Articles by Frugaling

Three Months of Frugaling: A Reflection

I looked at a pile of debt and wondered if there was a way to get back to square one: zero. Out of this came a website based on self-reflection, education, and growth. Frugaling.org came to fruition out of these desires. Three months later and over 70 articles published, the website is attracting surprisingly large audiences and helping me stay frugal.

The site was founded on May 4th, 2013, as the spring semester of graduate school was just wrapping up. I wanted to write about my efforts and find an audience. Since then, nearly 40,000 people have visited the site.

While I continue to make budgetary mistakes, I’m committed to righting my course and getting rid of debt. All summer, I’ve hustled to create money out of nothing and it’s beginning to work. I’m excited to report that the month of July was an incredible period for the site.

Major highlights this month:

Affiliate Revenue started at $125
- I wrote my first affiliate article regarding the Barclaycard Arrival World Mastercard
  Becoming a member of an affiliate network helped increase profits and meet new companies
AdSense Revenue increased from $13.68 to $40
- Solidified advertising locations and wrote consistently – these factors seemed to work together to pad budget
Over 30 Published Articles
- The reason is simple: I wrote a lot
- I published about one article per day and often had articles lined up for publication
A Week Long Challenge Attracted New Audiences
- I engaged my audience in a frugal challenge for one week
- This 7-day writing experiment caused people to revisit the site for updates and click through the entire series
- It inspired me to seek other challenges and opportunities to cultivate lasting audiences

Support From The Personal Finance Community
- Continued support from the Yakezie financial community was priceless
- If you haven’t heard of the personal finance group, check them out here: Yakezie.com
Recorded 6,645 visitors in one day
- Strong traffic caused an incredible spike in revenue and subscriptions
- This was largely credited to a couple popular Reddit articles that reached the top of “frugal”

Bitcoin: The Truest Altruism?

By Frugaling 2 Comments

A few years ago, I founded a scholarship in suicide prevention. For the efforts, a permanent endowment awards undergraduates that are looking to prevent suicides and dedicate their lives to helping others. But I always wondered what would happen if it was anonymous, privatized, and fee-less. Would people give?

That’s My Name

My name will forever be attached to the endowment. Part of me is proud, and the other part is embarrassed. The scholarship has opened doors for me that I never thought I’d walk through. I’ve followed dreams and seen my life open up before my eyes.

But my name is irrelevant. It’s not about me; rather, for everyone that could benefit from funds. Part of me wonders how the scholarship could’ve benefited from a nameless founder and private, inspired donations. Suicide prevention and fundraising is bigger than me. Now, there’s a way.

A $1 Tip

A couple weeks ago I wrote a story about Bitcoin. I included a link to support me via this burgeoning cryptocurrency (read more about how it works). In the first couple hours of the story’s publication, I received a $1 (0.01 BTC) donation.

The first thing I wanted to do was learn about the person. How could I thank them? How could I ask them why they decided to support me?

As I looked at the receipt, I only saw a series of numbers and letters. Like the code above this story, it was nameless. There wasn’t somebody to thank, ask, or inquire about the tip. Likewise, that person wasn’t asking for acknowledgement, either. I had stumbled upon something truly altruistic.

Altruism’s Existence

There’s a hearty debate over the existence of altruism. Some say it’s impossible, and that you inherently benefit by giving. When ExxonMobil plasters its name over the side of a research building at a university, they’re benefiting from that money. When I raised that money and started the scholarship, I benefited (in more ways than I could ever expect). Likely, it was the single greatest reason for my entrance to graduate school.

Suddenly, as I looked at that nameless, private, obscure code, I reveled in the altruism. Here was somebody that consciously gave without expectation or assumption of something, anything in return. Literally, I had no recourse to thank them.

While they could have felt a sense of pride in giving, this may be the most benign benefit to the giver. Could Bitcoin actually be the most altruistic form of giving?

Bitcoin’s Private Start

Bitcoin was founded by a pseudonymous group/individual entitled, “Satoshi Nakamoto.” Since the beginning, the cryptocurrency’s founder(s) stayed entirely private and unknown. Lengthy investigations by respectable news outlets have come up dry (article 1, article 2, article 3). All they have is speculation.

People continue to question, “Who is Satoshi Nakamoto?”

In the truest, most genuine, and altruistic creation, the founder of this $1.1 billion currency remains unknown and its users are nameless. Everything about Bitcoin has been designed to match the privacy of a cash-based transaction and surpass the security of a credit card.

