Category: General

Prescribed Reading: The Opposite of Spoiled book review

This is the first in a series of book reviews by Mr. DoD.  His New Year’s resolution is to read 12 finance related books in 2018, which would be 12 more than he read in 2017.  We hope you enjoy the first entry in the Doctors On Debt Prescribed Reading series.

Becoming a parent is hard.  There is so much to learn about how to take care of this little life you’ve been given; it can become overwhelming.  Sometimes it feels like you’re doing everything you can just to not screw it up.  

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People Want Your Money. Defend it!

Have you seen the recent announcement about Amazon’s new grocery store, Amazon Go?  I’m a sucker for technology, and the concept is awesome:  You go in the store, take what you want, and… go.  Clever, huh?

Inside the typical looking storefront is some amazing tech.  Amazon has an advanced array of motion detectors and cameras that are able to sense what items you pick up and leave the store with, versus which things you put back on the shelf.  Walk out with your basket-full of stuff, and Amazon will automatically charge your Amazon account.  How cool is that?!  

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The Best Travel Hack Credit Can Buy

We love to travel, and although we don’t do it as much as we’d like we still try to get in a couple of trips a year. Most people would probably agree that the worst part of traveling is paying for it.  I mean, if we all could travel for free, everyone would do a whole lot more of, right?

The thing is, sometimes you can travel free.  You do it by what’s called Credit Card Travel Hacking, and it’s awesome.

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Let’s Talk About Altcoins

We hope the new year has been treating you well! Did you think we closed up shop and shut down?!  Our bad.  We know we haven’t been around much lately; it’s been a couple months since we’ve posted.  So where have we been?

Well, a sizeable investment we made in Bitcoin back in 2013 has paid off over the last couple of months and we are happy to say we’re now Financially Free and newly retired… we wish!  You weren’t really buying that were you?  

The truth is, life got in the way so-to-speak and we haven’t been able to put our complete focus into the blog.  We plan to get back on track and look forward to settling into a good routine in 2018 of giving new and original content to our readers on a regular basis, and that starts today.

Speaking of Bitcoin, how about that run it was on, huh?  If you hadn’t heard of Bitcoin in the middle of 2017, you had by the end of the year.  The frenzied pace at which the buying, the media coverage, and the hysteria occurred was fascinating to watch.  If you had any skin in the game it was even more than that. Continue reading

How We Made $27k On an Investment and Might Have Just Ruined Our Financial Plan

Well, this is awkward.  We just made a decision that is going to change our financial plan forever.

We feel like such hypocrites.  For 6 years we’ve been slogging away at our student loans, throwing as much money at them as we can each month in order to become debt free.  We’ve championed the virtues of frugal living to our friends and family, and in July 2016 we even started this blog to bring our views to the masses.

Our plan had been to live frugally, keep expenses small, keep loan payments big, and get out of the student loan vortex ASAP.

Did we just ruin it all?

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Are We Depriving Ourselves?

I read an article recently by Live Free MD, via the White Coat Investor.  It was about Financial Indpendence being a continuum, not a specific number.  In other words, it’s not something you reach all of a sudden; as your portfolio grows your goals should grow with it.

I like Live Free MD’s philosophy on money, and you should head over to his blog if for no other reason than to read about how he paid off $400,000 in debt in a few short years.  

His post on Financial Independence being a continuum was a fun read.  It laid out specific goals he has at different stages of his net worth.   He is absolutely dedicated to reaching FI, and it was interesting to see how he laid out specifics for what he would do at each stage, especially in regards to how much vacation he would allow himself if he was at $0 net worth vs. $500k net worth and beyond.  

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Do What You Love (As Long As It Pays The Bills)

Having a child changes your perspective on things, as every parent knows.  Recently, I’ve been thinking more about the advice I’ll give once my kid starts talking about what they want to be when they grow up.

A common response I hear whenever this question is posed (by someone of any age), is “Do what you love.”  In a perfect world, that is absolutely the best answer.  It’s the answer I’ll give when my child is young and lives life with no preconceived notions of what’s possible.  

The reality is, as idyllic as it may be, doing what you love isn’t always the prudent decision.  When you’ve got bills to pay and loans to honor, the first thing you need is a paycheck.  Maybe that sounds harsh, but it really shouldn’t.  It’s just the fact of the matter.

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Decisions Make a Difference

Most things in life worth doing involve periods of excitement, fulfillment, and happiness, punctuated by moments of terror and self-doubt.  Paying off a ginormous loan is no different.

I’m totally guessing here, but I would say that about 90% of the time, we are perfectly happy and content with our student loan repayment plan.  We see the forest for the trees, so-to-speak, and always try to focus on how we assume we’ll feel at this end of this journey.  Even when we get frustrated from time-to-time about how strict we have to be with ourselves when it comes to spending money, we usually can still keep our eyes on the prize and focus on a debt-free future.

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Keeping Our Perspective

We try hard to be as frugal as possible.

As I type this, I’m writing it on a brand-spanking-new Samsung Chromebook 3.  I bought it for $189.00 at Walmart a couple weeks ago.  I needed a replacement for my 2007 Macbook that takes 10 minutes to boot up these days, so I did some research on the cheapest and most effective Chromebooks.  The Samsung 3 kept coming up, so I threw caution to the wind and just decided to splurge on it.

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Doctor-Finance Blogs: How Many Do We Need?

How many personal finance blogs can survive out there in the interwebs? You can find anything you are looking for with a quick search of google, and personal finance has had somewhat of a renaissance lately. In fact, sites geared toward it seem to be a dime-a-dozen.

There are personal finance blogs about everything. Saving money, making money, making money on the side, investing, paying off debt, student loans… the list goes on and on.

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