Cash Crunch Problem, What Would You Do?

I’ve detailed in an earlier post how I’m building net worth, but losing cash every month. This is a result of me putting a lot of my savings into my 401k. The problem with it is that 401k’s are illiquid. I don’t even know if I should even factor in 100% value of my 401k into my net worth because of the immediate 10% penalty that comes with it. Maybe I should value it at a 10% discount until I’m 59.5. I don’t know. Anyways, the high amounts I’m putting into my 401k is creating a cash crunch problem. Meaning that unless I can come up with a solution in the next month, I will have to rely on paying credit card interest (gasp!). 

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Driving on The Highway and Personal Finance

As I mentioned in my last post, I’ve traveled from Alabama back to my home state of Texas. With that travel came with 10 hours driving on the highway. I’ve noticed a few peculiarities during my road trip that is very transferable to personal finance and getting ahead in life. 

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3 Ways to Take Care of Your Body, Your Greatest Weapon

take care of your bodyWith all of the saving, investing, and personal finance that I focus on, it’s easy to neglect the other aspects. There are more important things than saving and investing (what?!) in life. Things such as family, relationships, time, happiness, ethical values, and most of all, health. Neglecting health could equate to thousands of dollars of medical bills. Our bodies depreciate as time passes. Therefore, why not take good care of it, which is potentially your greatest asset that you could have. Take care of your body so you can live longer. Not just longer, but better as well. Best of all, there are free activities that you can do to get more health. Sounds like a great deal to me!

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Make the Most of Time and Achieve More

Most of TimeTime is finite. Yet for some people, like Jack Dorsey who runs 2 multi billion companies, it almost feels like they are breaking the 168 hour limit that’s set for everyone. He fully takes advantage of the seconds and minutes he’s given. It’s the biggest kind of waste when you don’t take full advantage of the time you have. Making the most of time that you are given is important to reaching financial independence.

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Be Brutally Honest With Yourself

Brutally HonestHonesty is the best policy, they say. What’s even better is being brutally honest. As humans, we have a tendency to think of ourselves to be better than we actually are. If you take a poll with a large sample size to judge a skill they have, the majority of them will say that they are better than average. Whether they say that because they actually are or because they think they are are two different things. This is called the overconfidence bias. 

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