Where will yours lead?
If saving money is wrong, I don’t want to be right.
Welcome to The Frugal Path. A site dedicated to helping you find your path to financial independence. Let’s face it, there are hundreds of media outlets touting their method as “the one surefire way of achieving financial security.” But does this one-size-fits-all approach for reaching financial nirvana work for everyone? I really doubt it. While a particular plan may work for some people, I’m not sure that there is one silver bullet method that works for everyone.
Your Path, Not Someone Else’s
We’re all unique with different needs, wants, talents, desires, flaws etc… You get the point. Since we’re all individuals, wouldn’t it make sense for each of us to have our own paths for achieving financial independence?
I’ve read dozens of books and attempted to follow the steps that the authors laid out for achieving financial success. While parts of each book worked, there were several areas that just didn’t fit my specific needs. My current financial plan is an amalgam of information that I have learned from books, websites, radio, television, and even personal experiences.
Universal Truths of Personal Finance
While everyone should follow their individual path for financial independence, there are a few universal truths which must be followed to achieve success.
- Live beneath your means.
- Plan for the future.
- Be prepared for emergencies.
- Save for the future.
While there may be outliers who achieve financial independence without following these universal truths via winning the lottery, lawsuit, or receiving an amazing inheritance, it’s almost impossible to achieve financial success without following these truths.
Read, Read, Read.
I’m a big fan of the old cliche: knowledge is power. Without knowledge you wouldn’t be able to know whether or not it makes financial sense to refinance your mortgage. You also wouldn’t know how much to save for retirement or be able to take full advantage of tax breaks you may qualify for. This list is unlimited, but by being ignorant of something you are unable to use it to your advantage.
This is why I am a fan of reading. Fiction, non-fiction, you name it I’m a fan of reading it. The written word is my favorite choice for learning because of its permanence and the ability to quickly find what you’re looking for.
If you’re interested in books that can help you find your financial path, please check out the books that I’ve reviewed. The list is constantly growing. I read, re-read in many cases, each book before I write the review so that all of the information is still fresh. However, this list cannot be thought of as comprehensive. There are so many books that I have yet to discover. If you have a book that you think I should checkout and write a review for, please let me know.
Share Your Path
My favorite section of The Frugal Path is the Share Your Path page. We all have that one financial situation that others can learn a valuable lesson from. Whether it’s a success or failure, your story can be a great way to share your experience with others. If you’re interested in sharing your own path please check out the guidelines.
Let Me Know
I love to hear from my readers. If you have any tips, ideas or suggestions I’d love to hear from you. I also love hearing personal finance stories, answering questions and just talking about personal finance.
The Frugal Path on Facebook: Please, don’t forget to like us!
The Frugal Path’s Blog: I’m trying out a new format, but the blog is still here. If you prefer experiencing The Frugal Path the old way, please check out the blog.
Ask Justin: Personal finance is a massive topic. If you have any questions, please let me know. Odds are that you’re not the only person with this question and I’ll do my best to answer it or point you in the right direction.
If none of these options appeal to you, there’s always the contact page. Come, begin your journey down The Frugal Path to find out where yours will lead.