Frugal Living

The Master Archive!

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Lifestyles of the Rich and Stupid

By Keith Taxguy / July 8, 2016 / 4 Comments

The lottery is back in the news with promises of a rich reward for a very small number of people who randomly pick numbers matching the officially drawn numbers. The odds are hundreds of millions to one. But you can’t win if you don’t play. Just one ticket, one little ticket. A single dollar. Better buy two; make that three.

Lottery sales shy rocket when the jackpot rises to mega levels. The impossible odds are still just as bad when the jackpot is massive. The one question I don’t hear people asking is: If nobody won the last time they drew numbers and millions played, what chance do you have of winning?

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Using Debt Intelligently: Good Debt Versus Bad Debt

By Keith Taxguy / July 6, 2016 / 9 Comments

There should be no battle between good and bad debt. Debt is not good or bad in and of itself. Debt is a tool that can be used to simplify personal and business finances or can be used with reckless abandon. The internet is filled with advice on debt. In one corner is Dave Ramsey and his ilk claiming all debt is bad and should be avoided at all cost. In the other corner is Donald Trump and his “There is never too much debt” mantra. Only rarely is someone smart enough to discern between the two camps and provide appropriate advice on debt. Today your friendly Wealthy Accountant will be said smarty-pants.

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Perspective

By Keith Taxguy / July 5, 2016 / 3 Comments

Thousands of years ago humans had a more clearly defined role in society. When food ran low the men would gather for the hunt. They would leave camp for days, or even weeks, at a time. When the prey was caught, the men butchered the animal into carrying size pieces.

Back at camp the women tended the garden and gathered plants from the surrounding area. When the men returned the women scraped the hides and prepared it for clothing. The women also dried, salted, and prepared the food.

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Cut Your Electric Bill 80%

By Keith Taxguy / June 30, 2016 / 6 Comments

Utility bills left unattended can put a serious dent in your budget. There is good news. You can reduce your electric bill 80% or more in a few short steps. Heating, water, internet and other utility bills can also be reduced by massive amounts with a few tricks.

The old adage ‘A watched pot never boils” is an apt place to begin. Before you can reduce your utility bill you need to know how much energy you are consuming. I get invited to seminars periodically that promise massive energy savings. They offer a free meal and Mrs. Accountant and I are always up to learning something new when a free meal is involved. The seminars are all the same. They try to sell over-priced products, many of which will never work if you understand even a small amount of science.

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Passive Income Hoarder

By Keith Taxguy / June 25, 2016 / 3 Comments

When it comes to passive income I have an edgy side as the title indicates. Multiple streams of income showing up in your account regardless what you are doing is a powerful force to have on your side. Losing your job is only an issue if your job is the bulk of your income. Business owners know the loss of one client out of hundreds is no more than an annoyance. You can harness the same force in your finances.

Before I list the sources of passive income I have, let me share a short story that happened to me recently. Certain sources of passive income are offered to small groups only. I was fortunate enough in my business to have one of these sources. Mr. Money Mustache, a personal finance blogger named Pete, gave me a plug, including a plug for this new source of passive income. I did not expect a lot. When the numbers were finally tallied I was surprised. The revenue was much higher than I calculated. I shared the info with Pete along with traffic data. He responded with an email saying, “Welcome to the world of passive income.” It started me thinking about all the sources of passive income I have and how passive income cements my finances regardless of the economy or my business.

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Financial Planning and the Death of a Spouse

By Keith Taxguy / June 15, 2016 / 0 Comments

There are critical times in the course of life when financial independence is at risk of destruction. A lifetime of planning, saving, and investing can go up in smoke in a few short years without an adequate plan to protect the most vulnerable member of a marriage (or any relationship, for that matter) after the death of a spouse or loved one. The trauma and grief after a loved one dies is acute. Deep pain and emptiness creates risks for the surviving spouse. Well intentioned, and lonely, people will try to connect with the bereaved. A couple committed to a lifetime of financial discipline will acquire a massive nest egg of retirement wealth. The surviving spouse is a prime target, a highly desired, person for this reason. Even people with honorable intentions can wreck havoc on the surviving spouse’s finances.

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My Allergic Reaction to Commercial Media

By Keith Taxguy / June 13, 2016 / 3 Comments

Cable TV arrived late at my household and left early. Back in the 80s and early 90s we only had local channels available over the airwaves. As the year 2000 approached I broke down and allowed cable TV to enter my home. It was a disaster. I could not believe I was paying for something that was mostly ads to get me to waste even more money. A few years later the fix was in; cable was on the way out.

My greatest concern was my family. Mrs. Accountant and the girls liked a few shows on the glass teat (reference The Glass Teat by: Harlan Ellison). I had to devise a way to cut the cord without making it look like I was cutting the cord. My idea was to convince my family we were only temporarily suspending the DirecTV account for six months as an experiment. To my surprise nobody was bothered by my idea.

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Camp Mustache III Roundup

By Keith Taxguy / June 4, 2016 / 8 Comments

There is a raggedy band that gathers in the hills east of Seattle every year over the Memorial Day holiday in the States. From around the planet they gather, each with their own unique story. I was one of those stories.

Camp Mustache III was a resounding success again this year as Joe, Kristin, and Emma put together a hell of a program. Camp Mustache is a gathering of like minded people focused on financial independence and early retirement. Pete Adeney is the guest of honor as Mr. Money Mustache.

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