Comments on: The Freedom Of Frugality http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/ Simple, applicable personal finance advice for the modern world Fri, 10 Feb 2012 03:55:09 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: typome http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/comment-page-1/#comment-188014 typome Wed, 20 Feb 2008 17:58:21 +0000 http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/#comment-188014 I think it was in the Random Walk to Investing where I read that every dollar not spent is a dollar I won't ever have to earn again. I really like that quote. The more we buy stuff, the more dollars we have to earn, and the more tied we are to work. Whereas every dollar we save is yet another dollar (plus more with interest!) that we don't ever have to earn again. I think it was in the Random Walk to Investing where I read that every dollar not spent is a dollar I won’t ever have to earn again. I really like that quote. The more we buy stuff, the more dollars we have to earn, and the more tied we are to work. Whereas every dollar we save is yet another dollar (plus more with interest!) that we don’t ever have to earn again.

]]> By: Regina http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/comment-page-1/#comment-7176 Regina Wed, 21 Feb 2007 17:49:42 +0000 http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/#comment-7176 We've taken to a year of no new stuff here - amazing how quickly you realize how much you spend on nothing but things you don't need! We've taken it a step further too - that each time we don't buy new stuff, that money goes directly to the student loan or a credit card at the end of the month - in addition to what we send normally. We also started to pay ourselves each month FIRST, before any bills are paid - 20% of the take-home goes into savings/investment and we have to live on the remaining 80%...and are intent on paying off the student loan this year (six years early), and all the credit cards so next year that extra money we'll have each month can then pay off the second mortgage. A two-year plan on that and then we're debt free with the exception of our first mortgage....which we'll then start to pay down to pay off ahead of time too! We’ve taken to a year of no new stuff here – amazing how quickly you realize how much you spend on nothing but things you don’t need! We’ve taken it a step further too – that each time we don’t buy new stuff, that money goes directly to the student loan or a credit card at the end of the month – in addition to what we send normally.

We also started to pay ourselves each month FIRST, before any bills are paid – 20% of the take-home goes into savings/investment and we have to live on the remaining 80%…and are intent on paying off the student loan this year (six years early), and all the credit cards so next year that extra money we’ll have each month can then pay off the second mortgage. A two-year plan on that and then we’re debt free with the exception of our first mortgage….which we’ll then start to pay down to pay off ahead of time too!

]]> By: Chris http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/comment-page-1/#comment-7151 Chris Wed, 21 Feb 2007 14:48:35 +0000 http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/#comment-7151 Clever Dude, I feel the same way about my financial situation right now. I'm on the right track, and in only a few months, I'll be debt free, but the scary thing is that in the mean time, I have little in the way of fallback. I have a few hundred in an emergency account, but if anything larger happens, I'm hosed. It'll be a wonderful feeling to pay off my debts and start putting money into a savings account. Nothing says financial security like 10 grand in a liquid account. Clever Dude, I feel the same way about my financial situation right now. I’m on the right track, and in only a few months, I’ll be debt free, but the scary thing is that in the mean time, I have little in the way of fallback. I have a few hundred in an emergency account, but if anything larger happens, I’m hosed.

It’ll be a wonderful feeling to pay off my debts and start putting money into a savings account. Nothing says financial security like 10 grand in a liquid account.

]]> By: Susan Sabo http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/comment-page-1/#comment-7141 Susan Sabo Wed, 21 Feb 2007 12:03:29 +0000 http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/#comment-7141 Trent ~ Not only have you broken down the "prison wall" but you have begun to pave the path to financial independence with the bricks from the prision wall! Kudos! That will mean, in time, that you are also not required to work for someone or a company if you don't want to. You will be able to be more selective about who you work for when. You might even take a hunk of time off while you're young (I spent 2 1/2 years traveling across the USA & around the world "mid-career". Unforgettable!) Fortunately I'm hanging out at the end of that path to financial freedom and let me repeat what you've heard before ~ the view is pretty good from this place! [your passion keeps me coming here tho' I am where I am... I want to learn your speed-reading skills next!] Trent ~
Not only have you broken down the “prison wall” but you have begun to pave the path to financial independence with the bricks from the prision wall! Kudos! That will mean, in time, that you are also not required to work for someone or a company if you don’t want to. You will be able to be more selective about who you work for when. You might even take a hunk of time off while you’re young (I spent 2 1/2 years traveling across the USA & around the world “mid-career”. Unforgettable!)

Fortunately I’m hanging out at the end of that path to financial freedom and let me repeat what you’ve heard before ~ the view is pretty good from this place! [your passion keeps me coming here tho' I am where I am... I want to learn your speed-reading skills next!]

]]> By: Clever Dude http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/comment-page-1/#comment-6984 Clever Dude Tue, 20 Feb 2007 23:37:56 +0000 http://www.thesimpledollar.com/2007/02/20/the-freedom-of-frugality/#comment-6984 I can't wait until we're out of debt. The weight of it is almost unbearable. I've never worried about having money from paycheck to paycheck, but I do worry about the future. I don't want to be caught with my financial pants down. That means I want to have disposable income that's not already spent on repaying debt. It also means my wife can go part-time if she wants or needs to. It means we can sell our house and move to a much cheaper area, closer to our families. It means alot to not have debt. I can't wait. I can’t wait until we’re out of debt. The weight of it is almost unbearable.

I’ve never worried about having money from paycheck to paycheck, but I do worry about the future. I don’t want to be caught with my financial pants down. That means I want to have disposable income that’s not already spent on repaying debt. It also means my wife can go part-time if she wants or needs to. It means we can sell our house and move to a much cheaper area, closer to our families.

It means alot to not have debt. I can’t wait.

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