Resources

Personal Finance Book List: Edition #1

I absolutely love to read, and recommending books to others is an absolute joy. Today I want to introduce you to some fantastic books to read on your personal finance journey. They cover a range of topics from investing to minimalism.

The Year of Less — Cait Flanders

This is a phenomenal book that really makes you examine your relationship with the stuff in your life, and whether you are a mindful consumer. Cait provides a refreshing and honest view of she overcame her unhealthy relationship with money and material possessions. The book definitely made me start selling my unused items on Gumtree and think about my purchasing decisions. Ask yourself — ‘Do I really need it?’

The Simple Path to Wealth — JL Collins

If you’re looking for a book that gives you a no-nonsense approach to planning your financial future with the greatest level of ease possible, then this book is the one for you. Although written from a US perspective, JL certainly includes useful aspects in this book for all readers and is a huge advocate of making money simple and easy to understand. One of the reasons so many people stay away from the share market, is the sheer number of products and companies out there to choose from, but JL cuts through the noise and points you in the direction of index funds, or ETFs (for Australians) and examines the simple math behind building wealth through it.

The $1000 Project — Canna Campbell

This book has a big focus on starting your saving and investing journey, by breaking it down into achievable $1000 chunks. She goes through most of the traditional money saving methods such as selling your old stuff and renting out a room while putting her own spin on it. It’s worth a read if you want some help in setting your financial goals and intentions out.

Unf**k Your Finances — Melissa Brown

This is the financial freedom handbook for Gen X & Y. In this book, Melissa teaches you how to ‘financially adult’, by helping you sort out your financial life, become financially resilient and finally to become financially well. The book breaks down key financial concepts into easily digestible bites, from your financial goals to debt. Melissa runs an accounting and financial planning business and is a regular writer in Australian financial publications.

People say that money is not the key to happiness, but I always figured if you have enough money you can have a key made. ~Joan Rivers

Millennial Money — Patrick O’Shaughnessy

Patrick uses this book to explore one of young people’s greatest advantages, ‘the chance to build a fortune by making early investments in the stock market’. He clearly steps out how to get started, and reminds young people that holding cash over time erodes your purchasing power. The book introduces three key principles to follow when investing in the stock market: go global, be different, and get out of your own way.

Feel free to let me know your favourite personal finance books in the comments below.

Until next time,

Kate

Discovering the FIRE Movement in Australia

FIRE stands for Financial Independence, Retire Early (or as some people like to call it, FIOR - Financial Independence, Optional Retirement).

It’s as much of a mindset as it is a way of life or an aspirational goal. Over the last year, I discovered this movement in Australia (which is already quite large in the US), and have dived deep into learning as much as I can.

FIRE is all about increasing your savings rate, consuming less, pursuing happiness and having the financial freedom and flexibility to choose if, how and when you work. FIRE is not necessarily about frugality (although some pursue it that way) and retiring to do nothing all day. The retirement part is optional, but by being financially independent you have more opportunities to direct your life and make decisions out from a position of strength.

When you achieve Financial Independence you gain the ability to live off of your personal finances, without the requirement of a salary to maintain your lifestyle. A common aim of the FIRE movement is to have 25x your annual cost of living invested in a diversified portfolio, with a safe annual withdrawal rate of 4%.

I guess the big attraction of financial independence for me, is the feeling of empowerment and self-sufficiency it can give you. For me, it’s not necessarily about early retirement (although I may choose that), but the ability to make choices from a position of strength and give back to the world.

My discovery of FIRE came from reading through copious amounts of online content and clicking from site to site. To get you started I have listed below some of my favourite FIRE resources from around the web (which I will add to regularly).

Here are some of the best FIRE resources from around the web:

And some more resources that are specifically Australian:

And of course some Podcasts (via iTunes):

And finally some of my favourite financial independence-themed books at the moment:

As I continue on my FIRE journey I plan to share what I learn and discover here, as a record of my discoveries and growth. Please feel free to share your FI questions or stories with me, I’d love to hear from you!

And as I read in the April 2018 edition of Money Magazine Australia - ‘Don’t make your life about money. Money is a means to an end, not an end in itself. Don’t get lost along the way.’

Until next time,

Kate

Forward Tilt

Are you looking for the next step in your personal journey? Then do I have an excellent resource for you!

