This reader story come from SB, a regular reader and commenter on GRS. SB writes about personal finance and personal development topics at One Cent at a Time.
Some reader stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income. Want to submit your own reader story? Here’s how.
This is my second guest post at this blog. I am grateful to J.D. and his team’s humble gesture in allowing me to do it. I hope to provide the same value regular writers of this blog provide to you.
This question comes from a regular Get Rich Slowly reader who needs some help making some life-changing decisions. She’s reaching out to the GRS readers for some advice.
Between the two of us, my then-boyfriend and I had a moderate amount of savings. We had both paid off all of our debt – cars, student loans and all credit cards. We were proud of ourselves and felt ahead of other 26-year-olds we knew.
About 25 percent of his savings was in a retirement account and 75 percent in cash. And mine was the opposite, about 75 percent in retirement accounts and 25 percent in cash. When we moved in together we put together a budget with YNAB (which I love and have been using for three years now) and determined how much we could start saving moving forward, now that we had eliminated dual expenses like rent and utilities and significantly decreased things like gas because we wouldn’t be driving 240 miles round trip to see each other every weekend.
Note: This article is from J.D. Roth, who founded Get Rich Slowly in 2006. J.D.’s non-financial writing can be found at More Than Money, where he recently wrote about the regrets of the dying.
On Saturday, I bumped into Rhonda at the local natural food market. Rhonda is one of Kris’s co-workers and friends. I haven’t seen her much since the divorce, although we live only a mile-and-a-half apart. For 20 minutes, she and I stood in the freezer aisle and chatted about life and the neighborhood.
“Do you know any other places to shop for groceries?” I asked. “We like this store, but it’s pretty expensive. I know there’s another market near your house, but its prices don’t seem any better and the food quality is worse.” (This is actually the subject of an already-written but yet-to-be published post I’ve produced for GRS.)
This article is by staff writer Kristin Wong.
One of my money resolutions for 2014 is to switch banks. I’ve been a long-time customer of a big bank that, in recent years, has stood out among headlines that reveal sneaky and unethical business practices. That’s not the only reason I’m switching, but it does help me want to change.
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