Yo Mustachians,
Thank you for the book, podcast etc recommendations. I read about 2/3's of The Millionaire Next door and then, unfortunately, I left it on a plane (I think), or maybe in a rental car? Not sure. It disappeared somewhere in Alabama. A collateral consequence of mustachianism is paying for lost library books. That cost me $27. It was devastating. BUT, I learned quite a bit and was very pleased to discover that it's a sociology book about people who have been successful accumulating money. The three things I found especially useful were: the risk of the luxury item/luxury purchase setting a bar for an upward drift toward unnecessary fanciness and consumption (this was the story about the businessman whose friends almost got him a Rolls Royce but he put a stop to it because he likes his old pick up truck and wants to be able to throw fish in the car); the percent savings that a person should have by whatever age (salary x 10% age. I am behind!) and finally, that people who have amassed wealth have come up with a way to reduce their tax burden. So since I lost that book I have moved my pretax savings at work to the amount that would have me at $18k annually and I already do the pretax healthcare savings. The equation is handy because it gives me a goal and the thing about fanciness explains why when my friend gave my fancy earrings a long time ago, it started me wanting other jewelry that, although very plain, costs a bunch. It happened! So no more of that fancy brand for me!
I also have borrowed and renewed a pile of times, Your Money or Your Life. I got the updated version. I think the steps she recommends are very smart but I have a really hard time actually reading the book. I read it about ten years ago and didn't have such a hard time with the language, but I hardly did any of what they suggested. Now, I have written down every single penny in or out since April 6 and at the end of the first month I made categories and a chart and at the end of the second month I did same. My categories need to be more detailed and I haven't been itemizing my groceries in the little money notebook I carry, but I am paying way way more attention in the store to cost and cost/unit of measurement and sales and BOGO (buy one get one free). For this month I think itemizing would make sense to give me more awareness. Also, I need to do that thing of tallying up how much I really make. Though, my situation is different than some because I'm already well past mustachian retirement age (42) and I have a job that is my dream job. It's high stress, but I freaking love it and it's the job that I would want to want to do if I had infinite wealth and time. But, I do need to work. I don't have debt of any kind, but there's insufficient savings. But that's building up.
I got the Financial xyz for Dummies and skimmed some of that but it had too many details and I wanted to get started on the Your Money or Life Activities and get my three-six months of savings in order and then learn some more. It was easy to understand though and I would definitely borrow it again once I'm trying to figure out what to do next.
Today the library notified me that Millionaire Teacher was ready so I picked that up. I'll be starting that this evening. I'm riding my bike a lot, though Florida summer includes lots of thunder and lightning. That i'm not into. Rain is fine by me, but lightning is another matter. This morning I rode my bike to buy some groceries, then home to collect foods and etc, then rode to work. I need to look nice for work so that is a challenge. I quit the close-by gym because it's 60 fucking dollars a month and that's crazy so what I do is shower, put on clean exercise clothes (not the sweaty ones from morning exercise), try to ride as slow as possible, and then change into my responsible lady clothes after I stop sweating. It means packing a fair amount and my office is starting to look like a thrift store, but it's not terrible. When I have work commitments that require true togetherness, I drive the three or so miles. I really do sweat so much and it's fucking humid here (96% humidity today and no rain of any kind).
Thank you for the help, all of you, and I have more things on hold at the library!!
