Sunday, November 11, 2012

Progress feels great!

I don't claim to be very financially savvy, but I know that in order to raise your chin above the filth you have to live on less money than you make, and that when you owe people money they own a part of you.

A couple of months ago my good Mr. Dub said to me, "I'll never be able to retire, will I?" and that hit me like a ton of bricks. I think I do pretty well managing our budget and I feel like I'm learning more all the time, but time passes like a speeding train and with our kids currently in the "high rent districts" of teenager-hood and young-adult-dom and not a lot of decades left until retirement age there is clearly a lot of improvement that is needed. One of the blogs I read talks a lot about living on what has seemed to me a drastically low percentage of your income in order to retire early and enjoy what he terms "financial independence" but is actually a way of life in which you can do whatever you want including quit your 9-5 job so long as you keep a tight grip on your spending. So I have thought a lot about how low I can go in regards to spending Mr. Dub's hard-earned salary so that he does not have to work at his job one more day than he absolutely wants to.

This week we paid off one of our three loans (which include our mortgage, a car loan, and a home equity loan). The home equity loan is paid off three years early, and it looks like, barring an unseen and very costly emergency, we are set to pay off the car in a couple of months which will be nearly four years early. That will leave us starting the new year 2013 owing money only on our mortgage and freeing up a lot of my good Mr. Dub's salary to put toward our own financial independence.

I think with our new president elected to another term it is even more important to have your financial house in order and plenty of food and money safely tucked away for that proverbial rainy day.


  1. Increase his retirement savings at work to the maximum (probably 25% or 15%) and set your checking account to automatically transfer a few (we do $200) dollars per week to your savings account. You'll be surprised how quickly you can get out from under and RETIRE!!! Yes you can!! Keep saying it, "I think I can; I think I can..."

    1. His retirement savings is already set at the max, and I transfer money every payday to a savings account. We are saving lots of money for his retirement, but I worry that it won't be enough. I think it's not saving money that is my problem, it's spending money. I need to get a grip but I am actively trying to figure it out. Money/possesions and emotions and consumerism are a tangled ball of greed and escapism that is somehow tied to my emotional well-being and self-worth. It's messy and ridiculous.