House Hacking, Defined Similar to life hacking or biohacking, the term “house hacking” was coined by Brandon Turner of Bigger Pockets, and is a way to buy a property and use creative solutions to free (or even cash flow positive) while renters help you pay the mortgage and your new asset appreciates in value. He literally wrote the book on the subject. House Hacking by the Numbers Housing is by far our biggest expense in the U.S. and it is steadily on the rise. Thanks to COVID, the majority of young adults (52% to be exact) are now living with their parents, something not seen since the Grea ..read more

You’ve thanked Mom for her love and support, but how for the smart money blueprint she gave you? According to Investopedia, “it’s common for one partner to handle budgeting and bill paying and another to handle all the investments, or for one partner to do all the financial tasks.” Meet our panel of mothers: Janice, mother of three, grandmother many times over, and resident of Millstadt, IL Shaikenya, mother of three grown children, and resident of St. Louis, MO Irene, first-time mother of a newborn, and resident of San Diego, CA HM: Happy Mother’s Day, Mom! You’ve always called you ..read more

There’s one particular line item I really hate in a cash flow tracker (a.k.a. budget): the “Miscellaneous” category! This is not a fun category to budget for. It’s not an exciting vacation or a new pair of shoes. Instead, it’s some random, unplanned punch to the gut that you wish had never happened. So far in 2022, I’ve had three of those: Caught COVID last month and I had to quarantine at home and miss my favorite gay holiday: San Diego Pride!  Within that same week, my car was stolen. The culprit was a squatter who had not paid rent for months. In his farewell act before being ..read more

There are benchmarks in every community. Among gym rats, that question might be: “What do you bench, bro?” Among CrossFitters, “What’s your Fran time?” And in the FIRE community, “What’s your FI and Net Worth number?” Granted, that last question is not something I commonly hear people ask each other at FI/RE community events. But if it did come up in conversation, FIRE people are refreshingly transparent about their finances. I DO include my primary residence in my net worth calculation, but don’t just take my word for it. I’ll explain the reason why I do, give examples for why some people c ..read more

You want to fly for free? And bring a friend for free, too? Knowledge is power, girl, and I’m about to hook you up! Key Takeaways A Companion Pass will allow a guest of your choice fly with you for free, unlimited times until the Companion Pass expires. You can change the named companion up to three times per year. After earning a Companion Pass, it’s good until the end of that year plus one additional year. Starting on January 1, 2023, the Companion Pass requires 135,000 points earned within a single year. Let’s say you made it to 100,000 points by December 31. Well, you won’t lose t ..read more

Just to say up front, I don’t expect a single blog post to solve an issue as complex as the racial wealth gap. If I do in fact have white privilege, what I hope might come from this post is to use that privilege to advance the conversation by pointing to some historical trends, highlighting possible causes of this heated debate, and spotlighting a couple Firestarters of Color to speak on possible strategies for the Black and Hispanic community. But first, a fun parody by SNL and some definitions… Definitions Financial Independence (or FI): as defined by Investopedia, “having enough wea ..read more

With the red carpets rolling out in just a couple weeks, I wanted to do a quick review of the 10 Best Pictures nominees for the 2022 Oscars. These reviews will be from the context of how to “Own” a money mindset. I’ll avoid spoilers here, which should be easy, since I haven’t seen half of them. ?  BELFAST As inflation rises and wages flatten, the working class are fighting to survive. Will they stay put in the place they’ve always called home, or move somewhere totally new with the hopes of a fresh start? Now substitute Belfast, the capital of Northern Ireland, set it in 1969, and mak ..read more

Happy Valentine’s Day! This year, I celebrate my latest loves in the world of personal finance, and say goodbye to some old ones. With so much competing information out there, it can be hard to know where to turn for trusted advice on money. And will the leaders you look up to at the beginning of your financial journey still be the same mentors for you years down the road?   In episode 31 of the Rich & REGULAR podcast, the topic discussed was “Have You Outgrown Your Financial Hero?” That episode from 10/31/2021 inspired me to share this list of the money mentors who I am currently l ..read more