際際滷

際際滷Share a Scribd company logo

The Frugal Techie: Be Financially Free and still afford Tech. Toys

Download as ODP, PDF
msz
msz

1) The document discusses how to achieve financial independence while still being able to afford technology through various money saving tips and strategies. It promotes spending less than you earn, paying yourself first through automatic investing, taking advantage of tax advantaged accounts, and using compound interest to your benefit. 2) Tips for saving money include using the library and free services like Google Voice for communication needs, cutting cable cords, setting up price alerts, and choosing low-cost or free cell phone plans from services like RingPlus. 3) Financial independence is defined as reaching a "crossover point" where investment returns exceed expenses, allowing one to live off investment income. Regular investing, asset diversification, and tax-deferred growth

1 of 24
Download to read offline
The Frugal Techie: How to reach Financial Independence and still afford your Tech. Toys May 10, 2016 Mark S. Zinzow Dennis P. MacMahon www.TaxAccuracy.com 際際滷share.net/msz
Topics Financial Philosophy, Literacy & Intelligence Resources How can we use Technology to stretch our Dollars? Money saving Tips Discussion, Questions, Feedback?
Basic Financial Focus 1) Spend less than you earn. Minimize debt, accelerate payments. 2) Keep an emergency fund of cash reserves. 3) Pay your future self first! (Use automatic investing.) 4) Choose and stick to a consistent long term investment strategy. 5) Pay attention to income, value, and expenses (budget). 6) Diversify your investments. (Don't put all eggs in one basket!) 7) Take advantage of tax savings programs (IRA, Roth IRA, 401k, 403b, 457b, etc.)
Time Value of Money Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it. Albert Einstein In finance, the rule of 72, the rule of 70 and the rule of 69.3 are methods for estimating an investment's doubling time. The rule number (e.g., 72) is divided by the interest percentage per period to obtain the approximate number of periods (usually years) required for doubling. https://en.wikipedia.org/wiki/Rule_of_72 Rate Years Rate Years Rate Years Rate Years Rate Years 0.10% 693.49 2%35.00 6%11.9 10%7.27 20%3.8 0.25% 277.61 3%23.45 7%10.25 12%6.12 25%3.11 0.5% 138.98 4%17.67 8%9.01 15%4.96 30%2.64 1% 69.66 5%14.21 9%8.04 18%4.19 40%2.06
Exponential vs. Linear Growth http://www.graphpad.com/guides/prism/6/user-guide/index.htm? when_to_use_a_logarithmic_axis.htm
The Crossover Point: How Do You Define Financial Independence? http://www.moolanomy.com/122/the-crossover-point-how-do-you- define-financial-independence/ Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence By Joe Dominguez with Vicki Robin, Penguin Books 1992
Frugal Mindset http://www.meanygoat.com/frugal-mindset/ A Frugal Mindset is both a radar and a filter.you need to be constantly on the lookout for the Good Stuff using your Frugal Radar and then use the Frugal Crap Filter to reject anything that doesnt come up to the mark. Two for one supermarket deals are a great example here.as we know they are usually designed to get us to spend moreown brand products are usually cheaper. Frugal Radar: Use this to identify potential money, time or resource saving technologies, products or services Will this save me time? Will this save me money? Will this use fewer natural resources? Will this help me to simplify my life? Can it be Recycled or used for something else?
Resources Blogs, Forums, & Articles Financial Management Software - Robo Investors: Personal Capital, Betterment, Wealthfront Calculators Investment Services & Discount Brokers Learning Investing
Blogs, Forums, & Articles http://www.mrmoneymustache.com/ http://earlyretirementextreme.com/ http://www.early-retirement.org/forums/ https://en.wikipedia.org/wiki/Financial_independence http://jlcollinsnh.com/ http://lifehacker.com/ http://www.frugaldad.com/ https://www.reddit.com/r/FinancialIndependence http://www.caniretireyet.com/ http://www.iheartbudgets.net/
Useful Blog/Article examples http://www.mrmoneymustache.com/2013/02/22/getting-rich-from-zero-to- hero-in-one-blog-post/ http://www.mrmoneymustache.com/2011/04/26/why-hardcore-saving-is- much-more-powerful-than-masterful-investing/ http://www.mrmoneymustache.com/2012/01/13/the-shockingly-simple- math-behind-early-retirement/ http://www.mrmoneymustache.com/all-the-posts-since-the-beginning-of- time/ https://en.wikipedia.org/wiki/Stocks_for_the_Long_Run http://www.getrichslowly.org/blog/2009/09/29/investing-101-how- diversification-reduces-risk/
