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 here's a few dozen online journals from other people who are currently doing it. This is not some stupid get rich quick scheme. The method is robust and replicable (no need to win the lottery, sell your business, or win at real estate), but not easy; much in the same way that a diet results in weight loss but is hard to follow persistently unless you set your mind to it.
The key is to save 75%+ of your net income and invest it in income producing assets (bonds and dividend stocks). This is done by running your personal finances much like a business, thinking about assets and inventory and focusing on efficiency and value for money. See this post on how to enjoy a middle class lifestyle on $7,000/year (Please read it, especially the part about the lentils!). There is a "21 day" step-by-step plan for how to get beyond 75% in the left side bar. Also, check out my answers to Frequently Asked Questions which also covers common misconceptions regarding my personal budget, blog income, retirement, marriage, children, health care, etc. I also suggest reading About ERE in the top menu bar.
Here’s how to make refried beans (unit cost: negligible)
First you get a 20lbs bag of pinto beans for free at freecycle.org 
Second, you take a large bowl and soak the some beans in water all day.
Third, you cook them in a pressure cooker. An ordinary pot works as well, but it takes 3 times as long and requires 6 times as much electricity, gas, etc.
Fourth, you mince an onion and crush a few garlic. By a few I mean a lot
Fifth, you saute the onion and garlic in a deep pan until golden brown. Cast iron works great(*). I use one of these. Use more oil than you think.You probably want to cover 1/4 of the bottom. I used olive oil.
(*) Way better than teflon!
Sixth, get the beans out of the pressure cooker. Drain the water and dump them in the pan. Mash some of them. Stir and try to get all of them fried. Make sure they don’t burn. This should take ten minutes or so. Add oil if they look like they are going to burn. Also, turn down the heat.
Experts can use homemade lard or bacon grease instead of olive oil.
Serve with tortilla shells, rice, tomatoes, salad, cheese, salsa, olives, … or whatever you prefer.

Originally posted 2008-03-31 07:27:43.