Poll

What percentage of your after tax income do you save?

0%
Less than 20%
Between 20-40%
Between 40-50%
More than 50%

Author Topic: Do you consider yourself Mustachian?  (Read 6095 times)

Credaholic

  • Stubble
  • **
  • Posts: 223
  • Location: Seattle
    • Credaholic
Do you consider yourself Mustachian?
« on: July 28, 2015, 11:42:45 AM »
Do you consider yourself Mustachian if you save less than 40% of your after tax income? Why or why not?

Philociraptor

  • Pencil Stache
  • ****
  • Posts: 912
  • Age: 29
  • Location: DFW, TX
  • Eat. Sleep. Invest. Repeat.
Re: Do you consider yourself Mustachian?
« Reply #1 on: July 28, 2015, 12:00:26 PM »
I don't yet consider myself Mustachian because I know that we waste a lot of money and could be doing a lot better. We save around 45% of (net income + pretax investments), or around 40% of gross income. This doesn't include principal payments towards debt, we lump all principal + interest payments into spending.

ZiziPB

  • Magnum Stache
  • ******
  • Posts: 3267
  • Location: The Other Side
Re: Do you consider yourself Mustachian?
« Reply #2 on: July 28, 2015, 12:01:48 PM »
I do save over 50% of after tax income but my income is high so I still spend a lot in comparison with others here.  I would consider myself half-Mustachian :-)

boarder42

  • Walrus Stache
  • *******
  • Posts: 7849
Re: Do you consider yourself Mustachian?
« Reply #3 on: July 28, 2015, 12:09:45 PM »
i dont consider myself mustachian and i save approximately 60% annually without mortgage principal 70% with mortgage principal. 

I am FAR FAR from mustachian ... we plan to have a mortgage in retirement and that pushes our needs annually to 65-70.... from around 45-50k.  and at 45k i dont think you could call me mustachian.  though i will be retired at the lastest by 35.

AZDude

  • Handlebar Stache
  • *****
  • Posts: 1298
Re: Do you consider yourself Mustachian?
« Reply #4 on: July 28, 2015, 01:10:26 PM »
We are at about 40%, which is still fantastic. I would say we are borderline Mustachian, but our budget has gaping holes that make me cringe sometimes...

des999

  • Stubble
  • **
  • Posts: 180
Re: Do you consider yourself Mustachian?
« Reply #5 on: July 28, 2015, 01:16:50 PM »
most of my savings are pre-tax at this time.  I am maxing out my 401k, HSA, and then I max out my Roth.

I then plan to roll a portion of my 401k to my Roth during my part time working/pre retirement years.

I forgot to add, my total percent is about 30% savings into my retirement, so I am not very Mustachian I suppose :)
« Last Edit: July 28, 2015, 01:18:41 PM by des999 »

TravelJunkyQC

  • Bristles
  • ***
  • Posts: 467
  • Age: 32
  • Location: Québec City, Canada
Re: Do you consider yourself Mustachian?
« Reply #6 on: September 24, 2015, 11:02:06 AM »
I do consider myself a Mustachian even though I only save approximately 50% of my after-tax income, but I make 43,000$ a year and take home less than 31,000$.

Drifterrider

  • Handlebar Stache
  • *****
  • Posts: 1119
Re: Do you consider yourself Mustachian?
« Reply #7 on: September 24, 2015, 11:14:07 AM »
I am "kinda" Mustachian.  I don't ride a bike or buy organic food.

I max my 401K including the catch up.  This is about 22% of my income.  I take home about 47% of my income.  The missing 31% is taxes and other deductions (insurance, etc).

Of the 47% I take home, I save about 15% long term savings.  Some years more, some years less.  The only debt I have is the mortgage on my residence.  I own one rental house (free and clear) but this is the first year of ownership.

I usually go out for lunch, stay in for supper.  I buy quality food but on a price point.  I will pay X for chicken, Y for beef.  If it is more, I substitute.  I have cable TV (can't get over the air where I live) and internet.  No home phone but a tracfone (cost me about $100 per year).

I do as much of my automotive maintenance and repair as I can as well as things around the house. 

