I've never done anything in one day. Pulled a broken faucet out, took mrs a month to buy new one, then 2 visit to Home Depot and two days to install it.
I applaud those who move fast.
We started in a 'starter' home back in 2000 when all of my peers and friends were going McMansion and swimming in the glory days of dot-com wonderfulness.
What is interesting about our story is that the house we started out in was a tiny cape cod in a historic town built near the end of the great depression. It has beams taken from tow barges and seems to be built to withstand a direct hit by a nuke.
We have since moved to a slightly larger home ( a bank owned foreclosure...could not pass it up) and actually miss some of the 'smallness' and intimacy of our old place. We still own it and consider moving back from time to time whenever a tenant moves out.
EVERYTHING is cheaper and easier in a small home. I wrote about this in my book, The Hero's Journey to Financial Independence:
------
Return of the Starter Home
It once was that young families would work hard to save their money and put a down payment on a small, inexpensive property. This one act would allow them to more quickly pay off their mortgage and offered a whole bunch of additional benefits. Two major benefits of starter homes are that they cost you less and aid your frugality. Here is some more detail on these benefits:
Starter Homes Cost Less
1. Lower purchase price: A decent small house in a nice neighborhood costs less to buy and you’ll pay much less in interest over the life of the loan.
2. Lower taxes & Insurance: These are based primarily on property value; lower value = lower taxes & insurance.
3. Maintenance joy: Less paint, fewer shingles and less time doing both activities makes home maintenance an enjoyable activity.
4. Green Machine: A small home is cheaper to initially insulate and a well-insulated small house continues to be cheaper to heat and cool.
Starter Homes Aid Stylish Frugality
1. Smart decisions: Less storage space actually forces good decisions about what is important. A big home is notorious for its ability to hide things from its owners. A small home pushes you to make smarter decisions about what to keep and what to donate.
2. Nice Furniture & Amenities: Small space living encourages you to buy less frequently and with greater consideration of high-quality and long-lasting items. Beautiful wood flooring & granite countertops can be had for a fraction of the cost when you have fewer rooms and less square footage to cover.
Starter homes enhance the quality of life
All of these little things add up to a huge boost in the one thing that is thought to improve overall quality of life in recent years. Time. When you trade down to wealth in regards to choosing to live in a slightly smaller, more affordable home you reap all kinds of time-related benefits. You spend less time cleaning the house, less time working to pay the mortgage, utilities and taxes and less time and money on maintenance. Having more time freed up to pursue education, run a small side business and play with your kids cannot be underestimated.
-------
Look to your contacts in the younger generation if you consider yourself in the older one. When I was writing this article, I thought of a family member who I don't consider too old but is in her late 50s and then considered the little kids who I hung out in the neighborhood. And wouldn't you know that the neighbor kid who frequently got in trouble way back when has moved from a creative field to entrepreneurship to a corporate type job in his early 50s and would be a great contact for my family member. I found the now-grown neighbor through a LinkedIn profile -- so if you haven't already developed contacts through this method, you should go ahead and get started. Plus your far-flung relatives may still have contacts in your hometown.
As Will reiterated, alumni associations are great sources, whether you have old college buddies you are looking up or not.
And, the reason I thought of cycling groups, outreach groups, book clubs, parent groups -- wherever there are circles of people -- is that those are activities that I am involved in as a non-recent graduate.
Don't discount people who you think can't help. You never know who can give you great leads or excellent advice until, well, they actually do.
I did write the article for the Wise Bread audience (younger-than-me readers) but certainly wanted to make it applicable to people of all ages. Hope highlighting some of the tips relevant to multiple generations helps! Good luck!
Networking is definitely tougher when you approach retirement age, especially if the companies you used to work for are no longer around.
However, I don't think you need to know specific people to get the benefits of networking. For example, you don't need to go to the exact teacher you had when you went to school. You can still go to your school's alumni association and ask about what kind of networking events they have.
If your industry has an organization, attend some of their events, volunteer to organize events, or contribute a free article to their newsletter. You have the advantage of experience. I think people would be pleased to hear what you have to say and learn from your skill set.
As for your far-flung relatives, don't give up on them. You never know what contacts they have unless you ask around. In this day and age, people move around constantly. Maybe one of your relatives had a neighbor who works in the industry you want to work in, and has since moved to your part of the country.
I save because it is comforting to have a cushion if something goes wrong. Both of our cars are 12 years old and our house is at least 100 years old, so something seems to always need to have repairs done.
What do you mean by strip the first run? And do you mean add water to the still and then distill? I also read your comment on reusing yeast. Can I reuse turbo yeast and how would I do that? Do I filter the yeast out before I put it in the still with a cheesecloth?
