How A Couple Of ‘Frugal Weirdos’ Are Saving 71% Of Their Income So They Can Retire At Age 33

“The only way to figure out what was really necessary for us to be happy and what’s superfluous was to cut things out then reassess,” says Mr. Frugalwoods. The Frugalwoods did not start in negative territory or even from scratch. They’ve never had any student loan, car loan or credit card debt. They’re healthy and have frugalwoods been healthy enough so far to avoid any major medical expenses. They’re also well-educated (both have bachelor’s degrees and Mrs. Frugalwoods has a Master’s), pull in dual incomes and intentionally put off starting a family right away. It only took one conversation for the couple to decide they wanted something different for their lives — and soon.

A Beach Vacation And Other September 2022 Expenses

This is when they realized they’d achieved exactly what they’d set out to. They had made it, in other words, but weren’t fulfilled. They were stressed out and slaving away for salaries they https://forexarena.net/ spent very little of.

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Upon graduation, they climbed the ranks in their respective careers and started making good money. They settled in beautiful Cambridge, MA and bought a four-bedroom home that was walking distance to Harvard and MIT. Mr. FW and I love using AirBnB when we travel–in particular when we’re visiting more off-the-beaten path locales, such as those found in rural Vermont. We enjoy getting to know our hosts and learning about a local area through their experiences and suggestions. You’ll receive $40 in credit towards a stay if you use our referral link.

Our Finances

Since we have to touch, view, and otherwise eat off them on a daily basis, I desired certain aesthetic features as well. Plus, these babies don’t stain, chip, crack, or show any wear. By taking control of our money, my husband and I were able to pursue our dream of moving to a homestead in rural Vermont.

Since the Roku was obtained for a one-time expense of $50,  this is a pretty good deal. Anytime we can prevent a recurring expense (which is what cable is for many folks), we’re quite delighted. In service of our coffee and oatmeal addictions, our electric kettle supplies us with perfectly heated water at the touch of a button. I know it sounds bizarre to be so attached to one’s kettle, but I really do love this thing. It supplants the need for a coffee maker, a stove top kettle, and a microwave. And, it looks snazzy being all stainless steel with its bad self.

Check to see if there’s one in your area, and if not, consider starting your own. I absolutely adore the ethos and practice of Buy Nothing and am deeply grateful for the things we’ve received and given away through this group. A fantastic guide for single mommas (and all parents!) on how to manage the often financially precarious position of single parenthood (and parenthood writ large!). Her upbeat writing style is as hilarious and delightful as it is informative and thorough. Our Roku supersedes our need for cable, Netflix, HBO GO, and whatever else people pay for to watch TV these days.

We originally bought these for hiking but quickly outfitted our entire underwear drawer with them when we realized how comfortable, breathable, and durable they are. For instance, Mr. Frugalwoods plans to continue consulting a bit for his current company and imagines he can turn his love for welding into a side gig. Mrs. Frugalwoods is passionate about writing and might try to do some freelance writing and editing from the comfort of the homestead. Right now, she crams in blog posts at 6 am before rushing to work. In previous years, they’ve saved upwards of 60% of their income without breaking a sweat. Last year, though, they buckled down with an early retirement goal in sight and started cutting out even more costs.

I’ll be there for you every step of the way, creating a customized financial plan that fits your unique goals. We’ll stay in touch regularly, making sure you not only understand what you need to do next, but also have a clear picture of your lifelong financial path. You can’t avoid your finances forever – we’ll create a personalized, easy-to-follow financial roadmap to ensure a robust financial future. “Most things people would pay someone else to do, we do ourselves,” says Mrs. Frugalwoods.

Following the 2008 recession, a new kind of self-help guru — the Millennial frugality expert — emerged from the rubble. (She now imparts these lessons to her followers.) Another expert was the Millennial Money Man, a guy who dishes out “anti-entitlement advice” about growing your wealth. Not one for false modesty, he also keeps a live personal income report on the header of his blog. You might have read their story in The Guardian, but in any event, here’s the spiel.

1. I believe that managing your money opens up a world of options for how to live your life.
2. This makes it easier to put a down payment on a house, build a portfolio, and — if you’re lucky — retire early, Frugalwoods-style.
3. According to the Federal Reserve, Millennials in their twenties carried an average debt of $22,135 last summer.
4. They also learned real estate lingo and what they were looking for in a home, which was helpful when they were ready to buy.

He retired early, and I left my unfulfilling job to focus on helping people like you. Let me show you how to make your money create the life you want. Millennials have been caricatured as affluent liberal-arts majors with no career plans, but the reality is most Millennials don’t even have a college degree. All in all, with the rental properties and potentially a little income on the side, plus the generally low cost of living on the homestead, they expect to essentially break even for the foreseeable future.