A Private Future

From a highly-secured beginning to a powerful currency that can buy nearly anything, Bitcoin is catching on. We have long lived in a world where giving was associated with tax deductions, names, and credit.

With Bitcoin, there’s a brighter, better future. This is one where true altruism exists. Where somebody can surprise another, give generously, donate to a special non-profit, or change someone’s life – all while remaining a quiet, nameless figure.

Predictive Apps Spell Trouble For Budgets

By Frugaling 7 Comments

There’s growing interest in applications and data-mining technologies that anticipate our next move. Predictive apps collect our personal information, and turn it into suggestions, opportunities, offers, and more. Ignoring the obvious privacy policy and terms of conditions concerns, these apps are attempting to carve out their place on mobile phones everywhere.

The New York Times recently wrote about the power of “Apps That Know What You Want, Before You Do.” These predictive apps are likened to virtual, personal assistants. They’re waiting on and for you. All they ask in return is some data about you.

The article takes a keen eye towards Google Now. This Google product can “answer questions, make recommendations, and perform actions” (Wiki). With the goal of being your intelligent, predictive assistant, Google Now is installed and ready for use on all Android phones running version 4.1 and newer.

I’m not a technological caveman, but I question this development. There are sacrifices we make to give our smartphones all this data. Despite Google’s desire to innovate, it’s important to remember the purpose behind it: ad revenue.

Google’s entire business model is based on finding and publishing advertising. The multi-billion dollar industry feeds off the personalized data we voluntarily share with the company. They’ve made products and offerings that cater to user, make it easy to interact, and fun to continue. Before you know it, you’ve shared more than you know.

As the collection of details metastasizes, you can become the product. Now, Google and any other predictive tech company can better target advertising to you. This is a serious budgetary vulnerability if people are exposed to more relevant advertising.

While Google Now and its brethren may not profit directly from the app, the data behind the scenes is very real. Predictive apps are growing in popularity (e.g., IFTTT, Siri, Osito). But an alarm should be sounding: You need to consider the budgetary consequences of targeted advertising that’s only getting better.

Read more about my thoughts on Privacy vs Frugality on PTMoney.com.

Over Budget Birthdays

By Frugaling

I’m floating in the Chicago skyline; this can’t be good for my budget. Down below, the third-largest city is in full swing, but I can barely hear the traffic from here.

Here, you’re removed from polar weather, abject poverty, and even the tiling of consumption at “The Magnificent Mile.” The price I pay for this distance is staggering – embarrassing even. I hesitate to tell you. On this random Sunday night, the room costs $200.

All summer, I’ve stayed incredibly frugal – hardly ever going out to eat or traveling. To place an endcap to the academic break, a birthday party in Chicago for someone I love seemed fitting.

Activities abound in the rousing ruckus of Chicago: Runs along the lake, comedy shows, Broadway-level theatre, and more. Over the years I’ve done them all. Some have cost me a small fortune to enjoy the entertainment.

My budget – my superego – has hated me every time. Almost like an outside entity, it groans with the credit card swipes. The Excel numbers dance in place to say, “Look at what you’ve done now.”

In total, this celebratory getaway costs me a small fortune; a year’s salary for much of the developing world: $400.

Is it worth it? Yes and no.

This is the last hurrah for the entire summer. I’m stopping unnecessary spend after this little vacation until maybe December. For the first time in my adult life, I truly saved and accounted for this trip. I participated in medical experiments all season to afford this moment. And, most of all, I took pleasure in celebrating someone special in my life – taking the time to show them I care.

Unfortunately, the answer is more gray. I also have nearly $40,000 in debt awaiting me back home – in the real world. A $400 trip will still be financed because it delays that amount of money I could’ve spent on repaying debt. 6.8 percent interest from the Federal government swirls in my head on a near-daily basis.

I’m left in a neutral place – somewhere between budgetary hell and heaven.

This is what I know: When I go out with people, they frequently joke about my frugal life. I think they expect me to be cheap and greedy. What I hope they see is that I’ve adopted this spendthrift lifestyle because I’m failing.

It’s easy for me to spend and challenging to save. Maybe I’m not as good as you, but I aim to be better. I’ve wasted gobs of cash for things I don’t need, and I’m not proud of that. That’s why I’m here, writing to you, and hoping we can share in this journey back to zero (debt).