#1 Way to Save 100k in Your 30s

I have been in the PF blogosphere for awhile now and have gorged on net worth updates and debt payoff stories. Much to my own chagrin I even published my own debt payoff story. I harbored some reticence because I didn't think the story was really much of an underdog story, but other bloggers had it as cornerstone content, so I did it too.

Lately, I've been stumbling on a few more how I saved x dollars by y time and while enticing at first when I close the post I find myself a little disappointed. It is all starting to get a little sententious for me, I suppose.

Case in point, when I did my post on selective poverty, I hoped to compare FIRE budgets with poverty and be surprised that wow, these people really are living on so little. The data didn't really show that. Then I remembered my own life. My aunt raised 4 kids (none of us were her biological children) on a max income of $40,000.   She did that because that was the best job she could find even after getting her doctorate. She faced a lot of discrimination and eventually went into substitute teaching and staffing group homes until she retired at age 62.

But while she was raising us, we ate free and reduced breakfast and lunch at school because we qualified for it; we had hand me downs and home-made clothes because before reaching her max income that's what we could afford. When things got better, we took lots of fun road trips around America with our pb and j kits in the back; sneaking into hotel rooms when they wanted to charge for each kid; splitting extra value meals at McDonald's; and getting Dairy Queen blizzards in the middle of winter when they were free.

So when I went to write my How I Saved 100k by Age 34 post, the idea stuck around in my draft list for two months because I couldn't in good conscience tell my 10 readers that the way to six-figure savings was to live simply- buying second hand stuff, using credit card rewards, getting a cool side hustle; oh and save 90% or more of your income.

No, I can't do that. I know better. So here's my #1 tip to saving $100k by your next milestone birthday...

#1 Find yourself in a position to earn $100k/ year and then don't spend half of it. Do that twice.

MERJ out!

Sunday Funnies | Getting Thai Food With Immigrant Aunty

Welcome back to My Early Retirement Journey. The single girl is at it again. This one took a lot less time than a full Saturday. I guess I’m getting the hang of this creating thing after all.

These are scenes inspired by a recent visit with Aunty MERJ. We have quite the history. In my culture, we sometimes speak pidgin English and eat a lot of rice.  Here's what happened the last time I tried to take my aunty out for Thai food. #singlegirllife

Find the original illustration created on Pixton in case this doesn’t load properly:



And in case you missed it:

Sunday Funnies | The Life Cycle of a Corporate Drone

Sunday Funnies | A Midwesterner in California

Single Girl Life | My Week Ending Oct 12, 2018: Gnats, Fired, 7on 7off

Welcome back to My Early Retirement Journey. In case you're just joining us, here's a little bit about me.  I am a single 30-something, openly Christian, hesitantly immigrant-y, human woman. I enjoy watching TV while eating takeout, and I want to retire early. I currently work as a consultant in a tele-health call center making around $40/hr. I started my professional life in 2015 at the ripe ole age of 31 after a few false starts. I spent 2016 paying off about $10,000 worth of credit card debt. I spent 2017 paying off about $20,000 in private student loans; I still have about $300,000 in federal student loans for which I am currently on an income-based repayment plan for the next 25 years, give or take.  I started really getting into savings and investing late 2017 when I stumbled upon the FIRE (financial independence, retire early) community.  In 2018, I made the decision to try to save for a sabbatical and maybe if all goes well continue the journey to early retirement.  Along this journey, I give weekly more personal than finance updates just like this one. Come along with me, I urge you!

My week

Monday – True to form, I want to quit my job this fine Monday morning. I feel like I’m not resting enough over the weekend. I spent most of it on social media, creating a pop-up form, and then more social media.  Don’t think I even watched 2 hours of TV in a row. Where did my weekend go?! I don’t even necessarily want to quit; I just want a break!

Tuesday – OMG! The gnats just won’t leave me! Fried some fish and fries last night in spite of them. I was frozen with indecision because I couldn’t stop being annoyed with the gnats. But I really didn’t feel like going back out to get food after coming home from work. So I had some fish and fries and probably inhaled 1 or 2 gnats. Gross.

Wednesday – Got drunken noodles for lunch. Now feeling very full. Decided to get a big lunch because not going to be home till after 9p because of Tai Chi. I called an old friend today! Yay me! I haven’t really hung out with anyone in 3 years, except that one time in March of this year. It’s funny, I think all these great things are happening in people’s lives and then they’re not. So my friend Cathryn was fired, but not in the financial independence way. She is upbeat about it but I’ve known her to be this way before when unsettling things happen.

It puts things a bit in perspective I suppose. I hate how we ultimately benefit from other people’s misfortune by calling it gratitude or perspective. I want to be grateful for the things in my life not because someone else is worse off but because I am truly appreciative of them.  Being a human is hard work and requires so much fine tuning and regular calibrating.

Thursday – The state fair was supposed to start today. I had made plans to go with a friend, making it my second social excursion of the year. But because of the storm (read: Hurricane Michael), another one I was completely unaware of, the state fair opening has been pushed back a day. Got my hurricane preparedness kit: a paperback book, an e book, an audiobook, and some snacks (corn puffs and chocolates). I’m ready for you, weather! Only one more week of Tai Chi left! One of the other students asked if I would take the next class. That’s a decided no. I want something that’s more follow the leader…as in stretch 2,3,4,5.  Not in the right frame of mind to learn choreography. Overall the class has helped me to at least move my body 1 hour a week.

