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Moving from conspicuous to conscious consumption and doing reviews along the way.  Find plenty of unsponsored reviews of Quince, Everlane, Grana, and Cuyana on the site!  I'm working towards a minimal waste lifestyle, and oh yea I love bags >.<

This girl is on firrreee: six months on FIRE

I had originally written this post over a month ago (before we purchased a home). So even though we’re not quite on the FIRE track, we’re still working on it. Anyway here is the original post:

(Lol, you know I’ve been just itching to make those FIRE puns). Anyway for those who aren’t familiar with FIRE (Financial Independence, Retire Early), it’s a movement to save money, put it towards investments, so that you have the financial freedom to do what you like (more about it here). You basically want to get to the point where your expenses are covered your passive income earned through interest of stock or rent collected on properties. I’m super grateful to have the privilege to work on my FIRE path. And a reader has asked what that looks like for me. Since I’ve only started 6 months ago (and this is a years-long or even decades-long plan) I’m very much still a newbie. There are many other experts out there who have achieved their FIRE number and right blogs about what it’s like for them.

The first step of our FIRE plan was to start tracking our expenses. We combined all our bank accounts and credit card statements under Mint so we could see where our money was going. My husband is the one organizing (ie categorizing expenses) and then he tells me how we’re doing. This is also the first time I’ve shared my accounts with him so now I’m much more careful what I spend my money on, knowing there’s going to be a second pair of eyes judging me (which is a good thing).

Also starting in December/January, we started to limit our expenses. The first thing we cut out was eating out. We used to eat out at least twice a week (and while we were running the Airstream business we would eat out twice a day about 6 times a week—crazy I know but we were busy running a business and we weren’t on FIRE). So February (before the baby came), was probably our lowest spend month ever in the history of us. Of course now with baby, we never eat out anymore. Though the temptation to get food delivery or takeout is high we resist, and we keep it to maybe one takeout a week if that (it has become a treat when we do). My husband brings lunch from home to work, even if that means a $3-4 burrito from Trader Joes (but it beats his at minimum $11 lunches he gets in downtown SF). I’ve also started clipping coupons for places we like to eat (like a BOGO for bagel sandwiches at Noah’s Bagels—such a good deal!), and that would be our treat meal out sometimes.

As for my blog expenses, I’m no longer just purchasing things willy nilly (though it may look like I still am acquiring a lot—but really this is me trying to be better). I’ve been buying a lot of things off of the RealReal when I want to try stuff (like the Martiniano shoes, kowtow romper, Chanel ballet flats, etc.). I sold off a bunch of things one month and instead of collecting a check, I decided to go with credit so I have revolving RealReal credit to try things. Also I’ve been selling things on eBay and have made my Paypal account a revolving credit account to try things for the blog. This also makes tracking expenses easier for my husband since he doesn’t constantly see an outgoing and incoming amount that’s not related to our daily life. I’m also tracking my blog expenses separately to make sure I’m not spending more than I’m earning.

And then we started investing our money into Vanguard Index funds. I’m no expert so I’m trying out several different index and mutual funds after reading up on them. So far they’re doing well but the market is currently down right now and we aren’t doing as well as they were. But of course that’s just how it goes with the stock market. If anything, now is the time to buy more (it’s on sale! lol).

It may sound like we’re only being frugal with the small stuff but that’s because we’ve gotten the big stuff luckily out of the way. No car payments with one really old car and one newer but used car. We’re both suuuuuper duper duper lucky not to have any college loans. We got really lucky also by being able to buy a house when we were young and then selling it when it was at a market high. Currently we’re living in an apartment but are looking to move back into a house. We’ll end up taking on some debt then but currently we are debt free. So yep, we’re focusing on the smaller savings now. But seriously all the small things add up. {Update: We purchased a house and are now in debt. We’re going to have to work extra hard in budgeting and keeping all other expenses low.}

Anyway if you’re new to the concept and want some practical tips, I recommend reading Your Money or Your Life. It’s what got me going down this path and really motivated to get my financial life in order. And I’m by no means there yet and am still constantly figuring out how to live with the FIRE concept.

Weekend Update: My One Week Money Diary

and they say there’s no such thing like a free lunch…it is when you go out with your mom!

and they say there’s no such thing like a free lunch…it is when you go out with your mom!

I was inspired by the various money diary posts I’ve seen around the internet to write one of my own. And boy was it a great way to see some of my terrible money spending habits (and this is me trying to be good)! I started on a random Thursday because that was just when I decided to start keeping track but I also didn’t want to make a big momentous start on a Monday just in case I ended up changing my habits knowing I had to hold myself accountable. So without further ado this is how I spent my money this past week (starting from the Thursday the week before)

