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.
The primary purpose of blog reading should be to gain understanding. Reading without increasing understanding is essentially a waste of time. If you find yourself readily agreeing with the author, chances are that you are merely reading along to have the author stroking your ego or feeling less alone. If you find yourself readily understanding what the author is saying, he either writes very well, but chances are that you have already achieved this particular level of understanding and that by further reading you are merely collecting information without increasing your understanding. Only when a blog continuously causes you to stop and think and revise your thinking will this blog increase your understanding.
Those are the only blogs worth reading(*). Unsubscribe from the rest.
(*) If you find yourself laughing out loud, you are being entertained; I suppose that is alright too.
Originally posted 2009-08-12 00:21:25.
