Slow Progress (trying to be more MMM)

[stratozyck]

I started working a good job two years ago and came across this website/forum. I had a 401k with the max company match and had begun investing in taxable index funds shortly before - that is how I came across this place.

Coming here has definitely made me rethink costs as opposed to flat out "how much do I contribute to savings?" because if you lower costs you don't need as much savings (or can save more, etc) for financial independence.

I have had some ups and downs:

1) I tried and failed to get my job to relocate my office to a closer building that they have. I bought a bike after reading stuff here and wanted to ride it more instead of driving. My office is about 30 miles away and I live in Florida. So, no, I wouldn't ride a bike to it unless it were <8 miles. Plus, as much as MMM insists you can bike everywhere, I am flat out terrified of drivers here. Thats another story for another time.

2) I did decide to fix my old car instead of buying a new(er) one. It cost about $1,000 to fix and I anticipate some other issues would cost about $600 but they can wait. I intend to get as much out of this car as possible.

3) My wife lost her job and decided to be a SAHM. While this was a shock, I got over it eventually. When we got married 18 months ago, it appeared our combined incomes should make us very comfortable. I had dreams of saving 50% or more. That did not work out.

However, opportunity may be available to change some things. I am up for a better job with higher pay. I would have to move across the country. Luckily they are a company that has moved outside of downtown and all their offices are located in near suburbs of major cities instead of major cities. If I get it, I think there is a good chance I could locate close enough to my job to be able to bike to it more than not. I would *love* to become a 1 car family instead of a 2 car.

From this forum I also took a hard look at my student loans (~50k) and realized I could refinance and consolidate. Unfortunately, I was kindof peeved that the interest rates offered were not as good as I had hoped (5.5%) because one of my credit reports had a collection on it. I had gotten it removed from the other two and it stemmed from an apartment that tried to stick me with $2000 worth of damage repairs. They claimed I did damage to a room I never even used (I had a 2B apt and intended on getting a roommate but failed) and I had photographic evidence of no damage when I left. They had different photographic evidence that I am fairly sure was of a different apartment.

Because of that, I signed up for a credit monitoring service. Coincidentally, someone tried to take out a loan a month later. So all in all, it was a good luck I suppose. I believe it was connected to several of my accounts being hacked (most services noted someone tried to log in from China and blocked it).

Anyways, thanks for the posts and I will keep trying and also keep in mind that you can't do this all over night.

[Choices]

Welcome to MMM. It sounds like you're making some good moves.

My two cents, for what it's worth, is that "one house, one spouse" is a better financial plan than all the rest of it combined. The rest is great, and I'm all for frugality, but if you lose half or more on a foreclosure of a vacation home or a divorce, then skipping Starbucks doesn't really matter.

Congrats on your new marrige. Getting on the same page, either with lots (and lots and lots) of conversations about goals that each of you has for the future (not just what you want changed) or counseling early on can be worth hundreds of thousands of dollars later.

My coworkers who have been divorced a few times will never be financially secure enough to retire, and the ones on their first marriages are comfortable and working part-time now.

[Driko]

Also living in FL I completely understand where you are coming from on the biking thing. I remember reading what MMM said about pretty much always having a safe route, but in reality he has probably never spent a lot of time in most Florida cities. People here are nuts and I have seen way too many bikers killed just in my city alone in the last few years. I wouldn't get too obsessed with saving every penny possible. I think a lot of people come here and really try to improve which is a great thing, but they can also become too focused on minor details to see the big picture. Do you have a gas guzzler? Drive economical and save money where you can. As time goes on you will find more opportunities to save even more money.

On the moving situation, don't forget to take into account the fact that we have no state income tax here. All things being equal that alone could be a car payment and gas payment if you live anywhere close to your current job.

[stratozyck]

Thanks! If I had been allowed to relocate my office it would have been easy to bike to it as it is a few miles away and where I live the sidewalks are wide enough for golf carts. The major streets you can pass under due to golf carts.

Its not just for saving money, I also gained weight since getting married and having a kid (go figure). The new location/job is not only about money, I have no career future in Florida and even if I stay the same salary, I would have to move eventually. The increase in salary I would be getting is more than enough to compensate for being in a higher tax area.

My logic in riding a bike more is health, but also I really hate driving and having a car. Since riding a bike more I have become more aware of how car centric our society is. I think this is due to roads being funded by gas taxes and bikes not having a natural way to fund bike routes. The little bike area on the shoulder on Highway 1 where I live looks like a death lane and people have died recently on it.

That is why if and when I relocate to any new place, my focus will be on "can I ride a bike to get to work?" One possibility is Atlanta, and I have lived there before. When I lived there I could walk to the MARTA station and back (it was .5 miles). Now with a family, I don't think I could live in a small apartment, but I think I could get a house up the road that is about 2-3 miles away. I'd get a foldable bike (heck no am I locking it - I've seen everything but the locked part stolen in ATL). It'd actually be quicker because in that area during rush hour a 3 mile drive can take 20 minutes easily.

Anyways - I will ask about relocation if and when I do.

[boarder42]

You're looking at Onesy twosy things. Your wife is a sahm she should be hacking the hell out of your lives. Coupon clipping credit card hacking.

You should do a case study. In the grand scheme of things biking to work is one of the last things you can do to pinch a couple pennies.  You're looking at relocating your family to another state to bike to work. I see this as pretty extreme for a very nominal savings 
I'd imagine you have a lot of other bleeding areas and a case study is the easiest way for all of us to help you figure it out.