Tiny House, Tiny Living, The Tiny Life.

Prepare to Invest

Whether you want to save for retirement, pay for your children’s college, or buy a new house, making the right investment choices will allow your money to make you even more money in order to fund your goals.

Now that my husband and I are on a solid financial footing, we are ready to start investing. There are times when this process has seemed intimidating, but thanks to a great, and patient, advisor we feel more prepared and sure that we are going to be making the right decisions.

Set Your Financial Goals:

You’ll want to sit  with your investment adviser and review a list of your financial goals. Based on your prioritized list and the time frame that you have to meet that goal, your adviser will then begin the work of coming up with some investment options and be able to give you a monthly amount that will need to be invested.

Learn About Your Investment Options:

There are many options available when it comes to investing. The long list of possibilities includes stocks, mutual funds, savings bonds, annuities, exchange-traded funds, money market funds, and U.S. Treasury securities. You may also be interested in investing in real estate, precious metals, or commodities.

With so many options available, it is important to educate yourself on the risks of each type of investment and make sure the risks are appropriate for you. We all love the idea of our money working for us, but it’s also important that you can sleep easy at night knowing that you are comfortable with the investment strategy that you have selected.

Gauge Your Risk Tolerance:

How much risk you are willing to take on depends, for the most part, on how much time you have before you’ll need the money. If you are not retiring for another 30 years, it would make sense to take a riskier approach and perhaps consider investing in more aggressive funds or forms of investment. Time is on your side, and you are in a better position to weather the ups and downs that the market presents.

If you need the money in 5 years or less, you would be looking at a less risky investment such as a bond or a money market account. Although these don’t have the high rates of return that a more risky investment would have, you are much less likely to cash out at a loss if the market takes a tumble.

Diversify Your Investments:

We’ve all heard the phrase, “Don’t put all of your eggs in one basket.” By diversifying your investments you are safeguarding your money. The idea of course being that if one investment loses money, the other investments make up for those losses. In the case of a down market, although your investments may suffer, they won’t suffer as much as they would if you weren’t diversified.

don't put all your eggs in one basketI had a former co-worker learn this lesson the hard way. When the tech bubble was going strong, he invested all of his money earmarked for retirement into tech stocks. When the tech bubble burst, so did his dreams of retirement, and as a result had to continue in the workforce past his original retirement age.

Be on a Solid Financial Foundation:

Before you start investing, you want to make sure that your financial foundation is set. You want to be on a monthly budget with a positive cash flow so that you know how much you have to invest each month.

You also want to make sure that your consumer debts and student loan debts are paid off, freeing up even more cash flow to save and invest with. Last but not least, you want to also ensure that you have an emergency fund with three to six months worth of expenses in place so that if the unexpected happens, you are not pulling money out of your investments.

Don’t Forget to Ask Questions and Educate Yourself:

With the internet and Google, it has never been so easy to find information, but sometimes that information can be as overwhelming as the thought of investing if you are just getting started. The Securities and Exchange Commission has a lot of great information if you are in the beginning stages of investing.

Also consider asking for referrals to a trusted financial adviser. Ask family, friends, and colleagues if they work with someone that they trust and recommend. My Dad’s advice when it came to looking for a good financial adviser: Don’t invest with anyone who has a smaller net worth than you.

Your Turn!

  • What is your biggest financial goal?

New Design Guide: Planning Your Tiny House

Over the years I’ve learned a lot of tips and tricks to designing tiny houses – things that can make a house feel like home, common mistakes to avoid and making the build process smooth sailing.

I’ve finally put together all this wisdom into a single guide to help you figure out exactly what you need in your home, how to place the elements and not forget critical things.  I’ve written this guide to help you design the perfect tiny house or small home.

tiny house desing and layout

Design your perfect tiny house with this in-depth planning guide. This step by step guide shows you how to determine your needs, develop a successful design and refine it to perfection. Included is our floor plan kit which has windows, doors, appliances, furniture and much more for you arrange into your dream home.

Check out the details at our store, click here

 

 

 

 

Minimalism & Diet: Simplify Your Food, Simplify Your Life

After minimizing my belongings, my relationships, and my schedule, I took a look at my diet. Minimizing my diet has been one of the biggest money savers that minimalism has brought me. Here are tips on how to simplify your diet:

minimalism and diet

1. Learn Staple Meals

Learning how to cook a few simple meals is not only a beneficial life skill, it can drastically reduce your grocery budget. I have a few simple breakfasts, lunches, and dinners that I alternate between, which makes it easy to know what to eat when that time rolls around. I know that I love all of these meals, so when I go grocery shopping, I make sure to pick up ingredients for each one.

2. Eat the Same Meals Weekly

I tend to get really into a meal, and eat it constantly. By eating the same foods over and over, you’re saving money by not needing new spices, exotic ingredients, or a vast array of groceries. I like to always have staples on hand to create any of the following: smoothies, breakfast muesli, vegan sandwiches, sweet potato and chickpea curry, burritos, and my famous nourish bowls. Nourish bowls happen when I throw the following into a bowl: some type of grain, some type of protein (usually beans, as they are so high in fiber and minerals!), loads of veggies, avocado, and hummus. This can also be a really simple way to use up leftovers.

3. Keep Snacks Simple

minimalism and diet I used to be a big snacker – and I was a fan of processed, oily, junk food. After minimizing my diet, I’ve switched my snacking habits to become a bit more simple and budget friendly. Now, I snack on fresh or dried fruit, veggies with hummus, apples with peanut butter; I try to keep it as whole-food-focused as possible. Not only does this save me money, it is so much better for my overall health.

