Spills Spotlight: Volume 8
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Welcome to this month’s Spills Spotlight! This series consists of a roundup of my favorite personal finance blog posts from around the web, publishing on the last day of each month. If you missed last month’s Spotlight, you can check it out here.
Throughout the month I read a couple hundred blog posts and include my favorites here. Spills Spotlight is an opportunity for me to share my favorite posts with my readers, and showcase the work of my fellow bloggers within the personal finance blogging community. I hope you enjoy this series, and feel free to comment with suggestions on which posts should be included in upcoming months!
Financial Advice from 29 Personal Finance Bloggers: A Memo to the Next Generation
by Scott at Making Momentum
So much knowledge collected in this post.
“We can’t perfectly predict what the future holds in terms of the economy and job landscape. However, hopefully we can inspire financial literacy for the next generation of adults.”
Apparently Compound Interest is so Powerful, I’m Now Set for Life
by My Money Wizard
“Our experiment shows that compound interest is probably way more powerful than you or I imagine. Obviously, it caught me by surprise. Don’t let it catch you by surprise. Start taking action today. With just a few years of responsibility early, you can set yourself up for millions of dollars later.”
How to Go From $22K Per Year to Six Figures
by Chief Mom Officer
“Believe in yourself. Be determined. Don’t give up. Start from the bottom and work your way up. All true. But none of it is very helpful.
The same is true of some stories of successful people. You’ll learn that they were struggling, started in the mail room, or were a single mom, and then found success. That’s great – but how? I myself went from making $22,000 per year and community college to a six figure earning MBA.”
Keeping Up With the Mustachians
by Debts to Riches
“Contentment is an internal marker, and depends almost entirely on our own perceptions of ourselves. It’s not about savings rates or net worth. It’s not having everything, or wanting nothing. You can’t math your way to contentment. It doesn’t depend on your job, the amount of money you have in the bank, the car you drive, the contents of your wallet, or your khakis.”
Power is the Ability to Control Your Own Life
by The Escape Artist
“Ralph’s story is not a tale of financial independence. It’s a warning of the dangers of status seeking and lifestyle inflation.
Money is not a magic wand that cures all problems. But, by saving hard, Ralph could have got to financial independence before 41, with the option to walk away from work and focus on repairing his relationships (and his own emotional wellbeing).”
How to Be Smarter With Money: 8 Simple Secrets
by Barking Up the Wrong Tree
“The problem is our behavior. We do dumb things like buying high and selling low or choosing a stock that delivers a solid return — while paying twice that in interest on credit card debt. And if we continue to do dumb things it doesn’t matter what the investment is; we’ll screw it up.
A lot of financial advice is straightforward and simple (“earn more, spend less.”) But then again so is most dieting advice (“eat less, exercise more”) and we just don’t do it. It’s simple — but not easy.”
You Believe You’re a Loser and So You Are
by Half Life Theory
“The first thing that becomes clear is, you need to completely shift your mindset and beliefs to be successful on this journey. You need to DO something completely different from what the majority of people are doing.”
The Scrupulous Saver v. The Savvy Investor
by Trapped in Work
“The steps are: Buy. Hold. Don’t panic. And you will earn what the market gives you.
But you can’t control what that return will be. But you can control how much you consume and how much you save. That is almost entirely within your sphere of control. And that factor—which you control—has a disproportionately large impact on your future wealth and therefore your future Freedom.”
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