Forward Tilt is a free self-paced program developed by Praxis founder Isaac Morehouse with Hannah Frankman. They provide a downloadable guide, with an accompanying podcast and email list, for those who want to get the most out of it. 

If you're interested in reading a bit more about what Praxis is about, check out this post.

There are 52 challenges which you could complete daily, weekly or monthly depending on your schedule. The tasks start off quite simple and grow with you as you get further through the guide. I’ve found the podcast very beneficial, as it’s short pieces of advice that you can take into your day.

Forward Tilt Website

Forward Tilt Podcast

Praxis FAQ

Praxis Blog

I recommend going through this guide and completing these challenges. You've got everything to gain from these challenges, so give them your best shot!

Let me know how you go with them,

Kate

Top 10 Self-Directed Education Resources

So i’ve just started Blake Boles online course, The Way of Adventure, and I wrote an introductory post over here if you'd like to learn more about it. I’m currently in the process of beta-testing the course, and as I don't have other examples to base my challenges off please bear with me as I muddle my way through.

As I’m doing various different projects during the week my challenges will be done slightly out of order, but I’ll provide links at the bottom of each post so it makes a bit more sense if you're going through in order.

This challenge focused on the theme Create, which is an important skill in our society. The ability to add value to the organisations you're apart of, will really set you apart from others who just do what’s required. This adds to your personal worth in the organisation, and makes you much more valuable to the company.

This challenge was to create a curated resource list about an area you had an interest in. I am currently learning a lot about self-directed education, economics and entrepreneurship. This list compiles the best 10 resources that have taught me a lot about self-directed learning.

Here are my current Top 10 Resources for people interested in a different approach to learning, and those wanting to take control of their own education.

Blake is an alternative education advocate, and offers trips for self-directed young adults through his company Unschool Adventures. He writes regularly on his website and social media platforms, and has written a host of other interesting articles which you can find on his website. I highly recommend reading his book Better Than College, which you can get for free if you are a teenager or student. Reading through the content Blake produces is a great introduction to self-directed education, and was definitely where I went at the start my journey last year.

The Foundation for Economic Education’s mission is to educate young adults with the economic, ethical and legal principles of a free society. They promote personal growth, entrepreneurship and individual liberty. Reading even a few of their numerous in-depth articles will really force you to learn and think, and they offer a whole host of free resources and online courses to help you do just that.

Another prolific writer and the founder of Praxis, you’ll learn a lot about alternative education from his website and eBooks. Try Forward Tilt, his new free eBook covering 52 weeks of personal development and growth, and the podcast that accompanies it. I’ve been listening to his recent podcasts, and they have definitely been opening my eyes to the different ways I can achieve the outcomes that i’ve set for myself.

This blog really has a bit of everything, and covers key topics like career advancement, value-creation and alternate ways to land your dream job. Trawl through the Praxis blog and you're sure to find a diamond that truly resonates and connects with you. I have gained a lot of insight and knowledge through the posts on this site.

Another great resource to look through for gems, certainly worth checking out. They also have a bank of free eBook resources here

A large online global liberty community that involves people across the globe. Thousands of thought provoking posts, member library, discussion forums and interesting downloadable guides. It’s worth checking out Rethinking Education by Isaac Morehouse, and having a look in their huge downloadable library.

If you you want to know exactly this alternative education concept is, look no further than this fantastic and informative website. It explains the what, how, why and when of self-directed education. The basics are clearly explained, and they have numerous informative articles to help you understand the principles of self-directed education.

Although not primarily focused on self-directed education, the message of this website is ‘rebelling against low expectations’. It encourages, assists and showcases young people who are making their mark on the world, without waiting until they’ve reached certain milestones in life. I recommend reading Do Hard Things, written by the founder’s of The Rebelution, Brett and Alex Harris.

This blog is written by an unschooler who has grown up with self-directed learning. Her website celebrates self-directed lifelong learning, and provides an introduction to those who are new to it. Check out her post Unschooling 101, it’s a great place to start exploring the concepts of unschooling.

  • Podcasts

Before I finish up I have to mention these fantastic podcasts that relate to education and personal development, and you can download all of these on iTunes.

-Successful Dropout

-School Sucks

-Off Trail Learning

-Forward Tilt

-Deschool Yourself

I hope you find some interesting content among these sites, and learn new things about self-directed education.

Best Wishes,

Kate