Written By Paula Pant
After I graduated from college and accepted an entry-level job, I received a starting salary of $21,000 per year.
Adjusted for inflation, that’s $24,100 in today’s dollars.
I was a diligent saver, even then. I directed 15 percent of my pre-tax income into my 401k and another 5 percent into a Health Savings […]
Written By Paula Pant
Shortly after Martin and Sierra Black married, they bought a beautiful 2,200-square-foot Victorian home near Boston.
From the outside, the couple looked like they had it all.
But something was wrong.
They were drowning in bills. They forked over $2,200 each month on mortgage payments, and another $600 per month on gasoline for their […]
Written By Paula Pant
What’s the purpose of money?
That’s not a rhetorical question. I’m inviting you to sit with this question for a moment. Ponder it. Pray / meditate / reflect on it.
Why do you want to create wealth on your life? What’s the ultimate purpose?
I’ve thought about this on a near-daily basis for the […]
Written By Paula Pant
Ready to rumble?
There’s a fight brewing. Two contenders have climbed into the ring.
Both are clawing for victory. Only one will survive.
In one corner: Crush Your Mortgage, and his team of anti-debt advocates.
In the other corner: Keep Your Mortgage, and his cheering crowd of leveraged investors.
Who will take home the […]
Written By Paula Pant
Finance nerds have strange habits.
Here’s one of mine:
Once a year, I lock myself in a room with nothing but a laptop, spreadsheet, and boatloads of determination.
The mission: Decipher my savings rate.
Am I saving 30 percent of my income? 40 percent? 60 percent?
As longtime readers might recall, my then-partner (now […]
Written By Paula Pant
Finish the following sentence:
“My dream is _____.”
Maybe you want to buy a house, or backpack Europe, or retire early.
No matter what you want, having a Big Ol’ Heap of Savings makes each these goals a million times easier.
“Gee, thanks Captain Obvious,” you’re probably thinking. “Easier said than done.”
Do you think […]
Written By Paula Pant
How often have you heard people defend flagrant spending with the following words: “Ah, c’mon. It’s only $25!”
Hogwash. That’s the wrong way to think.
The better mental shift is to think: “That cost one hour of my life.”
****
Unless you’re magical, $25 doesn’t appear out of thin air. You get that money in […]
Written By Paula Pant
Let’s see a show of hands: how many of you actually make a budget?
(Silence. Crickets chirping.)
Yeah, I thought so.
One of the most overplayed pieces of financial advice is “make a budget.”
There are a small handful of nerds who jive with this idea. You dig data. You love crunching numbers. Good for […]
Written By Paula Pant
Imagine that you bought a $100 ticket to a ski resort in Michigan.
A few days later, you find a $50 deal for a ski resort in Wisconsin.
The $50 Wisconsin deal promises better ski slopes, nicer snow, and an all-around more fun experience.
On impulse, you buy that ticket, too.
Then you learn that […]
Written By Paula Pant
This was originally published in 2012 as a series of separate blog posts. For the sake of simplification, we have consolidated these blog posts onto this one page that you’re reading. Unless otherwise noted, the information has not been updated, so all numbers and information reflect 2012.
I’m changing careers. Well, sort of.
About two […]
