Mr Money Mustache

atush

fred246 wrote: »

It would be interesting to know how many people read Mr Money Moustache and then really change. For example I was a regular cyclist when I read his blog so it just confirmed my opinion. How many petrol heads with a BMW on PCP would read his blog and then buy a bike?

Maybe they dont go that far (ie to a bike) but instead of replacing these fancy cars get more modest ones?

Anonymous101

I've been aware and really went head first into it perhaps around 12 months ago. I read all the MMM posts spread my wings to the MadFIentist and then onto ChooseFI. I've read several of the other blogs based in the US and enjoy the UK ones like firestarter, The Escape artist, quietly saving, sex health money death etc etc.

Having been through all that and perhaps had a degree of information overload I've backed off wanting to read too much more about it. I think its very important to know what is possible and then find your own level with things. As others have said in particular the forums on MMM can be extreme. Although I like to go at things somewhat aggressively I don't want to go as far as many on there do. Like many things life is about finding a balance.

cobson

Of course, not everyone gets the idea of FIRE.....

https://forums.moneysavingexpert.com/discussion/5853582/a-crashtrolls-progress-1996-2018#20

I seem to remember £25k being about the average in the Number thread.

Triumph13

I discovered MMM via this forum and now spend much more of my time on MMM than here. MSE has been brilliant for learning the ins and outs of the UK tax and pensions system. MMM was a real eye-opener about the psychology of money and the links between wealth, spending and happiness and helped me a lot with working out the point at which the utility of more money was less than the utility of not having to work any more.
There are indeed plenty of overly hardcore people on there who are taking frugality to extremes I wouldn't be happy with, but on the other hand there are some truly inspiring people having a great time on a fraction of what I spend.
Oh, and MMM did indeed inspire me to use a bike as my principle means of transport - leaving me significantly fitter and adding greatly to the longevity of our cars!

ams25

I look at the MMM forum from time to time, particularly the post FIRE section (to compare notes). The forum I find most interesting, probably due to its variety of topics, very active membership and less hard-core frugalism is https://www.bogleheads.org/index.php
even though I might be considered a sinner there as I have a shed load of active funds, as well as index funds and, probably correctly, would be told i would benefit from a simpler portfolio and upping the passive proportion. John Bogle being the founder of Vanguard of course, and bogleheads being the site for fans of Bogle, Vanguard and all things index funds. But the content is much broader. Unfortunately it is 95% US based so lots of talk about 401ks, Roths, and healthcare costs. But still a very valuable site.

A more UK orientated (and active) forum combining the best of MMM, MSE and bogleheads would be great. Don't think it exists though.

lpgm

If you're happy to drop your anonymity, the Financial Independence London and Financial Independence UK groups on Facebook are friendly and interesting places to hang out. Some of the UK bloggers mentioned in this thread are members too.

Anonymous101

lpgm wrote: »

If you're happy to drop your anonymity, the Financial Independence London and Financial Independence UK groups on Facebook are friendly and interesting places to hang out. Some of the UK bloggers mentioned in this thread are members too.

I'd second that. I'm not from London but still enjoy dropping in on those groups from time to time.

bostonerimus

OldMusicGuy wrote: »

I found the site enlightening and helpful when deciding if I should go early or not. However, it is US-based (cost of living a lot cheaper over there) and he does get a bit "religious" about things. So his "cycle everywhere" mantra I can't agree with, as I am a petrolhead and you will never see me on a bike again before I die.

.

The cost of living comparison between the UK and the US is tricky......I'm pretty sure it would be cheaper for me to live in the North East of England than in New England. One of the biggest budget items for US retirees is health insurance and costs for treatment....be glad of the NHS while you still have it. And tax is pretty high in the US once Federal, State and local real estate taxes are lumped in......I pay £4k annually in the equivalent of council tax.

atush

But yo live in a muti unit home and rent out the parts you dont live in. Means a higher tax in the main.

You are right about living costs though. US living costs esp groceries have grown a lot over the past decade. I used to find it cheaper but now I dont. And of coure you are correct about the costs of insurance/health care being a bit cost of living factor in the USA.

bostonerimus

atush wrote: »

But yo live in a muti unit home and rent out the parts you dont live in. Means a higher tax in the main.

.

That's true, but even if I split the "council tax out" I estimate I'm paying £2.7k a year on my unit which is valued at around £500k.