The Saverdink’s Monthly Budget

I think we’re all a little guilty of financial voyeurism. Who isn’t a little curious about how much our friends, coworkers, family members and neighbors earn? Although the more tantalizing topic may be how they choose to spend their money…

Kayaks are expensive to buy, but free to enjoy!

When we’ve told friends of our early retirement plans, the first question is always, “But how can you afford to retire 20 years early??” Well, we’re DINKs. We’re both engineers with high earning potential. We live a moderate cost of living area. We’re careful how we spend our money, but we still have a lot of fun.

Are you one of those super frugal couples that never spends money?

Absolutely not. Extreme frugality, while admirable, is simply not something we’re interested in as means of getting to financial independence faster. Life is about the journey, not the destination. If we eliminated all luxuries during our journey, it wouldn’t be a very enjoyable one. Our budget reflects a lifestyle of strategic frugality as we work towards early retirement. We splurge on experiences and goods that matter most to us, while conscientiously refraining from spending habits that hold less value to us (sorry, no fancy restaurants or $300 purses). Our yearly vacation budget is ridiculous, but traveling is one of our top priorities and we do a lot of research to stretch those vacation dollars as far as possible.

So curious where our money goes each month?

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The First Step to Financial Independence: Know Your Net Worth

Financial independence is something that many of us secretly (or not so secretly!) long for, but have no idea where to even start. Unfortunately, unless you’re a trust fund baby, the recipient of a massive inheritance or a really lucky lottery winner, achieving financial independence at a young age may seem unachievable. It’s a daunting task, but by starting now and taking control of your financial future now, it will open up more options in the future. Most people can’t afford to retire at age 35, 45 or even 55, but with a little financial awareness and planning, many of us can shave a few years off our targeted retirement age and enter retirement with a strong financial picture.

Dreaming of Early Retirement while overlooking the Grand Canyon

So how does one get started on this mystical journey? The very first step to financial freedom is to analyze your current financial situation. Are you already in good shape? Buried in debt? It’s very difficult to make a realistic financial plan without knowing your starting point, so let’s get started!

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The Story of the Saverdinks

Greetings and welcome to our blog! As self-proclaimed DINKs (a Dual Income, No Kids couple) with a passion for saving money, we’ve affectionately nicknamed ourselves The Saverdinks. Only 10 years into our careers in engineering, we saved one million dollars across our various retirement, investment and savings accounts. We created this blog to give people a glimpse at our lifestyle and to foster discussions on personal finance topics. Our ultimate goal is to achieve financial independence and early retirement within the next 10 years.

I, Sarah Saverdink, as the primary finance aficionado, will be your host. So, hello!

As with any story, it’s always best to start at the beginning…  Read more