Want to find out how much that expense ratio costs you over the life of your investment? Just plug in your numbers to the expense ratio cost calculator to find out.
I created this spreadsheet to track all of my income and expenses for a big picture view of my financial state. Tracking my income and expenses helped me make big financial decisions with ease because I knew exactly how much I was earning and spending. This spreadsheet is a great starting point for anyone trying to get a grip on their finances.
I used this spreadsheet to track my mortgage. It calculated exactly how many months I shaved off my mortgage by paying extra any given month. It also adds up the amount spent in interest over the life of the loan, which motivated me to pay it off asap.
This book is great for financial independence and investing beginners. JL Collins provides a step by step guide to index fund investing, much of which I followed to get my own investments started. If you’re new to financial independence, The Simple Path to Wealth is a great place to get started.
Throughout Your Money or Your Life authors Vicki and Joe continuously challenge societal and cultural norms that money brings happiness. This book analyzes the psychological side of earning and spending while offering practical steps to get your finances in order. I found many of their conclusions to be fantastic, deep and refreshingly honest. Your Money or Your Life is an especially good read for anyone trying to get their spending under control.
Thomas J. Stanley’s Millionaire Next Door emphasizes anyone can grow rich if they live below their means and prioritize frugality over social standing. Another reinforcement of the importance of taking care of your finances instead of your image.
Podcasts / Blogs
Mad Fientist website and podcast. The MadFientist approaches FI from a scientific perspective and interviews some of the most respected Fientists in the field. This is a great collection of financial independence strategy and lifestyle that I regularly revisit.
After achieving financial independence in his early 30s, Mr. Money Mustache was one of the first to share the recipe with others. His blog focuses intently on frugal living and balanced investing. I tend to use his site to validate an idea or help explain a financial concept, like the 4% rule.
The Big Short is a biographical film about the 2008 housing crisis, the first domino of the Great Recession. It puts a complicated situation into an easily understandable, informative and entertaining movie. Even if you aren’t into finance, the appalling failures of our system are worth understanding so we can better position ourselves against the next one.
Websites / Tools
Mint is a free online budgeting tool that collects all of your financial accounts in one location. It automatically categorizes your transactions so you can track expenses and manage your budget. Mint also calculates your net worth.