Two fools, huh? Yep, that’s exactly how we feel. Foolish. We are 40ish year old professionals that should be well into enjoying our years of financial independence, yet, we’re not. And the more (most?) scary part is we really have no clue how close we are.
There’s a quote out there….”you weren’t born to pay bills and die.” People can think what they want of it, and while we enjoy our jobs, there are plenty of people out there who do not clock into an 8 to 5 job every day (or at least, past a certain point for some) or have non-traditional jobs that keep money coming in. This is what we’re after….freedom. Freedom to have more time with our children and more time to travel and spend time together as a family. Last year I spent 10 days in Italy. It was the trip of a lifetime! Thanks to the $75 airfare (cost for using our miles) I was able to swing it. But what if we could do trips like that more often?
We found Mr. Money Mustache a few years back and had a fire lit to get things in order, but I’m honestly not sure what happened. We are busy (but that’s a lazy man’s excuse in the grand scheme of things). Back then I was a stay-at-home mom spending my days with my kids not-yet-in-school. Currently I’m working a mostly full-time job and two part-time jobs. But this new job also was a boon to our income (yes, a 33% increase to your income is substantial, you should treat it as such and not waste it). I’ll admit we haven’t done things the way we should have all these years, but we’re ready to get on track.
So, thus this blog is born…our place to document our plans and hold ourselves accountable. We have used YNAB for years. I have signed on to Personal Capital (though the two seem to be at odds and I need to figure out where I fall on that) and am using it to track our net worth and calculate our FI date. I’m trying to ensure that every single dollar of my part-time jobs goes to pay off debt and/or get reinvested.
Look, the fact that we have any debt at this point is somewhat embarrassing. And I’ll admit, I don’t expect our journey to be near as extreme as other financial independence bloggers, but more to come on that in future posts. We have to find our own path, but now we need to commit.
So, first steps. Establish our baseline spending which we have a decent handle on, but need to do some serious tweaking to. Our food spending is high, other spending needs to be examined….so time to get serious. I need to finish loading the last of our accounts into Personal Capital and have a better handle on our total net worth. Then it’s time for action….what are we going to tackle first (I also have a good idea what this is going to be) and why? What next?
So many questions!!! Stay tuned…..