If you're new here, this blog will give you the tools to become financially independent in 5 years. Here's how I did it and how I how I enjoy a middle class lifestyle while only spending $7,000/year.
More importantly, here's more than a hundred online journals from other people, who are following the same strategy tailored to their particular situation (age, children, location, education, goals, ...). They have increased 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.
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 on losing their jobs to the next wave of downsizing.
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 delving into the forum journals and looking for the crowd's wisdom for your particular situation.
Upon request, I post a picture of the handlebar map holder I just made for my touring bicycle.
It’s a thin piece of plywood (or whatever you have, other wood, plastic, metal) cut out to fit standard AAA road maps. It’s attached to a mountain bike handlebar with a quill stem. I drilled some holes and used two [white, see picture for positioning] zip ties to attach it to the stem. I made a cut out at the top to make room for the bolts where the handlebar attaches to the stem so the map holder rests flat against the handlebar with very little flex.
The map will be held to the wood with the four rubber bands. Obviously it doesn’t work in the rain but it will be easy to fashion a plastic cover for that eventuality.If it rains, just put the map in a ziploc bag.
If this seems like too much work (it really wasn’t… two cuts with a saw, four holes, and some sandpaper) you can buy a similar map holder at REI for $20. This one only costs a few cents to make.
PS: If you want to subscribe to the blog, click on the RSS feed and your software will probably take it from there. If not, google for an “RSS reader” (I like shrook for Mac OS X), install it, and you’ll be on your way.
Originally posted 2011-05-22 17:42:32.
