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.
I always smile when I hear about the backbreaking labor of using clotheslines to dry clothes instead of the backbreaking labor required to buy and maintain a clothes dryer.
When I hang a load of wet clothes out to dry I bend my back exactly three times; because I’m smart, you know π
Instead of transferring all the clothes to the hamper and bending down each time to get a new piece of clothes, I fish the clothes up and put them on my shoulder if it’s a shirt or a pair of pants or in my hand if its a small item. I do either one or the other on a trip. Then I walk out to the clothesline and simply transfer it from my shoulder or hand to the line. This happens at the speed of a slow walk.
I don’t use clothes pegs. It’s not very windy around here, so I merely hang the clothes. If I hang it right, it will have few wrinkles too. Another advantage of not using clothes pegs is that once the clothes are dry, a slight puff of wind will blow some of them to the ground. That way I know they’re dry without having to walk over and check (I can see the line from my bedroom window).
Originally posted 2009-09-09 10:03:16.