Stealthy and Wealthy
One year ago, my wife and I took a long, hard look at our finances and decided that it was time for a change. Don’t get me wrong. We were living a very happy life, making good money, living in a nice home and driving nice cars. It wasn’t anything close to a doomsday scenario. What triggered the fresh look at our lifestyle was the realization that while we had all of these things and were making good money, we were not putting ourselves in a place where we could enjoy financial freedom for the rest of our lives. The majority of our income was making its way into many things that we did not love, did not care about, or worst of all, did not know about.
We sat down together and decided that we would take a fresh look at every single way that we make, spend, save, invest and even think about our money. Over the next couple dozen blog posts, I will detail every step that we took to get our financial house in order and give ourselves the life that we decided that we want to live. We decided to call this life “stealthy and wealthy.” What that means to us is being thoughtful about our relationship with money and choosing to put our financial focus on the things that we truly love…not the things that we felt we should spend our time and money on, or the things that were expected of us by other people.
We expected to embark on this process by creating a stringent budget, cutting back on our lifestyle and maybe trying a couple new things. Most of what we knew about saving and making money was based on little tidbits of knowledge that we had picked up along the way. “If you drink one less Americano from Starbucks each morning, you will be a millionaire!” We both hated budgeting, talking about money, reading about money and cutting back on all of the things we loved. We started this journey with a shared sense of fear and dread, mixed with tiny doses of excitement and hope.
Where we ended up could not have been farther from that. We are now living a lifestyle where we spend well below our means, make a very healthy income outside of our jobs and have a hell of a lot of fun doing it. It’s a challenge that we have taken on together and we have both truly loved. And now, we want to share the good, the bad and the ugly of it with you.
What we learned
A few of the key highlights from our journey that I’ll detail in upcoming blog posts:
- Increasing our income by renting our home and cars.
- Selling on Amazon and eBay, driving Uber and testing out other unique ways of making money
- Aiming to reduce the number of items in our home by 2,000 over the course of the year
- Selling anything that we don’t use and holding off on buying anything that we didn’t see as essential
- Rethinking every expense in our lives and trying to find a better way
- Making money
- Saving money
- Growing money