This website, and the accompanying blog, is of the greatest things I have ever stumbled upon, and I am quickly trying to be a convert to the mustache way. I wanted to introduce myself and give a back story for others to read as a cautionary tale.
I grew up in various states, coast to coast, with both separated parents living in varying degrees of financial stability. It ranged from living with my wealthy grandparents who spoiled me as a little kid, to graduating high school while living with a minimum wage earning mother and having to work myself to help out the finances. My wife was even "worse" off, living basically poor in rural PA.
I joined the military out of high school and spent every penny (all $390 every two weeks) before the next check. I never really learned to budget and constantly obsessed over the luxuries of life: fast cars, parties, etc. When I left the military and stated making better money, I increased my lifestyle accordingly. Saving money was never a priority or even a consideration really.
Fast forward to 2010. My wife and I are 29 years old, have earned college degrees, I have a great job making $75,000/year, have been married for 8 years, and just celebrated the birth of our first child. We "owned" a house, had 2 nice new vehicles, and lots of nice things, but were still deficit spending and about $60,000 in debt with student loans and credit cards. At 2 months, old my daughter was diagnosed with a hole in her heart. Over the next few months her health declined and we were told that she would need a very expensive open heart surgery before she turned 2. Being in my career field, I had the opportunity to deploy as a contractor to Afghanistan and make over $250,000/yr (before taxes) and I decided that it would be best for the finances. From the birth of my daughter until she had the surgery at 10 months old, we spent over $20,000 out of pocket in medical expenses. She is doing great now, and I would sacrifice again without question to make her healthy, but that decision was also the start of some unhealthy lifestyle changes.
We quickly became accustomed to the large lifestyle that my income afforded. We got nicer cars (even though I was only home 2 months a year and we only needed 1 car), motorcycles, took trips, got new wardrobes, upgraded the already nice house, and spent money like it was growing on a tree in our backyard. The "stuff" piled up to the point where we had a house full of newness and a large storage unit almost overflowing with excess. We did not meet our financial goals of being debt free after the first year, and instead continued to "upgrade" our lifestyle causing me to stay in Afghanistan another year to continue "living". After year 2, and a marriage on the rocks, I had to stay a 3rd year to be able to live a normal life back in the states.
Due to other circumstances (and a long story), my wife and I are divorcing. After 3 years away I have little to show for the time sacrificed away from my child, and have lots of financial (and personal) regrets. I still dream about the expensive things in life, but in the past 6 months have taken a real hard look at one principle for my discretionary spending: the return of happiness divided by the cost. Basically, "does this purchase bring enough happiness to justify the cost"? I am starting to embrace the mustachian ethos. Seeing the financial results, or lack thereof, from the years away has made me sick to my stomach. I know that there is nobody to blame but myself, and that all I can do in the future is focus on what matters.
After my return from Afghanistan, and soon thereafter the divorce, I will have child support, a car payment, and a motorcycle payment, but otherwise should have no debt and enough "things" to last quite a long time. I plan to use the "true cost of commuting" to calculate the ideal place to live in the DC area (where I will be working due to my career field). I cannot fully commit to a 100% mustachian lifestyle since I need a car to get my daughter who will be 2 hours way and will keep the motorcycle since it is the greatest feeling of freedom to be on a bike. I do plan to live close enough to commute on a bicycle as often as possible. Other than those admittedly VERY big anti-mustachian expenses, I will commit to the lifestyle with as few excuses possible.
Thank you very much for creating this blog and being an inspiration for those who seek to be financially intelligent. I look forward to starting a new life and the continued path toward financial freedom.
- Jason
