She Strengthens

My Financial Reality Check

As I reviewed my bank statements from the past few months, I was relieved to see that I’ve been keeping my expenses in check. The only significant purchase I made was a round-trip flight to Chicago, which was relatively affordable. Living in NYC for almost a month now has made me more mindful of my spending habits, especially compared to my time in LA. I’ve noticed that I tend to splurge more on food and drinks in NYC, whereas in LA, I’d rather spend on low-cost activities like outdoor movies.

City-Specific Spending Habits

It’s fascinating to think about what people are willing to spend on in their respective cities. For me, being aware of these differences has helped me make more informed financial decisions. While it’s not a one-size-fits-all approach, I’ve been trying to cut back on unnecessary expenses, like alcohol. However, socializing with friends in NYC has led to more frequent drinks, which I’m keeping an eye on.

Inspiring Reads

This week, I came across two thought-provoking articles on the financial implications of struggling with alcohol abuse. One piece, by Cait Flanders, candidly breaks down her lifetime spending on alcohol, offering a raw and informative look at the issue. Another article caught my attention, exploring what would happen if you maxed out your 401(k) every year. As someone aiming to save aggressively for retirement, I found this particularly intriguing.

Top 7 Personal Finance Articles

Here are the standout pieces from Rockstar Finance that caught my attention:

1. Fake It Till You Make It
Action Econ’s advice is simple: act like you’re broke to save real money. By challenging every expense, you’ll be surprised at how quickly your savings add up.

2. The Power of Maxing Out Your 401(k)
DQYDJ’s analysis shows that maxing out your 401(k) can lead to a significant wealth buildup over time, shielding your contributions and gains from taxes.

3. Minimalism in Practice
The Minimalists share a poignant story about being criticized for not being “real” minimalists. Their response is a powerful reminder that everyone’s journey is unique.

4. Your Financial Benchmark
Stefanie O’Connell introduces the concept of a “make or break number,” a benchmark for your financial viability. It’s not about creating a detailed budget, but committing to earning at least as much as you need to thrive.

5. The Hidden Cost of Excess
Blonde on a Budget crunches the numbers to reveal the staggering amount she wasted on alcohol before quitting. Her story serves as a powerful reminder of the financial benefits of moderation.

6. Leaving a Legacy
Beards and Money introduces the concept of “I love you money,” a fund set aside for loved ones in case of unexpected events. It’s a heartwarming way to show your family you care.

7. A Crash Course in Money Management
Forbes offers a 30-day challenge to help you develop healthier financial habits. By tracking your income and expenses, you’ll gain a better understanding of your spending habits and make more informed decisions.