Diversification of Asset Classes
Tax Free or Tax Deferred Growth http://financialmentor.com/calculator/taxable-vs-tax-deferred-calculator
Money Saving Tips 1) Use your Library 2) Cut the Cord 3) Subscribe to Price Alerts (Shop Around!) 4) Try Free Phone Services 5) Garden, Glean, Forage (like Euell Gibbons) 6) Reuse & Repurpose beats recycling. (e.g. Soda bottle crafts, cardboard mulch, drinking glass mousetrap) 7) Your ideas?
Tip 1: Use your Library http://overdrive.libraryweb.org/ Many books, magazines, audiobooks, and videos are available for download or streaming with just your library card number!
Tip 2: Cut the Cord! http://gizmodo.com/how-to-cut-the-cord-and-ditch-cable-once-and-for-all-1522124125 ... the combined catalogs of Netflix, Hulu Plus, and Amazon Prime offer much of the same programming, along with a plethora of original content, for a fraction of what you're shelling out to the cable company each month.
The Biggest Myths About Cutting the Cable Cord http://lifehacker.com/the-biggest-myths-about- cutting-the-cable-cord-1566140265 Your Guide to Cable TV Cord-Cutting http://www.tomsguide.com/us/cord-cutting- guide,news-17928.html Cord Cutting Cost Calculator http://cordcuttersnews.com/cost-calculator/
Tip 3: Subscribe to Price Alerts Ebay Searches can include a minimum price for email alerts Bensbargains.net SlickDeals.net Craigslist http://www.clalerts.org/ (Sadly Moribund!)
The Frugal Techie: Be Financially Free and still afford Tech. Toys
Online Price Comparisons Froogle a.k.a. Google Product Search http://www.google.com/products
Tip 4: Try Free Phone Services Google Voice With Google Voice, I can change phones, and phone providers, more often than my underwear, and everyone I want to can always reach me. ObiHai One of few VOIP Telephone Adapters that support Google Voice well. RingPlus Better value than FreedomPop, Scratch Wireless, Republic Wireless and many other MVNOs. Watch http://Promos.Ringplus.net/ for the best deals. e.g. https://promos.ringplus.net/cheerful-plan.html The Cheerful Free Plan provides 4000 minutes, 4000 texts, and 4000MB of data free every month after depositing a single $29+tax prepay to cover overages. http://slickdeals.net/f/8525775-ringplus-cell-service-info-faqs-quick-start-wiki
http://voice.google.com/ 1. Free Vanity Phone Number for Life! 2. Free Calls to US & Canada 3. Free Unlimited Voicemail 4. Free Call Forwarding (up to 7 numbers) 5. Free Conference Calling 6. Free Text Messaging 7. Free Extensive Call Screening features 8. Free Voicemail transcription to email
https://www.obitalk.com/obinet/
Carrier RingPlus Ting $47/mo./shared Sprint $35/mo./line Minutes 8000 1000 Unlimited Texts 8000 1000 Unlimited MB 8000 500 2000 + Free 2G Total Cost $0 $56.12* $83.61* 30 year Savings / Cost $56,655.25 vs. Ting $84,407.44 vs. Sprint $20,203.20 $30,099.60 Hypothetical Monthly Cost Comparison of a Two Phone Family Plan * Taxes based on NY 19.44% estimate Savings calculated assuming alternate cost invested at 6% compounded monthly. http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php https://ting.com/usage_calculator
Today's Promotion Boardwalk Free Plan Tues. 12:30 pm EDT May 10, 2016 1 am EDT Thurs. May 11 3,000 minutes, 3,000 texts, and your choice of data Add Ons (a-f) ranging from 1.5 GB to Unlimited! Free and paid Tethering options available: (Tethering $4.99/month b-f.) a) 1.5 GB LTE / full speed for $0, tethering included per month b) 2.5 GB LTE / full speed for $6.99 per month c) 3.5 GB LTE / full speed for $9.99 per month d) Unlimited Data (32k) for $0 per month (Great for email, Google Maps, light internet browsing) e) Unlimited Data (64k) for $6.99 per month Great for email, Google Maps, light internet browsing, Facebook, and Instagram f) Unlimited Data (128) for $9.99 per month Great for email, Google Maps, light internet browsing, Facebook, Instagram, YouTube, and Pandora (with short buffering times) Overage data is billed in 1 GB intervals at $12.99 for each additional GB. A la carte charges would be $51. Thats a savings of $38! This plan is safer to use with children. Other overages are 5 cents per unit for talk, text, and MMS. A $25.00 Top Up is required to cover overages. If, and only if, the Top-Up balance reaches $0, another $25.00 auto Top Up will be automatically charged to your credit card on file.

