Happy weekend, everyone! I can’t believe it’s November next week already. Time to start planning for Christmas :)
White Coat Investor talked about the “compulsive saver” mindset this week, which really resonated with me. The solution for me was his first one: Grow Income. I need to work on #2 though (Stop saving when you reach your goal). With the income I have now, I can have a lifestyle I enjoy, max out my retirement accounts, invest in my taxable accounts, AND pay down the mortgage. So now I don’t worry quite as badly about saving as I once did on a low income. Saving 80% of my net income in high school sure didn’t leave me with much spending money. But now I’m at closer to saving 60-70% of a high net income (including bonuses) and that means I can spend plenty of money and not worry (as much) if I’m saving enough.
The Finance Buff reported that Ally Bank now requires consent before allowing early withdrawal from CDs. I’m sure glad I didn’t open any 5 year CDs with them!
Harry of Your Personal Finance Pro had a great explanation of I-Bonds. I know very little about them myself so that was a great primer!