Feature Post:
Crowdfund your Wedding! Here’s How to do it.

Yo, fiancés – I have some great money saving advice for you, so listen up!
You know that $40,000 wedding you are planning? Yep, the one that you want to comfortably be above the $30,000 average …

Read this story »

how to invest


career, food, travel


saving, credit, debt


insurance, security


401K, IRA, FI, Retire

The Active Chaser vs. the Passive Spectator
July 16, 2014 | 4 Comments

Most of us want financial success, yet surprisingly few are successful at it. Why? What is the the defining characteristic of those who achieve financial success?

If there’s one thing I have learned over the years about personal finance, it’s that being in a position of financial strength rarely passively falls in to your lap.

Sure, there’s the occasional 1-in-50 million lottery winner or the increasingly rare inheritance benefactor (birth lottery winners), but 99% of us are going to have to actively chase financial success.

We gotta hustle and earn it.

Yet – most take a passive spectator approach to the things that impact their finances:

  • they pursue another’s career agenda for them
  • they pursue the easy job of least resistance
  • they accept the salary they are offered
  • they don’t show their worth and hope for occasional merit or longevity raises
  • they buy things they could easily make
  • they don’t optimize their budget
  • they are completely dependent on others and outsource projects versus learning to DIY
  • they save whatever is left over from their spending
  • they stay in the same job way too long
  • they don’t pursue side income or self-employment
  • they don’t put their savings to work for them
  • they retire at the standard retirement age because that is when you’re supposed to

Active chasers take a different approach:

  • financial successthey set their own career agenda
  • they challenge themselves to find better, more challenging, more rewarding, higher paying jobs
  • they actively negotiate their salary
  • they calculate and show their worth and use it to push for raises and promotions
  • they make things they could easily buy
  • they relentlessly optimize their budget
  • they in-source projects through learning to DIY
  • they set aggressive personal savings rate targets and cut the fat to get there
  • they leave jobs when they get too comfortable and boring
  • they embrace entrepreneurial opportunities
  • they put their savings to work for them
  • they retire when they want

It’s OK to be passive from time-to-time – we all are. And even if you consistently check all of the passive bullets above you could still be a mighty fine person and live a very fulfilling life.

However, if financial success is your goal, the more you can develop the qualities of an active chaser, the more likely you will achieve it. I’d also argue that the more active chaser qualities you develop, the more success you will have in other areas of your life as well: job fulfillment, health, fitness, hobbies, relationships, community involvement, education, etc.

Chase wisely, my friends.

$1 Saved in your 20′s Equals $10 Saved in your 50′s!
July 14, 2014 | 23 Comments
$1 Saved in your 20′s Equals $10 Saved in your 50′s!

$1 saved in your twenties can be the equivalent of $10 saved in your fifties, if invested over time.
Hard to believe? It’s true.
Actually, $10.06 to be exact – at an average annual rate of return …

The Cheapest Way to Listen to your Favorite Music, Uninterrupted
July 7, 2014 | 8 Comments
The Cheapest Way to Listen to your Favorite Music, Uninterrupted

Back in the early 90′s, I gave up the pencil-rewind cassette playing Walkman and purchased its successor – the Sony Discman. Man, that thing was cool. All I needed was something to actually listen too…
I …

The Patio Swing Restoration Project
July 2, 2014 | 3 Comments
The Patio Swing Restoration Project

My wife and I have a patio swing that was gifted to us about 7 years ago, when we moved in to our current home.
It sits right outside of the back sliding door, on our …

Don’t Settle for Anything Less than a Livable Wage
June 30, 2014 | 8 Comments
Don’t Settle for Anything Less than a Livable Wage

At times we all have to work jobs that are not exactly what we envision ourselves in at our career peak. Case in point, my first job ever was as a busboy for a Flap …

Maximum HSA Contributions Increased for 2015
June 25, 2014 | 6 Comments
Maximum HSA Contributions Increased for 2015

The IRS recently (and quietly) published an inflation adjustment increase to the maximum HSA contribution for 2015 over 2014′s maximum.
If you’ve been following along, you know that I have been a big fan of health …

How I CUT my Cost of Shaving by 90% with a Safety Razor
June 23, 2014 | 22 Comments
How I CUT my Cost of Shaving by 90% with a Safety Razor

My entire post-pubescent life, I had used disposable and cartridge-based razors.
Like many in the 90′s era, I awkwardly started out with the plastic handle disposables. 1 blade (usually cheap and dull from the start), use …

Home | Sitemap | Terms | © 20somethingfinance.com