The larch.

I bought a bicycle to commute to work, have been buying grocery and fish without a car! Has been car free for a month except for couple of occasions when I had to carry some luggage. One of them could have been avoided however. Our city was running short of gas, but I was least bothered. But still a long way to go!

We do pretty well with food and shelter, decluttering, budgeting, but the cars not so much…we both have a 25-30 minute commute, but I’m working on that. Not something you can change overnight obviously. The problem is that if we move we’ll go to a bigger house that will cost more, thus less savings. If we stay where we’re at it’s probably only for another year max due to another kid coming (if all goes as planned).

Another problem we have is it seems like we spend $50 a week at Target for household/personal items. I have no idea how it’s this much every time but it is. My wife is usually the one doing the shopping and I get the receipts and it’s not like she’s buying outrageous stuff. There is also the diaper factor for our little guy (although we use cloth most of the time). Now, this does also contain other things like clothes, gifts, etc. but it still seems like we spend a ton of money there. Jacob, how do you handle stuff like that – TP, paper towels, shampoo, etc.? Or do I just suck it up and live with it?

I have chosen not to have a car. My wife has a glorified golf cart with doors. It is plenty for the 4 of us (two kids.) And I bought it cash for $5000.

I am focusing on buying 3 properties per year that yield at least $150/ mo in cash flow. If I do this for two years my passive income will double and my savings rate for investment will be 50%.

I’m playing along… virtually, because spouse won’t do it for real

Virtual grade so far is a solid C due to familial pressures to keep car. Could find places to live for cheap (good neighborhoods even!), letting go of clutter is tough but possible, and most of the rest is already our lifestyle.

In real life, we’re getting a D. Our quite elderly parents live nearby, so we committed towards having the American-dream home and are thus paying that price. No, it’s not a McMansion, but it is spacious for two people with a large workshop and we’re gardening an acre. At the right moment, we might swap it for a cheaper equal-size home in a more rural location and live off the pocketed chunk.

It depends. I’m 22 and jobless (1.5 months). I don’t pay for rent or food, nor do I have a car. My only recurring expense is a payment on a motorcycle that is for sale. I generally go days without spending money ($8 on beer and food in the past week?) My study is fully covered by scholarship and financial aid.

Cell phone is covered by a family plan. Haven’t bought any clothes since this challenge started. No insurance, no budget, no connecting with neighbors. The costs of my hobbies (cycling, philosophy, and writing) are neglible.

Still worth about -15K, mostly in student loans.

So you tell me.

Tree? Spanish pepper tree.

The housing category is in the process of moving from an F grade to an A. Our mortgage payment will drop from $3500 (adjustable to a max of $4000) to a fixed $750 a month. Can you say Woohoo? Six adults will live in the house initially, dropping off as four of them move to different parts of the US to finish education. That will leave two adults and, by that time, the principal will have been paid down to the point that the monthly payment will be around $500.

Next up: whittling the paid-for car fleet down from 5 to maybe 2. Not ready to give up my car yet but I can part with some of them.

I forgot to answer the tree question – answer undoubtedly has to be the Coconut Palm Tree!!

“racetoendtheratrace” can you please share some info or point me in the right direction to your real estate investing strategy?

I’d really like to do something similar to you but am unsure how to raise a deposit for multiple investment properties and also am unsure where or how to find poistive cash flow properties

I hope you can help