December, with all its merry festivity, is naturally the month we contribute to our daughters’ college funds. Ah yes, just what every four-year-old and 22-month-old want for Christmas: well-funded 529 savings plans.

Don’t worry, in addition to putting $5k into each of their 529s, we did give them actual Christmas gifts (most of which were either hand-me-downs or purchased at garage sales last summer… ).  

Save On What Doesn’t Matter: Spend On What Does

This is my approach to spending money on our kids. So, yes, they both have hand-me-down cribs and a dresser we found on the side of the road, and used clothes, and toys from yard sales. And yes, they have snow pants from thrift stores and coats that don’t match; but to me, none of that matters.

Buying used stuff for your kids isn’t going to save enough money to put them through college, but it will save something and something is better than nothing.

Continue reading How We Use 529 Plans To Save For College at Frugalwoods.

The past few months have been been some of the most eventful of our lives. From welcoming our first child (ok, second if you count Frugal Hound) to buying our homestead property, Mr. Frugalwoods and I feel like we’ve been on a wonderful–yet chaotic–roller coaster of hectic-ness. Amid these changes–and largely because of them–I also made the decision to quit my full-time office job and become a work-at-home Mommywoods.

Although I only recently made the official transition, I hatched this plan quite some time ago and have steadily schemed to bring it to fruition.  As with so many things in life, several factors conspired to make this new career choice feasible for me and the opportune financial circumstances are but one element.

Our Desire For Babywoods To Have A Parent At Home

I could pretty much stop writing right here because this is the dominant reason for my decision.

Continue reading Why (and how) I Became a Work-At-Home Mom at Frugalwoods.

I devote most of my time here on Frugalwoods to discussing the power of frugality: how it’s enabling Mr. Frugalwoods and me to reach financial independence, how its application has made us happier, and how it can transform one’s relationship with our consumer-driven culture. But the very necessary other side of the frugality equation are earnings. After all, it’s impossible to save money you don’t have. So while it’s all well and good to embrace extreme frugality and minimize our expenses to the max, the key is that we’ve made money to save.

Quite a few folks have asked me how Mr. FW and I managed our careers over the years in order to save at such a high rate, especially after my recent article about how I started out on foodstamps with $2,000 to my name. And also in light of the fact that neither of us has ever worked at a for-profit company.

Continue reading Career Management: How We’re Reaching Financial Independence On Two Nonprofit Salaries at Frugalwoods.

*well sorta, keep reading…

So what’s a frugal weirdo to do when you want something that costs money, but you don’t want to pay for it? Get creative.

I wanted to go to grad school. Since graduating from undergrad in ’06, I had this overwhelming desire (delusion?) to get my master’s degree. I like school and I figured it would be a wise move for my budding career. However, I had zero intentions of paying for said grad school. After Mr. Frugalwoods and I maneuvered our way though undergrad without any debt,* I certainly had no interest in assuming any for my post-grad studies. And so, I began to scheme.

*This was accomplished primarily by the fact that we attended an inexpensive public university–the University of Kansas–and both had scholarships, worked throughout college, graduated on time in four years, and had assistance from our parents (thank you, parents–that’s the best gift you could’ve ever given us!)

The Golden Ticket Of Free Tuition

Being neither independently wealthy (at age 26) nor a thief, I knew I’d have to devise an inventive means to get through grad school without paying.

Continue reading That Time I Went To Grad School For Free* at Frugalwoods.

If you graduated high school and are headed to college next month–congrats! Mr. Frugalwoods and I enjoyed that path just a few (ok more than a few… ) years ago and it truly is a magical time. Life is unfolding before your very eyes, you’re about to leave the nest, and the possibilities for your future are endless. But there’ll be time for all that poetic soul searching (not to mention toga parties) later. First, you’ve got to get through college with with your finances (and liver) intact.

It’s totally possible to snare yourself with lifelong debt during these four blissful collegiate years. But fear not, it’s also entirely possible to lessen the financial blow. I know that money isn’t exactly the most thrilling aspect of heading off to live on your own for the first time ever, but, fiscal responsibility doesn’t condemn you to an ascetic existence in the library.

Continue reading Our Guide To A Very Frugal (Yet Still Awesome) College Experience at Frugalwoods.

May always makes me nostalgic for the day nine years ago when Mr. Frugalwoods and I graduated, hand-in-hand, from college. Ahh, we were young, in love, jobless, broke (though without debt), and blissfully happy. We were reminiscing about our early post-college days this weekend and it inspired me to share all the stuff that I wish I’d known when we graduated. I won’t say it’s the stuff I wish someone had told me, because someone probably did and I probably just didn’t listen…

I’ve divided my advice here into two segments: before job and after job. Yes, this is an early retirement blog and yes, Mr. FW and I plan to quit our 9-5’s and retire early to a homestead in the woods. But, we wouldn’t be able to even imagine that future if we hadn’t both gotten jobs right after college, worked our butts off, and saved a ton of money.

Continue reading Frugal Advice For New College Graduates at Frugalwoods.

I feel extremely fortunate that I’m not in that position. I do (what I feel to be) important, engaging work with people I respect and appreciate. I also want to attain financial independence.

Incongruous? Poppycock!

What are my reasons for being FI driven while still enjoying my job?

• I never want to be in the position of having to work a job I hate. I wouldn’t go so far as to call this a fear, but a healthy recognition that it is a reality for many, many people.

Continue reading I don’t hate my job at Frugalwoods.