Freedom through Frugality: Sabaka's Journal

Where are you and where are you going?
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Re: Freedom through Frugality: Sabaka's Journal

Post by Sabaka » Mon Jul 03, 2017 7:26 am

frihet wrote:
Sun Jul 02, 2017 3:36 am


I've been wondering that myself. The highs and lows over the recent period have been quite scary, and I'm not even invested yet! However, I believe that the value of the good cryptocurrencies will rise over the long term, and therefore I'm going to stick to the principle of dollar-cost averaging and hope for the best!

Gold certainly has a more established and stable value than any cryptocurrency, so you might have the right idea there.

Which ones do you hold? Do you buy through

I hold Bitcoin, ethereum, ethereum classic and litecoin myself.

Still waiting to get verified with Kraken! The FAQs state that the waiting time for verification is 2-4 weeks due to a recent surge in applications. It's approaching the fourth week now so hopefully I'll be able to start trading soon. I'm verified with a smaller, U.K based exchange called Cryptomate. However, their individual coin mark up is huge so I think I'll just hold out for Kraken

Good selection of coins. Are you tempted at all by the multitude of other Alt-coins? I will be looking to invest in Bitcoin, Ethereum, Dash, and Ripple.

If you could impart any other advice, it'd be greatly appreciated! I'm just trying to learn as much as possible at the moment.

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Re: Freedom through Frugality: Sabaka's Journal

Post by frihet » Mon Jul 03, 2017 9:28 am

Not much advice to give. Just a lucky beginner myself :)

But a few smart people to follow on twitter are

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Re: Freedom through Frugality: Sabaka's Journal

Post by Sabaka » Thu Jul 13, 2017 4:28 pm

frihet wrote:
Mon Jul 03, 2017 9:28 am
Thanks, Frihet!

Hi everyone! Just a quick update.

My Kraken account has finally been verified and therefore I was able to begin my speculation!

With my 710 euros deposited into the Kraken account, I have bought:

- 2.08161 Ether
- 0.06459 Bitcoin
- 365.55982 Ripple
- 0.37150 Dash

This has left me 4.81 euros in change.

As of writing, the value of these coins combined is 677.85 euros, which converted to GBP is £596.95

Unfortunately, the cost of transferring the initial 710 euros into my Kraken account cost me £9.50! :o A ridiculous amount. I have now looked around for a better deal, and have signed up with a German bank called Fidor, which only charges a transaction cost of £2.49. Still, a considerable fee, so, therefore, my deposits will be limited to once-monthly, maybe once every two months.

With my speculative investments finally sorted, I could once again turn my attention towards my other investments. Overall, I contributed £685.27 into my two ISAs, with £131.73 going into my LISA and £553.54 going into my standard ISA. As usual, these investments were divided between my four choice index funds.

The total value of these accounts is at the time of writing ££7,031.62

Therefore, the combined worth of my speculative and my normal investments is £7628.57. I turn 20 in September, I think it would be overly bullish to hope for a total 'net worth' of £10k before then, but aim for the stars and all that.

Anyways, that's about it I suppose. Cheers!

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Re: Freedom through Frugality: Sabaka's Journal

Post by Noedig » Thu Jul 13, 2017 5:00 pm

Sam, I will join the chorus saying you are light years ahead of almost all in this forum - you have wised up so young and are off to a flying start. At 19! Kudos be thine. As parent of a kid about to go to uni and incur much debt, I totally concur that unless you really think you will have an absolute blast and enjoy the study and benefit from it afterwards - then best not to go. I anticipate however that you eventually tire of Costco and either enlist, or look into something else like a modern apprenticeship, or find something with a bit of a career path.

A popular route for saving you may wish to consider is the High Yield Portfolio route - described quite well here ... avers.aspx

Re: Kraken. While I understand currency is just a token, and money is a dilutable token at the whim of whatever Central Bank, and that crytocurrencies are tokens that can't be diluted - what with all that I still just can't summon up the suspension of disbelief required to speculate in them (I will not call it "invest"). Also with Kraken you cannot spend the currency, it is not a bank account. That said, I look forward to your tales of triumph so that I can kick my own ass round the block in self-recrimination. Might take a while though.

