Picky Flamingo – Weekend Reads (26/05/2018)
I am excited to announce Picky Flamingo – Money Flamingo’s Weekly Roundup.
Picky Flamingo is a collection of the best articles I’ve come across during the past week.
Expect most of the articles to be from Australian contributors, but you will also find some great international content (that is relevant to Australian readers). The focus is on the themes we talk about here at Money Flamingo – investing, financial independence, early retirement, personal finance, frugality, lifestyle and happiness. Picky Flamingo is published every Saturday morning. If you would like my weekly picks to be delivered to your inbox, make sure to sign up for the newsletter.
Presenting the first edition of Picky Flamingo:
The digital economy has given us cheaper (and in some cases free) alternatives to many traditional consumer goods and services. Case in point: When is the last time you spent money on a CD? On your next holiday, will you take an Uber to your Airbnb or a taxi to a hotel? In his excellent article on de-monetetisation, The Escape Artist argues that these days, “you can just move up the Consumer Sucker scale and pay more for basically the same shit. Or you can save that surplus income and buy your freedom.” What a great read!
The revelations from Banking Royal Commission have shocked all of us: Lies, fraud, bribery, ruined lives. The behaviour of Australia’s big banks is truly appalling. In his latest post, the Slack Investor rants about what is wrong with the Australian financial industry.
We all know that money alone does not create a happy life. DHH, the founder of Basecamp, got rich in his 20s. You can read all about what happened next in The Day I Became A Millionaire. Favourite quote: “Once you’ve taken care of the basics, there’s very little in this world for which your life is worth deferring. You’ve likely already found or at least seen the very best things (whether you know it or not). Make them count.”
A lot of people in the FI community have a second job to speed up their journey. If you are one of them, make sure to check out Lady FIRE‘s article on how your second job is taxed. Takeaway: Claim the Low Income Tax Threshold at all of your PAYG jobs.
Now that you’ve spent the last hour or so reading the articles above, I’ve got a treat for you. Get your earphones out and listen to the latest episode of the Aussie Firebug podcast. Dave from StrongMoneyAustralia tells us all about how he retired at the ripe old age of 28. A really inspirational story!
I hope you enjoyed the first edition of Picky Flamingo!
If you have come across any quality content that you think I should read, please drop me a line – you can email me at moneyflamingo [at] gmail [dot] com or send a message via the contact form.