Financial on MarkJacobsen.net

This is an embarrassment and should be a crime

Sun, 06 Jul 2025 19:25:00 +0000

From today’s Morning Brew (which you should subscribe to BTW)

Federal minimum wage
2015: $7.25 per hour
2025: $7.25 per hour

Average cost of a home in the US
2015: $366,000
2025: $503,800

2018 Financial Freedom Lessons With Scott & Mindy

Thu, 14 Feb 2019 11:50:28 +0000

If you want to get a years worth of podcast content in 1 show, this is the one to listen to.

2018 Financial Freedom Lessons With Scott & Mindy

How to Retire Forever on a Fixed Chunk of Money

Wed, 06 Feb 2019 02:36:17 +0000

It’s at least worth considering.

The absolute _key _to success in early retirement, and indeed most areas of life, is to get the big picture approximately right and not sweat the small stuff. And design the big picture with a generous **Safety Margin, **which allow lots of slop and mistakes in your original forecasts and allows you to still come out with a surplus.

How to Retire Forever on a Fixed Chunk of Money

A Day In The Life of my Supposedly Frugal Stomach

Tue, 05 Jun 2018 12:24:00 +0000

Another good post by Mr Money Mustache. Probably the biggest thing that jumped out at me was this…

A cost difference of just $1.50 per person per meal, multiplied over a four-person family’s 372 meals per month makes a difference of** $558 per month, or about $96,000 per decade** after compounding.

Which, even if you don’t compound is around $65,000 in a decade.

A Day In The Life of my Supposedly Frugal Stomach

Become an overnight success in 10 short years

Wed, 02 May 2018 10:29:00 +0000

Everyone should listen to this podcast, but especially anyone just starting out.

[Become an overnight success in 10 short years][1][1]: https://www.biggerpockets.com/renewsblog/biggerpockets-money-podcast-12-overnight-success-10-short-years-david-greene/

The world organized by income

Fri, 20 Apr 2018 15:01:00 +0000

Ever forget how fortunate you are? How, to use Warren Buffet’s term, you won the “ovarian lottery”? Watch this and check out the site (dollarstreet.org).

Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

Tue, 10 Apr 2018 12:22:00 +0000

Lots of practical advice and hard work here…

Designing a Frugal But Luxurious FI Life by Age 32 with Liz Thames

Still the Most Important Piece of Financial Advice You’ll Ever Receive

Thu, 05 Apr 2018 11:37:00 +0000

“Of course, simply spending less may not be the solution to every financial problem that we encounter. But it is the solution to most.”

Still the Most Important Piece of Financial Advice You’ll Ever Receive

401(k)s Aren’t ‘Bullshit’

Fri, 23 Mar 2018 10:36:00 +0000

There’s a lot of truth here, just as there is in [Oh Damn, 401(k)s Aren’t Magic][1] …

401(k)s Aren’t ‘Bullshit’[1]: http://markjacobsen.net/2018/02/oh-damn-401ks-arent-magic/

From Disorganized to Debt Free Through Budgeting and Routine

Thu, 01 Mar 2018 15:21:00 +0000

Impressive what this family did! Yet, still achievable my most.

From Disorganized to Debt Free Through Budgeting and Routine with Rosemarie Groner

How to Teach Young Kids Budgeting Habits Early On

Wed, 21 Feb 2018 12:34:00 +0000

From early childhood to the teen years this does a good job of laying out a plan you may want to follow…

[Read the full article here][1][1]: https://lifehacker.com/how-to-teach-young-kids-budgeting-habits-early-on-1528970036

Safety is an Expensive Illusion

Mon, 12 Feb 2018 12:37:00 +0000

If you haven’t heard of Mr Money Mustache yet, let me introduce you…

Read the full article here

Oh Damn, 401(k)s Aren’t Magic

Tue, 06 Feb 2018 13:36:00 +0000

“All of this has always ignored the mathematical fact that scrimping and saving and investing wisely will not save you if you don’t have enough money in the first place. If you are a low-wage worker who cuts your expenses to the bone in order to sock away $500 a year, on which you earn 8%, you will still not go more than a year in retirement without starving to death. The math just doesn’t work. We need to actually give people more money. This is common sense, but is anathema to the sort of magical thinking that says that the root of all poverty is bad decisions by the poor.”

