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  1. #21
    Registered User FooFooCuddlyPoops's Avatar
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    05-11-2014
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    That is what my parents said when I told them my plan.....

    Hope you guys enjoyed the saving money thing either way. If you keep splurging to a minimal and really hone in your expenses, even that $2 coffee from mc Donald's!, you can finance your dreams. I am the kind of person who has bought a $20 ticket round trip bus to NYC for a week with $50 to my name. I find a few side jobs, work 3 out of 7 days, and play the rest with the money I earned. NYC people pay ALOT per hour to clean their house. I am talking about $150 for like three hours of basic work. Most of the time, I can usually pay for my trip x2 by working a few hours, and end up coming home with some extra income. It is also how you spend it in NYC as well! I am a sightseer, not a partier. So, I tend to do things on the cheap with food being the most expensive thing with the trip.

    But alas. When you work for minimum wage with the desire to travel, you learn how to manage your money very very quickly.

  2. #22

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    Quote Originally Posted by Bronk View Post
    Build a life where you don't have many/any bills.
    Quote Originally Posted by kayak karl View Post
    Living like a hermit so you can live like a homeless person.
    Bronk is right---Have a life with few bills. Kayak Karl echos this opinion.

    The backpacking lifestyle is an odd "hobby" in that it requires big chunks of all-day and overnight time. Most hobbies do not take you away from your life and home as much as backpacking, like golfing or stamp collecting.

    Some AT thruhikers even relinquish their homes/houses and become homeless, thereby removing nearly all bills in the process. My tent becomes my home.

    It's amazing how many monthly fees are associated with our current American lifestyle and seemingly paid by nearly everyone---cellphone bill, internet bill, TV dish bill, car insurance and tags, home phone bill, rent/mortgage, the usual home utilities. Food and car fuel. Added taxes on everything. Endless debt. How do people keep up? Constant work which in large part is tied into urban and commercial settings. And not out in wilderness settings.

    What's the solution for trail bums and hiker trash and lifelong backpackers? My old mantra---See how little money you can make and still be happy.

    And try to create a life without bills. Ergo: More time for backpacking.

  3. #23
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    05-14-2016
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    I agree with living a life with few bills. It's awesome but, not always cool.

    My wife and I made a deliberate decision years ago, to live even for frugally than we had been. We have a few nice things but mostly do without the things our broke friends are buying. The car is old, we shop at second hand stores a lot and don't go out much or on big vacations. We have a goal of paying off the house and, in 2 years we are done, 15 years early. We will be in our early 40's with slightly above average incomes and some financial discipline. There is an amazing thing about living this way, we have a reasonable emergency fund and when things break or come up, we don't freak out because we can cover it without worry.

    Saving for something that is important to you, like a LD hike, just takes some discipline and the willingness to cut out the unnecessary things in our lives. It creates breathing room and allows you to save money and energy.

  4. #24
    Garlic
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    Quote Originally Posted by jgillam View Post
    I agree with living a life with few bills. It's awesome but, not always cool.
    My wife and I made a deliberate decision years ago, to live even for frugally than we had been. We have a few nice things but mostly do without the things our broke friends are buying. The car is old, we shop at second hand stores a lot and don't go out much or on big vacations. We have a goal of paying off the house and, in 2 years we are done, 15 years early. We will be in our early 40's with slightly above average incomes and some financial discipline. There is an amazing thing about living this way, we have a reasonable emergency fund and when things break or come up, we don't freak out because we can cover it without worry.
    Saving for something that is important to you, like a LD hike, just takes some discipline and the willingness to cut out the unnecessary things in our lives. It creates breathing room and allows you to save money and energy.
    I applaud you for this. And as you know, it's not only about saving for one thing like a LD hike.

    Mr Money Mustache posted this a few years ago: http://www.mrmoneymustache.com/2012/...ly-retirement/

    My wife and I made a goal when we got married 35 years ago to live on half our income. The basic math showed that financial independence should come in fifteen years, and it did. We paid off a house mortgage in five years, then net worth accelerated quickly after that. Coworkers and friends, even financial pros, thought we were crazy. We were pleased when Mr Money Mustache started blogging about it. Hopefully more will get the message.

    It's funny you say it's not always cool. True, but when the next financial crisis comes, you can be a spectator, and that's cool enough for me.

  5. #25

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    Quote Originally Posted by shelb View Post
    While my financial advisor frowns on this, I save money by having extra money taken out of my paychecks for Federal taxes. That way, I get a much larger return.... During the year - every two weeks- that extra money would have been paltry and easily spent; however, when I get my return, it is a major chunk of change that gets directed to a special project.
    why not just set up a separate savings account and have the money direct deposited there? No sense giving the .gov a free loan every year. And then you don't have to ask for it back and it's also available if you have an emergency you need to pay for.
    https://tinyurl.com/MyFDresults

    A vigorous five-mile walk will do more good for an unhappy but otherwise healthy adult than all the medicine and psychology in the world. ~Paul Dudley White

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