And what do you do when you are out of work and considered "too old" because you are approaching retirement age? Some places where I used to work are gone. I don't even know which of my former teachers are still alive. I have no attorney, accountant, barber, bike repair shop and my insurance agent is a lizard. My far-flung relatives will be no help as I can't just uproot myself and go chasing down a job in another part of the country. Once again, I look for help and find an article written for the upper middle class recent graduate with actual connections.
I grew up in a 1000 sq ft house and my mom sure encouraged outdoor activity. In the warm months, my mom would say "you kids go outside and play". We hardly spent any time at all indoors in the summer months. Without air conditioning, its no wonder. We didn't even come inside for water, we got it from the water hose. As an adult, I've never owned a house more that 1500 sq ft and have always been fond of smaller homes.
Smaller houses are less expensive to buy and maintain? This is shocking news! I own a 5000 sq foot home and my property taxes are $14k. My roof will cost more to replace, it costs more to heat and cool, but these are obvious.
The issue shouldn't be to move into a smaller home because its cheaper, then try to justify it by saying it will "promote good design". If you need to move into a smaller home to save money, then just say it. We still go outdoors and interact with each other.
We should strive to provide our families with a home that suits and fits our needs, regardless of anything above.
I'm no finance expert, but I am a self-made millionaire at age 34.
Family is my reason for overall saving. Growing up my dad would always save in order to take care of his family and I really respected that. After meeting my wife and getting to know her background it motivated to save even more. Her father left her mom when she was in elementary with her and her brother who has down syndrome. Her mom had to work 2 jobs in order to have food on the table for my wife and her brother. As soon as my wife was eligible, she started working in High School to assist her mom with the bills. My wife received several scholarships for college and due to her academics she was able to go to college on a full ride scholarship. This took a lot of burden off her mom as she continued to work and provide food and pay the bills.
Today my wife and I assist her mom and brother with their living expenses. We pay almost half of their bills so its a sacrifice for my wife and I but I'm grateful to do this because of the sacrifices my wife have taken.
This is a big reason that I save so that I can assist family and my future family as my wife and I are expecting to be parents this summer. I want to be able to provide like how my dad did while growing up.
I appreciate this website along with Save Up for creative incentives to save.
Great tips Julie. Most people are very happy to help their acquaintances find work. I think most of us remember how hard it is to find a job (especially as a younger person trying to break into an industry). And helping people find work also expands my network. It is truly a win-win situation.
Literally in love with this post!! I have been seriously lacking the the accessory department, because I feel I shouldn't spend money of an item that can only be worn with one outfit. I recently discovered etsy and let me tell you, it is addicting! Great deals, and such cute items!
Saying this was an interesting post would be an understatement! Who knew that beer could get ride of pest!?!? I'm going to try this out and see how it works. I would have never thought to use beer to help with pests.
Love this article! I think everyone is so obsessed with having these dream mansions that house so many rooms. They aren't necessary though!! You can be just as happy in a small comfortable size house, you don't need a home gym, 3 guest bedrooms, and an office...its ridiculous! Run outside for your exercise, it'll give you a chance to get some fresh air!
I love pomegranates and pomegranate juice. My issue is specifically that the marketing raises the price of the product, as does paying companies to perform studies that claim that pomegranates have more health benefits than they really do. The bottles are cute, but it doesn't enhance the product at all.
I'm motivated because we have no insurance or retirement any more. My husband lost his job and is now working for a temp agency. It has left us with a feeling of insecurity and need for a fall back.
Along the same lines as the sign painting: cut up some old magazines and make yourself an interesting collage that you can frame and hang on the wall. Or buy some prints of artwork you like or print out some photographs from your digital library to frame and hang on the wall. This is a simple DIY project that can really make a big difference in your living space. I feel so much more at home when I surround myself with things I like to look at.
3 years ago I was in a very bad car accident that wiped me out financially. Even though I was not at fault in the accident, I soon learned the hard way that I was responsible for paying all of my bills upfront and then waiting to be reimbursed by the other driver's insurance company once the case had been settled. I did not have the financial means to care for myself during this time, and that was a wake up call. I do not ever want to find myself in that situation again, which is why I have spent the last 3 years aggressively building an emergency fund. That is my motivation!
I've never done anything in one day. Pulled a broken faucet out, took mrs a month to buy new one, then 2 visit to Home Depot and two days to install it.
I applaud those who move fast.
We started in a 'starter' home back in 2000 when all of my peers and friends were going McMansion and swimming in the glory days of dot-com wonderfulness.