You seem firmly on track, good luck to you.

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Re: Freedom through Frugality: Sabaka's Journal

Post by Sabaka » Thu Jul 27, 2017 4:07 am

Noedig wrote:
Thu Jul 13, 2017 5:00 pm
Thank you for your words of encouragement Noedig. I am wary, however, of presenting a version of myself in this forum that displays too little of my mistakes (and therefore indications of my flaws). My journey to ERE and FI is one of mistakes, of trial and error. An example of this would be my investment history. When I turned 18 my parents gave me £500 as a present, and I immediately invested this whole sum into one company (BAE.) Now regardless of the fact that I eventually sold off this investment for a decent profit, I look back at how foolish an investment it was. I still have roughly 1.4k invested in these types of foolish investments (Whether these will eventually yield a profit, time will tell :? :lol:)

As for your comments regarding cryptocurrency, I completetly agree! In fact, in all my documents I am careful to distinguish between my normal 'investments' (i.e: stocks and shares, etc) and my 'speculations' (cryptocurrency). I cannot help but be excited about the sector, however, and I feel it would be futile to try and supress my speculative instincts (which I believe all people have to a degree). Alltogether, better cryptocurrencies than gambling is my overall thought.

Good luck with your child heading off to uni. Not long now! In terms of debt, it is about the best sort you can have. Everyone I know who has gone to uni loves it, and a good degree opens up so many opportunites. Good luck on your own journey also!

July 2017 Summary

A little early, however I go on holiday in a couple of days, so access to my computer will be gone for a couple of weeks.


Name - Cost - Date

Holiday essentials - 79.02 - 1/7/17
Holiday essentials - 41.57 - 7/7/17
Food - 19.57 - 7/7/17
Misc - 2.49 - 13/7/17
Food - 25.19 - 16/7/17

Total (£) - 167.84

Overall, a good month. I have termed what I spent on summer clothes and spending money as 'holiday essentials'. Whether they are actually 'essential' could be deemed to be a matter of subjective opinion ;) I have managed to not spend any money on books so far this month, however I will be buying some for holiday, but I shall include them in the ledger for August. Food costs were okay. £25.19p was too much, however I love dark chocolate and spotted a 100% cacoa type on sale, so I thought why not :lol:


Overall, I invested £1113.68p into my various ISAs this month. Of this, £334 was invested into my LISA, and £779.68p was invested into my standard ISA. This brings the total value of my ISAs to (as of writing) £7480.06


As outlined in an earlier post, this month I made my inital investment into cryptocurrencies. The total worth of these coins is (as of writing) 615.28 euros, which converted into GBP is £548.82. Down roughly £50 in half a month! The nature of the sector, I'm afraid. I also currently have £101.23 sitting in my Fidor bank account, waiting to be invested in cryptocurrencies. The total value of my speculative investment is therefore £650.05

Alltogether, the total value of my normal and my speculative investments is currently £8130.11. The prospect of reaching 10k in investments is a goal that actually quite excites me. I do not believe I will reach it before my birthday in September, but it should not take much longer beyond that! :)

Focuses for August

I am on holiday! Luckily with family, and therefore not a burden on my own pocket! My goals will be to sleep through the night (rather than get up for work), eat lots of good food and read a ton of books :D . Not to be tempted too much by holiday souveniers, and to come back with good change from the 70 euros I am taking. The timing is perfect. Work had become incredibly dishearting, and I had begun to feel down because of it. This should help lift the spirits. Beyond my holiday, I feel some serious thinking is required about my future. This can wait however!

Thank you all for reading, and see you soon!

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Re: Freedom through Frugality: Sabaka's Journal

Post by Sabaka » Sat Aug 26, 2017 2:12 pm

Hiya! Again, this post shall be a couple days short off the end of the month. These entries tend to take a little while and so I therefore coincide the writing of them with my days off.

