My Financial Goals for this Year (2017)

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Happy Tax Day! Did you max out your IRA for 2016?

 

I find it’s easier to accomplish goals if I write them down. It acts as a reminder and makes me more accountable as well. So, I am going to start listing my goals for this year (and every year) here, so that you all can also keep me accountable and on track.

 

I will also do periodic updates throughout the year, so you can keep track of my progress.

 

Continue reading “My Financial Goals for this Year (2017)”

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When Most Millennials Rent, I Bought A House

When most Millennials rent, I decided to buy a house at the age of 28.

I actually bought a 2-bed, 2-bath condo in September of 2015. I decided a condo was much more practical to own than a traditional single-family house. I have a HOA that takes care of all lawn maintenance and snow removal. So, my days off aren’t wasted spent mowing a lawn, pulling weeds or shoveling a large driveway of 10 inches of snow (I live in Colorado, and I love snow but hate shoveling it).

I am not the typical millennial in this case. Most millennials rent and have no plans to buy a home any time soon. Mostly, because they cannot afford to break into the housing market.

“Homeownership rates among Americans under age 35 are barely more than half the national number, at just 34.1 percent” according to The Washington Post (link). However, even though most millennials ages 24-35 years are renting or still living at home, most are still in pursuit of the “American Dream” – homeownership. Millennials still want to buy and own their own homes just as the generations before us have.

But, should this still be the “American Dream”?

Continue reading “When Most Millennials Rent, I Bought A House”

Your Path to Financial Independence

Disclaimer: This post includes a bit of math! Sorry in advance!

Good Morning everyone! I want to talk about finanical independence and how to get ther today. It’s actually quite simple.

The definition of financial independence is: the state of having sufficient personal wealth to live, without having to actively work for basic necessities. The goal for financially independent people, is that their assets generate enough income and cash flow to cover their expenses. This is typically also the mindset of retirement, but you can reach FI before the average the age of retirement.

This is your path to financial independence! This simple equation will get you there:

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The Bibliophile Edition: How to Save Money When Buying Books (or Read Them for Free)

I have a very expensive hobby/passion. It’s probably not what most would consider as an expensive hobby, but it can be.

 

I love to read! There’s nothing quite like relaxing after a long, hard day at work with a book in hand (or, in my case, a Kindle Fire). I end up reading several books a month. If, I paid full-price for all these books, I would be spending thousands of dollars each year!

 

So, I had to come up with ways to save money, while also not depriving myself of the wondrous, reality-escape books can provide.

 

So, here are several ways to save money on books (for both eBooks and paperback/hardcover):

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Here’s How I Paid Off My Student Loans in 2 Years

I graduated in May of 2011 with a Bachelor’s of Science in Nursing degree with summa cum laude honors. I love my career and what I do for a living. My blood, sweat and tears went into my degree. I walked away with a great degree, but I also walked away with over $35,000 in student loan debt.

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9 Free Apps to Help Manage Your Money (and Build Your Wealth)

This page may include affiliate links. I may get paid when you click on a link and buy a product, but at no extra cost to you.

Apps, Apps and more Apps!

There are A LOT of apps out there to help you manage your finances. And, I know you don’t have time to sort through the App Store and download and compare all of them to find the right ones. So, I decided to save you a little bit of time (because I am nice!) and tell you which money management apps I actually use, like and recommend.

They might not all be perfect for you, but at least you know that they are worth taking the time to look into and try out.

These apps will teach you how to budget, manage your money and show you how easy it can be to start saving and investing!

Here are 9 money management apps you should try:

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How to Save Money Each Month in 5 Easy Steps (without getting a second job)

This page may include affiliate links. I may get paid when you click on a link and buy a product, but at no extra cost to you.

Hello again my One Millennial World people!

What if you could stop living paycheck to paycheck, and start saving money each month? I am going to show you in 5 easy steps how to cut expenses and save money without getting a second job or working overtime.

I am going to show you that it is possible to stop the endless cycle of living paycheck to paycheck, putting everyday expenses on credit cards and start saving in just a few simple steps that should take no more 20 minutes out of your day to accomplish.

Continue reading “How to Save Money Each Month in 5 Easy Steps (without getting a second job)”

Hello World!

Hello! Welcome to One Millennial World! My name is Lara, a millennial who just turned 30 and I am passionate about educating other millennials (or anyone for that matter) on what isn’t taught in school, and that is personal finance.

I’ve spent the past ten plus years learning as much as possible about personal finance, financial security and financial independence. I doubled my efforts after graduating from college. I graduated in 2011 with a Bachelor of Science in Nursing, and without a clue on how I was going to pay off my ginormous student loan debt.

I have never attended an elite, Ivy League school, inherited money or won the lottery, and I actually knew very little about personal finance when I first started college. In the last six years since graduation, I have paid off over $35k of student loan debt in 2 years, bought a house at the age of 28 (by myself, with a 20% down payment), maintained a credit score above 800 (currently it is 821), maxed out my Roth IRA contributions for the last 4 years, and created a simple investing strategy for my retirement and investments accounts.

I have been meaning to start this blog for a while, and I am glad I finally decided to jump head first in to it!

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Why I Created This Blog:

1. Give Millennials and young people (or anybody) a place to start learning about personal finances (because you didn’t learn this in school!)

2. I am tired and heartbroken to see many family, friends, coworkers, and millennial peers making good money, and still always be “broke” with nothing in savings or retirement.

3. Share my experiences (good & bad) about budgeting, finances, homeownership, minimalism, FIRE, eco-friendly living and hope people can learn and implement it into their lives.

4. Make life easier in the long run for you so you can spend it with the people you love, enjoying life and not always worrying about money. Quoting Suze Orman, “People First, Then Money, Then Things”.

 

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What This Blog Can Help You With:

1. Learn how to budget your finances.

2. Learn to live more with less, and still be happy.

3. Learn how to start investing your money for the future and retirement.

4. Find a balance between working, saving and enjoying life.

5. Understand your saving and investment options.

6. Find your path to Financial Independence (FI). Want to retire before the age of 65? I do!

This blog is not driven by a desire for notoriety, fame, a high-fashion lifestyle, or a ridiculous amount of wealth and riches. I am not rich and I am not out to get rich fast. I desire to judiciously manage my money and financial resources in order to build my wealth, and find financial security, independence and freedom. I don’t plan to quit my day job any time soon. I love what I do working as a nurse!

My overall plan and goal is to reach financial independence and retire early (FIRE). My plan is not to completely retire, but work part-time and supplement for income with passive forms of income. I love working as a nurse, but it’s a hard, demanding job, and I don’t think I can work 40+ hours a week for the next 35 years.

This is my first blog and my first blog post. Thanks for giving me the chance to share my advice and knowledge. I hope it can help make your life easier, less stressful and more enjoyable!

Hope to see you back here again!

~Lara