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.
I am currently suffering from gadget-lust, which I honestly thought I had cured myself off. My object of desire is the Kindle 2 and in the past I would probably have bought it right away. I have several meters (guessing over 20) of books stored offsite(*) and the idea of having them all accessible on a tablet is very appealing.
(*) My parents’ attic.
However, the K2 costs $359. That amount would also buy a netbook which I think could read the ebooks as well. Alternatively it would buy a vitamix blender, which I think could blend the books.
Besides, having found other sources (library and swapping), I have not bought a book in a long time, Given that I practically only pay postage to read the books I can’t get from the library but which I can get from paperbackswap, $359 would last years. Naturally the downside of the library is that you can’t keep the books for more than 4-6 weeks, also I frequently have to wait about a week to get a book, because most of what I read comes via interlibrary. The downside of paperbackswap is that it can take months before a match shows up, but they do (occasionally) offer books that I can not get via interlibrary(*). Also it takes up storage which comes at a premium, especially in the RV — I have a few boxes of books stored underneath. Guess how often I read those. That’s right, effectively never.
(*) Libraries don’t carry all the books in the world. They sometimes toss books that are not checked out often enough, kinda like real people, think storage costs.
In conclusion, I’ll be waiting until they drop the price to around $100.