January 25, 2008
Now that we are officially debt free, for the moment anyway. We’ve been thinking more about our money. We are a very frugal couple. We have a good emergency savings, small IRA accounts, and a savings for a house down payment. However, with the interest rates dropping so is the rate on our savings accounts. I’ve started doing some reading and investigating on the world of investing and personal finance. I admit that while I’m a fairly intelligent person, I’m completely dumbfounded and almost overwhelmed by the stock market, mutal funds, etc. I honestly want to understand it better, I’m unwilling to just take an advisor’s word on what to do with my hard-earned money. I figure its going to take some time, I may need to take a course or two but I’ll get more comfortable with all these concepts, I hope.
I’ve started reading personal finance and frugality blogs a little more and have found some wonderful references there for books and other websites. If you have a favorite book, website, blog, etc. on personal finance and investing please let me know. I have a great library system here and if they don’t have it I can usually request it from another library.
Also, you have until 5PM (MST) today to enter in my care package giveaway if you are so inclined. Please enter by commenting on that post. Folks outside the US can enter, but I will most likely not include edibles (baked goods) if I ship outside the US due to shipping times and freshness issues.
January 25, 2008 at 11:00 am
I found your site on technorati and read a few of your other posts. Keep up the good work. I just added your RSS feed to my Google News Reader. Looking forward to reading more from you.
Allen Taylor
January 25, 2008 at 11:51 am
Hi, Kate - was just thinking of you last night while I was sorting through my vegetable seeds - the bean seeds from you are there, waiting for warm weather - just like I am!! I imagine it’s been even colder where you are this week - down in the single digits, which is cold for here. But, I’m from northern Wisconsin originally, & I remember what really cold is like (-30 for a high temp plus wind chill!! BRRRR)
Anyway, one of the best financial books to start with is “Your Money or Your Life” by Joe Dominguez & Vicki Robin. I’ve had to buy that book a few times because I’ve lent it out & never got it back!
Stay warm!
Carla in North Idaho
January 26, 2008 at 9:51 am
Carla, I hear ya on the waiting for warm weather! I own “Your Money or Your Life”, its been a long time since I’ve read it and maybe its time I re-read it. When I first read it I just couldn’t grasp the investment advice but I did absorb so many of the other lessons and I credit that book with my frugal and debt free journey.
January 26, 2008 at 10:55 am
Carla, Thanks for your comment on my blog. I have lurked a few times on your blog, but I don’t think I’ve ever commented.
The Prof and I have read Your Money or Your Life. The book had a profound effect on our finances and the way we looked and used money. Another book we read later was The Millionaire Next Door. We’ve read a few others and picked up tips from them, too. I’d say that YMOYL taught me frugal living (yay to Tightwad Gazette, too) and TMND taught me better investing. Fortunately numbers ‘talk’ to The Professor and he talks to me. We live simply and quietly and it doesn’t take a lot of money for us to enjoy ourselves. We walk, ride bikes, read,(knit). When we moved last year we chose less house so we could remain debt free.
February 6, 2008 at 9:18 am
Katie , do you have children ?
February 6, 2008 at 10:09 am
Cheryl, I don’t have children. My husband is 21 years older than me and has 2 grown children and 5 grandchildren.
February 6, 2008 at 6:45 pm
Just wondering as I am trying to get our finances turned around and you gave such good advice but we have three grown children and two of them always seem to need our help, I was wondering if you had encountered these same problems . I love your blog and truly enjoy visiting here .
February 6, 2008 at 6:57 pm
I can understand your concerns. Both Jeff and I have family members who seem to constantly be in financial trouble. We made the decision about 5 years ago, to not lend money, period. We find other ways to help but we don’t lend money ever. We think in the end this has been the best course of action for those folks too - we encourage, we support, we make gifts meaningful to their needs but we don’t enable their poor choices by lending money.
February 7, 2008 at 6:21 am
Very good advice , I think this will be our new motto , thank you very much for listening to me . I feel I have a new outlook now !