Browse Month: September 2017

Dumb Financial Decisions: Selling My Potential Rental Property

Financial IndependenceAlmost twenty years ago, when I was single and in my mid-twenties, I purchased my first home after several years of renting.

It was not fancy.

It was a simple two bedroom townhouse, with a one car garage, and a postage stamp of a backyard.

I got a great deal on the place, as I was able to purchase it as a foreclosure for well under $50,000. I dumped my life savings (outside of my retirement accounts) into the purchase, so I did not have a mortgage, which was a huge benefit as I tried to rebuild my financial safety net.

After living in my townhouse for over four years, I decided to return to school full time to pursue a master’s degree in an effort to change careers.

And then I made a financial decision I thought was prudent at the time.

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The Financial Advantages of Blogging About Personal Finance

Early RetirementIf you’re reading this post expecting to learn how to make unimaginable riches on the Internet, my deepest apologies, but you are in the wrong place.

I have only been blogging for three months.

Retiring On My Terms has not generated one cent of income, while costing hundreds of hours of my time, in addition to expenses for web hosting.

And I still have no clue how to effectively use Pinterest, even though I have heard it can be an incredible social networking tool.

That said, the discipline required to think and write about our finances on a regular basis has already paid great dividends to the ROMT family. I’ll highlight a few of the ways our finances have improved as a result of the time I’ve spent blogging.

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Solar Energy Update: Another Bill Bites The Dust!

Solar PowerThe ROMT family is now over two months into our solar energy adventure, and the results continue to impress as we move down our path towards financial independence!

For the month of August, our electric bill dropped by 95% from last year! This followed a 91% reduction in our electric bill for July!

Part of the improvement in August was driven by the fact we used a lot less power this year compared to last year. It was much cooler in our area this August, so the central air had to work a lot less, and I’m hopeful our recent move to LED lightbulbs throughout the house is also paying early dividends.

All in, we used almost 30% fewer kilowatt hours of electricity this August relative to last August. Continue Reading