The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part II

Does getting out of debt, saving more, or building net worth seem hopeless? Fear not. You can make lots of mistakes, start late, and still create financial independence.

boy swimming never give up--www.thethreeyearexperiment.com
Never give up!

Part I of this post details the beginning of Mr. ThreeYear’s and my financial story. Continue reading “The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part II”

How Do I Get Ahead If I’m Not a Mega Saver or Super Frugal? The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part I

Ever wonder how you can build financial independence if you’re not a super saver, maybe spend a little too much going out to eat, or like to go on vacation?

grumpy Average Joe--www.thethreeyearexperiment.com
Just a slightly-grumpy Average Joe at the lake

This is the story of how two Average Joes (or, one average Joe and one average Jane) have created financial security without being big savers, super frugal, or mega income earners (and still go out to eat and take vacations). Continue reading “How Do I Get Ahead If I’m Not a Mega Saver or Super Frugal? The Story of How Two Average Joes Got Out of Debt and Got on the Road to Financial Independence: Part I”

2017 Goals

Since it’s February 15th, I thought it was a good time to start reflecting on my 2017 goals. (Just kidding, I’m just a little slow in posting these).  So, what are my goals for 2017? This is Year One of the Three Year Experiment, so I feel compelled to get them right.

my 2017 goal sheet--www.thethreeyearexperiment.com
My 2017 Goal Sheet

My Goal Sheet

I filled out my goal sheet several weeks before the New Year. I’m somewhat of a goal nut, Continue reading “2017 Goals”

The i401K: Your Best Friend as An Independent Contractor

The i401k (also known as the Individual 401K or Solo 401K) is the 401K plan for Independent Contractors. Just as a traditional 401K offers myriad benefits for employees like tax deferred retirement savings and the benefit of lowering your tax bill, the i401K plan was set up to offer the same benefits for independent contractors.

desk area--www.thethreeyearexperiment.com
Where the independent contractory-stuff happens

Tax Savings for Independent Contractors

Since I’m an independent contractor, the i401K allows me to contribute up to $54,000* a year, tax free, for retirement. Continue reading “The i401K: Your Best Friend as An Independent Contractor”

When to Take a New Gig

Last week, I was offered a new gig as a part-time ESOL Teacher. This gig will allow me to work in two schools for a total of about 30 hours maximum per week. But is it a good idea? Does it help us with our three year goals?

new gig travel to Montreal--www.thethreeyearexperiment.com
Will the new gig help us to reach our goal of moving abroad (like to Montreal!)?

A New Gig Helps Me Mind the Gap

Personal finance bloggers talk all the time about the ways to increase your net worth—spend less or make more. Continue reading “When to Take a New Gig”

A Year of Good Habits: Make Your Bed Every Day!

What does making your bed have to do with your financial health? Good question!

Organized bedroom a year of good habits--www.thethreeyearexperiment.com
Organized, bed made, and ready for the day.

Habits are important. Good habits are small behaviors that seem so trivial, yet they can reap profound benefits in your life. Take this blog, for example. I couldn’t find any time during the day to write, so I told myself I would get up each day a little earlier and write for the first half hour or hour. That behavior, multiplied by many days, has created blog posts and content. Continue reading “A Year of Good Habits: Make Your Bed Every Day!”

Let’s Move to: Bangkok!

Golden buddhas temple Thailand---www.thethreeyearexperiment.com
Golden buddhas inside a temple

Yesterday my husband sent me a link to this school. Last February, almost a year ago, we went on an incredible, two-week anniversary vacation trip to Asia. I’ll highlight how we did that in a future post. We started our stay in Bangkok and my husband loved it. I mean, really loved it. Continue reading “Let’s Move to: Bangkok!”

YNAB Review

 

Easter dressed uo--www.thethreeyearexperiment.com
Will we budget better if we’re dressed up?!! (Disclaimer: we hardly ever dress like this).

**This year is A Year of Good Habits. Each month, I’ll focus on developing or strengthening one financial habit to better automate that behavior so we can double our net worth in three years and become location independent. In January, I’m focusing on setting and sticking to a budget as the goal. To do that, I started using a new budgeting software Continue reading “YNAB Review”

A Year of Good Habits: Let’s Get Started

Dahlia flower steady efforts good habits-- thethreeyearexperiment.com
Steady efforts over time produce beautiful results.

One of the books that has had the biggest impact on how I think is Charles Duhigg’s The Power of Habit: Why We Do What We Do In Life and Business. Using emerging findings from the field of neuroscience, Duhigg explains how habits, good and bad, are formed.  Continue reading “A Year of Good Habits: Let’s Get Started”

January Net Worth Update

January net worth increase -- thethreeyearexperiment.com
Our net worth increase since 2011

Our family’s dream is to move internationally in three years. In order to do that, we’ve set a goal of doubling our net worth by December, 2019. While that amount of money won’t replace our yearly expenses using the 4% rule (yet!—we’re slowly bringing down our spending),  it will give us enough financial security to leave Continue reading “January Net Worth Update”