Author Topic: Gaining momentum  (Read 3420 times)

driftwood

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Gaining momentum
« on: March 17, 2015, 10:46:33 AM »
Found MMM last fall.

Started bike commuting to work right after Thanksgiving (if I can do it through a PNW winter, I can bike all year round)

Hit a zero net worth at the end of Feb (was negative before that)

The last few months proved we can handle being a one-car household.  Paid off the pickup truck this month.  Sold it on Sunday (to a 17 year old who had saved up cash to buy a truck... made me feel pretty happy to sell it to someone that worked that hard to buy a car the right way. I know, a full size pickup isn't mustachian for a teenager, but at least he got it debt free).

Put that money on the Escape loan, will be paid off on 1 April, then sold

We'll be moving to England this summer, so that helped me convince the wife to sell the Escape and buy a sub-$4K car for cash when we get over there.  No more car loans ever! 

This is the first year we'll max our IRAs.  Also investing in an index fund.  Pretty excited about the shift from paying off debt to my money earning money for me! 

MooseOutFront

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Re: Gaining momentum
« Reply #1 on: March 17, 2015, 10:48:28 AM »
What a great sequence of wins!  What takes you to England?

vulgar_girl

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Re: Gaining momentum
« Reply #2 on: March 17, 2015, 10:54:00 AM »
Awesome!  Sounds like you have good plan and are sticking to it!  We are sort of on the same track.  Looks like we got on board around the same time too.  I will be following your progress.  Maybe we can help motivate each other!
« Last Edit: March 17, 2015, 12:13:00 PM by vulgar_girl »

driftwood

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Re: Gaining momentum
« Reply #3 on: March 17, 2015, 11:01:42 AM »
What a great sequence of wins!  What takes you to England?

I'm in the Air Force. We'll get a Cost of Living Allowance over there, and I hope we can save most of that, but I'm not getting my hopes up until I see actual prices for groceries and such.

driftwood

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Re: Gaining momentum
« Reply #4 on: March 17, 2015, 11:08:13 AM »
Awesome!  Sounds like to you a good plan and are sticking to it!  We are sort of on the same track.  Looks like we got on board around the same time too.  I will be following your progress.  Maybe we can help motivate each other!

Sounds good!

Socmonkey

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Re: Gaining momentum
« Reply #5 on: March 17, 2015, 02:54:50 PM »
Quote
I'm in the Air Force. We'll get a Cost of Living Allowance over there, and I hope we can save most of that, but I'm not getting my hopes up until I see actual prices for groceries and such.

I wouldn't worry too much. The 5% surcharge everyone pays at the commissary goes towards keeping groceries at stateside costs while overseas. I have always been able to save all my COLA. Overseas is where the real money is made while in the military. I spent 10 years overseas and when I got back, I was amazed at the decrease in my pay.

In England you will be on OHA, so they tell you your housing allowance cap, and they pay your lease up to the exact amount stated on the document. Some people make arrangements for a higher lease, and have the landlord pay utilities under the table.

The roads around the bases are narrow and can be dangerous for biking. I would actually recommend living in one of the more populous cities in the nearby area. Bury St Edmunds is ok, I lived in Cambridge and loved it. Definitely not recommend Thetford at all. I would say the increase in costs to commute is worth the experience of living with the locals in other countries. If you chose to live on base, then it won't really feel any different than anywhere in the US.

The best part of being overseas, is the ability to now stay overseas if you want. You can message me if you have any questions about it.

clarkfan1979

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Re: Gaining momentum
« Reply #6 on: March 21, 2015, 11:11:24 AM »
Found MMM last fall.

Started bike commuting to work right after Thanksgiving (if I can do it through a PNW winter, I can bike all year round)

Hit a zero net worth at the end of Feb (was negative before that)

The last few months proved we can handle being a one-car household.  Paid off the pickup truck this month.  Sold it on Sunday (to a 17 year old who had saved up cash to buy a truck... made me feel pretty happy to sell it to someone that worked that hard to buy a car the right way. I know, a full size pickup isn't mustachian for a teenager, but at least he got it debt free).

Put that money on the Escape loan, will be paid off on 1 April, then sold

We'll be moving to England this summer, so that helped me convince the wife to sell the Escape and buy a sub-$4K car for cash when we get over there.  No more car loans ever! 

This is the first year we'll max our IRAs.  Also investing in an index fund.  Pretty excited about the shift from paying off debt to my money earning money for me!

Good work. Keep it going.