Comments on: Your Break Even Point is the Best Day of the Month. Do You Know When it Is?

By: UK Girl on FIRE

UK Girl on FIRE — Sun, 28 Apr 2019 23:25:06 +0000

The BEP is such a useful way to think about saving and spending – and it’s very motivating because it literally turns money into time. Great work!

By: Ty @ Get Rich Quick'ish

Ty @ Get Rich Quick'ish — Tue, 11 Apr 2017 22:59:00 +0000

In reply to Alex @ Fifty Week Vacation. Hey @disqus_4R69OL27vH:disqus! I appreciate the kind words. I love stumbling upon new ways to think about personal finance and am happy to think that you may have found on here!

By: Alex @ Fifty Week Vacation

Alex @ Fifty Week Vacation — Mon, 10 Apr 2017 04:27:00 +0000

Hi, Ty!
It’s always enjoyable to read a different perspective on something like your BEP that we don’t think about every day. Thanks for the spark and fire to keep things motivated!

By: Ty @ Get Rich Quick'ish

Ty @ Get Rich Quick'ish — Tue, 21 Feb 2017 16:13:00 +0000

In reply to Physician On FIRE.

Hey @physicianonfire:disqus – I had take home pay in mind when writing this. I’m payroll taxed, so unlike a self-employed person that has to do their own withholding, I don’t have to think too much about my taxes getting paid. Thanks for calling that out – it’s an important distinction

By: Physician On FIRE

Physician On FIRE — Tue, 21 Feb 2017 02:13:00 +0000

If you want to be on the Fast Track to FI, you want that break-even point to happen by the 15th. Of course, it depends on whether or not we’re counting take-home pay or gross pay. If we’re using the gross, the first 13 days of my month belong to the government. I need a few days for myself before I hit that desired Point Break.

Cheers!
-PoF

By: Ty @ Get Rich Quick'ish

Ty @ Get Rich Quick'ish — Tue, 07 Feb 2017 15:12:00 +0000

In reply to SomeRandomGuyOnline.

For sure – we’ve always got two levers to pull: income out spending. Making the both work in your favor is exactly how you Get Rich Quick’ish!

By: SomeRandomGuyOnline

SomeRandomGuyOnline — Tue, 07 Feb 2017 04:05:00 +0000

Great concept! I like how you point out that there’s three ways to change your break even point… the quickest way to do it is addressing income AND spending.

By: Ty @ Get Rich Quick'ish

Ty @ Get Rich Quick'ish — Fri, 03 Feb 2017 17:41:00 +0000

In reply to Matt @ Finance Yoself. Thanks, Matt! You nailed it. I'm such a visual person that having an actual date on my calendar is easy for me to understand and give me an obvious goal: pull that date is as much as possible by (1) reducing expenses and (2) earning more money

By: Matt @ Finance Yoself

Matt @ Finance Yoself — Fri, 03 Feb 2017 14:25:00 +0000

I like this, it’s like the “Saving 10% will give you one year of freedom for every 10 years of work” formula” except easier to comprehend day to day and feel the impact of your actions in the short term. It also gets at the idea that the less you need to work to meet your minimum financial needs the more options you have – it applies just as much to someone wanting to switch to a less stressful/time consuming job for more freedom now as it does someone working towards FI.

I think the more people realize that tracked, efficient spending CAN get you to FI but DEFINITELY gives you more options right now – combined with methods that make sense to them – the more likely they are to make real, lasting life decisions.

By: Ty @ Get Rich Quick'ish

Ty @ Get Rich Quick'ish — Thu, 02 Feb 2017 15:22:00 +0000

In reply to Lindsay @ Notorious D.E.B.T.. I saw that you just launched a ln email course - I hope that kills it for you!