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.
This week I got interviewed by KimC over at frugalhacks.com. If you want to know some more details about the motivations for this site and my background head on over and read the interview. Moving on … paperbackswap.com is really working for me. I already got two books waiting for me that I would otherwise have paid a few dollars plus $3.99 in shipping to get used at amazon. Now I get them for $2.13 (indirect shipping for sending out other books). Of course I have yet to go and get a library card
. I now have a library card
.
This week’s carnivals:
