Soon to be mortgage free

Our Mortgage Will Be Gone In Four More Years

Gen Y Finance Guy Mortgage Snowball 28 Comments

We bought our house almost four years ago and we acquired it for ~50% less than the bank said we could afford to borrow. The bank approved us for a $750,000 loan but we ultimately borrowed $355,000 on a total purchase of $376,000 (47% of what we were approved to borrow). Anyone that has read my ten guidelines to rapid wealth building knows that as a rule of thumb, I recommend buying a house for 50% (or less) of what you are approved to borrow. In doing so, you set yourself up to be mortgage-free in five to seven years if you follow my mortgage snowball strategy. The GYFG household has just completed year three of our seven-year goal to be mortgage …

2018 Goals

My 2018 Goals

Gen Y Finance Guy Goal Setting 18 Comments

Where in the heck did 2017 go? Do you remember how slow time used to pass by when you were ten years old? I didn’t believe adults when they told me that time speeds up as you get older. As kids, we wish time would go faster and then the switch flips around high school graduation and we start wishing time would just slow down. Why do we perceive time differently as kids then we do as adults? I tend to believe that as a ten-year-old kid, a year feels longer because it makes up a much more significant percentage of our life. A year to a ten-year-old is 10% of that kid’s life. On the flip side, a year to …

November 2017 Report

November 2017 – Detailed Financial Report #35 – Net Worth $644,406 | Income $26,212

Gen Y Finance Guy Monthly Financial Reports 4 Comments

Last month, after 33 consecutive months of the same format of my Detailed Financial Reports, I decided to shake things up, starting with report #34 (October 2017 Financial Report). However, the introduction will still repeat from month to month, because 50% of my readers are new every month, and I want to offer them all the content in my initial intro. That said, I will still plan to modify the intro periodically when appropriate. If you’re a regular reader and only want to read the new content then feel free to just skip the intro (no harm, no foul). Intro Mission Statement: To Humanize Finance, Build Wealth, and Reach Financial Freedom. For those of you new around this corner of the …

Extreme Frugality vs. Relative Frugality

Extreme Frugality Is For The Birds

Gen Y Finance Guy Words To Live By 16 Comments

It’s no secret that this blog has nothing to do with extreme frugality. If anything, compared to my peer bloggers, I’m probably categorized as a spendthrift. I have even been accused of leading a rather lavish lifestyle, which I think is complete bollocks. Relative to my income I am “frugal” but that is not because I have crafted some master plan to live on as little money as possible. Instead, I have chosen to take the road less traveled to increase our household’s top line (income) to a point where saving 50% happens automatically, rather than obsessing over every little expense. I think that extreme frugality is for the birds! As I wrote in this post, there is a natural floor when it …