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Money

Saving the Splurge

I didn’t mean to write posts two weeks in a row which were inspired by articles, but I’ve been reading a lot of pieces I’d love to discuss with you. The latest is this one, from the Wall Street Journal, about a baby boomer who had less than $15 in her bank account, and retirement looming ahead (by the way, if you find yourself behind the paywall, you can try this and click on one of the top results which should give you access to the article).

As a quick summary, the piece shares the story of a retiree who when times were flush, spent on luxuries including  an $18,000 golf course membership, BMW roadster, Mercedes, fur coats and LV bags. Then, at one point as her savings and accounts dwindled, she had less than $15 in her bank account.

The subject of the article, Kathleen Wolf

 

What I liked about this piece in particular was that it painted a fair picture of the subject, who came across better than you might think in a piece like this. She was honest about how she got into her predicament “I was just playing at being a rich person, I wasn’t rich,” and by the end she had made the decision to move to Iowa, to take responsibility for a sustainable retirement solution. I thought that was incredibly admirable and brave, especially as a single woman with no family living nearby. Continue Reading

Money

Reader Question: Household Finances

Money is one of those super touchy subjects, which is why I rarely write about it. Plus, I’m utterly unqualified. I receive quite a lot of questions about it though (apparently you guys are all like me – secretly…

Money Travel

Small Savings – Travel, Part Two

A few weeks ago, I shared some of my cost savings tips for travel in a post from my “Small Savings” series. Here is part two, and the last of it (for now…I keep thinking of more!). Travel in…

Money Travel

Small Savings – Travel, Part One

Travel is one of my favorite hobbies in the whole world. To me there’s few things better than the anticipation a week or so before a trip – scouring through various TripAdvisor reviews, looking through guidebooks, and dreaming of…

Money

How I Budget and Save – A High Level Overview

I’ve received a few requests asking about how I manage the budget in our household, and approach our savings goals. In the spirit of full disclosure of the obvious, I am definitely not a financial expert. My savings philosophy…

Money

Favorite Reads: Money

As some of you know, I love to read and once in a while receive inquiries about which finance books I might be able recommend. I have to admit that while I am very interested in personal finance, I…

Money

Reader Question: Household Finances

Awhile ago, I received an email from a reader, Heather, about the division of finances in a relationship. From Heather: …I myself adore beautiful items and luxury goods but of course like many people, I will have to save…