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.
Someone turned a garbage truck into a small apartment. While this looks nice and expensive in a involuntarily ironic kind of way much like a $7000 track bike turned commuter, check out the cabinets in the kitchen. Genius!
I have not made anything out of wood since that suspension bridge model in the 6th grade (always have to overdo it), but I actually think I could make something like that. If we buy that RV, that is. Currently it seems to be a competition between saving enough to buy the RV (I set a 6 month target) and finding an apartment that will take pets at approximately the same price level.
Originally posted 2008-07-23 17:58:28.
