I totally get it about friends. We have some friends and family who buy a new bigger house every 4-5 years and have the newest models of cars (lease for 5 years instead of buying). It works for them. And as you said- we live our life our way and they are entitled to theirs. We don’t compare. Quarantine is making me realize that we have a lot more stuff than I want in my house anyway.
@permit me to applaud you for a post that bespeaks the importance of savings and so wealth building as soon as possible. A great insight to young couples contemplating to build wealth in USA. Do not save what is left after spending; instead spend what is left after saving.” ― Warren Buffett THANKS AND REGARDS. GOD- save & Bless our savings.
Thank you! The quote by Warren Buffett is spot on. Thank you for calling us “young”, I am quite flattered!
Great post @nuss , we are in path of learning and implementing the above listed financial principles!! If you know your "Why" its pretty easy to stay focused and motivated to grow NW even with single income!! We took baby steps for the past 18months and already saw great results and learning something new with investments. We usually set quarterly goals and check them as the year pass on, and will be flexible with our goal budgeting when something unexpected happens example this pandemic, we halted one of our goals and put another into priority. And we use our CCs responsibly (1% utilization every month) just to keep the credit report running..
Thanks @EverydayBloom. Nice to hear from you! You are so right.. “why” is very important to stay focused. It’s great that you review your goals quarterly. We used to have our “financial date” every six months but now our expenses are almost fixed/predictable so we decide immediate, short term, and long term goals once a year and change as needed. Flexibility is important. Things change and our priorities change accordingly.
Chase cards are great cards for collecting and redeeming points Chase Sapphire Preferred® credit card You get 60000 points after you spend $4000 in withing 3 months. It has a $99 annual fee. If you want a card to redeem for flight tickets then you have to decide where you want to travel then i can suggest some cards. How much are Chase points worth? Here's how to calculate their value
I use Amazon card ( chase credit card) and bank of America travel rewards card. Both dont have any currency transaction fee or annual fee. So I use it in my US and foreign trips. I have used it in India too for shopping. So far no issue. The rewards by chase are used for buying things from Amazon. The points by travel rewards card is used to redeem either to pay off travel costs ( I have paid many of our trips by using it) or gift cards . So many options are there. @nuss very informative post. I have not explored cards with airline miles. I will try.