If you're new here, this blog will give you the tools to become financially independent in 5 years on a median salary. The wiki page gives a good summary of the principles of the strategy. The key to success is to run your personal finances much like a business, thinking about assets and inventory and focusing on efficiency and value for money. Not just any business but a business that's flexible, agile, and adaptable. Conversely most consumers run their personal finances like an inflexible money-losing anti-business always in danger of losing their jobs.
Here's almost a thousand online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing their savings from the usual 5-15% of their income to tens of thousands of dollars each year or typically 40-80% of their income, many accumulate six-figure net-worths within a few years.
Since everybody's situation is different (age, education, location, children, goals, ...) I suggest only spending a brief moment on this blog, which can be thought of as my personal journal, before looking for the crowd's wisdom for your particular situation in the forum journals.
If you enjoy the blog, also consider the book which is much better organized and more complete. You can read the first chapter for free, listen to the preamble, or see the reviews (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V,W,Z). Subscribe to the blog via email or RSS. Get updates on the facebook page, join the forums, and look for tactics on the ERE wiki. Here's a list of all the ERE blog posts.
Today, we went to the mall to use a $10 coupon from J_ that DW got but had no use for, so I could get some new underwear (two pairs from 13 to 9.75 minus the coupon). We rarely go to the mall and I was, I wouldn’t say overwhelmed, but maybe rather impressed by all the stuff one can buy there. It was like walking into a normal middle-class home, but instead of one of each conceivable piece of clothing and gadget one could think of there was 10 of each, and they had price tags on them. Now I know what an anthropologist must feel like when they do field-studies.
DW used her store card to get them to keep sending us coupons, which resulted in the following ironic conversation.
J: It’s funny, so you just give someone a piece of plastic and you can get stuff?
DW: Yes, wanna go get some more?
J: I can get everything I want with a card like that?
DW: Everything you want!
J: Might be a problem; I don’t really think they have very much that I want.
Hopefully, we weren’t too loud to disturb the harmony of the other shoppers with our scientific discussions which must have come across as a lack of faith. The natives seemed so content, almost religious, getting stuff and bringing it back to their houses.
It was a strange experience.
