In the Plutus Awards Showcase, the Plutus Awards team and Apex Money highlight the best financial articles, podcast episodes, and videos from around the web each Friday. To submit an items you’ve written, created, or discovered, submit a request for consideration.
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This is the first week we’ve been in partnership with Apex Money, so thanks to the team for working with us. And let’s welcome J. Money back to curation! Please bear with us while we work out the Kinks. Here’s what we’re sharing this week.
But I Don’t Want to Be Frugal. [Clipping Chains] — “If you are new to this game, I recommend you find the bottom. See what it feels like to cut back to bare bones, because you’ll know how lean you can get when necessary. But then find a life you enjoy, and make the financial frame fit the picture. Get a coffee, but not every day. Enjoy the occasional meal out, but learn to cook your own food too. Find joy in simplicity.” Balance, you really got me. (Submitted by J. Money.)
Income Streams – Why Is It So Important To Have More Than One Today? [Wall St. Nerd] — “Every beginning is difficult. Nevertheless, you should just do it. Start with your skills – turn them into money! For example, work part-time as a freelancer and build a second leg to stand on.” Take one sunny afternoon, or several, to diversify your income. (Submitted by Tarsha.)
Wait… Did I Just Lose All My Money Investing in the Stock Market? [Bitches Get Riches] — “But despite your goals, the value of any stock you own can fluctuate up and down over months and years. To a large degree… that doesn’t matter at all. What matters is the price at which you sell a stock compared to the price at which you bought it.” I’ve been watching my portfolio tank all day and all of the night. I’m moving some of my cash alternatives into equities right now. That’s all I can do (other than building new income streams and adopting a more frugal lifestyle; see above). (Submitted by Harlan.)
Why Is Money Important in Our Lives: 7 Reasons. [How to FIRE] — “If you wonder why is money important, you aren’t alone. For many people, money can cause a lot of stress and unhappiness. However, understanding why it’s important and how you can live the life you want because of it will help you change your money story and start living the life you want.” Money isn’t everything, but it’s some things. And it’s not other things. Add it up. (Submitted by Harlan.)
Don’t Let The Awful Treasury Direct Website Stop You From Buying Series I Bonds. [Impersonal Finances] — “With inflation raging and volatility in the stock market persisting, you better believe I jumped at the chance to join in on the newest personal finance craze: Bonds, baby, bonds! With rates of nearly 10%, Series I Bonds make a lot of sense for Millennial investors.” Any hope of being a well-respected man might involve I Bonds. (Submitted by J. Money)
In defense of dollar-cost averaging. [Of Dollars and Data] — “I am here to defend dollar cost averaging as the greatest investment approach ever invented for the individual investor. How so? Because I’m going to show you how it held up during one of the worsts period in U.S. stock market history — the mid 1960s to the early 1980s. And if it worked there, it can work anywhere. Let’s dig in.” Lola’s making sense if she suggests this strategy in her dark-brown voice. (Submitted by J.D. Roth)