First Post

I've been a money nut for as long as I can remember. In one way or another, I've always had an interest in making, saving, having, and spending money. One of my fondest childhood memories is getting up at 4:00 in the morning to bake muffins for my dad to take to work and sell. I made what seems like a small fortune selling homemade cinnamon rolls to elementary school teachers on diets. I sold candy to other kids at school while waiting for gym class to start. That's how I learned to make money at an early age.
I learned to save money from my father and mother. My wife rolls her eyes at some of the measures they used to take to save money, but I think of it as "normal." My mom used to make cracked wheat hot cereal for breakfast, which probably cost about $0.45 for a family of ten. My dad was in between jobs, and they had saved so much money that they were still able to make full, on-time house payments without missing a beat during that three-month period. My dad does his own auto maintenance, including oil changes and minor repairs, and has an on-call shade tree mechanic for the more complicated stuff. My parents still drive a 20-year old Toyota van, which is nearly as new-looking as the day they bought it. My folks taught me to be content with "enough," save my money, and live life like it's a marathon, not a sprint. That means saving money for the future.

I am one of those people who goes into near-hysterics if I think my bank account is in danger of being overdrawn. When I say I like having money, I mean that I like having enough of a safety cushion that an extra, unexpected bill won't wipe me out. I like having enough money to be spontaneous, do fun things, and have big dreams.

I also love spending money. Seems strange for one who comes off as a penny pincher, but I do love spending. I just prefer to get the most out of my spending money. For example, I don't buy new if I can get it used for a lower price, as long as it does what I need. I won't buy books new if I can get them on Amazon.com for a lower price. I refuse to buy a new car because I can get one for 25% less that is only a few years older and will last nearly as long if I take care of it. Be smart, I say, and spend your money wisely.

I'm currently reading a few books that are giving me all sorts of dreams of a great future:

• Smart Couples Finish Rich by David Bach
• Debt-Proofing Your Marriage by Mary Hunt
• More Wealth Without Risk by Charles Givens

The one that sparks my interest the most is More Wealth Without Risk. Charles Givens' book cost me $4.95 at a used book store just down the street. In about two hours, it saved me $300 on car insurance, without switching insurance carriers! That translates to $150 per hour, or a 6000% return on the money I spent on the book. I'll be talking a lot about MWWR in the future, as I go through it more thoroughly and concentrate on some strategies. This book will be extremely important to me, since I just got a job in the Navy that increases my taxable income by nearly $17,500 for 2005, and I want to minimize the bite of taxes on my newly-found money.

Hats off to all the other personal finance bloggers, to many of whom I will definitely link in my future posts. They gave me the idea, and now I'm going to run with it.

Next post:

• My current net worth
• Financial plan for 2005
• My current financial tools