More Related Content

The Frugal Techie: Be Financially Free and still afford Tech. Toys

  • 1. The Frugal Techie: How to reach Financial Independence and still afford your Tech. Toys May 10, 2016 Mark S. Zinzow Dennis P. MacMahon www.TaxAccuracy.com 際際滷share.net/msz
  • 2. Topics Financial Philosophy, Literacy & Intelligence Resources How can we use Technology to stretch our Dollars? Money saving Tips Discussion, Questions, Feedback?
  • 3. Basic Financial Focus 1) Spend less than you earn. Minimize debt, accelerate payments. 2) Keep an emergency fund of cash reserves. 3) Pay your future self first! (Use automatic investing.) 4) Choose and stick to a consistent long term investment strategy. 5) Pay attention to income, value, and expenses (budget). 6) Diversify your investments. (Don't put all eggs in one basket!) 7) Take advantage of tax savings programs (IRA, Roth IRA, 401k, 403b, 457b, etc.)
  • 4. Time Value of Money Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it. Albert Einstein In finance, the rule of 72, the rule of 70 and the rule of 69.3 are methods for estimating an investment's doubling time. The rule number (e.g., 72) is divided by the interest percentage per period to obtain the approximate number of periods (usually years) required for doubling. https://en.wikipedia.org/wiki/Rule_of_72 Rate Years Rate Years Rate Years Rate Years Rate Years 0.10% 693.49 2%35.00 6%11.9 10%7.27 20%3.8 0.25% 277.61 3%23.45 7%10.25 12%6.12 25%3.11 0.5% 138.98 4%17.67 8%9.01 15%4.96 30%2.64 1% 69.66 5%14.21 9%8.04 18%4.19 40%2.06
  • 5. Exponential vs. Linear Growth http://www.graphpad.com/guides/prism/6/user-guide/index.htm? when_to_use_a_logarithmic_axis.htm
  • 6. The Crossover Point: How Do You Define Financial Independence? http://www.moolanomy.com/122/the-crossover-point-how-do-you- define-financial-independence/ Your Money or Your Life: Transforming Your Relationship with Money and Achieving Financial Independence By Joe Dominguez with Vicki Robin, Penguin Books 1992
  • 7. Frugal Mindset http://www.meanygoat.com/frugal-mindset/ A Frugal Mindset is both a radar and a filter.you need to be constantly on the lookout for the Good Stuff using your Frugal Radar and then use the Frugal Crap Filter to reject anything that doesnt come up to the mark. Two for one supermarket deals are a great example here.as we know they are usually designed to get us to spend moreown brand products are usually cheaper. Frugal Radar: Use this to identify potential money, time or resource saving technologies, products or services Will this save me time? Will this save me money? Will this use fewer natural resources? Will this help me to simplify my life? Can it be Recycled or used for something else?
  • 8. Resources Blogs, Forums, & Articles Financial Management Software - Robo Investors: Personal Capital, Betterment, Wealthfront Calculators Investment Services & Discount Brokers Learning Investing
  • 9. Blogs, Forums, & Articles http://www.mrmoneymustache.com/ http://earlyretirementextreme.com/ http://www.early-retirement.org/forums/ https://en.wikipedia.org/wiki/Financial_independence http://jlcollinsnh.com/ http://lifehacker.com/ http://www.frugaldad.com/ https://www.reddit.com/r/FinancialIndependence http://www.caniretireyet.com/ http://www.iheartbudgets.net/
  • 12. Tax Free or Tax Deferred Growth http://financialmentor.com/calculator/taxable-vs-tax-deferred-calculator
  • 13. Money Saving Tips 1) Use your Library 2) Cut the Cord 3) Subscribe to Price Alerts (Shop Around!) 4) Try Free Phone Services 5) Garden, Glean, Forage (like Euell Gibbons) 6) Reuse & Repurpose beats recycling. (e.g. Soda bottle crafts, cardboard mulch, drinking glass mousetrap) 7) Your ideas?
  • 14. Tip 1: Use your Library http://overdrive.libraryweb.org/ Many books, magazines, audiobooks, and videos are available for download or streaming with just your library card number!
