I was surprised when I heard Mr. Money Mustache mention saving 75% of my income means I only need to work for 7 years. This was on Episode 96 of the You Need A Budget podcast. This tripped me out. We just met with a financial planner. When I think about working for the next 30 years at a mandatory job and consider half that time could be spent volunteering or giving my time exactly where I want to- that is amazing.
I don’t see other people with Mr. Money Mustache’s attitude twists money- angry, but in a positive and hopeful way. So much of the attitude around money seems to focus on how people are stupid for not listening or following instructions.
Mr. Money Mustache’s attitude about money and saving is fiercely angry, but in a positive and hopeful way.
I think that is why Dave Ramsey’s snowball analogy is so striking: pay off the small debt first, then roll (snowball) those now free funds into the next debt. There is this idea of you can do it. You can save, start small and watch it.
Dave Ramsey’s philosophy seems to say ‘you can do it. You can save, start small and watch it’.
Good things start happening when we take responsibility for our own future, set reasonable expectations and continue to check how we are accomplishing our goals.
I have a friend that really likes MMM. He says the combo of him and Dave Ramsey are a pretty powerful. (I personally follow DR pretty closely.) I agree that taking responsibility and having a plan are big deals with money (and life in general!). Choose where you want to go and do it!