Prioritized Living

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6 FIRE Movement Rules That Will Transform Your Money

Note:  This post contains affiliate links.  Read my policy here.

Right now, the FIRE movement is revolutionizing the way that Americans envision retirement.

FIRE — which stands for financial independence, retire early — began with the book Your Money or Your Life, authored by Vicki Robin and Joe Domingez. First published in 1992 and most recently updated in 2018, the book continues to galvanize young adults in particular in pursuing the dream of retirement in their 40s or even 30s.

But retirement for FIRE followers rarely means doing nothing. Instead, it translates to freedom to pursue the kind of work and passions you love instead of working exclusively for the paycheck.

Mr. Money Mustache, a prominent FIRE proponent, states the goal of FIRE as “complete freedom to be the best, most powerful, energetic, happiest, and most generous version of you that you can possibly be.”

Maybe FIRE is something you’d love to pursue yourself. But, even if early retirement isn’t your plan, you can mine some incredible money principles from the FIRE philosophy — principles that can put you on the path to financial health, help you grow your money, and build a secure financial future! [Read more…]

How to Manage (and Master!) Your Money with a Budget Binder

How to Manage (and Master!) Your Money with a Budget Binder

Money is . . . well, it’s messy! And complicated.

Just think about all the pieces that make up your financial life! You may have multiple sources of income, savings accounts, retirement or investment accounts, bills for your home, bills for your family, expenses that are coming up, and things you want to do with your money!

How on earth do you keep it all straight and get it all done?!

A budget binder, like My Budget Binder from Prioritized Living, is an amazing tool for mastering your finances. It takes the mess and stress of money management out of the equation and gets you moving toward your financial dreams.

CLICK HERE to grab your copy of My Budget Binder from Prioritized Living!

Here are just a few of the many things a budget binder can do for you when you incorporate it into your life: [Read more…]

5 Proven Ways to Tidy Up Your Spending

5 Proven Ways to Tidy Up Your Spending

Overspending has never been easier.

In mere seconds from just about anywhere, you can mindlessly type and swipe your way to a pricey online impulse buy. And, surprisingly, overwhelming living expenses aren’t typically to blame for overdoing it with your wallet.

One NerdWallet study found that one in two Americans overspend not out of necessity but for emotional reasons like stress, excitement, and sadness. And the numbers are even greater for younger generations, with two out of three millennials admitting to emotional overspending.

Self-awareness is the first step in avoiding overspending that’s driving you into debt. And if you’ve already taken the time to tidy up your money mindset, you’re well on your way.

But there’s more you can do.

As you know, countless Americans are currently on a mission to declutter their lives and organize their homes, Marie Kondo style. But what if you could tidy up your spending?

Check out these top tips for cleaning up your spending habits: [Read more…]

How to Save Money on Prescription Medications

How to Save Money on Prescriptions

Sticker shock is alive and well at every pharmacy across the country.

Prescription medication is expensive.

Plenty of people shell out continuously to cover treatment for chronic medical conditions. And, other times, getting a prescription is an unpleasant, pricey surprise. Your kid gets an infection. You’re injured in an accident. Or you face an unexpected diagnosis.

In fact, a recent survey by RxSaver found that the average American adult spends $33 each month — that’s $400 a year! — on prescription medication. And kids’ prescriptions add an additional $341 a year to your budget.

Any way you slice it, it feels like your wallet is completely at the mercy of your pharmacist.

So what can you do? How can you ensure that you have the money you need to cover your essential medical costs?

If you want to know how to save money on prescriptions, try these smart strategies for saving what you need and growing what you already have. [Read more…]

How Much Money Should You Have in an Emergency Fund?

How Much Money Should You Have in an Emergency Fund?

Here’s a personal question: How healthy is your savings account looking these days?

Not so good? You’re not alone: A recent survey from GOBankingRates found that 58% of American adults have less than $1000 in savings. And more than half of that groups has zero dollars saved.

Zero!!!

It’s time to change that statistic and get serious about building an emergency fund.

But just how big should your emergency fund be? How do you know what number you should target in that all-important savings account?

Here’s how you can answer that big question with confidence.

[Read more…]

Ready for Tax Time? My TurboTax 2018 Review

Ready for Tax Time? My TurboTax 2018 Review

Note:  This post contains affiliate links.  Read my policy here.

At heart, I am a die-hard numbers nerd. So it’s a fact that I used to find actual enjoyment in creating spreadsheets to calculate the figures I entered on each year’s tax return.

Then life got more complicated.

I got married. We got a house. Had a kid. Started a business. And more. And my spreadsheet became increasingly complicated until it couldn’t keep up with my complex life and an even more complex tax code.

So, several years ago, I finally abandoned my spreadsheet and bought TurboTax to handle my taxes. And I haven’t looked back since.  [Read more…]

How to Plan & Create Your Unique Retirement Adventure

How to Plan and Create Your Unique Retirement Adventure

Your grandparents’ retirement is a thing of the past.

The Employment Benefit Research Institute 2017 Retirement Confidence Study shows that Americans preparing for retirement are planning to do things differently — retire later, keep active, and even continue working to some extent.

A new type of retirement is on the horizon. And, if you’re planning to exit the workforce in 20 to 40 years, your golden years might be the adventure of a lifetime! Here’s a look at how life after retirement is changing and how you can start planning your own unique future . . .   [Read more…]

How to Jump-Start Your Retirement Savings

How to Jump-Start Your Retirement Savings

If you’ve got three or even four decades to go until retirement, saving for that time of your life may be the last thing on your mind. But you’ve actually got the most incredible element on your side — time.

In fact, with the power of compound interest, you’ll be able to get more bang for your contributions than your peers who wait until they’re closing in on retirement age to start really planning and saving.

Of course, wanting to save for retirement and actually doing it are two very different things. When you’re just getting started, it’s easy to feel intimidated by the confusing alphabet soup of terminology — 401(k), 403(b), IRA, Roth SEP, SIMPLE, HSA, and so on.

So I’m demystifying the options for retirement savings. And I’m walking you through the process of kickstarting your journey to a successful future.   [Read more…]

15 Awesome Financial Gifts to Give This Holiday Season

15 Awesome Financial Gifts to Give This Holiday Season

Note:  This post contains affiliate links.  Read my policy here.

With Christmas right around the corner, you may be searching for that perfect gift for the special people in your life. (Or you may be looking to treat yourself to a surprise from Santa!)

Either way, if your gift recipient loves being on top of her finances — or wishes that she were! — this holiday gift guide has got you covered with awesome, budget-friendly presents.

[Read more…]

Should You Save for a Home or Pay Down Student Loans?

Should You Save for a Home or Pay Down Student Loans?

When you’re repaying student loans, it can feel as though you’re frozen in time. After all, if you’re buried under $10k, $25k, or $100k in educational debt, it’s easy to think you have to put the rest of your life on hold.

In fact, according to a recent report from the National Association of Realtors, wannabe homeowners with student loan debt wait seven years longer to buy homes than those without.

But is kicking those loans ASAP while waiting to buy a home really the smartest move you can make? Or is taking your time while amassing a down payment the way to go?

The path you should choose depends on your financial circumstances. Here’s how.  [Read more…]