Friday – Yay! Second day in a row I didn’t wake up to gnats crawling on my face or buzzing in my ear. No power last night because of storm. Laid in the dark until about 1a when power returned. Good job me on my storm kit: snacks and e-book. Fully utilized. Next time I might get candles or a portable lantern.  Thought more about buying a house since I can’t seem to find a way out of my current station in life. The way things are looking, I’ll probably be here for the next 7 years. Oh well. Tired of trying to claw my way out.

This morning thought more about pursuing a retail or hospital job, not for pay or training, both nice, but primarily for the 7 days on/ 7 days off schedule. That at least will give me more down time (pro).

I did a quick analysis. In Oct: with regular M-F work week, I work 23 days total and 7 days off. With a 7 on/ 7 off schedule, I would work 14 days with 17 days off. In Nov, with a regular M-F work week, I would work 22 days with 8 days off. With a 7 on/ 7 off schedule, I would work 16 days and have 14 days off.   With this new schedule as my objective, I feel a bit more motivated to apply for opportunities that might lead to this. So far applied for 1 full time job with this schedule and 1 part time retail job to gain experience.

 

7 on/ 7 off	Oct	Nov
Work	14 days	16 days
OFF	17 days	14 days

 

9a-5p	Oct	Nov
Work	23 days	22 days
OFF	8 days	8 days

 

Pros (7on/7off): more days off in any given month, use training, probably more pay

Cons (7on/7off): longer work day, new colleagues, could kill someone

I KNOW the shine will wear off after one or two years, but I at least know now to schedule longer breaks periodically throughout the year. What do you think?

TV this week: The Resident, House Hunters
Takeout this week: $10

Your turn

How was your week? What did you do? See? Feel? Think? Decide? How's your life journey in general?

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Related Content:

• Last week's update


• And the week before that

 

List of Single Girl Money Bloggers

When I first started this blog, it was not easy finding other women blogging about personal finance. As I got more immersed in the personal finance community, I realized there were more women who money than I originally thought.  Still not that many single girl money bloggers though. So to keep track, I thought I'd compile a list. The list at Tread Lightly, Retire Early helped me connect with other female personal fiance bloggers, so I know these lists are helpful especially for new bloggers like me. I just niched it down a bit to single girls- single meaning never married, childless, sans relationship, boos, or baes :)

Here's my list of single girl money bloggers, in no particular order. If you or someone you know needs to be added to the list, feel free to comment below with a link and two to three sentences telling me about your blog. I'll update the list periodically. Thanks, y'all!

Introducing the List of Single Girl Money Bloggers

#1 My Early Retirement Journey

This is yours truly. A single 30-something, openly Christian human woman. I love watching TV while eating takeout, and I want to retire early. I  started really getting into savings and investing late 2017 when I stumbled upon the FIRE (financial independence, retire early) community. In 2018, I made the decision to try to save for a sabbatical and maybe if all goes well continue the journey to early retirement.

#2  Splurging on Freedom

"A few years ago, I lost everything, almost every dollar I ever had to my name. But after a few pity parties (okay, a lot of them), I picked myself up, dusted myself off, and transformed my relationship with money. I don’t earn a great deal of money. And I certainly would never be able to earn enough in my entire lifetime to replace the 9-digit inheritance that I lost."

#3 The Single Dollar

"A mid-30s, long-term single woman with a humanities PhD and a desire to keep afloat without a second income — as well as to catch up after a dozen financially “lost” post-college years. I write primarily about my own life and finances, and I’m obviously no professional; any advice I give is to be taken with plenty of salt."

#4 Double Debt Single Woman

"A 40-something single woman living in the U.S. This blog chronicles my slow climb out of deep debt. My “double debt” refers to the $140+K twin terrors of student loan debt ($112,000+) and credit card debt ($30,000+). “Single woman” will address the difficult choices, challenges, and opportunities that those without partners experience when dealing with large debt alone."

#5 Struggling to Be Debt Free

"A 33 year old female residing in northern Florida where I earn my living as an attorney.  I currently earn approximately $80,000 a year at a small law firm in the area. I love to read, I like to write and knit.  I am single with no prospects, but I think I have steeled myself to become an old maid."

#6 Jane Has Debt

"Jane's ADHD has always made managing her finances a challenge. But not wanting to retire broke, she has made it her absolute mission to rid of nearly $81,000 of debt by embracing a Cash Only Lifestyle. Fueled by iced coffee and veggies."

#7 Reaching for Fi

"My name is Erin and I’m a 20-something living and working in DC. In 2016 I started to feel like I was living paycheck-to-paycheck, and in early 2017 I decided to finally get a handle on my finances. I fell down the rabbithole of personal finance blogs and emerged as a personal finance blogger myself! I’m using this blog to document my path to financial independence, as someone living on a not-so-big salary in a high-cost-of-living area."



 

5 Must Reads for Wed, Oct 10, 2018

Most popular post on My Early Retirement Journey this week: Single Girl Life | My Week Ending Sep 28, 2018: Regrets, Resignation, Murphy Brown

Wednesday Weekly is a round up of what I stumbled upon this week on the world wide web because sharing resources and information is what the internet is all about.

WHAT I STUMBLED UPON THIS WEEK

As inequality grows, so does the political influence of the rich (The Economist)

How My Smartphone Revived the Purity of Reading (Wired)

WOMEN ON THE WEB

How to Beat Mid-Career Malaise (Harvard Business Review)

How to Help Your Spouse Cope with Work Stress (Harvard Business Review)

THIS BLOGGING BUSINESS

Pinterest Traffic Tips: How Often Should You Pin on Pinterest? (PotPieGirl)

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