And now you expect to hear an amazing story about how we saved €100.000 in 3 years! Wrong. You are going to get a rant. Disappointed? Too bad, suck it up or leave 😉
How we saved €100.000 in 3 years!
Usually when I read this type of titles I suddenly feel a rash coming up, get spots all over my body and start to get foam in my mouth. Yes, it’s click-bait, yes it sound interesting, yes it draws you in, but it’s all a load of BS.
Did we actually save €100.000 in 3 years? Yes, we did from 2006-2008. We worked out butts off (up to 84 hour work weeks), lived like students and saved a ton of money. But you must have had an amazing income? Yes, of course we did! How on earth are would we have otherwise been able to stash such a ridiculous amount of money? We both have an MSc. degree in fields where you can earn good money. Couple that with working internationally regularly for up to 2 months at a time and “miracles” happen. When working abroad and everything is paid for (even beer!), and you cannot spend money as you are living on a construction site, saving goes fast.
Is that impressive? No, it isn’t! It would have been impressively stupid if we’d spent all that money. Saving large sums of money when you earn lots of money is not something to shout about. It’s something that should be normal. You’d be an idiot if you didn’t.
The same posts that have such “killer” titles as “how we saved €100.000 in 3 years!”, usually come with a list of “amazing” tips how you can too. Well here is a wake up call, most of you can’t. Even in your wildest dreams you are not going to make this, because you simply don’t earn enough. You can save all you want, clip coupons, go to the library, travel hack, buy everything with credit cards for point, etc. But if you (two?) don’t earn at least €50.000 net per year, you will never save that €100.000 in 3 years.
Based on this posts from a while back, to earn about €50.000 net as a household you need to be in the top 5% of all household incomes. Good luck with that!
That being said, should you save as much as you can and invest? Yes, always! Should you stay humble if you also can save €100.000 in 3 years, absolutely! Because you are a lucky son of a (fill in nasty word).
You know what’s impressive, saving a lot when you earn a little. I think one of the best examples in blogging land is that of Jason Fieber. He is a former car salesmen that went from having no money to having more than $370.000 in invested assets in about 6 years, and was able to FIRE on that money! That takes dedication, education, staying humble, staying frugal, drive and passion. Albeit I still hate the title of that book of his, something with lists of tips/steps…. I know, it does sell books, it just gives me rashes.
You know who is awesome? You, for making it to the end of this rant, which is not particularly inspirational or motivational. Sorry about that, but it’s the truth. However, you are indeed awesome, for reading this post. Also because you have found your way to the FIRE community. You probably already know how to save money and invest. That means you are able to create (extra) money and therefore time for you and your family.
It does not matter how much you saved or how long it took to get there. It does not mater how much you earn. It only matters that you took (or should take) action! So stop reading those stupid posts with lists about how to be better, smart, faster & richer. They generally only make you depressed and won’t help you along. So start looking at what really matters. Start with looking at yourself. And it you don’t like what you see, do something about it!
Getting off my soapbox now……