  • 15. Tip 2: Cut the Cord! http://gizmodo.com/how-to-cut-the-cord-and-ditch-cable-once-and-for-all-1522124125 ... the combined catalogs of Netflix, Hulu Plus, and Amazon Prime offer much of the same programming, along with a plethora of original content, for a fraction of what you're shelling out to the cable company each month.
  • 16. The Biggest Myths About Cutting the Cable Cord http://lifehacker.com/the-biggest-myths-about- cutting-the-cable-cord-1566140265 Your Guide to Cable TV Cord-Cutting http://www.tomsguide.com/us/cord-cutting- guide,news-17928.html Cord Cutting Cost Calculator http://cordcuttersnews.com/cost-calculator/
  • 17. Tip 3: Subscribe to Price Alerts Ebay Searches can include a minimum price for email alerts Bensbargains.net SlickDeals.net Craigslist http://www.clalerts.org/ (Sadly Moribund!)
  • 19. Online Price Comparisons Froogle a.k.a. Google Product Search http://www.google.com/products
  • 20. Tip 4: Try Free Phone Services Google Voice With Google Voice, I can change phones, and phone providers, more often than my underwear, and everyone I want to can always reach me. ObiHai One of few VOIP Telephone Adapters that support Google Voice well. RingPlus Better value than FreedomPop, Scratch Wireless, Republic Wireless and many other MVNOs. Watch http://Promos.Ringplus.net/ for the best deals. e.g. https://promos.ringplus.net/cheerful-plan.html The Cheerful Free Plan provides 4000 minutes, 4000 texts, and 4000MB of data free every month after depositing a single $29+tax prepay to cover overages. http://slickdeals.net/f/8525775-ringplus-cell-service-info-faqs-quick-start-wiki
  • 21. http://voice.google.com/ 1. Free Vanity Phone Number for Life! 2. Free Calls to US & Canada 3. Free Unlimited Voicemail 4. Free Call Forwarding (up to 7 numbers) 5. Free Conference Calling 6. Free Text Messaging 7. Free Extensive Call Screening features 8. Free Voicemail transcription to email
  • 23. Carrier RingPlus Ting $47/mo./shared Sprint $35/mo./line Minutes 8000 1000 Unlimited Texts 8000 1000 Unlimited MB 8000 500 2000 + Free 2G Total Cost $0 $56.12* $83.61* 30 year Savings / Cost $56,655.25 vs. Ting $84,407.44 vs. Sprint $20,203.20 $30,099.60 Hypothetical Monthly Cost Comparison of a Two Phone Family Plan * Taxes based on NY 19.44% estimate Savings calculated assuming alternate cost invested at 6% compounded monthly. http://www.thecalculatorsite.com/finance/calculators/compoundinterestcalculator.php https://ting.com/usage_calculator
  • 24. Today's Promotion Boardwalk Free Plan Tues. 12:30 pm EDT May 10, 2016 1 am EDT Thurs. May 11 3,000 minutes, 3,000 texts, and your choice of data Add Ons (a-f) ranging from 1.5 GB to Unlimited! Free and paid Tethering options available: (Tethering $4.99/month b-f.) a) 1.5 GB LTE / full speed for $0, tethering included per month b) 2.5 GB LTE / full speed for $6.99 per month c) 3.5 GB LTE / full speed for $9.99 per month d) Unlimited Data (32k) for $0 per month (Great for email, Google Maps, light internet browsing) e) Unlimited Data (64k) for $6.99 per month Great for email, Google Maps, light internet browsing, Facebook, and Instagram f) Unlimited Data (128) for $9.99 per month Great for email, Google Maps, light internet browsing, Facebook, Instagram, YouTube, and Pandora (with short buffering times) Overage data is billed in 1 GB intervals at $12.99 for each additional GB. A la carte charges would be $51. Thats a savings of $38! This plan is safer to use with children. Other overages are 5 cents per unit for talk, text, and MMS. A $25.00 Top Up is required to cover overages. If, and only if, the Top-Up balance reaches $0, another $25.00 auto Top Up will be automatically charged to your credit card on file.