That Time I Intentionally Overdrew Our Bank Account (photo credit)
An important principle at the heart of successful financial management is “don’t spend more cash than you have on hand.”
Cash flow is important. Run out of cash and bad things can happen… banks charge overdraft fees / businesses charge late fees & interest / Uncle Vinny busts your knee caps…
Why then did I overdraw our bank account this month? On purpose. Twice.
Pilgrim Parade on the Camino de Santiago
GCC – A great way to boost early retirement success rates is to spend a little less in the early years. We did this by traveling in Central America rather than Western Europe, but there are a ton of good value options that are also physically and mentally rewarding. One of them is a dream holiday of mine, to walk the Camino de Santiago in Spain.
I’ve wanted to write about this goal for some time, but wasn’t sure where exactly to start. But then I discovered someone who has walked the Camino, not once, not twice, but FIVE times!!! Who better to help the dream become a reality, for myself and others?
Please welcome today’s guest post author, Miss Mazuma.
Personal Capital – Free Financial Management Tools
Since my college days of living hand to mouth, I’ve tracked every penny I’ve earned and spent. It was a bit necessary if I wanted to have more month than money. At first I used pencil & paper, then a spreadsheet, and eventually Quicken.
Years later, after reading Your Money or Your Life, I began tracking passive / investment income with focus and determination. I added more calculations and pages and charts to my spreadsheet, and eventually started using Mint.com.
I credit this practice of tracking all income, expenses, and investment activity with our ability to optimize our spending and grow net worth. It is hard to overspend or buy frivolous things when the numbers are staring you in the face. There is no pretending and no hoping for the best.
It really doesn’t matter which method of tracking you use, as long as you do so…
After 20+ years of practice and experience, I now rely primarily on Personal Capital to do it all for me. It does everything that my old spreadsheet did in a fraction of the time. It’s great… plus, you know… free.
Disclosure: GCC is a Personal Capital affiliate. If you start using Personal Capital from a link on this page, we may receive compensation. Opinions are my own, and also free. For all of our International readers, sorry, PC is currently US only.
An International Family – 4 Generations
I’m from a good sized family, the oldest of 4 children. I have 9 nieces and nephews. Both parents have 5+ siblings. My Grandmother has 16 grandchildren and 24 great grandchildren, of which I am her favorite. (Obvi)
You can’t pick your family, but I’m fortunate to have been dealt a winning hand. Family is important, and mine is kind and supportive; they’ve been there when times were tough and encouraged me to chase my dreams.
I’ve also done well with my Internet family, the nice people online who look out for my best interests. Some of them are concerned that a nomadic family might not get enough love, as you can see:
“I love my family, I would never abandon them like you did!”
“My siblings and parents visit often, I couldn’t disappear for months at a time just to travel.”
“It is terrible that your child will never have strong relationships with his cousins and grandparents!”
Thanks everyone, you’re the best!
But there is no need to be concerned. Not only is our nomadic family full of happiness and love, we are thriving. Here is why:
Philadelphia (photo from visitphilly.com)
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Recently I mentioned that our upcoming visit to Philadelphia will earn us a few free hotel nights. Several people wrote to ask how that works. Sorry for being too vague.
Thanks to the quarterly IHG Accelerate promotion our 3 nights in Philly will earn over 62,000 IHG Rewards Club points.This is worth over $400 or somewhere between 2 and 3 free nights.
Here are the details: