Friday, August 19, 2016

Welcome New Readers!

I just wanted to say hello to those that have found my little site from Rockstar Finance and The Financial Diet. I'm honored to have been mentioned on those sites! Getting mentioned on Rockstar Finance has been a long time goal of mine. Getting mentioned on The Financial Diet was an extra bonus! Kinda like finding a twenty dollar bill in the pocket of an old jacket.

This blog documents my quest to buy a Tesla Model S using only passive income. Well, mostly passive income - I do plan on paying about $15,000 as a down payment. Details about how I will do that can be found here, or by clicking the Featured link at the top, then choosing How This Works.

Along the way, I write about personal finance topics. I don't have a rags-to-riches story to tell. I was not $50,000 in debt and clawed my way out in 14 months. My wife and I both have well-paying jobs and we live below our means most of the time. Boring, right?

Before I got married, I didn't really have any issues with money that required budgeting. Getting married and having a child changed all that. It wasn't so much that our expenses shot up (although, daycare for the first couple of years of our daughter's life was crazy expensive), but that I now had another person spending the household income. Before marriage, if I wanted to buy something, I just cut back my spending drastically in other areas. Or I went all-in and threw as much as I could towards paying off debt. (I got rid of some student loans in two years by throwing basically my entire paycheck at them for a while.) With another person in the house, I couldn't do that. Believe it or not, my wife actually has goals and ambitions of her own! My spending and savings had to accommodate those.

So I developed a budget to make sure we can allocate our money towards both of our goals. I have pretty much been a huge proponent of budgeting ever since. Here's my budget spreadsheet. I'm really proud of it, especially the time-based forecasting feature!

I spent ten years investing in real estate, both renting and flipping houses. My old real estate blog can be found here. These days, the only real estate investing I do is through hard money loans and buying shares of real estate investment trusts (REITs). It's much more hands-off than actively managing properties.

I publish a new post every Wednesday. Once a month, I post a summary of my progress towards my Tesla goal. I also include an overview of my net worth at that time, so I can watch that (hopefully) grow.

I hope you find something useful here. Feel free to leave comments and ask questions!


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