Micawber’s Favorites – June 3, 2017

Here are links to several of my favorite recent personal finance articles:

Let Me Convince You to Save Money by Morgan Housel @ Collaborative Fund

“Wealth is just the accumulated leftovers after you spend what you take in. And since you can build wealth without a high income but have no chance without a high savings rate, it’s clear which matters more.”

I believe your personal savings rate is the most important measurement in personal finance. It doesn’t sound like I would get any argument from Morgan Housel. This article is full of great ideas and memorable quotes. For example, speaking to people who continue to spend more after satisfying their needs and some wants, Housel offers this sage advice: “One of the most powerful ways to increase your savings isn’t to raise your income, but your humility.” I really loved this article.

Think Like a Bronze Medalist, Not Silver by Derek Sivers @ sivers.org

“Instead of comparing up to the next-higher situation, compare down to the next-lower.”

Comparisons are dangerous, but if you are going to compare – and we all do – Sivers reminds us that it is usually better to compare down rather than up. The main point I got from this article is that we should try and live life with more gratitude and less regret.

The Top 5 Regrets of the Dying by Joshua Becker @ Becoming Minimalist

Great article, but I think it is mistitled. While the top 5 regrets of the dying are mentioned most of the article is about the author’s grandfather, who doesn’t have many regrets as he approaches the end of his life. The article probably should have been called “The Top 5 Ways to Live Life to Avoid Regret.” At any rate, the article has some great advice about how to live a meaningful life.

6 Great $$$ Ideas to Steal by J. Money @ Budgets are Sexy

This is a collection of great ideas sent in by readers to J. Money’s blog. Some of these are definitely worth stealing. 

Grow the Gap: Guard the Gap by Ms. Montana @ Montana Money Adventures

The gap Ms. Montana speaks of is the difference between your expenses and your income, which is another way to say your personal savings rate. I have already stated that I think this is the most important measure in personal finance. This article offers some great ideas on how to grow and guard the gap.