What is interesting about our story is that the house we started out in was a tiny cape cod in a historic town built near the end of the great depression. It has beams taken from tow barges and seems to be built to withstand a direct hit by a nuke.
We have since moved to a slightly larger home ( a bank owned foreclosure...could not pass it up) and actually miss some of the 'smallness' and intimacy of our old place. We still own it and consider moving back from time to time whenever a tenant moves out.
EVERYTHING is cheaper and easier in a small home. I wrote about this in my book, The Hero's Journey to Financial Independence:
------
Return of the Starter Home
It once was that young families would work hard to save their money and put a down payment on a small, inexpensive property. This one act would allow them to more quickly pay off their mortgage and offered a whole bunch of additional benefits. Two major benefits of starter homes are that they cost you less and aid your frugality. Here is some more detail on these benefits:
Starter Homes Cost Less
1. Lower purchase price: A decent small house in a nice neighborhood costs less to buy and you’ll pay much less in interest over the life of the loan.
2. Lower taxes & Insurance: These are based primarily on property value; lower value = lower taxes & insurance.
3. Maintenance joy: Less paint, fewer shingles and less time doing both activities makes home maintenance an enjoyable activity.
4. Green Machine: A small home is cheaper to initially insulate and a well-insulated small house continues to be cheaper to heat and cool.
Starter Homes Aid Stylish Frugality
1. Smart decisions: Less storage space actually forces good decisions about what is important. A big home is notorious for its ability to hide things from its owners. A small home pushes you to make smarter decisions about what to keep and what to donate.
2. Nice Furniture & Amenities: Small space living encourages you to buy less frequently and with greater consideration of high-quality and long-lasting items. Beautiful wood flooring & granite countertops can be had for a fraction of the cost when you have fewer rooms and less square footage to cover.
Starter homes enhance the quality of life
All of these little things add up to a huge boost in the one thing that is thought to improve overall quality of life in recent years. Time. When you trade down to wealth in regards to choosing to live in a slightly smaller, more affordable home you reap all kinds of time-related benefits. You spend less time cleaning the house, less time working to pay the mortgage, utilities and taxes and less time and money on maintenance. Having more time freed up to pursue education, run a small side business and play with your kids cannot be underestimated.
-------
Look to your contacts in the younger generation if you consider yourself in the older one. When I was writing this article, I thought of a family member who I don't consider too old but is in her late 50s and then considered the little kids who I hung out in the neighborhood. And wouldn't you know that the neighbor kid who frequently got in trouble way back when has moved from a creative field to entrepreneurship to a corporate type job in his early 50s and would be a great contact for my family member. I found the now-grown neighbor through a LinkedIn profile -- so if you haven't already developed contacts through this method, you should go ahead and get started. Plus your far-flung relatives may still have contacts in your hometown.
As Will reiterated, alumni associations are great sources, whether you have old college buddies you are looking up or not.
And, the reason I thought of cycling groups, outreach groups, book clubs, parent groups -- wherever there are circles of people -- is that those are activities that I am involved in as a non-recent graduate.
Don't discount people who you think can't help. You never know who can give you great leads or excellent advice until, well, they actually do.
I did write the article for the Wise Bread audience (younger-than-me readers) but certainly wanted to make it applicable to people of all ages. Hope highlighting some of the tips relevant to multiple generations helps! Good luck!
What motivates me to save is fear. I'm terrified of not having enough of an emergency fund to get by when things go wrong.
Hi Elyse,
Networking is definitely tougher when you approach retirement age, especially if the companies you used to work for are no longer around.
However, I don't think you need to know specific people to get the benefits of networking. For example, you don't need to go to the exact teacher you had when you went to school. You can still go to your school's alumni association and ask about what kind of networking events they have.
If your industry has an organization, attend some of their events, volunteer to organize events, or contribute a free article to their newsletter. You have the advantage of experience. I think people would be pleased to hear what you have to say and learn from your skill set.
As for your far-flung relatives, don't give up on them. You never know what contacts they have unless you ask around. In this day and age, people move around constantly. Maybe one of your relatives had a neighbor who works in the industry you want to work in, and has since moved to your part of the country.
I wish you the best of luck in your job search.
You are welcome! Thanks for writing it and sponsoring the chat! :)
I save because it is comforting to have a cushion if something goes wrong. Both of our cars are 12 years old and our house is at least 100 years old, so something seems to always need to have repairs done.
What do you mean by strip the first run? And do you mean add water to the still and then distill? I also read your comment on reusing yeast. Can I reuse turbo yeast and how would I do that? Do I filter the yeast out before I put it in the still with a cheesecloth?
