Which one to choose? An extremely personal decision that boils down to tax advantages you want to gain. Always confer with your CPA before making your decisions, but go into the meeting with full knowledge of the differences, benefits, and potential scenarios in which one (or possibly neither!) may be more advantageous. TLDR: it is a spectrum that will change throughout your life.
I'm quite fortunate in that my company is on an annual raise and bonus cycle, which kicks in on January 1st. Every year before the winter holidays, I start preparing for next year's financial plans and goals. That means evaluating my savings goals, one of which is maxing out my 401(k).
In searching for the new limits, the first thing that pulled up was "Should You Even Try to Max Out Your 401(k) in 2023?" The bait worked. I clicked.
Frugality is always relevant, of course.
So much of my successful adventures boiled down to timing. What’s still relevant? Am I just an interesting story, a footnote, riding off into the ether?
To preface, millennials were born between approximately 1980 and 1999. The oldest are mid 40s, and the youngest are in their 20s. It's not just "anyone younger than me."
Count your pennies, and your dollars will count themselves.
I am paid to budget for my company, but when it comes to my own money, I've always found budgets restrictive and unhelpful. Instead, I am all about the Anti-Budget. It's easy to follow, and the focus is on the big picture of working toward your goals and spending within your means.
There are times in life where I have been padding along, existing on autopilot. I need something to shake things up and keep things interesting. Sometimes that's cycling in and out of hobbies, looking at my career, reaching out to friends, or trying something new. This week, it was the Frugal Friends Symposium.
Wonderful as always, Jen and Jill!
Passion projects are so important for mental health and wellness. My Little Free Library project took over our garage and front yard for almost an entire year. Today, I'm excited to share that I was awarded the Todd H. Bol Awards for Outstanding Achievement in recognition of all my hard work spreading books to my community.
Our cat died last week at the ripe old age of 17. I feel the loss, but I am also relieved to no longer be a cat owner. The cat came with my partner, a two-for-one package deal. After five years of cat life, I may not have enjoyed every moment, but I learned a lot from her.
I've been going to book clubs at our local independent bookstore since November. I keep myself organized with a google doc, filling it out for each book club book I've read. It helps me sound far more intelligent and thoughtful than I really am when we meet (before the discussion veers off and we grab lattes next door...)
Physical health is an important part of living your best life. Your body can do amazing things, especially when you treat it well. I've been extremely focused on healthy eating over the last year, and it's made a world of difference on my health and wellness.
The experiment has been a success. It's time for an update after four and a half years of marriage .
I'm quite fortunate in that my company is on an annual raise and bonus cycle, which kicks in on January 1st. Every year before the wint...