Author Topic: Can Mr. and Mrs. Spendy cut their way to freedom?  (Read 18677 times)

Novik

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Re: Can Mr. and Mrs. Spendy cut their way to freedom?
« Reply #100 on: January 31, 2018, 01:47:32 PM »
Regardless of all the work still to be done, you deserve big congrats for making such a big dent in your non-rent spending (and hopefully adding some nice padding to the savings/investments). Way to go! Now when you do take action on the car/rent, you will be in an even better position :)
Ongoing goals journal: Over-thinking my way to FIRE
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Hirondelle

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Re: Can Mr. and Mrs. Spendy cut their way to freedom?
« Reply #101 on: January 31, 2018, 02:33:07 PM »
Excellent progress mrspendy! Your life has gotten a lot less wasteful and I'm glad you took the effort to give us an update on your new record low. Take your time to figure out the big guys like the car and the rent and you'll be rich in no time ;)

Laura33

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Re: Can Mr. and Mrs. Spendy cut their way to freedom?
« Reply #102 on: February 01, 2018, 07:16:26 AM »
I know I said I wouldn’t update, but hit a new record low this month without really trying, so that's cool.

Congrats!  Sometimes I wonder if not trying so hard can be more effective, because it means you're not thinking money-money-money all the time -- sort of like how when you diet it's become obsessed with food, and of course the more you think of it, the more temptation there is.  I sort of did the same thing on groceries:  last year did the grocery challenge, and it felt like month after month of failing; so I said I wouldn't bother this year, and my groceries/household went down this month!

Honestly, I think you have made very good lifestyle changes, and now is the time to just settle into those and let them become habits, your new "normal."  You are in the fortunate position of making excellent money and having significant savings, so you don't actually need to sell the car or move if you don't want to.  Of course, you should anyway.  :-)  But the point is that this is all voluntary for you -- it is more about finding a purposeful life/avoiding wastefulness/not seeking happiness through material things/avoiding mindless lifestyle inflation, and less about cutting your budget back to the bone.  It is not an emergency for you, so you don't need to rush into more dramatic changes if you or your DW are not ready for them -- and honestly, you probably don't want to, since as we all know crash diets usually lead to future binges. 

I'm guessing you guys are not ready to make more drastic changes right now.  Why?  Look at the lumps you've gotten here about the StupidCar and the apartment.  But they're still around.  I understand the apartment, because of the lease.  But there is no actual reason for hanging on to the car -- and yet you still own it.  So that tells me that for whatever reason, you're not ready to let go of that level of luxury yet.

So I'm going to change my earlier advice and suggest you stop trying to force change and just sort of be for the next 6 months or so.  Let your current lifestyle settle in, see what it feels like over the longer term, and see what this "new normal" is really costing you.  Then you can take those numbers and plug them into the spreadsheet and figure out how many more years of your life you need to work to support that.  And then you can take that number and talk it over with your wife and decide if you want to trade even more years for more luxury, or cut back on the lifestyle to get more years back. 

Remember, the point isn't to race to the cheapest overall budget; it's to find the balance between Current You and Future You that maximizes your overall lifetime happiness, to spend your money consciously, and to avoid mindless lifestyle inflation.  And if where you are now feels comfortable, and you ultimately decide you're not willing to cut back on your remaining luxuries, so be it -- it's not super-Mustachian, but it's still better than the vast majority of the population.
Laugh while you can, monkey-boy

SugarMountain

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Re: Can Mr. and Mrs. Spendy cut their way to freedom?
« Reply #103 on: February 01, 2018, 04:03:07 PM »
Great read and great progress.  I am in a similar, albeit significantly older position than you.  I own not one, but two beamers, have struggled to get DW fully on board, so we still spend about a grand a month on restaurants/bars, a ton on travel, etc.  I'm hoping to get the spending under control this year so I can be part of the 2018 FIRE cohort.   We'll see.  Your post about "can't afford a dog" hit home a bit.  We have a dog & a cat and spend over $400/month on them. {Punches face silently} 

I made a joke in my journal about the fact that I could probably have a post per week in the anti-mustachian hall of shame. ($27 bag of lamb lung treats? check. $250 sushi & martini dinner? check.)