The reason i chose this blog post is because i plan to become a teacher, knowing that i am not going to be bring home $100,000 a year, instead more like $40,000 i figured i might as well find out how I should be handling my expenses in the future and live a little more kick-ass-ish.
Essentially Mr. Money Mustache Man encourages those living in the ritzy middle-class fashion to take it down a notch. Although many of us want to live like celebrities, it is not logical. M.M.M.M included expenses that the average middle-class household (2 working adults & 2 school-age kids) spent within a month. he compared and contrasted expenses
-Middle Class will spend $80 on hair, nails, and waxing
"Kick Ass" will spend $5 (Cut at home, paint at home etc.)
-Middle Class will spend $25 on a landline phone
"Kick Ass" will get rid of it. (After all its not 1989, use your cell phone, and free Google chat)
-Middle Class will spend $500 on vacations
"Kick Ass" will spend $200 by avoiding tourist traps
-Middle Class will spend $100 on a gym membership
"Kick Ass" will spend $0 and work out in their home gym
These are just a few examples of expense changes the average middle class person could make to save some money, and Mr. Money Mustache found that monthly a middle class person will spend close to $10,000 on these expenses plus more, however the kick ass person will spend a little over $3,000. Spending less on unnecessary items will save a family nearly $82,000 A YEAR! The kick ass lifestyle still allows the family it live in a $300,000 house, own a car and bikes, eat right, stay in shape, read books, and watch movies.
*Another bonus to this whole scenario... you can retire in 8 years rather than working until you are 60 and waiting 45 years!
http://www.mrmoneymustache.com/2012/10/08/how-to-go-from-middle-class-to-kickass/
Another website I found with similar money saving tips to an early retirement was titles "How to Plan for Your Future When You're Already Behind" This website helps you save your money if you are within 10-20 years of retirement.
Step 1. Save Like Mad
-Invest $1000 a month and you can end up with $460,000 in 20 years.
Step 2. Spend Smart
-Get basic cable, cancel your gym membership, pack your lunch, eat out once a week every other week, borrow videos from the library etc.
Step 3. Choose how you want to live
-Is there a job you've always wanted to try? Want to go back to school? Plan for that when you retire!
It also include links to chat with a financial advisor, and more in depth tips to save money fast.
https://www.usaa.com/inet/pages/advice-retirement-latestarter?akredirect=true
I really enjoyed both the blog, and the tips on the USAA website. I think they will come in handy in the future, and hopefully, someone in the class benefits from the tips as well.
These are good points. I like how you put thought into your reading since you are planning in advance not to make a killing. I agree with him on the facts that there are so many pointless expenditures that can easily be weeded out.
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