Thursday

After reading some FIRE articles on a new blog I discover called Millennial Money I am motivated to move money from PayPal (where I earned some money from eBay as well as some affiliate earnings) to my bank account. I also move some money from my savings account to an investment account and buy some Vanguard index funds because they were down for the week. It’s so against my nature to buy when all the numbers are red but I know that’s the best way to buy “cheap” (and update, they went up later that week so now I feel happy about that decision). I need some new batteries for an old school camera so I purchase that on Amazon. Also while on Amazon I end up purchasing these gold hair pins on a whim (ack Amazon is such my Achilles heel when it comes to spending right now. I feel like I’m getting my “high” from buying on Amazon to replace the “high” I normally get from buying stuff for my closet—but I just better not go overboard). I blame too much Instagram browsing during Fashion Week and a recent blog post I read about pearl barrettes for this impulse splurge.
In the afternoon I’m browsing TheRealReal (a terrible terrible addiction/habit even though I’m not supposed to be shopping for my closet right now) when I see a pair of Veja sneakers pop-up on one of my saved feeds (and amazingly it’s my shoe size!!). I don’t hesitate to add it to my cart because with the 20% off code I get it for a total of $60 (retails for $168). Though this means that this sneaker might have to be my one addition to the closet for March (and it’s only Feb, oops). But since it’s shoes, there’s a chance I might return it if it doesn’t fit. But I definitely want to buy them because not only are they the ethical sneakers that I’ve been wanting to try for at least a year, but they’re also secondhand, half-off retail, and since I have some credit for selling things in January I spend $0 on it. {Update: I got them and they are super uncomfortable. The leather is super stiff and there’s hardly any cushioning. They’re quite possibly the most uncomfortable sneaker I’ve ever tried so they’re being returned asap.}
Total daily spend: $12.46 for the Amazon stuff

Friday

Today is an errands day and I go to the Post Office to mail something to my brother in law for my husband ($11.10). Then I go to Whole Foods for some grocery shopping. This is definitely one of the luxuries I haven’t given up yet despite my effort in working towards FIRE. I usually shop between Trader Joe’s and Whole Foods, with WF being the indulgence. And I must have gone shopping while hungry since I bought a lot more than just the basics. I got trail mix because it was on sale, some cheese because they had one of my faves (Cowgirl Creamery Mt. Tam) cut into halves so I wouldn’t have to purchase the whole disc, and a slice of cake facepalm. Also the pregnancy cravings don’t help. I also purchased a cake for my husband (since it’s his birthday tomorrow) and some extra frozen food to stock-up for when I can’t cook post c-section. But basically this is just a whole lotta justification for the larger than normal grocery bill of $92.03 (eek).

Total daily spend: $103.13

Saturday

It’s hubbys bday today so we go out for an all you can eat Korean bbq lunch with my mom and my mom pays. Score for a free lunch! After eating til busting, we need to walk around so we walk around the strip mall the restaurant is located in. We check out the Goodwill there and I’m always such a sucker for the book section. I can’t help myself and buy two Dr. Suess books for baby for 99 cents each (one of which is Cat In The Hat— such a classic, how could I not get it). Hubby wants a boba tea so we indulge and share one for $2.90. Then my mom wants to go to Burlington, which we’ve both never been to before, and I end up buying a Boppy breastfeeding pillow for $18.48. But I plan to return a $47.48 breastfeeding pillow I purchased earlier this month on Amazon so that’s a credit of $29 in my books. Finally we stop off at PetSmart to buy some much needed dog food for $55.
Total daily spend: $59.88 (not counting the Boppy nor the -$29 for the Amazon return)

Sunday

I stay home all day and putter around the house (which I find is the best way to not spend money, as long as I’m consciously not looking at my phone to shop). I succeed at spending no money today.

Total daily spend: $0

Monday

I was supposed to go to the doctor today but they cancel on me because she’s out sick. So instead I do errands like pick up dry cleaning ($6.50 and I don’t normally dry clean but this is something I borrowed) and do some more grocery shopping. This time I go to Trader Joe’s, stock up on some extra frozen meals to last us while I’m laid up recovering from the c-section (coming up in less than 2 weeks!!), and end up buying triple the amount of food compared to Friday’s Whole Food run but spend about the same amount of money ($101.08). I also return some things I purchased on Amazon at Amazon books (I love that I can just drop off my returns there and basically get a full refund from whatever I buy at Amazon) and get about $35 back to my card.

Total daily spend: $107.58 (not counting the returns)

Tuesday

I spend today at home working on the blog, tidying up the house, working on the baby’s room and dropping off some returns and stuff I sold on eBay. A very productive day with zero dollars spent. Whew!

Total daily spend: $0

Wednesday

I spend the morning investing in more index funds today because I see the numbers are down again. I invest in pretty small increments because I’m scared of getting burned by buying too many of one fund at once and then seeing the numbers go down. I feel like by spreading my buys I’m hedging my bets more. But I’m able to do this because the platform I’m currently using does not charge me for each trade (this tactic would not be worth it if each trade was say $4.95). I also decide to invest in some Vanguard bond ETFs because I see my current portfolio is basically made up of US large cap equity (ie all big US companies). Bonds don’t do nearly as well but it’s a way to diversify and spread out your risk (especially since 2019 is looking to be a rocky year). After reading this post and this article, I think I’ll be aiming for about a 25% or so bond allocation. Sorry if that was boring, but since this is my money diary I figured it was relevant.