I usually take a very nice vacation each year.  I have enough ready cash to go without a paycheck for six months or maybe longer.  I'm very financially risk averse being so near retirement (I have a defined benefits plan and am eligible in three years so I'm not leaving without winning the lottery first).

So, maybe I am Mustachian.........

Healthandwealth

  • 5 O'Clock Shadow
  • *
  • Posts: 24
Re: Do you consider yourself Mustachian?
« Reply #8 on: September 24, 2015, 11:15:29 AM »
To me it's about choices you make. Spend/save your money in line with your goals, now and in the future. Money is important but not the only thing. What makes you and your famlily happy? How do you want to live your life? What is important and what not?

Could a person saving 20% be even more mustachian than a person saving 70%?? IMO yes !!!

TN_Steve

  • Bristles
  • ***
  • Posts: 257
  • Age: 59
  • Location: fly-over country
Re: Do you consider yourself Mustachian?
« Reply #9 on: September 24, 2015, 12:08:22 PM »
***

Could a person saving 20% be even more mustachian than a person saving 70%?? IMO yes !!!

Definitely.  We are in the middle of those numbers, but our kids are gone and we make a lot.  By the standards of this commenting group, we are flagrant spenders and are working unnecessarily long to be able to spend even more in retirement...  By normal standards, however, we don't spend much outside of wine and vacations--which are, of course, two huge spending holes.

zephyr911

  • Magnum Stache
  • ******
  • Posts: 3628
  • Age: 40
  • Location: Northern Alabama
  • I'm just happy to be here. \m/ ^_^ \m/
    • Pinhook Development LLC
Re: Do you consider yourself Mustachian?
« Reply #10 on: September 24, 2015, 12:24:43 PM »
I don't like labels in general, but I've been thinking of claiming "Must-ISH-ian". I downsized my house by 40%, cut cable, don't eat out much, eat $1 work lunches that I cook in bulk, spend very little on clothes, got Republic Wireless, and drive very conservatively... but I have a car loan and a CC balance (at 0%, but still, right?). I still eat out a couple of times a month, while that 2.25% APR on the car steals a dollar from me every day! Oh no! Facepunch!

I've picked up a lot of MMM habits but plenty of anti-Mustachianism remains, some of which I may not give up, but most of which is just a matter of time. It takes time and attention to methodically remove waste and unfulfilling habits, even if you know they're there. Maybe later when I've streamlined the majority of the known "exploding volcano" shit, I'll say I'm Mustachian. It's not about SR per se, I base it on having done what I can to optimize my pursuit of happiness as opposed to just living by habit and groupthink.
« Last Edit: September 24, 2015, 12:26:17 PM by zephyr911 »

Rosy

  • Handlebar Stache
  • *****
  • Posts: 1963
  • Location: Florida
Re: Do you consider yourself Mustachian?
« Reply #11 on: September 24, 2015, 01:00:13 PM »
Not really a true MMMr as in following in the footsteps of Mr. MMM himself. There is much I disagree with, mostly because it doesn't fit my values or our chosen lifestyle. Age, sex, economic circumstances and life experiences are way too different to ever mesh completely with his philosophy.

The beauty of this forum is that you see such a wide variety of lifestyles, which opens new doors in your mind and changes your perspective in unforeseen ways. I came here for information and stayed for the exploration:), support, participation and constant flow of ideas and discussions on reaching financial and lifestyle goals.

I save at least 50% of my total income after tax and health insurance. MMM is helping me optimize and I find the support here to help me stay on track. I am by no means a frugal person, saving does not come easy to me. However, I love it when a plan comes together and I can be laser focused.
It is a lifeline for those of us who are looking to fix and/or improve our financial lives and device a plan for a secure retirement. For me it is all still a work in progress and I am glad to be here.

honeybbq

  • Handlebar Stache
  • *****
  • Posts: 1136
  • Location: Seattle
Re: Do you consider yourself Mustachian?
« Reply #12 on: September 24, 2015, 01:04:57 PM »
Do you consider yourself Mustachian if you save less than 40% of your after tax income? Why or why not?

