Comment on Pay Yourself First Using Buckets Not Budgets by ambertreeleaves.
The bucket principle and pay your self first is the corner stone of our current savings level and the progress of the last few years.
We have fixed the minimal savings we want to do. We have a prty good ide of the budget we want to spend on living and fun.
This results in a monthly automated distribution of our income to savings:investing and living accounts. The buckets now took over from the budget… We have no idea what we pend on grocery, clothes, restaurants, kids, gifts… Easy to track this way!
Recent Comments by ambertreeleaves
Creating a Better Life By Spending Less Not Earning More
At this time, we are working to fund our FIRE funds so that soon that can fund our essentials. We are quite low already on discretionary compared to others.
It can still go lower. 4K per year on ski is really not needed and can be replaced with a 2K other type or holiday, or even staycation, why not…!
At one point in time, we will need to decide on what is more important: the discretionary spending or the freedom FIRE can bring.
I Found the Perfect Mountain Cabin Vacation Home
Great story. I like the math to decide on buy or not. You also add in the occasional renting in stead of buying. All good elements.
We do not own one, we could use one from the family and now no longer can. It is great to have cheap holidays. It was cheap for us as someone else paid all the costs. Personally, I would not buy one. It means holidays always on the same spot, guilty feelings when going elsewhere,…
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Thx for the mention.
Now that we have a better idea of what we want, it is easier to go after that, evne if it means postponing FI a few years. Without that isight, I would not have changed jobs to a startup. From apure FI point of view, earning less is just plain stupid. In the bigger picture, it makse 200 pct sense….
Avoid the Home Warranty Repair Scam
Sounds like you do not need that warranty. How many times last 2 years did you need a repair? What was the cost?
Learn To Profit By Taking Risk
Thx for sharing this!
Tom is a great person. He runs Tastytrade, the financial network I love to follow.
I watch their show on a regular basis!