to promoting smart money habits. That said, it has become increasingly apparent over the years that most financial literacy programs fail. They don't work. And this isn't just me speaking anecdotally.
In a 2014 paper from Management Science, three researchers conducted a “meta-analysis” of 201 prior studies regarding the efficacy of financial literacy. Their conclusion?
Keeping up with the Joneses
It's always fun when disparate worlds of geekdom collide. Today, for instance, I learned that the term “keeping up with the Joneses” — a popular phrase in the realm of personal finance — actually originated in the funny pages.
That's right: “Keeping Up with the Joneses” started out as a newspaper comic strip. As a comics nerd, one who especially loves comic strips, this makes me happy. (Note: For some strips in this post, you can click on the image to open a larger version in a new window.)
This blog is now a teenager: Thirteen years of Get Rich Slowly
Thie middle of April is a Big Deal in my world.
The trees have nearly finished blossoming, which means my allergies will soon go away. We're seeing more of the sun, which means the worst of my seasonal depression is behind me. Yesterday, on the 14th, Kim and I celebrated seven years as a couple. And today, on the 15th, Get Rich Slowly celebrates thirteen years of existence.
That's right: This blog is now a teenager.
In the Beginning
When I started Get Rich Slowly, I had no idea what it was going to become. I had no grand plan or vision. I just wanted to write about money while accomplishing three goals.
Welcome to fifty: My first health scare as a middle-aged man
Three weeks ago today, I had a major health scare.
Because it was Monday, I was at the family box factory. I had just finished running payroll and had taken paychecks out to the shop. I exited the building and *bam* my chest just sort of seized up.
“Ouch,” I thought. But, being a Roth, my thought process didn't go much farther than that. (We Roths don't like doctors and we tend to deal with injuries for weeks or months or years before having them looked at.)
On the way back to the office, I stopped to talk to my cousin Duane. He was digging in the dirt, prepping a spot for his summer garden. We chatted about blueberries, tomatoes, and greenhouses. We admired the warm spring day. After a few minutes, I realized that my chest still hurt.
“I don't want to alarm you,” I said, “but I'm having chest pains. It's probably nothing. But just in case it is something, I thought you should know.”
By the numbers: My spending for March 2019
March was a mixed month in my financial world. I ended March with a slightly higher net worth (up 0.6%) but my spending was the highest it's been this year: $5989.10. Yet, that spending was mostly mindful. I wasn't frittering away money on silly things.
If I wasn't buying dumb stuff, then where did my money go? A few worthwhile places:
Lifestyles of the Rich and Foolish
It's the first of April. You know what that means. Spring is here! Your friends and family are pulling April Fools' Day pranks. And my tree allergies are kicking my butt. Every year, tree pollen makes my life miserable. This year is no different.
Facebook kindly reminded me this morning that three years ago, Kim and I were in Asheville, North Carolina. After wintering in Savannah, Georgia, we'd resumed our tour of the U.S. by RV.
While in Asheville, we toured the Biltmore Estate, the largest home in the U.S. This 250-room chateau contains 179,000 square feet of floor space — including 35 bedrooms, 43 bathrooms, and 65 fireplaces — and originally sat on 195 square miles of land. (Today, the estate “only” contains 8000 acres.)
How to cancel a credit card (without killing your credit score)
I have a credit card I'd like to cancel, but I don't know if I should. I'm afraid it'll hurt my credit score. Today I'm going to walk you through in real time as I evaluate this decision. Then I'm going to explain how to cancel a credit card, no matter why you want to do so.
I normally don't pay much attention to my credit score. I know that it ranges between 800 and 820, so I don't worry about it. With a score like that, I'm considered to have “exceptional credit”, and that's good enough for me. (Kim's very proud that she has a higher credit score than I do, by the way.)
How I learned to stop worrying and love DIY
“Oh good,” Kim said when I rolled out of bed yesterday morning. “I’m glad you’re up.” She gets up at 5:30 for work most days, but I tend to sleep in. Especially during allergy season.
“Huh?” I grunted. It was 6:10 and I was very groggy. My evening allergy meds kick my butt. Plus, I hadn't had my coffee yet.
“Something’s wrong with the bathroom sink,” she said. “Look. It’s leaking. The floor is soaked.” She wasn't kidding. The bathmat was drenched. When I looked under the vanity, I was greeted by a small lake.
“Ugh,” I grunted. This wasn't how I wanted to start my day.
Kim kissed me goodbye and hurried off to work. I pulled on a pair of pants, poured some coffee, pulled out the vanity drawers, and got to work.
My life philosophy: 52 lessons from 52 years
And now we are 52…
On this day in 1969, baby J.D. entered the world. I don't think there's any way my parents could have predicted the path their firstborn would take through life. It hasn't always been easy — no thanks to the obstacles I've placed in my own way — but I've really had a wonderful (and interesting) life, and I look forward to whatever time is left me.
As I do every year here at Get Rich Slowly, I'm going to commemorate my birthday by sharing some of the most important things I've learned during my time on Earth. These are the most important pieces of my life philosophy.
Let's start with a look at the core takeaway from my 52nd year, the newest addition to my life philosophy.
What I Learned During My 52nd Year
This past year, especially, has been an interesting one. I know that's true for the world as a whole, but I personally have experienced a great deal of growth over the last twelve months. It's been a deeply introspective year.
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