Community Extras – Week of 11/15/21
Good morning! Here are this week’s bonus tips and nuggets from around the community. To get these every day in your inbox, sign up to our daily newsletter where you’ll see these faster, as well as our top 3 curated articles every day!
👉 Grab a #GivingCard and Do Some Good 💙
We wanted to do something special for the holiday season this year, so we asked our Motley Fool corporate overlords for some extra budget, and, after making us sit through a two-hour PowerPoint presentation on company financials as punishment, they generously obliged 😉
So what we’re going to do with this extra budget is give away a batch of All-Star Money physical gift cards, each with a value of $25 (pictured above). But here’s the twist: when you get one, you have to use it to do something good for *someone else.*
We spend so much time thinking about our own finances all year, so this is a chance to think about others around us and come up with a small, special thing we can do right now to create some unexpected joy in their lives.
To apply for a card (what we’re calling “giving cards”), just fill out the request form here and tell us how you plan to use it for good this holiday season. Supply is limited, so we’ll review all the submissions and choose the ones that feel the most creative and sincere. Once we’ve chosen the winners, we’ll put a card in the mail for you!
Good luck! And happy giving!
👉 Reminder: You Don’t Need a Reason to Save
Saving money is always a good idea, even if you don’t have any current plans for it. Life can be cruel. Job losses, permanent injuries, divorces, and so on. Having money on hand will provide security and peace of mind while keeping your head above water, during such turbulent times. Having room to move when life doesn’t go your way is an incredible thing.
Life can also present unexpected opportunities. Business opportunities, unexpected slow down in house prices, unexpected investment opportunities, and so on. Again, having money on hand for these moments allow you to pounce immediately and take advantage of these opportunities. Life can swing your way unexpectedly.
Saving for the sake of saving is highly underrated.
👉 Black Wealth Friday
Black Wealth Friday is an annual event that takes place during the weekend of Black Friday. On Black Friday, it is estimated that people of color spend 1.54 Billion dollars in a single weekend, which represents 17% of the total spending on Black Friday. Our goal is to have people of color invest a small portion of their normal holiday spending budget instead, so that we collectively turn the largest consumer spending day of the year, into the largest wealth creation day of the year.
Join the movement → melaninmoney.com/blackwealthfriday
👉 401(k) Limit Increases
The 401(k) limit will increase by $1,000 to $20,500 in 2022. If you’re one of those ass kickers who is maxing out their 401(k), you might need to log in to your 401(k) account and increase that by a bit for next year if you wanna take advantage of every penny of tax benefit.
The IRA limit will be the same. So if you have a $500/month auto investment into your Roth IRA set up, LET THAT BABY RIDE. That’s good for another 12 months.
👉 This week around the community:
- More Money Podcast hits 300 episodes
- Incoming Assets hits $650,000 net worth
- Heartland on Fire hits the double comma club!
- Retire by 40 says goodbye to their beautiful cat 🙁
- Our Debt Free Journey welcomes home a baby girl
- EAT Money also welcomes home a new baby!
- Save My Cents gets a new job at a Fortune 5 company
- TA from Monevator reflects on 6 months of being FIRE’d
- Becoming Minimalist‘s new book (Things That Matter: Overcoming Distraction to Pursue a More Meaningful Life) gets a publication date: April 19, 2022
- From One Geek to Another celebrates 100 blog posts
- The Poor Swiss celebrates 4 years of blogging
- Accidental FIRE celebrates 4 years of blogging (and semi-retirement)
- A Gai Shan Life celebrates 15 years of blogging!!
👉 Upcoming events in the community:
- “Wallet Activism” Launch Parties — In person launch party on Tuesday, November 16, 2021 @ 6 PM PT (San Francisco, Green Apple Books on the Park). Virtual launch party Saturday, November 20, 2020 @ 9 AM PT
- Marriage Kids and Money Meetup — A casual meet up to talk about all things family, money, work, side hustles and life! November 19th from 1-3pm, CST at the Frothy Monkey in Franklin, Tennessee
- Adventures in Mobile Homes — A 2-hour LIVE training class on how you can get started as a mobile home investor. Tuesday, December 7th @ 7pm Central via Zoom
👉 A lively thread at All-Star this week:
- Twitter: Name a personal finance RED FLAG 🚩
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