Read the full article: Oh Damn, 401(k)s Aren’t Magic

Warren Buffett’s Best Money Advice

Sun, 10 Dec 2017 22:12:00 +0000

Here’s some of Buffett’s best money advice.

Read the full article here

25 Unnecessary Wastes of Money You Don’t Think About

Thu, 07 Dec 2017 00:06:00 +0000

Another oldie but goodie, and still largely applicable.

Read the full article here

Why You Shouldn’t Use Your Lender’s Biweekly Mortgage Payment Scheme

Mon, 04 Dec 2017 11:24:00 +0000

Paying your mortgage every two weeks instead of monthly could save you tons of money in interest and shave years off your mortgage. However, if your lender offers a payment plan for doing this, you should probably skip it and set it up yourself. Here’s why.

Read the full article here

How to Communicate with Your Partner About Money

Thu, 16 Nov 2017 22:58:00 +0000

Love the perspective here. It would probably behoove me to consider some of this more often…

Recognize your fears
Consider your partners fears
Know your numbers
Make a plan and trust the plan

EP232: How to Communicate with Your Partner About Money

_You can find all my shares on my Facebook Page

Investing in Real Estate with Clayton Morris | EP220: How to Think Like a Wealthy Investor

Sat, 14 Oct 2017 11:03:00 +0000

Love all of this!
Investing in Real Estate with Clayton Morris | EP220: How to Think Like a Wealthy Investor

_You can find all my shares on my Facebook Page

The Internet Is About to Become Worse Than Television #1aDay

Mon, 05 May 2014 12:19:00 +0000

Last week, an obscure but potentially internet-transforming document was leaked from the U.S. Federal Communications Commission. It revealed that government regulators are considering rules that would give big companies a chance to make their online services run faster than smaller ones.

Personally, the thing I like least about it is that it’s easy to see how small/new companies could get screwed and stifle innovation. The other thing that I had not though of until I read this is I trust the cable companies so little that I wouldn’t be surprised if they started “bundling” sites like they do with TV. I don’t need 100 channels! Of course, this is why I don’t have cable TV. Finally, the other thing you should be upset about is the cable companies “double dipping”. They’re already charging insane prices (because usually they have a monopoly in most areas other then major metros), and now they’re also going to start extorting the companies too – what, you didn’t think they’d actually lower your rates when they started charging the companies did you?… Comcrap-Warner wants it’s cake and to eat it too (see the video below – warning: language).

Read the full article here

Comcast Doesn't Give a F*CK from Tarik Ellinger

The Hidden Health Costs of the College Arms Race #1aDay

Thu, 01 May 2014 12:09:00 +0000

Every time I hear stories like this it makes me worry for my kids. While I can be a competitive person there’s always been a release valve buried somewhere deep inside that has been able to say “the work will be there tomorrow” or (when I was in school) “Being first in class doesn’t matter. Just learn the material well enough. There’s always time to dig deeper.”

The question is, how to pass that on while still instilling the discipline and joy of hard work and sacrifice?

Read the full article here

If You’re Not Saving, You’re Losing Out #1aDay

Wed, 30 Apr 2014 12:13:00 +0000

We’re supposedly in a new era of financial sobriety. Yet the evidence suggests otherwise.

Personally, I find this article very scary because at some point someone (unfortunately, it will probably be the responsible) will have to help save the irresponsible.