Anyway I spend the rest of the day going to the bank and running small errands. I do buy some vitamins for my dog Ellie (the dachshund, who had a pretty serious back injury last year but now is fully recovered and I give her these vitamins as a preventative measure—plus her coat is looking way better these days). I’m also tempted to buy this cedar spray for my sweaters after reading Lee’s post here about taking care of her sweaters, but I’m going to wait until I’m ready to store my sweaters to purchase.

Daily spend: $28.11

So In Conclusion

Total Weekly Spend: $311.16

I’m so glad I did this little exercise for myself (even though I’m not too sure how much of a thrilling read it was for you guys lol—hope it wasn’t too mundane)! Even though I’m not shopping for my closet (except oops I did on the first day but really this is soooo much better than before), nor am I eating out, I can see that I do spend quite a bit on Amazon. I mixed in some needless purchases (the hair clips, which truth be told are a bit hard to use) along with essentials (batteries and vitamins) so I think I need to be better about sticking with just the essentials if I’m really going to try to cut down my expenses. This also means no more Whole Foods, or it’s going to at least have to be a very rare treat. I probably could do better with budgeting my grocery shopping in general (maybe it’s time to start scouring ads and clipping coupons for Safeway?). Anyway thanks for following along and I might do this just one more time post-pregnancy to see how things change later this year with baby (unless you guys really rather not read about it, in which case I guess I’d do it in my own notebook lol).

Anyone else track your expenses? And for those personal finance pros (or at least those more experienced at tracking spending than me), does my week spending look reasonable or excessive? (I have no idea since this is my first time doing this lol)

Weekend Update/ Ramblings

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Trying to find yourself through things doesn’t work: The ego satisfaction is short-lived and so you keep looking for more, keep buying, keep consuming…We cannot really honor things if we use them as a means to self-enhancement, that is to say, if we try to find ourselves through them. That is exactly what the ego does. Ego-identification with things creates attachment to things, obsession with things, which in turn creates our consumer society and economic structures where the only measure of progress is always more. The unchecked striving for more, for endless growth is a dysfunction and a disease…When you can no longer feel the life that you are, you are likely to try to fill up your life with things. As a spiritual practice I suggest you investigate your relationship with the world of things through self-observation, and in particular, things that are designated with the word ‘my.’ You need to be alert and honest to find out, for example, whether your sense of self-worth is bound up with things you possess…Is it wrong to be proud of one’s possessions or to feel resentful toward people who have more than you? Not at all. That sense of pride, of needing to stand out, the apparent enhancement of one’s self through ‘more than’ and diminishment through ‘less than’ is neither right nor wrong—it is the ego. The ego isn’t wrong, it’s just unconscious. When you observe the ego in yourself, you are beginning to go beyond it. Don’t take the ego seriously…Above all, know that the ego isn’t personal. It isn’t who you are.

I never thought I’d be an Eckhart Tolle kind of reader much less quote his book (A New Earth) publicly, but there you have it. Guess a person who’s education was based in science (Microbiology then Epidemiology) can still understand and buy into the fluffy world of new age spiritualism. But there’s just something about this book that makes sense to me (though I did get a great introduction to meditation and secular spirituality through my favorite book 10% Happier. I definitely could not have jumped straight into this book without some kind of introduction to the “monkey mind”, or what Mr. Tolle calls the ego here). Anyway with this book I’m beginning to see that I’ve wrapped up a lot of my self-worth through things and money, and really it’s only been feeding an always-unsatisfied ego. Recently, I’ve felt like I needed to cut back on my consumption, and that more things were in fact making me more unhappy (thus my new rule of no more free gifted items for semi-sponsored posts on this blog). For most of 2018 I viewed reviewing more things as a way of growing this blog to an even greater readership. But then again, why do I want to grow this blog? To feed the ego even more? No the whole point of this blog is because I really enjoy writing and communicating with all those I’m lucky enough to count on as readers. Also I love sharing my ideas in a mostly one way manner lol.

Anyway instead of trying to make more money/buy more stuff I’ve decided to take a different route. Yes, I’m sticking to my resolution of letting myself get one new item a month (which I’m sure I’ll be reviewing here), but I’m also going to be focusing on FIRE (Financial Independence, Retire Early). Have you heard of this movement? I just learned about it through this NYT article and my husband and I are obsessed. We definitely want to make our money work for us so that we can stop working just for the money sooner. We’re still newbies in the subject but we’re going to start tracking our expenses and putting our extra capital into investments. I also recently just finished reading Your Money or Your Life where they describe a Crossover Point where your monthly expenses meet or are below your monthly investment income. Sounds impossible I know, but we’re going to try (our crossover point will probably be over a decade from now, but even then retirement at 45-50 doesn’t sound so shabby). Or once we’re comfortable, we might try Barista Fire and I’d love to work part-time in ethical fashion.

Anyway I don’t really foresee this blog to turn into a financial blog but I will probably be talking about our journey towards FIRE and trying to make better choices about money. Probably most of it will be contained in my weekly updates but who knows how obsessed I get with this topic? Just curious though, would this be of interest to you guys?