Hi, I am new here, and would be grateful for any thoughts and tips to become more Mustachian. I’ve read nearly all the blog posts, and I’m getting to grips with the forum; this has brought me much inspiration and I am making major changes to my lifestyle, so thank you!
About me:
Live in SoCal, age 40, no kids, but lucky to have a sweet, beautiful, younger girlfriend, who is patiently waiting for an upgrade in status and to start a family ☺
70K a year gross pay (research scientist, and looking for a better job/increased pay)
3-4K a year side job of technical writing
72K in retirement savings.
7.5K credit card debt, 0% interest until June ’14, still excellent credit rating
10.5K, 5 year loan, with 4% interest rate (money was used for self-petitioned green card)
Monthly Expenses:
$925 Rent
$15 renters insurance
Live with girlfriend who also pays $900, and use a home office that effectively reduces my salary by 3300K for taxes.
$80 Car insurance
‘04 Audi A4, not Mustachian but at least 6speed MT, no loan, I know a good mechanic, and live 10 miles from work.
$25 Cell, virgin mobile
$80 credit card payment
$220 loan payment
$150 Gas (now dropping, from biking)
$300 food
$120 Music lessons
$30 to house cleaning, making girlfriend very happy
~$300 left.
+ $267 to 401K every 2 weeks by work (10% of salary, but is not a match, just added)
Big changes since recently reading MMM:
$1000 403b self-contribution every 2 weeks.
Now I will hit $17500 total at end of year in 403/401, making 25% of salary saved for year.
However, keeping at this new savings level is 50% of salary saved! (up from 10-15%)
Gym cancelled (+$30). Now surfing more, as close to beach, and weights at home.
Bought a bike, bike 2-3 weeks to work and love it, why didn’t I do this earlier?
Drink tea, but it is now bought from supermarket
Eating out much less
No new clothes needed or bought for a while
Eating oatmeal!
Where can I improve? Also, are my priorities right in first maxing out 403b contributions and then paying the loan? Keep these same priorities in 2014? (Any 2013 Tax back will go to 10.5K loan first, also I like the lower taxes and increase in stash). I am hoping to fix my emergencies, and then hopefully my future discussions will be on family income/MMM levels.