3 ms·

... how? Either your mortgage is very small, or you have somehow managed to save an incredible amount of money. It's really the latter that I'd like to know

... how? Either your mortgage is very small, or you have somehow managed to save an incredible amount of money. It's really the latter that I'd like to know more about.

daxfohl 10y ago
> It's really the latter that I'd like to know more about. Whatever nfriedly's situation may be ... you won't get to the latter until you understand the former. In other words: You can't "save an incredible amount of money", without first "saving some money".
nfriedly 10y ago
It's a relatively small mortgage, I bought it for $138k. (This was near the bottom of the mortgage crisis, but also the house is ~50 years old and outside of a small town in Ohio). As I mentioned in the other comment, my savings rate has been trending upward for a while, and I now save about ~40-45% of my take-home pay. But, even when I lived in the bay area, earned less money, and paid twice my current mortgage in rent, I was still saving ~15% of my income. I don't consider myself deprived: we eat out, buy fancy phones, etc. We have a separate bank account just for giving that gets some money automatically transferred in each month. Our car is a 15-year-old civic that looks terible, but we don't drive that much and it still runs great. We'll probably replace it soon, but I kind of want to see how long it will go at this point ;) Like I mentioned in my other comment, http://www.mrmoneymustache.com/ http://www.mrmoneymustache.com/ has a lot of great advice. There's a few sites like that one, but MMM is my favorite.
- rubicon33 10y ago
  Thanks for the response. What you're doing sounds like what I want to shoot for. I'm almost 30 now, and for the last 2 years I've REALLY ramped up my savings. My goal, is to retire sometime in my mid 40s, so that I can work full time on my own projects. Lofty goal to say the least. I also realize that to do that, I'll need to find a cheap home. Been reading up on mrmoneymustache, some great tips there. Thanks for the link!

... how? Either your mortgage is very small, or you have somehow managed to save an incredible amount of money. It's really the latter that I'd like to know more about.

daxfohl 10y ago

> It's really the latter that I'd like to know more about. Whatever nfriedly's situation may be ... you won't get to the latter until you understand the former. In other words: You can't "save an incredible amount of money", without first "saving some money".

nfriedly 10y ago

It's a relatively small mortgage, I bought it for $138k. (This was near the bottom of the mortgage crisis, but also the house is ~50 years old and outside of a small town in Ohio). As I mentioned in the other comment, my savings rate has been trending upward for a while, and I now save about ~40-45% of my take-home pay. But, even when I lived in the bay area, earned less money, and paid twice my current mortgage in rent, I was still saving ~15% of my income. I don't consider myself deprived: we eat out, buy fancy phones, etc. We have a separate bank account just for giving that gets some money automatically transferred in each month. Our car is a 15-year-old civic that looks terible, but we don't drive that much and it still runs great. We'll probably replace it soon, but I kind of want to see how long it will go at this point ;) Like I mentioned in my other comment, http://www.mrmoneymustache.com/ http://www.mrmoneymustache.com/ has a lot of great advice. There's a few sites like that one, but MMM is my favorite.

rubicon33 10y ago
Thanks for the response. What you're doing sounds like what I want to shoot for. I'm almost 30 now, and for the last 2 years I've REALLY ramped up my savings. My goal, is to retire sometime in my mid 40s, so that I can work full time on my own projects. Lofty goal to say the least. I also realize that to do that, I'll need to find a cheap home. Been reading up on mrmoneymustache, some great tips there. Thanks for the link!