Bachelor, fresh out of uni and on fire for FIRE

[GnSoma]

Hi all, I'm a fresh grad who's barely started work, and I'm passionate about getting disciplined and on track to financial independence :D So far it seems being single (and a slovenly guy XD) really helps in planning and budgeting, at least from my perspective. Any advice from the older / attached Mustachians on how life changes when you start budgeting for two (or more)? It's something of an unfounded (?) fear of mine that (eventually, hopefully) getting attached means jettisoning any hopes of ever retiring early, so any advice and anecdotes would be welcome ^^

[HydroJim]

I suppose I'm young to give this advice, but I think you just need to look for a like minded individual.

[SirFrugal]

Don't get married, and tell whatever female partner you find if they want equality they're responsible for 50% of the bills.  Problem solved.

[mathlete]

As long as your partner has a good head on their shoulders, two people makes the whole saving for retirement thing significantly easier. I wouldn't worry too much. Because of who you are, you probably won't be attracted to anyone with responsibility issues.

[K-ice]

For more detailed help we will need more details.

Do you have a job? Are you still living with parents?
Do you have student loans? What %?
What is your current budget, spending?
Check out how to post a case study.

My trick was to keep living like a student.

Don't let lifestyle creep set in.

Stay in that small apartment. Keep like minded roomates.

Or stay living with your parents, but don't take advantage of them. Either start paying some of the rent & bills or talk to them and agree to put x aside each month so you can move out later.

Don't get a car. Don't buy fancy clothes. Keep packing your lunch and avoid the expensive restaurants and happy hour things after work. Don't start an expensive hobby. Go only on trips you can afford and pay in full. Fear credit card debt like the plague.

If friends question why you don't buy or do xx (spendypants thing) you can say that until the student loans are paid off you plan to still live like a student. Or until you save enough for your own place you plan to live like a student.

My friend had over 100K in student loans and was living in NYC. She paid it off in 2 years by keeping the same apartment and lifestyle. After the loan was gone she kept saving and bought a condo. After that she kept saving and is mtg free. I better show her this site because she could be fire by now (before 40 but with 10y of school).

As far as getting married. For me finding a like minded SO is making the path to FIRE easier.

I don't think things need to be exactly equal but don't find a spendypants. My SO and I have swung from student to unemployed to student to great job to start up business to self employed. All options with about +/- 30K sallery difference between one then the other.

[Bracken_Joy]

Learn to be clean and tidy on your own terms, before finding a partner. A- this will help find a partner in the first place, but B- this will prevent someone from helping you leave "slovenly bachelor" status by shelling out $$$$. If you've already got your shit together in your own terms, in a frugal way, someone won't encourage you to solve it in a spendthrift way.

Also recall that depending on your career field, you can't play the slovenly bachelor for long before it starts impacting your opportunities and earnings. No one tells you this, it just subtly happens. I highly recommend preempting this change.

[GnSoma]

Thanks all for the advice and encouragement! Hopefully I can find someone like-minded, or have the good sense to know what I should (and shouldn't) compromise on :)

@K-ice - Haha as far as details go: Yes,I have a job; Not living with parents, and living and working overseas; No student loans since I was thankfully on scholarship; Currently looking at a min 50% savings rate, perhaps higher (if my estimates are accurate). Currently living the same lifestyle I had in uni (splitting rent with a few college friends, too), but you're right - even on a relatively meagre starting pay, the temptation to treat myself to a better lifestyle is creeping in. Will have to keep that in check.

@Bracken_Joy - Hmm, fair point. I guess getting good habits early on never hurts :) And thanks for the career tip! The "slovenly" part isn't much of an issue so far career-wise (I don't clean my room as often as I should, but I iron, clean, and dress myself reasonably well), but getting more organised early on is definitely something I should work on now, especially if I'm serious about finding a partner.

[calimom]

1) Financial independence is great, but learn to love the work you do.  Being happy is key.

2) Clean your damn house.

3) Learn to cook five things reasonably well.  Not only is this good from a financial standpoint, it will help you attract the man or woman of your dreams, if that's what you want.