Author Topic: Mustachian at 22  (Read 3500 times)

cody4k

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Mustachian at 22
« on: March 04, 2015, 11:37:34 PM »
I discovered Mr. Money Mustache at the beginning of November 2014 and I caught up to the current post after starting from the beginning in 3 months. It has taken a month for me to post because as a computer geek i'm a bit of an introvert. I am 22 years old and this was my situation at the time I came across MMM.

I had just quit my job out of high school as a computer tech for a small mom & pop shop due to them getting months behind on payroll. I was fortunate in that I had always been a bit frugal in life, so I had around $25,000 saved up, mostly in a brokerage account. I hadn't seriously done much college wise, so I had no student debt. I have never and plan to never pay a cent of credit card interest, but I had a auto loan for a mid-sized 2009 toyota that had $4000 remaining at 6%. That was my only debt. I live with my parents paying rent while I save up a down payment for a house.

I found MMM when I was researching on lending club. Being an engineer at heart, I have always been interested in making things more efficient and effective, and I was doing research into ways to stretch my dollars while unemployed. I had heard the MMM name mentioned on /r/personalfinance a few times before but never gave it much thought. I like his writing style and through him have been enlightened to the ways of Financial Independence.

This is where I stand 3 months after starting my mustachian adventure: Auto loan is dead, saving me $900 in interest over the 2 years it had left, and dropping my monthly expenses $200. I said fuck it to trying to find an employer and started my own IT consulting business, which is already on track already to make me double what I earned last year. I started keeping total track of all my finances and am slowly reducing my expenses wherever I can find an alternative. I am currently canceling my ATT phone plan that costs $40/month and replacing it with the freedompop $0/month plan. I expect the amount I save this year will exceed my total savings from when I started down the FI path.

The numbers may seem small to some of you, but as a 22 year old with dreams of FI in his 30's, I feel that I am fairly well positioned with $0 debt and a solid career ahead of myself. I expect my 'stache to be capable of covering my current fixed expenses by fall of 2015, and it's only onward and upward from there!
« Last Edit: March 04, 2015, 11:40:35 PM by cody4k »

southernhippie

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Re: Mustachian at 22
« Reply #1 on: March 05, 2015, 05:42:25 AM »
Holy shit.  I envy what you did at such a young age.  I am 26 and I wish I discovered this website years ago.  Good luck to you and keep doing what you are doing.

Retire-Canada

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Re: Mustachian at 22
« Reply #2 on: March 05, 2015, 05:53:38 AM »
The numbers may seem small to some of you, but as a 22 year old with dreams of FI in his 30's, I feel that I am fairly well positioned with $0 debt and a solid career ahead of myself. I expect my 'stache to be capable of covering my current fixed expenses by fall of 2015, and it's only onward and upward from there!

Congrats! Keep going and get 'er done! :)

When I was 22 I was just out of Uni and settling into the Army. I had no debt. If I had any savings it was minimal. All that owned of value was a used Jeep.

Your kicking my past self in the butt and when you get to my current age you'll kick my current self in the butt as well.

Your numbers and attitude are awesome!

-- Vik

willow

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Re: Mustachian at 22
« Reply #3 on: March 05, 2015, 06:11:36 AM »
Holy shit.  I envy what you did at such a young age.  I am 26 and I wish I discovered this website years ago.  Good luck to you and keep doing what you are doing.

+1

Guesl982374

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Re: Mustachian at 22
« Reply #4 on: March 05, 2015, 06:17:03 AM »
Just be sure to avoid lifestyle creep.

For someone in your position I highly recommend buying a moderate/older house and renting out rooms to friends. If done right, you can breakeven/cashflow slightly while having "free" housing without living with your parents.

Overall, outstanding job!

BBub

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Re: Mustachian at 22
« Reply #5 on: March 05, 2015, 07:14:53 AM »
Nice work! You are definitely on a good path...  A good base, a plan & vision, and the courage to strike out on your own.  I am excited for you. 

It has taken a month for me to post because as a computer geek i'm a bit of an introvert.

LOL.  I think you'll find yourself in good company around here ;-).  I lurked for over a year before becoming an active contributor.  Congrats on making the leap into forumland.


The numbers may seem small to some of you, but as a 22 year old with dreams of FI in his 30's, I feel that I am fairly well positioned with $0 debt and a solid career ahead of myself. I expect my 'stache to be capable of covering my current fixed expenses by fall of 2015, and it's only onward and upward from there!

Yeah dude, you are well positioned to kick some ass.

Holy shit.  I envy what you did at such a young age.  I am 26 and I wish I discovered this website years ago.  Good luck to you and keep doing what you are doing.

+1

Envy is the worst sin because it's no fun at all.  Don't be jealous.  Be inspired.

Cookie78

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Re: Mustachian at 22
« Reply #6 on: March 05, 2015, 08:16:01 AM »
Envy is the worst sin because it's no fun at all.  Don't be jealous.  Be inspired.

I often find envy inspiring! Maybe I'm using the wrong word. Is there a different word for 'wishing you had something that someone else has, but being inspired by it or happy for them at the same time"?

I envy the people who found MMM at a young age, but I think it's awesome for them!
I envy the people who are already FIREd, but I'm thrilled for them and love to hear their stories and be inspired.
I envy my friends who are traveling to places I'd love to go, but I'm excited for them and want to hear all about it when they get back.

To the OP,
Great work!