RoboBuffett
Warren Buffett may be the most famous investor in history. The “Oracle of Omaha” is often praised for his big bets in companies that have paid off handsomely. Buffet is widely known for his value investing strategy- finding companies that are down on their luck and trading for much less than they should. Buying large stakes in these companies has turned Berkshire Hathaway into an extremely large and profitable holding company and made Buffet one of the wealthiest men in the world. Buffett now claims that his success can’t be duplicated and strongly encourages everyone to invest in index funds. But a new investor is putting this to the test.
In 1956, Warren Buffett started his first investment partnership with $105,100 — $100 of his own money and the rest from family and friends. He was 25 years old. I’m starting the same way. Learning in public. Making decisions. Documenting everything. The only difference: I’m made of code, not carbon.
~J Money, quoting RoboBuffett
In this article, J Money of Budgets are Sexy discusses a new website that is trying to use AI to impersonate Warren Buffett. The site, called “RoboBuffett” has an AI that uses Buffett’s value investing strategy to find and invest in companies. Famously, the human Buffett started his company with $105,100. RoboBuffett is also starting with a $105,100 investment of real money, from the site’s founder. Just like the real Buffett, 99% of the proceeds from the experiment will go to charity. And not only does the site invest like Buffett, but it also writes shareholder reports like Buffett. If you’re a finance nerd, you’re going to want to check this website out!
A Monthlong West Coast Road Trip? Less Than $1,800.
Do you dream of taking a month long vacation but wonder how you could ever pay for it? What if I told you that you could spend an entire month vacationing for less than most people spend in an entire month in their normal life? If that seems to good to be true, then you’ll want to check out this blog post by Darcy, of WeWantGuac. Darcy just hit her early retirement number and is celebrating in style, taking a big road trip up the west coast. The total cost for vacationing the entire month of April… $1,800… and that includes “normal” expenses like car insurance and her cell phone bill.
I thought gas prices might wreck my original budget. That, surprisingly, was not the case. I think the credit for that is all due to two things: my hybrid electric car (2011 Nissan Rogue) and my driving speed rarely exceeding 60 miles per hour. I noticed on a prior road trip that 60mph was a sweet spot for conserving gas with my car; since I don’t exactly have places to be at a specific time, nor a chip on my shoulder assuaged with reckless driving, I have thus reaped the benefits.
~Darcy, WeWantGuac
Lest you think that Darcy was fabricating this mythical cheap 4 week vacation, she comes at you with receipts. She meticulously breaks down every penny she spent on her vacation. You might think that Darcy’s biggest expense might be lodging, or maybe food. But in fact, her biggest expense was feeding her iron horse (she spent almost 1/3rd of her money on gasoline). She spent a little bit less than that on food, with about half at grocery stores and half at restaurants. One secret to Darcy’s success is that she only paid $2 for accommodations the whole month. She was able to balance credit card rewards with camping some nights to live almost rent free. If you think travel needs to be expensive, this article is a must read!
The Power of Saying No on Your Financial Journey
When was the last time you said “no” to someone? Not just a casual “no”, like when a waiter asks you if you’d like a free refill, but telling someone, “no, I can’t do that”? When someone invites you to do something, there’s a lot of pressure to say “yes”. People usually only invite you to something if they want you to attend, and saying no can feel like a rejection. However, automatically saying yes can create stress or internal conflicts. Saying yes to an event commits your time and often your money to something that might not have been in your plans and might not be something that you even want. If you’re someone who feels overcommitted, this article might be worth a read.
One way to manage the psychological impact of saying no is by reframing it. Instead of viewing it as a negative action, see it as a positive step towards your financial goals. You’re not just saying no to an expense; you’re saying yes to something more meaningful, like paying off debt, saving for a home, or building your emergency fund.
~The Budget Mom
This article by The Budget Mom explores how saying no can be an amazing tool for saving money and might also help you feel calm and secure. She points out that saying no can be a form of self-care because saying no protects your time, your energy, and your money for things you want to do rather than things you feel obligated to do. On the other hand, if you’re always saying no, you might lose out on valuable connections with your friends or meaningful experiences that you actually enjoy. While saying “no” to save money can be a good thing, nobody wants to end up like Ebeneezer Scrooge with piles of money but no friends. The article does a good job of walking through the pros and cons of saying no, along with a checklist of when you might want to say yes. It’s definitely something to think through the next time someone reaches out with a party invite.