We save around 40-50% of our gross (including employer contributions).

But - NO,  I don't really consider myself Mustachian.

We spend a lot of money we don't need to. My balance point involves spending a lot more money than many people here. I also farm out work and pay other people to do things (such as cleaning house and yard work), which is generally not Mustachian.

I also have a much, much higher FU money point than most.

I don't want any side gigs in early retirement.

I have lots of dogs.

I have an expensive house.

I drive my car to work and I pay to park there.

Need I go on? :p

« Last Edit: September 24, 2015, 01:40:55 PM by honeybbq »

Kaikou

  • Pencil Stache
  • ****
  • Posts: 503
  • Location: United States
  • Kermit is like a box of chocolates
Re: Do you consider yourself Mustachian?
« Reply #13 on: September 24, 2015, 01:12:50 PM »
I have no idea.

But I am a mustachian

HappyHoya

  • Stubble
  • **
  • Posts: 134
Re: Do you consider yourself Mustachian?
« Reply #14 on: September 24, 2015, 01:15:27 PM »
Good question! I did not answer the poll because my situation has been changing a lot lately--for a long time my family was paying off student loans like crazy and not saving much beyond maxing out retirement accounts (due to match). I'm starting to save and invest more now that our debt is under control. I do consider us fairly mustachian though, since we consistently live off much less than half of our income. To me, being mustachian has just as much to do with the philosophy as it does behavior, although it would be crazy to believe in the philosophy and not change your actions. I feel like we've broken out of the consumerism trap and we realize that our lives are very rich and luxurious even if we forgo a lot of the stuff other people with our incomes spend money on.

ozbeach

  • Bristles
  • ***
  • Posts: 288
  • Location: Australia
Re: Do you consider yourself Mustachian?
« Reply #15 on: September 24, 2015, 01:22:06 PM »
I save 75% of take home (after maxing out pre-tax super contributions) so the OP question is not really aimed at me; but interestingly I don't consider myself terribly Mustachian. Maybe because, after all these years, it's more habit than conscious thought?

Easye418

  • Bristles
  • ***
  • Posts: 467
Re: Do you consider yourself Mustachian?
« Reply #16 on: September 24, 2015, 01:24:15 PM »
Mustachian                                                       Neutral                                                              Spender
<--------------------------------------------------|--------------------------------------------------->
                                                        ^

I save 18% income currently(If I am doing the math correctly, 25% after tax savings?), not maxing 401k yet, hopefully next year.

That being said, I think I will always find myself balancing between Neutral and Mustachian.

However, I would not consider myself Mustachian.  I do what I want, when I want, and live between the boundaries.
« Last Edit: September 24, 2015, 01:28:07 PM by Easye418 »

okits

  • Walrus Stache
  • *******
  • Posts: 8455
  • Location: Canada
Re: Do you consider yourself Mustachian?
« Reply #17 on: September 24, 2015, 02:17:16 PM »
By (admittedly ridiculous) local standards we are thrifty. Mustachians would consider us spendypants.

Our savings rate has plunged due to foregoing a lot of income to devote time and energy to health and family priorities.  I consider those the fruit of lifetime LBYM and am proud we can do it. 

I voted between 20-40%. 

drea

  • 5 O'Clock Shadow
  • *
  • Posts: 4
Re: Do you consider yourself Mustachian?
« Reply #18 on: September 24, 2015, 08:54:49 PM »
I've picked up a lot of MMM habits but plenty of anti-Mustachianism remains, some of which I may not give up, but most of which is just a matter of time. It takes time and attention to methodically remove waste and unfulfilling habits, even if you know they're there.

^So true for me.  This year is my first full year being debt free (car/student loans), and I thought I had became pretty frugal while paying off debt until I found MMM this summer.  I'm only an aspiring Mustachian because I still have plenty of optimizing to do.  OTOH, I actually do enjoy some activities that might be considered anti-Mustachian at my savings rate (e.g., I'm planning to go see 'The Martian' next week with my discounted Costco movie ticket... so maybe I'm a half-stachian?).  My savings rate is 34%.

stlbrah

  • Bristles
  • ***
  • Posts: 430
Re: Do you consider yourself Mustachian?
« Reply #19 on: September 24, 2015, 09:48:48 PM »
70% mustachian. I was so defensive about it when I joined the forums lol. I am pretty hardcore now.

