Author Topic: This week has been great for us! A new start!  (Read 1899 times)

vietnamtash

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This week has been great for us! A new start!
« on: April 08, 2015, 08:04:06 PM »
Wife and I are 32 and 34 with 2 young kids. We moved to Vietnam 4 years ago to work and to travel around SE Asia and explore some new cultures. A few months ago i seriously thought about savings/retirement as we do not have much (Net worth: $30k) even though we have earnt well the last few years and then I found MMM.

This week we moved to a cheaper house - we used to pay $2000 a month for a villa and pool and have moved to a house that is nicer but a little further to work and now pay $1000. Which means an extra $1000 a month towards FI.

I used to get lunch everyday in a nice restaurant so did my wife, now making our own and saving $400 a month on lunches.

We usually stay at a 5* resort at the beach for $250 a night, not any more -just booked our vacation at a smaller family resort 2 doors down for $70 a night.

We usually have dinner out 4 times a week, have cut this down to 2 times a week:)

Sat down and did our finances for the first time in years - we have a combined net income of $8500. I just sent $4000 of this months salary to buy some index funds and setup a direct debit for $4000 each month.

This has been a great week, lots of savings and a clear plan to save $50k a year.

Cococola

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Re: This week has been great for us! A new start!
« Reply #1 on: April 08, 2015, 08:35:47 PM »
Great story!!!

Thanks for sharing!

Quinny

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Re: This week has been great for us! A new start!
« Reply #2 on: April 09, 2015, 09:58:45 PM »
Wow! That's got to feel great!

Cougar

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Re: This week has been great for us! A new start!
« Reply #3 on: April 10, 2015, 12:19:07 PM »

thats great !

when we sell the second car, we got a shot at saving 50k a year too !

JetsettingWelfareMom

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Re: This week has been great for us! A new start!
« Reply #4 on: April 10, 2015, 01:49:36 PM »
That's awesome! We lived in Thailand for 4 years came back to the USA for family obligations...but we shall return.
Are you by any chance a US citizen? I hate to mention FATCA, the new tax regulations for expats. The #@$#@ regulation does not affect your income as long as you earn less than 97K per year, but it heavily punishes savers, starting on overseas accounts of 40K or more. Proceed carefully if you find yourself in such a situation...and make sure you get advice beforehand....