Need to save money? Here’s a few quick ways anyone can do so…

Get rid of your insanely expensive wireless plan and switch to something reasonable
Get rid of cable TV – there are way better things to do than watch the idiot box
Get rid of all the extra toys (kid and grown-up ones)
Get rid of the gas guzzler

Read the full article here

Why a Big Tax Refund Isn’t as Awesome as You Think #1aDay

Mon, 21 Apr 2014 12:04:00 +0000

With tax season behind us, here’s a little PSA to remind you why a big refund isn’t actually all that great even if it may feel that way. I just need to remind myself of this every time I have to write checks to Uncle Sam 🙂

Read the full article here

Make Your Fridge Last (Almost) Forever With These 8 Tips #1aDay

Fri, 18 Apr 2014 11:47:00 +0000

After the furnace, the most important appliance in your home is probably the refrigerator. It’s also one of the most expensive ones. When you spend $1,000 or more on an item, you want it to last for many years.

How many of these tips have you heard?

Read the full article here

Stop Fooling Yourself With These 7 Money Traps #1aDay

Thu, 17 Apr 2014 12:18:00 +0000

What are the 7 traps?

Mental Accounting – Treating some money as more special than other money based on subjective criteria, such as how it will be spent or where it came from.
The “Anchoring” Effect – Estimating the value of something based on irrelevant information (e.g., the “anchor”), such as the price you paid for it, the cost of something else you own, or what someone told you it was worth.
Present Bias – Difficulty postponing immediate returns, or delaying gratification.
Status Quo Bias – Preferring things you know over the things you don’t know, even if other options are superior.
Restraint Bias – Overestimating our ability to resist temptation.
Ownership Effect – Placing a higher value on the things you own, because you own them.
Familiarity Bias – Gravitating toward products and investments that you know over unknown options, which may be better.

While some of them may be pretty similar I’m sure we all have a tendency to fall into one of the traps from time to time. For me, it’s probably “Restraint Bias” – especially once I’ve gotten an idea in my head that I want something. How about you? What’s your biggest trap?

Read the full post here

Five Reasons to Lower Your Thermostat

Mon, 24 Feb 2014 07:00:15 +0000

Here are Five Reasons to Lower Your Thermostat. Who can argue with…

Losing weight
Extending the life of your fridge (have you seen the prices of fridges?)
Better sleep

Find out the details and the other reasons in the article.

Saving $1000 on Auto Insurance

Sat, 04 Jan 2014 05:02:01 +0000

We recently received our auto insurance bill in the mail, and for once I decided to “just see” how much of a difference it could make going with a different company. At over $2k for the year (keep in mind MI is a no-fault state) I was hoping to knock a couple hundred bucks off. I started off as I would imagine anyone would do these days and took right to the internet. First stop… State Farm. After entering the data they wanted I waited eagerly and… more expensive. I almost stopped figuring “everyone is going to be the same”.

Still something pushed me onward even with children who needed things wining in the background. Next up I hit Progressive. This time I got a little encouragement with a quote around $700 every six months. I played around with the numbers and got it down to around $550 every six. We were talking some serious cash now. How could roughly the same benefit cost nearly 1/2 what I was paying??

Figuring it didn’t hurt to keep looking I decided to also give Geico a try. This time I was shocked to get a quote even lower! After looking over the numbers I chose to actually increase some of the limits and still kept it around $550 every 6 months.

In the end I chose Geico because for the same rate as Progressive I got more coverage, and still wound up paying nearly 1/2 what I was with AAA. When calling in to setup the coverage I was told that the primary discount was for an excellent credit rating, so for anyone reading this, make sure you’re paying your bills on time, in-full every month.

For those who want a breakdown of the actual coverage numbers, here they are…

Coverage	AAA	Progressive	Geico
BI Liability	$100k/$300k	$100k/$300k	$300k/$500k
Property Damage Liability (PD)	$50k	$100k	$100k
Limited property Damage Liability	“Included”	$1k	$1k
Property Protection (PP)	“Included”	$1M	$1M
Uninsured Motorist BI	$20k/$40k	$100k/$300k	$300k/$500k
Deductible/car	$550 basic	$500 comp/$1k collission broad form	$500 broad form

The moral of the story? Go check your auto insurance coverage and rates then go comparison shopping. No guarantees you’ll see the savings I did, but it just may save you hundreds if not thousands of dollars a year.