August 2017 Summary


Name - Cost - Date

Books - 11.22 - 1/8/17
Headphone cable - 10.98 - 7/8/17
Food - 14.38 - 7/8/17
Stationary - 43.27 - 15/8/17
Medicine - 4 - 16/8/17
Food - 10.7 - 22/8/17
Birthday Present - 19.68 - 22/8/17

Total (£) - 114.23

Overall, a fairly okay month. Positives are that I managed to spend just 10 euros on holiday, and not be tempted by the wealth of shopping opportunities available in Florence. It was very enjoyable holiday actually, Florence is a beautiful city, and the food was fantastic! However, that aside, some disappointing expenditures this month. The prime example being the £10.98 spent on the replacement headphone cable. I listen to music, podcasts, etc all the time, so when my headphone cable broke I panicked and made an impulse purchase. Looking back, I could have at least attempted fixing the original cable myself, or failing that bought a replacement though Ebay for, no doubt, a much cheaper cost. Live and learn. Another slightly disappointing expenditure was the amount spent on (necessary, I expand why in my focuses for September section below) stationary. The bulk of this comes from a new calculator for £30. I could have looked out a second hand deal, again, I'll have to learn from this.

More positive is the amount spent on food. I once again experimented with vegan meals, and managed to prepare 10 meals for £10.70!

To conclude, as stated above, an okay month. I believe improving on my ERE/Frugal mindset is a short term imperative. I am quite lucky that due to a lack of any substantial bills I'm afforded a fair amount of leniency in the amount I can spend on unnecessary purchases whilst still maintaining a high savings rate. If were in a position where I had to move out and pay these standard bills, I would fall quite abit short of that golden 75% savings rate. Lucky that I'm nowhere near to moving out then! :lol: .


A total contribution of £336.84p into my various ISAs this month. Of this, £334.51 was invested into my LISA, and £2.33 (big spender ;) :lol: ) into my standard ISA. The £2.33 is just to cover broker fees and the like. The current worth of my ISAs combined now stands at (as of writing) £7884.10p


I contributed a total of £150.19 into my various cryptocurrencies. The sector also experienced something of a bounce, resulting in the total value of my cryptocurrency portfolio being (as of writing) 1185.41 euros. This converted into GBP is: £1095.

Altogether, the total value of my normal and speculative investments combined currently stands at £8979.10p.

I also have been stockpiling cash this month in preparation for a large planned expenditure in September. The total value of this cash amount is: £572.86 . I did not conclude this in my total savings as, well, I won't have it soon :lol: . Quite exciting that if I had instead invested this amount I would have reached roughly £9.5k in savings, making it almost certain (bar market collapses in either the crypto or standard financial sectors) that I would have been able to reach £10k in savings before my 20th birthday in mid-Sept! The powers of ERE.

Focuses for September

I have decided on my next life step. I have chosen to study towards a Financial Advisory Diploma. It is a distance learning course, meaning that I will be able to study according to my own schedule, which suits me perfectly. It will cost £895 :o . A large initial outlay, but hopefully one that will pay off in due time. You know what they say, speculate to accumulate ;) I will continue working part-time in my hated job over the 12 months of the course, meaning that whilst the amount I am able to save will be reduced, at least I will be able to save something and not eat into any of the savings (The stationary costs this month are for the required equipment to study this course).

My reasons for this step? I have decided that the military was not for me. I cannot exactly pinpoint the reasons why. They are clearer in my own mind, but any attempt to set them out in this entry would inevitably leave both me and the reader very confused, so I will not bother :lol: I have chosen to study towards a diploma in finance as it is a subject I have a genuine interest in, the career prospects are decent and, well, I need to do something. I cannot allow myself any further period of doing nothing, it's not good for me in any way.

Anyways, that's it I suppose. Thank you for sticking with me the last few months, and especially for sticking with me through this long, winding journal entry. I am excited, whilst apprehensive for the future, but with ERE (the mindset and the community) I believe I have the best tools going forward. Cheers!

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Re: Freedom through Frugality: Sabaka's Journal

Post by Jason » Sun Aug 27, 2017 7:02 am

Takes a lot of courage to change directions. Good luck. Out of respect, I won't speculate on why you are leaving the military but I would think it takes courage to join in the first place, so you should be alright.

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