We may already be well into the new year, but I’m finally ready to share Rich Frugal Life’s 2024 budget! Why the delay? Well, life for one reason. But also, because we’ve been tinkering with our annual budget more than usual this year. I’ve only recently finalized it. Spoiler alert: Despite coming in $10,000 under…
The U.S. Bureau of Labor Statistics (BLS) just released their latest Consumer Expenditure Survey, which shows how the average American household spent $72,967 in 2022. That’s the equivalent of spending $6,081 per month. How does your household spending compare? Comparing your expenses to that of the average American household can help you determine if you are spending too much…
Today, I’m sharing our 2023 mid-year financial results. Here in the Rich Frugal Life household, we typically perform a deep dive into our finances at least twice a year. During this review, we compare our year-to-date spending to the budget, analyze our investment portfolio allocation and targets, and assess how we’re tracking towards our annual…
One of my most popular posts on the blog to date has been on how much money kids cost and whether raising kids is really as expensive as everyone says it is. Within that post, I shared a deep dive into the USDA’s most recent report on the average costs of raising a kid, and…
Did you make a resolution to start working out this year? If so, you’re not alone. Many people use the new year as a fresh opportunity to make healthy changes in their lives. Exercise is one of the best ways to improve health and longevity, so really any time of year is a great time…
Budgets seem to have a bad reputation, but I think they’re just misunderstood. When used properly, a budget can help you reach your financial goals and give you the freedom to spend lavishly on the things you value (guilt-free). I actually love budgeting and I know that our 2023 budget will help us achieve these…
The U.S. Bureau of Labor Statistics (BLS) just released their latest Consumer Expenditure Survey, which shows how the average American household spent $66,928 in 2021. That’s the equivalent of spending $5,577 per month. How does your household spending compare? Comparing your expenses to that of the average American household can help you determine if you are spending too much (or…
Today, I’m sharing the results of our 2022 mid-year financial review. Here in the Rich Frugal Life household, we like to perform a deep dive into our finances twice a year. During this review, we compare our year-to-date spending to the budget, analyze our investment portfolio allocation and targets, and assess how we’re tracking towards…
We’re increasing our 2022 budget! Although inflation is playing a part in this decision, the majority of the increase is for discretionary spending. When drafting our 2022 budget, we’d already added some extra “fun money.” However, after reading Die with Zero and reflecting on our life situation, we’ve recently decided it wasn’t enough. All this…
It’s a good practice to have a budget. How detailed and how strict you are with it is a personal decision which should be based on your financial situation and goals. We treat our budget the way we treat most of plans in life… as a “loose plan.” Our 2022 budget will serve as a…