4. Try Themed Nights

One of my favorite ways to keep my diet simple and minimal, but still exciting, is themed nights. I have a few themes that I like to work around, including tacos and docos (documentaries) night, or meatless Mondays. This is a really fun way to introduce simplified diets to children.

5. Keep it Nutritious

A simplified diet is a whole-foods focused, nutritious diet. Focus your meals around whole grains, beans and legumes, and fresh fruits and vegetables.  I like to get my food as close to the source as possible – this means farmers markets for produce, bakeries for whole grain breads, and bulk stores for whole grain pasta, and dried beans. By constantly having the staples on hand, you’ll be able to make such a variety of meals.

minimalism and diet

Minimizing my diet has improved my health, relieved stress, and made me a happier person. There are so many benefits to eating more simply and healthfully, your wallet and your body will thank you.

Your Turn!

  • Would you consider simplifying your diet?

Protect Your Wealth

You’ve worked hard and have been financially responsible. You’ve lived on less than you’ve made and saved those extra dollars. Let’s safeguard what you’ve built and look at four things that you can do to protect your wealth.

protecting wealth

Make sure you have the proper insurance in place:

Having proper insurance in place plays a critical role in protecting your wealth in the event of the unexpected. You want to make sure that you regularly review your health, homeowners, and auto insurance to ensure that you have the proper protection that is needed.

You also don’t want to forget to insure yourself and your family against any possible loss of income that may occur. Although not pleasant to think about, having a proper amount of life insurance is necessary in protecting your family’s financial picture.

Most experts recommend having enough life insurance to cover 10 times your annual income. This ensures that your family will be taken care of in the event of your death. My husband and I each have 20-year term insurance. We get the coverage we need, at a price we can afford.disability insurance

If your employer does not already offer it, you may also want to look into disability insurance so that an illness or injury will not destroy the savings that you’ve worked hard to build. Disability insurance will not replace your income, but it will provide a buffer, paying out 60% of what you would normally be making.

It might not seem likely that this type of insurance is something that you would need, but the Social Security Administration estimates that one in four 20-year olds will become disabled and be unable to work before the age of 67, so it’s better to be safe than sorry and make sure that you’re protected.

Have an emergency fund:

Setting aside 3-6 months of your living expenses will serve as insurance for the wealth that you have built and are continuing to build. The money is there when you truly need it, without having to go into debt or withdraw from your retirement savings.

We often think of our emergency fund in the case of job loss. Another good use for your emergency fund is to use it for any home, auto, or medical insurance deductible. We have enough to cover all of our deductibles. This meant that we could raise the deductibles on our various insurance policies and thus lower the premium payments freeing up some extra money each month.

Have an estate plan:

I have many friends who have avoided this step, because planning for your death is not the most glamorous of topics, but having a current will in place is a critical step in your financial plan.

Your estate plan will allow you to reduce administrative expenses and legal fees upon your death. It will also mean that you preserve and leave a lasting legacy for your loved ones. Finally, your will allows you to control, manage, and allocate who receives your assets upon your death.

estate planning

Name your designated beneficiaries:

As important as it is to have a current will in place, it is equally important to name your designated beneficiaries to ensure that your assets are distributed according to your wishes. Be sure to name beneficiaries on any assets that will allow it such as your life insurance, pension plan, IRAs, or 401 (k)s.

Your Turn!

  • What steps have you taken to protect your wealth?

How To Organize Your Life With Trello

Trying to keep on top of things in life is sometimes daunting.  If you’re like me, I’ve tried a lot of different things over the years, but finally I have found something that works for me.  It’s called Trello and it’s a free web app and also has a really good iphone app for free too.

how to organize life and keep organized

Before I get into Trello, I wanted to share a little bit about my philosophy of use and then also a break down of other things I’ve tried over the years.

Applying a philosophy of use to productivity tools

A tool is only as good as the skill of the user.  The truth is that most tools work really well, it’s when you bring a human in the mix that things go awry.  We have a plethora of tools at our disposal, what we need to do is bring in a way of thinking on how we use them and form habits around them.

Start with your goals

know where you want to go

The biggest thing I see people failing on is not having goes.  If we don’t know where we are going, how can we figure out which direction to even go?  How can we validate that the things we do are even the right things?  What if we are doing things that are actually working against us!?

Take big goals and break them down to bite sized pieces

When you are setting out on a ambitious journey it’s very helpful to think about the first step you need to take.  If you focus too much on the entire goal it can be overwhelming, it can seem impossible, but when we break it down into smaller parts, we then realize all we have to do is this one thing today.

Understand you can only work on a few things at any given time

focus on one thing at a time

In many cases it’s better to focus on one thing at a time, tackle that head-on.  I will often work on a few things at once because there is often time when I’m waiting on someone else (email response, contractor to finish work, etc).  Have a select few things means I can work until I have to stop, then transition to work on that other thing.

Understand you’ll get to the other things later

This is something many people struggle with a lot.  I see it time and time again.  When you set your goal, you must understand that trying to do all of them at once will get you nowhere.  Like I said above, focus on 2 or 3 things at once and put the rest to the side.  This is where people falter; putting things aside for now, isn’t the same as putting them aside forever.  We need to get over the emotions that

The Tiny Life guide to using Trello to manage your life

 

Your Turn!

  • What do you use to organize your life?
  • What tricks work for you?
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