I drive kind of a lot. 20 miles round trip to go to a specific gym, about 18 miles round trip to work twice per week, but bumping that to 4x/week. Working from home makes me kinda depressed.
« Last Edit: September 24, 2015, 09:52:29 PM by stlbrah »

Eric

  • Magnum Stache
  • ******
  • Posts: 4058
  • Location: On my bike
Re: Do you consider yourself Mustachian?
« Reply #20 on: September 25, 2015, 11:42:55 AM »
I'd say I'm about 95% Mustachian.  But I have no idea what my savings rate percentage is.  (nor do I care.  Net worth is the only important number)  But that booze though... it's what keeps me from 100%.  That sweet sweet nectar of the gods.

Valetta

  • 5 O'Clock Shadow
  • *
  • Posts: 72
Re: Do you consider yourself Mustachian?
« Reply #21 on: September 25, 2015, 12:21:14 PM »
Yes and no.

We save a pretty high percentage but our income is also high. I know our expenses are much higher than some around here. The real heart of being Mustachian to me is knowing exactly what you spend your money on and spending your money in a way that aligns with your goals and values. We track every penny of our spending/saving and make adjustments when we think we've gotten out of alignment. I think that's what it's really about.

Lady Fordragon

  • Stubble
  • **
  • Posts: 172
  • Location: Midwest
Re: Do you consider yourself Mustachian?
« Reply #22 on: September 25, 2015, 12:56:45 PM »
I would consider my husband and I to be about 90-5% Mustachian.

Mustachian ways:

We max out our 401ks, Roth IRAs, his HSA and ESPP.  After maxing out all of those accounts and considering our expenses for the month, we contribute all "left over" money to a Vanguard taxable account.

We've been a one car household for 3 years now.  My husband discovered MMM back in 2011/2012 and wanted to start biking to work so he sold his car as motivation.  Since I only discovered MMM earlier this year, I was late to the "biking to work" game and only started in May of this year.  Now my husband and I try to bike to work together at least 3 out of the 5 work days (we work in buildings about 1/4 of the mile away from each other).

For two summers in a row, we haven't turned on the A/C, unless we have guests over.  We have Ting for our cellphone service (~$43/month total).  We haven't had cable for 6 years, which is how long we've been living together (my husband built a TV antenna for our house that resides in the attic).  In the summer, we dry the majority of our clothes outside on a clothesline.  My husband does most of the house and car maintenance as well as the lawn upkeep (with a reel push mower although we just acquired an electric mower from his parents).

We have zero debt.

Un-Mustachian ways:

We each get $50/week (just recently decreased it to $30) deposited into our fun money accounts to spend on whatever we want.  I love to travel and therefore requested that we have a yearly travel fund ($5000) to pull from.  In order to get the most out of this fund, I try to find deals as much as possible. 
 
I'd say I'm about 95% Mustachian.  But I have no idea what my savings rate percentage is.  (nor do I care.  Net worth is the only important number)  But that booze though... it's what keeps me from 100%.  That sweet sweet nectar of the gods.

We, too, enjoy the awesomeness that is booze although we're currently taking part in an alcohol-free month.

Giro

  • Pencil Stache
  • ****
  • Posts: 601
Re: Do you consider yourself Mustachian?
« Reply #23 on: September 25, 2015, 01:03:10 PM »
Like several of the others, our income is very high so 50% is not very mustachian.  I'm not even close to mustachian and we save probably 70% .


2Birds1Stone

  • Walrus Stache
  • *******
  • Posts: 5307
  • Age: 32
  • Location: Earth
  • K Thnx Bye
Re: Do you consider yourself Mustachian?
« Reply #24 on: September 25, 2015, 01:08:38 PM »
I save 50-70% depending on commission and I do not consider myself "mustachian" because I do not believe the term has any real meaning.

