Mea Culpa I know, I know, I’m WAY behind in posting on the blog since we started the 9 month world cruise. This trip so far has been an absolute whirlwind and I can only beg forgiveness. I knew this trip was going to be popular on social media. What I was not prepared...
Frugal Living means different things to different people. For me, it is a means to an end. And for all of us, I think is mostly rooted in both how we were raised and our family’s socio-economic status. But it is also a reflection of your personality. It isn’t for...
Today I’m talking about what the Royal Caribbean Ultimate World Cruise is, and what is included in the cruise fare. If you are interested in keeping up with us or the ship, you are definitely going to want to read this update and watch the video below! My husband and...
Our Royal Caribbean Ultimate World Cruise is 56 days away. In some ways it seems forever away, and in some it seems like it's coming up too fast. We have a lot to do still. Every time I think about all of the things I want to get done, I get a little stressed about...
Mea Culpa I know, I know, I’m WAY behind in posting on the blog since we...
Frugal Living means different things to different people. For me, it is a...
Today I’m talking about what the Royal Caribbean Ultimate World Cruise is, and...
Our Royal Caribbean Ultimate World Cruise is 56 days away. In some ways it...
Personal Finance Seven Cures for a Lean Purse for Financial Success and Security
My favorite Personal Finance book is The Richest Man in Babylon. It is simple, timeless, and universal. If you feel like you need Personal Finance lessons, this is a great place to start. Every Personal Finance Guru out there uses variations on the themes in this book. There are a few different themes in this book, but the main theme is “The Seven Cures for a Lean Purse”.
Cure 1: Start thy Purse to Fattening
In the world of Personal Finance, this means to pay yourself first. Put away a minimum of 10% of your income before you spend any of it. This 10% will grow over time and allow you to take advantage of opportunities for investment. You can also use it as an emergency fund. This action has both a practical and psychological impact on your Personal Finance journey. Deciding to save 10% of your income forces you to start paying attention to your finances. There is also a sense of comfort knowing that you have money in the bank.
Cure 2: Control thy Expenditures
This cure makes you take an even closer look at your Personal Finance situation than the first cure. Now you aren’t just saving, you are actively evaluating what spending is necessary. The story cautions about mistaking luxuries for necessities. Most of us have things that might be a luxury and we can’t live without. Is that OK? It depends on your circumstances. I bet all of us have at least one thing that we are paying for that we don’t really need and can easily give up. Controlling your expenses means to live below your means and decide how you can increase your savings.
A Message From LeahB
The mission of the Frugal Vagabond website is to provide helpful information on managing your Personal Finances, to help you set and achieve goals for Early Retirement, and to show how to Travel before you need a walker using the first two items. My husband early retired last year. I am early retiring this year. I have a lifetime fascination and experience with making smart choices with my finances. There may also be some experience with questionable choices. My husband is a more recent scholar of personal finance and has made great strides in the last decade. I plan to share how we made early retirement a reality, and manage our finances. We want to take you on our travel journeys with us as take on early retirement. And show you how we are planning our future.
Whether you are looking for some great travel experiences, tips on how to manage your personal finances, how to get to early retirement, or are just interested in seeing how we plan our trips and all the cool experiences, sign up and join the team!
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