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.
A better way of “growing” in a limited world is to increase quality. Make things better fitting, smaller, and more efficient instead of just making them bigger and more powerful. With that in mind, here are the best posts of April 2008.
Stuff budget:
- Going in: 17(+25) lbs
- Going out: 18 lbs
The outbound stuff comprises some bicycle stuff I bought (ARGH!), 9 books and 8 DVDs/CDs that I swapped (shipping only), and 4 books I bartered for a 25lbs bicycle. Yes, you read that right! 🙂 Still, the budget is negative although I am clearing some shelf space in the process which is great! DWs stuff budget was very positive. She gave a bunch of things (yarn, baseball cards, books, …) up for freecycling, yay! This also means that I can seriously begin claim one of our excess bedrooms as an office, that is, a tax deductible business expense (I got my business license for my freelance job back from the city). Incidentally, freelance earnings for March covered all living expenses for the second time.
