Blog Posts
At the end of last month, we celebrated my birthday. This day was a simple day that wasn't much different than any other day. I went to work and my wife went to her clinical shift. When we got home, we got ready and went out to eat. I chose a Hibachi grill and we had a great time connecting and recharging. This was my birthday. It was perfect and I didn't need anything else.
What do all of those things listed above have in common? In my opinion, the are conveniences of living in the modern world. Everything comes so easily to us these days. I can go to a mall and shop at 30 different stores (if I want to). I can get in my car and drive wherever I want. I can go to the grocery store and stock up for a weeks worth of meals. I have a refrigerator, which allows me to keep food cool. These modern conveniences have made our lives so easy. There is very little sacrifice when it comes to these things.
Earlier this summer, I was feeling frustrated that our savings account wasn’t growing as fast as I had hoped. Don’t get me wrong, it was growing a couple thousand dollars a month, but I wasn’t content in that. I wanted to be financially free today. This mindset can be very dangerous, because it can lead to people going out and making risky decisions.
One of the best ways to build wealth and reach the financial summit is to have a high savings rate. As I detailed in an earlier article, our savings rate has continued to increase since last June. So, I decided to do a monthly article on our savings rate and explain what caused the increase or decrease in the rate. Our goal prior to purchasing a house was 50%, but now a decent chunk of our income will be going towards the mortgage payment.
So, last month I was celebrating the fact that we are debt free! We are no longer debt free. We made the decision to purchase a house that we fell in love with and we are very happy with our purchase.
