If you're new here, this blog will give you the tools to become financially independent in 5 years on a median salary. 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 of losing their jobs.
Here's almost a thousand online journals from people, who are following the ERE strategy tailored to their particular situation (age, children, location, education, goals, ...). Increasing 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.
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 looking for the crowd's wisdom for your particular situation in the forum journals.
If you enjoy the blog, also consider the book which is much better organized and more complete. You can read the first chapter for free, listen to the preamble, or see the reviews (1,2,3,4,5,6,7,8,9, A,B,C,D,E,F,G,H,I,J,K,L,M,N,O,P,Q,R,S,T,U,V,W,Z). Subscribe to the blog via email or RSS. Get updates on the facebook page, join the forums, and look for tactics on the ERE wiki. Here's a list of all the ERE blog posts.
When my mom was a kid, they had something called school clothes and play clothes. School clothes had to be kept clean and play clothes was something one changed into after school. The washing machine is sometimes said to be the factor of the 20th century that liberated women. I do think though, that the maxim that a task expands to fill the available time holds here too. Thus once laundry got faster we simply started doing more of it.
All that washing wears the clothes out. It is obvious from the accumulating lint that drying wears the clothes down. This is why we line dry. However, clothes fibers also leave with the water. To prevent this, wash less often by changing clothes appropriately. I change clothes 2-3 times a day.
Here’s my schedule (subject to the “sniff test”)
- Underwear and socks – 1 day.
- T-shirts – 1-2 days depending on whether I got sweaty.
- Pants and sweaters – 5-7 days, unless dirty.
- Wool things – 7-14 days but gets aired daily.
We only do full loads, one cold and one warm. I have about as much clothes as to have run out of clothes once I can do a full load. This means that my wardrobe is intentionally matched to the laundry cycle. There’s really no reason to have more clothes than that.
Originally posted 2008-04-24 07:18:44.