FAQs

 

How to pass Leapforce exam? It’s our opinion that everyone fails the first test. See the review for more info.

Auto loan for credit ghosts? That’s a really good question. I used to be a credit ghost so I paid cash for my car and I recommend you do, too.

  • Will your parents lend you money?
  • You can also try a small, local credit union.
  • How about Peer2Peer lending?

Why should you invest early? Why invest early? Retire Early Math? Why investing early is important? Because compounding interest is freaking insane! Check this out.

Would you rather have ten million dollars, or a penny that doubles every day for a month? I’d take the penny! The penny turns into $0.01 * (2^30) = $10,737,418.24 (Assuming 31 days in the month, there are 30 doublings. E.G. the first day you start with $0.01 and get no more money. On day 2 = 2^1, on day 3 that’s 2*(2^1)[2^2] on day 4 that’s 2*(2^2) [2^3]… etc. until you get Final=Principal*(2^(n-1)) where n is the number of days

Early Retirement Investment Strategies? Don’t go to college. Don’t get into debt. Get a job. Save money. Live below your means. Retire early.

Can you use Metro PCS on FreedomPop? I’m not sure what you’re asking.

Can I watch Netflix on FreedomPop? 500 free MB isn’t going to get you far. A movie is in the range of 350+MB. And we don’t like FreedomPop, either.

How to set up a Google Voice home phone? Here you go!

Americans are ridiculous during Black Friday. Not exactly a question, but I agree.

Want to see cyrus money?[sic] Hmm… Try this article.

Stock investor vs. engineer? Don’t become an engineer for the money!

Will Zact charge for data if I use Wifi? Nope. Neither will Republic Wireless or any traditional phone carrier like Verizon, AT&T, and Sprint. We strongly recommend you use Wifi.

Engineers investing article? Try the whole website! We’re both engineers(Chemical & Mechanical).

Metal bracket under key on mac wireless keyboard? Spacebar nib broken? Yeah, they break. You have to get creative. My solution still works. Check it out here.

Personal finance for engineers? Budget for engineers… etc. Learn to cook. Invest. Invest early. Invest often. Max out your 401k match – it’s free money. Drive a used car. No, I don’t care that you can “afford” a new car. Don’t give in to lifestyle inflation. If you’re going to drink, do it at home where it’s cheap and invite people over. If you travel for business, get a frequent flyer number and rack that shit up. Use direct deposit! Direct deposit to your checking, savings, investment account before you ever spend. Pay yourself first. Set aside money to burn frivolously on things like Arduinos and books – you won’t feel bad knowing it’s part of your budget. Make a budget. Budget for one-time costs over the course of the year (holiday travel, car repairs, taxes). Spend less than you make.

Is Zact cell phone plas a phone scam[sic]? Wallet Engineer #2 and his wife both use Zact for their smartphones for talk, tax and data. And they’re happy. Only Republic Wireless and Zact have 4G available on an MVNO.

a credit card is a convenient way to optimize your budget? This one got me thinking. I’m slowly starting to dump all my regular  bills onto my credit card – gasoline, phone bills, etc. We’ll see how it turns out. In general, using cash results in less spending than credit, though.

cancelling credit cards over the phone or in person? Tell them you’re moving out of the country. I always use Germany. Same goes for canceling Comcast.

frugal tips to save money?

I actually just started logging my monthly budget over at Wallet Engineers
starting with my March expenditures published today!
Keeping housing low is a big step! I’ve never lived alone, which causes housing to drop a bit. I
recently moved to a more expensive town for a new job and I now have two
roommates. Consider renting or buying something smaller – less space means less
furniture to buy, less utilities to pay, less maintenance, less time spent
cleaning – it’s endless. Free up your life!

Furthermore, I rarely eat out and set a budget for how much I’m going to spend rather than how many times I’ll eat out.
Next, I very rarely buy new clothes. Thrift shopping in rich suburbs
works out well. I bought my jeans at the Levi’s Black Friday for almost half
price and I still have them – that was two years ago! Hang expensive sweaters
and jeans out to dry on a rack or on the washer itself instead of using the
dryer – you’ll save money and increase the life of the garment! And, as far as
my generation is concerned you can wear your pants more than once without
washing them – apparently it used to be a thing to wash jeans after one wearing.
Winning.

When you go grocery shopping, use a list. Always! I buy a lot of
things like beans, rice, pasta, etc and all store brand – no need for coupons
there! The most expensive thing I eat is cereal, which I eat a lot of. You can
add steel-cut oats to your cereal to lower the price and make it more heart
healthy! When I make tacos I use a lot of “filler” – black beans, onions,
poblano peppers – mmm. Poblano peppers are much less expensive than bell
peppers, FYI. You can usually buy a pound of Poblanos for the price of one bell
pepper. Eat leftovers. Have healthy snacks like apples and bananas in plain
sight – they’re very inexpensive!

As far as my vehicle, I drive a reliable old (1999) car. Low miles considering the year. I change the oil myself. I use friends and family to troubleshoot it if it does have a problem.
You can buy parts from the junkyard and swap them out. Personally, I don’t ever
plan to buy a car on credit. Cars are a dump of money, bleh. Car insurance and
maintenance are still less expensive than a new car payment and that’s only if I
have trouble with my car.

My hobbies have moderate to high initial costs, but zero or low recurring costs. For example, I own a very expensive computer than I use often, but it requires no additional cost except electricity and (not necessarily) additional software. With the cost of electricity, it’s cheaper
than running on a per hour basis. I used to have a rock climbing membership
which was $400 a year… that’s 100-150 rock climbing times for $400. Do the
math 🙂 Board games – buy them once, they last forever. Even better would be
something like hiking, visiting art galleries, bird watching.

Cell phones – contracts are a waste of money. You can get a plan through somebody like Zact
or Republic wireless for super duper cheap. If you don’t use data it’s in the
$20 a month neighborhood. $40 or so if you use data. A far cry from the $70-$100
a month.

Also, make sure you auto-deduct any investments, savings, bills, etc. from your paycheck. If you need to, spend money in cash. You’ll be much more reluctant to spend your hard-earned money when you’re forking over real, tangible money. If you’re confident with your spending, you can use cash-back credit card rewards to save money, too.

I’m out of ideas for now.

Which is better expensive or cheap computer? It really depends. Nowadays, even cheap computers can do a lot of useful stuff. Excel files, internet, Netflix, pixelated video games. If you’re doing anything hardcore like Photoshop editing, ripping DVDs/Blurays, playing high-end video games then the extra processor is worth it. Photoshop editing and ripping DVDs are both processor intensive, so you’ll see a huge difference in performance between processor generations. Get a solid state drive (SSD). It’s amazing.

If I have 3gb of free data on Freedompop…. blah blah? I’d say you can watch between 2-9 movies on Netflix with that much data depending on movie quality. I think normally a 2 hour movie is 700mb or so.

Side hustle chemical engineer? Tutoring math and chemistry. Not many people have the level and amount of training you have in these subjects. Contracting. Starting any kind of liquid making company where your background is important. See side hustles here.

i cant cancel freedompop[sic]? I don’t doubt it. We did not have good experience with the “customer service”.

How to save $2000 in 36 weeks? Save a $111.11 per biweekly paycheck…. Or $0.79 a day. I think that’s roughly the cost of a cup of coffee brewed at home with a Keurig. Buy store brand cream cheese instead of name brand. Assuming $3.95 a gallon, and 25MPG drive 5 miles less per day. Unplug your appliances. Take a shorter shower. Turn down the water heater temp. Replace your incandescent lightbulbs. Cook at home. Spend with cash instead of credit.

can i finish 500 mb data in a month in a laptop? Between internet browsing, facebook, two e-mail accounts etc. I used 491mb of data on my phone from February-March.

If you use Pandora, Youtube or Netflix you’ll be way over.

my dividend growth retirement example? Right here. And my dividend growth portfolio is here.

What to have in wallet as teen? Up until age 15 I didn’t have a wallet. Age 16 I got a job and had to start paying for gas in the car, so a debit card and a joint credit card with a low credit limit (say $300). Parents – go over the statement each month with your kid.

Bouldering cheap hobby? Hmm… Not exactly. Shoes and a chalk bag will set you back at least $100. Membership, in my experience, is between $400 and $800. You can climb outside, but you need a crash pad ($100-$250). It’s hella fun, though. It’s exercise without “exercising”.

could a second hand prius save you.money[sic]? Yup.

 

 

What other questions do you have for the Wallet Engineers??

One thought on “FAQs

  1. Philip Joseph Bernhardt

    I am still confused………….. Who is Wallet Engineer #1 and who was # 2?

    Merry Christmas to all…………………

    Reply

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