Does the fact that we’re in the NFL offseason fill you with dread? Don’t worry, you still have something to look forward to every Monday Night. We’re starting a new personal finance roundup series that we’re calling “Monday Night Finance.” Tune in each week to read a roundup of some of our favorite recent personal finance posts.
Budgeting Gives You Freedom, Not Constriction (from We Want Guac)
Our first post this week comes from Darcy of We Want Guac. How many of us avoid budgeting? There’s plenty of excuses. Budgeting isn’t fun. We equate budgeting with being on a financial diet. And we all know that no one can stay on a diet forever. Why set ourselves up for failure. Darcy flips this narrative on its head.
Budgeting is exactly what gives you the freedom to spend whatever it is you know you can afford.
~We Want Guac
By tracking and understanding your spending, you’re able to spend with confidence. Want to buy a latte everyday? Go for it, but understand where the money is coming from. The article gives a lot of powerful reasons why budgeting isn’t as bad as it’s often made out to be. We couldn’t agree more (plus we could recommend a software to help you track and budget your expenses…*wink*)
Roth TSP vs. Traditional TSP: Which is Better? (from GovernmentWorkerFi)
This post is targeted at Federal Employees and compares two options for their Thrift Savings Plan or TSP, which is similar to a 401(k). However, the math behind the post is generally applicable to employees who can select between a traditional 401(k) and a Roth 401(k).
For some people, the Roth TSP will be better, for others the Traditional TSP will be better. And in many cases, they will get will get you to exactly the same place. So don’t believe people when they make extreme, unequivocal statements in all caps that ROTH IS THE BEST. It’s simply not true. ~GovWorker
GovWorker highlights some of the important considerations that go into which account is best suited towards your needs at each stage of your career. The takeaway message? Both options are great!
New Blog Feature: JenDependenceDay.com
This week we wanted to feature a brand new blog. Jen started blogging on January 1st of 2020 to chronicle her journey to FIRE (financial independence and early retirement). Starting a blog is a lot of hard work and the first few months it can feel like nobody reads anything you write. We are hoping this feature helps Jen find her audience. Jen is working towards FIRE by starting a lot of different side hustles to earn passive income.
I am so excited about the idea of passive income I can hardly sleep! I literally cannot wait until 100% of my income is earned this way. ~JenDependenceDay
It can be exciting to watch how new blogs grow and develop. Jen certainly has aggressive goals for her side hustles, which are sure to make for exciting reading.
Side hustlers, like Jen, may be especially interested in the “Invoicing Option” offered by CountAbout. The invoicing feature allows small-businesses to create, send, and track invoices and is perfect for bloggers and side hustlers.
