To get to that financially free point in life at a young age, in a green way, there are some big "things to do" I would recommend, and lots of little "things to do".
The big umbrella "do" that I will blog about is to start living well below your means, or below your income level. Why? Because that's how you start saving money, and/or to pay off any loans you might have. I do realize some people have very low incomes, some have very high incomes, and many are somewhere in between. My goal is to give all of you ideas that will help you live on a smaller budget, so you save more!
One big "don't" is...don't buy a new or expensive car, ever. All cars lose their value, fast, so the money you spent buying it just disappears. That money could be used for an actual investment or to pay off debt. It could be a chunk of down payment for a home! Or tuition for a degree to get you to more rewarding work! Instead, buy a practical small reliable used car, preferably one that is 2-5 years old. Buy a gently used Honda Civic, or a Subaru, or a small hatchback, or some such. Small cars use less gas, which is green, and thrifty. Reliable cars are less likely to cost an arm and a leg in repairs. Hatchbacks and wagons can carry most thrift store/craigslist/yard sale finds. Buy what you can afford, without a car loan. Do you have $4000 saved up for a car purchase? Well, then buy an older car for $4000. Do you have $7000? Then expand your options to that amount, but not more. You don't have $4000? Then buy a $2000 Craigslist find or keep saving a little longer until you have a better car budget.
That's all for tonight.
Good night, future retirees!
Ann
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