Anything that wasn’t essential was cut from our budget. I changed jobs to earn more money. I took on additional jobs and side hustled like crazy. We sold stuff. Dinner was rice and beans.
This is the last article you will ever need to read on market timing. It’s a bold claim, but I’m not messing around. So, strap in, because the training wheels are off on this one.
I tend to come out with all kinds of unhealthy (and unfrugal) stuff – pizzas, cakes, cookies (they’re my biggest weak spot), sweets, you name it… If it’s loaded in fat and sugar and I’m hungry it’s in the trolley… Do yourself a favour and shop on a full stomach to stop your tummy making the shopping decisions!
[A friend back from sabbatical] joked...he might quit again and go on a new backpacking adventure. He then went on to tell me “after all, I now have more money than at the time of my resignation last year. I could totally do it again.” My immediate reaction: “Wow, how is this possible?” Sure, I have saved quite a bit but I do not think that I would have reached his milestone as quickly. I’ve always known that I spent more than he did but not in significant amounts. Yet, I questioned myself and wondered whether I was not falling into the lifestyle inflation trap despite my best efforts.
If you’re training for a marathon...you can’t just decide one day to get up off the couch and run 26 miles. You need a step-by-step plan to get there, incremental goals to achieve, and metrics to track to see if you’re making progress...In the same way, if you want to achieve financial success [you need] a plan to get there and metrics to track along the way to see how you’re doing and push you to get better.
Rockstar Guest Curator
Riley Adams is a licensed CPA in the state of Louisiana working as a Senior Financial Analyst for a Fortune 500 company in New Orleans. He has a personal finance blog dedicated to helping young professionals find financial independence at Young and the Invested.