“One of the 10 Best Personal Finance Blogs.”
Welcome to 20somethingfinance. I am the author, G.E. Miller. Long story short: I went from zero savings and significant debt after graduation, to saving over 85% of my income in just a few years. I am embracing every aspect of a financially responsible, engaged, environmentally-friendly, frugal lifestyle. And I’m chronicling my journey to financial independence on this site. Spoiler: utilizing the ideology and strategies that I write about on this site, I am now financially independent.
20somethingfinance is 13 years old and has become one of the most viewed personal finance blogs in the world. If you’re new here, you can find every post in the archives and subscribe to get all new posts, for free.
Also – don’t let the name of the blog scare you off. If you’re not in your 20’s, that’s OK. I no longer am either (but the blog is stuck with the name), and 50%+ of the readers here are over age 30 anyways. Learning and sharing knowledge of personal finance is ageless.
Now, on to the more detailed and dramatic story on why this blog exists…
The Best Years?
I have had some luck and privilege along the way, but nothing has come easy. I grew up in a lower middle class, one-income family. I studied hard and worked my way through public schools. I worked to help pay my way through public university.
I then graduated in the aftermath of the tech bubble popping, with a business B.A. from Michigan State University. After 300+ applications, I finally hit the workforce and started making just $30k per year while working 50-60+ hours a week at a job that did not require a college degree. Financially, I had no room to breathe – my cell phone, cable, internet, utility, car, fuel, rent, insurance, credit card, student loan, and food expenses were eating all of my income. I had zero savings to speak of and significant debts.
With no escape in sight, I started to question the all-work, no-play 40+ hours a week for 45 years standard, which for most people results in just keeping up with ridiculous consumer indulgences. The prospect of a lifetime of work for this? Unthinkable.
I had to do something. I realized that if I were going to have any shred of enjoyment in life, I needed to veer off the comfortable path. But my finances were holding me back. So what did I do? I started hacking them.
I got married and we had a cheap wedding – keeping the cost to under $2,500. I sold my heavily financed home and moved to take a higher income job. Instead of buying a bigger home, I bought a smaller one. I then sold our second car to get rid of the payments and started biking to work. I sold half of my personal belongings. I cut my phone bill in half and cut my cable bill. I became vegetarian, saved money on groceries, and stopped dining out almost entirely. I maxed out my 401K. I stopped trading and started investing. I stopped paying for my company’s traditional PPO health insurance and switched to an HDHP and HSA, so that they started paying me. I re-worked my wallet and started using credit cards to my advantage. I switched to products and services that saved me a lot of money vs. ones that only took money away. I was reversing the consumer accumulation life cycle. “Stuff” and material status stopped mattering to me entirely.
As a result, my income started increasing, while my expenses declined drastically. I eventually reached a personal savings rate over 85% of what I earned – 21 times the average U.S. savings rate of 4%. In short, my finance hacking was allowing me to save, in just two years, a higher percentage of income than most do cumulatively, OVER THEIR ENTIRE CAREER.
Was I Feeling Depressed and Deprived?
Quite the contrary. I felt excited, awake, driven, and determined. Instead of fear and resentment, I started feeling hopeful about the future and was motivated to do even more.
Financial independence became an inevitable path, not just a dream.
The downsides? There are none. I have easily adjusted. I have all the stuff I need and more. And I’ve become more creative, less materialistic, and much more satisfied with my life.
I have a comfortable home, a great wife, a dog, and a cat. My wife and I bike, backpack, travel, cook, entertain, drink good beverages, we’re in good health, and we have zero debt. We’re not missing out on a thing that matters.
Let’s take this personal finance journey together. I’ve learned a lot over the years that I want to share with you. And I want to learn from you as well.
If you get fired up about:
- financial independence
- hacking your spending to extremely low levels
- reducing wasteful consumption and minimizing your impact on the environment
- learning the basics of personal finance & sharing ideas with others
- being healthy, wealthy, well-rounded, generous, and fighting for and setting your own path in life
… then you are in the right place.
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You can also find every post in chronological order in the archives.
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