AllieVaulter

  • Bristles
  • ***
  • Posts: 304
  • Age: 35
  • Location: Portland, OR
Re: Do you consider yourself Mustachian?
« Reply #25 on: September 25, 2015, 02:03:13 PM »
The real heart of being Mustachian to me is knowing exactly what you spend your money on and spending your money in a way that aligns with your goals and values.

+1

I think being Mustachian is not about reproducing MMM's exact life.  It's about deciding what you want in life and doing what it takes to get that.  I don't think there's a particular savings rate that you need to hit, or a yearly budget you must be below.  It's about realizing that your lifestyle has consequences and either accepting those consequences or changing your lifestyle. 

And with that definition, then yes, I'd say I'm Mustachian. 

Melody

  • Handlebar Stache
  • *****
  • Posts: 1089
  • Age: 30
  • Location: Australia
Re: Do you consider yourself Mustachian?
« Reply #26 on: September 26, 2015, 05:40:00 PM »
I save about 50% of my after tax and consider myself a Mustachian with a spending problem ;-) High income masks many spendypants behaviors. I'd like to do better - hence why I am here.
I have a friend who managed to buy a house on a low $40k income (this a HCOLA, with a $30k minimum wage) so even though her savings % is probably no more than 10 or 20% - all made as extra payments on her mortgage - I'd still consider her mustachian- it's not just about what you save.

Zikoris

  • Magnum Stache
  • ******
  • Posts: 3335
  • Age: 32
  • Location: Vancouver, BC
  • Vancouverstachian
Re: Do you consider yourself Mustachian?
« Reply #27 on: September 26, 2015, 05:59:18 PM »
I think most people can get their savings up about 50% if they really prioritize it and give themselves a kick in the ass or two. Given how high the average salaries around here seem to be, even saving 40% still means someone has a tremendous amount of consumer-sucker spending.

I don't actually consider myself Mustachian as much as ERE, because I'm more nuts than most of the people by a long shot. But as far as I'm concerned, if someone considers themselves a Mustachian then that's good enough for me.

happy

  • Magnum Stache
  • ******
  • Posts: 4772
  • Location: NSW Australia
Re: Do you consider yourself Mustachian?
« Reply #28 on: September 26, 2015, 06:28:39 PM »
Its taken me over 3 years to get my savings rate from 50% to 60%.  I'm not badass at all - I can't think of any aspect that I'm badass in.  However if one can be mustachian without being specifically badass, I do consider myself mustachian on the basis that I think I'm somewhere in the middle  for this forum - lots of folks here are more spendypants and plenty are more frugal than I. There's a few things I would still get a face punch for.

Grem

  • 5 O'Clock Shadow
  • *
  • Posts: 16
Re: Do you consider yourself Mustachian?
« Reply #29 on: September 27, 2015, 04:04:38 AM »
No

Right now I save £0 absolutely nothing, mainly because we are paying off debt.

In the UK, on our income it would be virtually impossible to save 40-50% of our income. Our rent is around 30%, plus essential bills and food takes us to about 80%. If we wanted to buy a home eventually then a mortgage would be slightly cheaper, but then you have to factor in repair costs etc.

Until I can start working full time again (maybe in about 10 years when the kids are old enough to be left on their own) then I think we could save 20% at the absolute maximum. After I start working more again we could save almost all of my income, upping the total savings to about 60%.

I'm unsure if my OH would ever be happy saving this much though. He's very anti-mustachian, and every time I suggest cutting something down I get shot down. He's of the attitude of he earns all the money so he should be able to spend it, and doesn't like the idea of 'going without'...Luckily I am in charge of our YNAB budget so can allocate funds to other places as much as possible, and nag him constantly about leaving lights on etc :)

So for now? No, I do not consider myself Mustachian. In the future? I hope to :)

Petuniajo

  • 5 O'Clock Shadow
  • *
  • Posts: 89
  • Location: Southeastern US
Re: Do you consider yourself Mustachian?
« Reply #30 on: September 27, 2015, 08:17:14 AM »
Not really. We are definitely more frugal than most other folks we know IRL, but deserve abundant facepunches as compared to mustachian's on the forum. We save (invest) between probably 20-25%, but are currently using extra funds to save for a new-to-us minivan. Mustachian to buy a $20k Odyssey or Sienna when we have only 2 kids? Maybe not... But we will pay cash. After that (about a year), we'll up our retirement savings more. We also don't ride bikes to work and have clown car commutes (~1 hour for DH to a neighborhing city, 20 minutes for me), but we're a dual academic couple (PhDs and work at universities), and feel lucky that we found jobs near enough to each other that we can live together (we have known several other academic couples who have commuter marriages).

