We have been talking about blogging quite a bit around our house the past couple months and the plethora of opportunities, friendships, and knowledge that can be gained from it. I would like to introduce you all to my wife, Stefanie, she will start contributing regularly! =)
Mrs. Brick by Brick Investing’s daily life
- What my husband thinks I do: Watch Teen Mom all day
- What my friends think I do: Play with the kids all day
- What I think I do: A mix between Martha Stewart, Betty Crocker, and Superwoman
- What my husband wishes I did: More Cooking, Less talking about cooking
- What I really do……
Before marrying Mr. Brick by Brick I was the “Average Joe” of stock investing. I was the typical 20 something year old fresh out of college with student loans, a brand new car, mortgage (that was barely holding on to its value), new puppy, no retirement account, and a closet full of clothes. Basically the exact opposite of “How A Single Person Should Live If They Want To Be Rich.”
The number one thing I have learned through the years is you can almost always use less. This does not mean absolutely giving up everything forever. It means setting boundaries, coming up with a plan, and finding out what is truly important to you. After going through all my finances I realized how much money I was spending on unnecessary trivial things. This consisted of:
- Eating out for lunch everyday which cost $7/meal added up to over $100 a month!
- Spending money on a toll road on my way to work was costing me hundreds of dollars a year.
- Going shopping at the end of every month in search of the latest and greatest.
After sitting down with Marvin, to my surprise we calculated I could pay off my debt within 2 years. I never thought I could pay it off that fast so I honestly never even tried. I was under the impression that everyone had student loans and had plenty of time to pay them off. I wasn’t making a significant amount of money so the idea of making additional payments towards the principal wasn’t even thought of, so just made the minimum payments.
Basically I came up with every excuse as to why it shouldn’t be done. I organized my debt based on loan size and interest rates and tackled each of them one at a time and within a few years I was debt free (minus my mortgage). I was honestly baffled at how easy it was. Now without having so many monthly payments I had much more money to invest with.
While we are by no means rich nor am I a successful financial advisor we were able to achieve some of our life long goals. As many of you know we welcomed our second child last month. Our kids mean the world to us and with the astronomical costs of daycare we decided I would quit my full time job to start a new job being a Stay at Home Mom. This is a brand new journey for me one that I am fortunate enough to embark upon. There will be good days and bad days but its all worth it in the end.
The journey to becoming/staying rich never ends! Its a constant uphill battle without succumbing to the Jones’ (which I am completely guilty of and thankfully I have Mr. Brick by Brick to give me a swift kick the you know what to set me back to reality). With this new journey I want to start a new goal of seeing how much money I can save each month whether it is through couponing, making our own meals, or finding cheap creative activities for the kids. It has to be done. I will let you know of my progress.
Thank you all for your time. I look forward to seeing you around the blogosphere.