• Early Retirement,  Frugality,  Income Streams,  Tools and Resources

    Book Review: Set For Life

    I just finished up reading Scott Trench’s book Set For Life. As Mrs. BFI and I are on the journey to financial independence and have real estate investments, this book on starting from zero (or negative) and heading to financial independence published by Bigger Pockets, which is a real estate investing group certainly caught my attention. I wanted to let you know my thoughts both good and bad on the book and a couple key take aways for me. I should first start by saying the book is heavily targeted at younger aged millennial type people making medium salaries ($50K range). For those people the book can basically be summed…

  • Frugality

    Vacation; Hard to Break Free

    Mrs. BFI and I were lucky enough to get away for a couple extra days around the fourth of July holiday and experience some of what the coast has to offer. Working on extreme frugality can be difficult work in and of itself so we made budget conscious decisions but also tried to break free from the budget scrutiny in some regards. For example, we were able to save a huge amount of money ($100+) by taking our dog with us instead of boarding her. By doing this we weren’t able to experience the same state of relaxation he had in the past, but that was a trade-off we made.…

  • Income Reports,  Income Streams

    June 2018 Profit/Loss

    Hi BFIers! I’ve been slow to post the past couple of weeks but that is because Mrs. BFI and I have been hustling hard trying to get the revenue up! On that note, here are the June 2018 numbers. It’s a good looking month for a few reasons: 1) We both had extra paychecks with the way the pay periods fell, 2) this was the first month our rental increase hit, small dollar change but big mental win, and 3) We had an even bigger side hustle (HGD) month than May with $844 in income! Overall we were able to edge out February as our new highest income producing month.…

  • Frugality

    I Chose My Fitness Over Frugality, and I’m Not Sorry

    I have been in a buyers predicament for months. Literally losing over sleep, deciding whether or not to make a purchase. Here’s the thing, I really wanted a Fitbit Versa. I already had an old fitbit, that was falling apart. Truly coming apart at the seams, and I didn’t just want to replace it, I wanted to update it.   This is the hard thing about being frugal. It’s not about learning frugal habits, it’s about balancing those in everyday life. Mr. BFI didn’t understand why I yearned so much for this smart fitness tracking watch. I tried to explain that it helped me live a happier, healthier life. That…

  • Frugality,  Income Streams

    Growing (well Actually) Composting Our Money

    I’ve talked in a previous post about how spending small amounts of money really does add up, and how it’s hard for people to see the bigger impact of saving even $5 a day. You would expect (or at least I would expect ) that Mr. BFI and I would have mastered this skill by now. But let me tell you all, that this journey to financial independence is never really over and Mr. BFI and I are both still learning. Rain Barrels Galore We recently went to a free workshop that our township was having, to learn about rain barrels and then at the end, get our own! Needless…

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  • Frugality

    Brown Baggin it

    One of the things Mrs. BFI and I do every week to help with our BFI journey is to grocery shop on Sunday and then make our lunches for the following week. There are tons of things I’d rather be doing with 1 of my 2 days off, but I know that ‘brown bagging’ lunch every week adds up. Me being the creature of habit and routine that I am, have been eating more or less the same lunch every workday for the past 2 years; A salad, some sort of fruit, peanuts or pretzels, and water. After finding more cost effective grocery store purchases like buying lettuce heads instead…

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  • Frugality

    Your $5 Coffee is Preventing You from Retiring

    When it comes to spending less money, I often hear people saying “it’s not like $5 bucks is going to break or make the bank”. This excuse normally comes when ordering something at Starbucks, following a budget for a major home renovation, or vacation, or when paying down debt. Welcome to the Rat Race I had a friend who was expecting to have to pay $50,000 over a few years for work on their home that was mandatory for the structure of the house. They would constantly say to me “I spent $100 clothes shopping, I know I’m going to have this huge bill, but it’s not like $100 is…

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  • Income Reports,  Income Streams

    May 2018 Profit/Loss

    Hi Everyone, May mark’s a month full of expenses, one of our most expensive month’s on record, but this is a mix of expected and unexpected expenses. Income: We had $8050 in income this month. We hit a record high ‘side hustling’ income of $812 in addition to our rental income and traditional paychecks. We were very happy with the income we were able to generate by selling our side hustle products and we look forward to growing that nugget of income throughout the summer. It’ is important to note that this is certainly not passive income. Mrs. BFI and I worked many nights and weekends, buying supplies, making products,…

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  • Early Retirement,  Frugality

    Compromise Elsewhere

    As a professional buyer I am always working to strike the balance between price and quality. Our personal life is no different and to no surprise Mrs. BFI and I do not always agree on when quality should trump cost. Much like the popular lunch meat and cheese company Boar’s Head’s slogan, we don’t always agree on when to ‘Compromise Elsewhere’. Recently we have been on a quest to frugalize our spending and reduce costs. To give you an idea of how serious we have been, we even gave up our beloved Netflix as part of this process. So when Mrs. BFI said she wanted to board our pup for…

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  • Uncategorized

    Frugality Does Not Mean Deferred Enjoyment

    As you can probably tell from our recent posts Mrs. BFI and I are currently reading/have read Meet The Frugalwoods’ book. Since in many ways I feel like we are the Frugalwoods 8 years later in life it has been very insightful in helping me face our financial independence journey from a big picture perspective. In particular, when Mrs. BFI wants something I often find myself saying “If you don’t buy that we will be $XX amount closer to financial independence.” I think we are still in the mind set that we want certain things, but we will put that off so we can get closer to independence, but where…

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