But I'm ok with alll of that, and I know that we continue to make more positive changes and more progress over time.

libertarian4321

  • Handlebar Stache
  • *****
  • Posts: 1369
Re: Do you consider yourself Mustachian?
« Reply #31 on: September 27, 2015, 08:37:55 AM »
I honestly don't know my saving percentage anymore.  We stopped keeping track of every expense years ago.

But I would guess we save 75+% of our income.

So I guess so?

horsepoor

  • Magnum Stache
  • ******
  • Posts: 3067
  • Location: At the Barn
  • Horses: for sanity & poverty!
Re: Do you consider yourself Mustachian?
« Reply #32 on: September 27, 2015, 08:48:31 AM »
Nope.  I don't know my actual savings rate, but I'd guess it's around 25%?  I could easily hit 50% if it were't for the damn' horses.   

Bracken_Joy

  • Walrus Stache
  • *******
  • Posts: 8756
  • Location: Oregon
Re: Do you consider yourself Mustachian?
« Reply #33 on: September 27, 2015, 09:48:17 AM »
We often save less than 40% (although sometimes more), but I would overall consider us mustachian. (Ish, we own a truck and plan on multiple kids... and we have a dog). But we're young, new to our careers, and not making much. But there is a very clear path to our income increasing, and our expenses will not pace that. So to me, it is a question of time. Doing exactly what we are doing, we will save increasing %s of our income over the years. We may not be on the 9 year track, but that doesn't mean we aren't going to FIRE (or SWAMI) early on.

Physicsteacher

  • Pencil Stache
  • ****
  • Posts: 534
  • Age: 32
  • Location: Arkansas
Re: Do you consider yourself Mustachian?
« Reply #34 on: September 27, 2015, 11:16:35 AM »
We're saving over 20% and less than 40% of our take home pay, and we aren't Mustachian at all yet. However, I showed my husband "The Shockingly Simple Math Behind Early Retirement" and he seems to be on board with getting serious about budgeting, getting our savings rate up to 40%, and becoming free in our early fifties so I'm hoping that if someone asks this question again next year our answer will be different.

brooklynmoney

  • Bristles
  • ***
  • Posts: 489
  • Location: Crooklyn
Re: Do you consider yourself Mustachian?
« Reply #35 on: September 27, 2015, 11:50:23 AM »
I do save over 50% of after tax income but my income is high so I still spend a lot in comparison with others here.  I would consider myself half-Mustachian :-)

Same. I save close to 60%, but people here would stone me if they saw what i spent on booze and restaurant meals.

Lski'stash

  • Pencil Stache
  • ****
  • Posts: 520
  • Age: 32
  • Location: West Michigan
    • A Teacher's Journey to FI in the Mitten State
Re: Do you consider yourself Mustachian?
« Reply #36 on: September 27, 2015, 12:44:32 PM »
I would consider myself a 'transitioning mustachian.' I found this thread in April, and my savings rate has since gone up from 15% to 35%. Still working on upping that all the time, of course. My goal is to have it up to 50% by by next April.

surething22

  • 5 O'Clock Shadow
  • *
  • Posts: 34
  • Age: 29
  • Location: Orange County, CA
Re: Do you consider yourself Mustachian?
« Reply #37 on: September 27, 2015, 02:40:34 PM »
I currently save 30% of my gross income and am working toward 40% by Jan 2016. I have become much more aware of my spending and cut down on certain areas since reading MMM and the forums. Like others have said, I would only consider myself somewhat Mustachian because I'm fairly spendy-pants and continue to live in a very HCOL area.