Debt Free Life Hacks: Managing Money Like a Boss

The New Car Loan Interest Deduction: What You Need to Know Before You Buy The One Big Beautiful Bill Act of 2025 introduced several new tax provisions, and today I'd like to talk about the new car loan interest deduction. While a potential tax break is definitely something to get excited about, please pump the brakes before diving in ( or driving off... get it? 😊 ). It's crucial to understand all the details before purchasing a car just to claim this deduction, only to discover later that you don't actually qualify. That would be a costly mistake! So is it worth your time? What exactly is it? What are the requirements? Is it even the right time for a new car? Let's break it all down. What is the Car Loan Interest Deduction? Beginning in 2025 through 2028, taxpayers who purchase a qualified vehicle for personal use meeting certain criteria may deduct interest paid on their car loan. This is an above-the-line deduction, which means you can claim it even if you take the s...

What are you retiring to? Think about this early, just as you may think about what you're retiring from. I recently listened to a podcast featuring a woman who had retired early and was feeling unsure about retirement after only six months. "I really don't know how I'm feeling about retirement anymore. I was a little excited to get here, but now I'm kind of sad being here.  I'm sad that I had a great connection with my clients and my work community, so the sadness is like I don't see these people anymore. I'm not making these connections." It's not like she had nothing going on—she had her girlfriends, enjoyed brunches and outings with them. However, she still felt a sense of sadness about losing her work connections. She had done some of the things we think are the "right" things to do—she had a pension lined up, although she was still waiting for her first check and seemed to be struggling financially in the meantime. But what reall...

Who doesn't love a high-yield savings account? I know I do. After years of being paid pennies—yes, actual pennies—on money I was essentially loaning to the bank ( because that's exactly what we're doing when we deposit money ), I was getting played. My savings were earning interest rates way below 1 percent, sometimes as low as 0.01 percent. So crazy. Once I discovered high-yield savings accounts, I was all in. It felt amazing! Instead of earning pennies, I was now earning hundreds of dollars on my savings. This is the way it should be. But here's what I learned at the end of that first year: I received a tax form—a 1099-INT to be exact—that included my bank's name and, on line 1, the total amount of interest income paid to me during the calendar year. And guess what? This was taxable income! I had to report it when filing my taxes, and I owed taxes on the amount I earned. Hello, Interest Income! What is interest income? Simply put, it's the money you earn fr...

Progress Not Perfection It's worth repeating - PROGRESS NOT PERFECTION! I know someone needed to hear this today. When I first heard it, I needed it myself. The Overwhelm Is Real I've been taking this deep dive into values-aligned investing, and here's what happens: the more you learn, the more you want to do... but also, oddly enough, the more overwhelmed or discouraged you become. Then, as I was walking and listening to a podcast (I can't even remember if it was about finances or health habits), something really resonated with me. When it comes to these different areas of life, we must give ourselves grace, be patient and kind, and recognize that it's a marathon, not a sprint. This grounded me. It reminded me to step back, recognize my abilities and limitations, take small, calculated, intentional moves, and encourage myself along the way. Finding Peace in Progress I realized that this deep dive into values-aligned investing is already a great start. Even aligning...

The Race Against Yourself   My goal is simple: be better than me yesterday—and only me. I track this progress by consistently monitoring my finances. 💰 I look to see if I'm consistently saving and mindfully spending and if my investments are growing 📈 ( acknowledging they sometimes go down, too ). This personal tracking system is a reminder and motivation to push me forward.   Here's the thing—the only one you should be competing with is yourself. You know your whole story—your struggles, wins, and setbacks. 🏆 You don't know much beyond what others want you to know about their situation, so why compare yourself to them? I've found it's healthier and more beneficial to focus on your own journey and let others focus on theirs. The Comparison Trap   Often, we look outward, comparing what others have or are doing to our own situation. 🤔 I believe this is a recipe for disaster, and here's why:   We only see what's at the surface—what people w...

I recently came across a forum post where someone was debating whether to buy a luxury vehicle. They shared that while they could "afford" a $70-80K car, they could just as easily purchase a $40K vehicle and invest the difference. That investment could potentially shave two entire years off their retirement age. So is the luxury upgrade worth it? It was a hard no from my partner, who valued two years of quiet retirement mornings over a fancy new car. This got me thinking: should we be more mindful about the opportunity costs when making big purchases? The Hidden Price Tag Sometimes we get so caught up in the moment that we make decisions that aren't just financially suboptimal—they directly impact our future quality of life. Take the example above: this person could technically "afford" the luxury car, but at what true "cost"? While the money itself wasn't an immediate issue, the opportunity cost could be a major determining factor. This is where w...