Fear! Fear that I will never land another full-time job. Fear that I will never make decent money again.
And what do you do when you are out of work and considered "too old" because you are approaching retirement age? Some places where I used to work are gone. I don't even know which of my former teachers are still alive. I have no attorney, accountant, barber, bike repair shop and my insurance agent is a lizard. My far-flung relatives will be no help as I can't just uproot myself and go chasing down a job in another part of the country. Once again, I look for help and find an article written for the upper middle class recent graduate with actual connections.
I grew up in a 1000 sq ft house and my mom sure encouraged outdoor activity. In the warm months, my mom would say "you kids go outside and play". We hardly spent any time at all indoors in the summer months. Without air conditioning, its no wonder. We didn't even come inside for water, we got it from the water hose. As an adult, I've never owned a house more that 1500 sq ft and have always been fond of smaller homes.
Smaller houses are less expensive to buy and maintain? This is shocking news! I own a 5000 sq foot home and my property taxes are $14k. My roof will cost more to replace, it costs more to heat and cool, but these are obvious.
The issue shouldn't be to move into a smaller home because its cheaper, then try to justify it by saying it will "promote good design". If you need to move into a smaller home to save money, then just say it. We still go outdoors and interact with each other.
We should strive to provide our families with a home that suits and fits our needs, regardless of anything above.
I'm no finance expert, but I am a self-made millionaire at age 34.
Thank you very much!
Family is my reason for overall saving. Growing up my dad would always save in order to take care of his family and I really respected that. After meeting my wife and getting to know her background it motivated to save even more. Her father left her mom when she was in elementary with her and her brother who has down syndrome. Her mom had to work 2 jobs in order to have food on the table for my wife and her brother. As soon as my wife was eligible, she started working in High School to assist her mom with the bills. My wife received several scholarships for college and due to her academics she was able to go to college on a full ride scholarship. This took a lot of burden off her mom as she continued to work and provide food and pay the bills.
Today my wife and I assist her mom and brother with their living expenses. We pay almost half of their bills so its a sacrifice for my wife and I but I'm grateful to do this because of the sacrifices my wife have taken.
This is a big reason that I save so that I can assist family and my future family as my wife and I are expecting to be parents this summer. I want to be able to provide like how my dad did while growing up.
I appreciate this website along with Save Up for creative incentives to save.
Great tips Julie. Most people are very happy to help their acquaintances find work. I think most of us remember how hard it is to find a job (especially as a younger person trying to break into an industry). And helping people find work also expands my network. It is truly a win-win situation.
Thanks for including my article! You guys rock!
Literally in love with this post!! I have been seriously lacking the the accessory department, because I feel I shouldn't spend money of an item that can only be worn with one outfit. I recently discovered etsy and let me tell you, it is addicting! Great deals, and such cute items!
Saying this was an interesting post would be an understatement! Who knew that beer could get ride of pest!?!? I'm going to try this out and see how it works. I would have never thought to use beer to help with pests.
Love this article! I think everyone is so obsessed with having these dream mansions that house so many rooms. They aren't necessary though!! You can be just as happy in a small comfortable size house, you don't need a home gym, 3 guest bedrooms, and an office...its ridiculous! Run outside for your exercise, it'll give you a chance to get some fresh air!
I love pomegranates and pomegranate juice. My issue is specifically that the marketing raises the price of the product, as does paying companies to perform studies that claim that pomegranates have more health benefits than they really do. The bottles are cute, but it doesn't enhance the product at all.
I'm motivated because we have no insurance or retirement any more. My husband lost his job and is now working for a temp agency. It has left us with a feeling of insecurity and need for a fall back.
Along the same lines as the sign painting: cut up some old magazines and make yourself an interesting collage that you can frame and hang on the wall. Or buy some prints of artwork you like or print out some photographs from your digital library to frame and hang on the wall. This is a simple DIY project that can really make a big difference in your living space. I feel so much more at home when I surround myself with things I like to look at.
Thanks for the tip! I had never heard of that treatment. Glad you found something that works.
3 years ago I was in a very bad car accident that wiped me out financially. Even though I was not at fault in the accident, I soon learned the hard way that I was responsible for paying all of my bills upfront and then waiting to be reimbursed by the other driver's insurance company once the case had been settled. I did not have the financial means to care for myself during this time, and that was a wake up call. I do not ever want to find myself in that situation again, which is why I have spent the last 3 years aggressively building an emergency fund. That is my motivation!
Preaching, yes. That was the aim. I'm very religious about root veggies.