Investing during Baby Step 2?

*contains affiliate links* What is Baby Step 2? It is the second step to financial freedom, as written by Dave Ramsey. In this step, you prioritize debt payoff and cut your spending, investing, etc…to nearly 0. However, there are some nuances to it that he does not adhere to, particularly that it does not work Read More

How to Harness the Power of Compounding Interest

Some of you will know what DR stands for, for those who do not know it is Dave Ramsey. Now, I know posting this is a bit crazy… since I know there are many die-hard fans out there. I do not dislike his baby steps but they do not work for me. As I mention Read More

Cash is not king

At least not in Sweden. All over the #debtfreecommunity Instagram tags I see the phrase ‘Cash is King.’ This stems from Dave Ramsey when he tells those following his baby steps to ditch credit and debit cards and only use cash. Especially since holding cash makes you feel more attached to your money and you Read More

What are the baby steps and should you do them?

Disclaimer: This post is a general overview of the baby steps and my opinions. It is not meant to replace Dave Ramsey’s books about the baby steps or financial peace university. I am not affiliated with Dave Ramsey or his companies. Some of you have heard of Dave Ramsey’s baby steps, which are a great Read More

5 ways to increase your savings rate

When you are on the path to FIRE (if you do not know what FIRE is, here is a link) or on the path to financial independence, having a higher than normal savings rate can help kick start it. Zero-dollar based savings – This one is my all-time favorite. It is the easiest to keep Read More

The importance of financial literacy – 5 reasons

April is ‘Financial Literacy’ month. This is to spread awareness of the importance of this issue. It is the possession of a set of skills and knowledge that will allow an individual to make effective decisions on their fiances. Some of you might be thinking – ‘Well, why is it important?’ You are right, why Read More

Savings rates – Sweden vs. USA

I will be somewhat focusing on Stockholm, Sweden since this is where I am currently living. The average income for someone living in Stockholm is about 22000 SEK after taxes, which is about 2100 USD as of today (April 8 2019). Sweden does have a high cost of living, which deters people from eating out Read More

5 financial habits of early retirees

Have you ever wondered what it takes to retire early? Remember, retiring early does not mean 30 years old. Even retiring at 50 is retiring early. Since the retirement age is sometime after 60. Since any age before 60 is retiring early, anyone on just about any income can do it. Have little to no Read More

If there is not a WILL, there is a way

Disclaimer: This topic depends on the country or state you live in. So, I would first talk to an estate lawyer and a tax lawyer. I am neither but as a banker I was often given ‘free’ advice as to how to go around the necessity of a will if you do not have enough Read More

Travel Hacking – What is it?

You’ve heard of house hacking but what is travel hacking? This is not a new concept, its been around since the 1970’s, when the first frequent flyer loyalty program was created. The basic idea is to take advantage of a situation to make it more cost-effective. Especially to earn free flights, hotels, and rental cars. Read More