Frugal chicos journal

Where are you and where are you going?
Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

In the last graph with the 3.5% SWR, I believe starting from December is when we will be able to see the real expense vs SWR since we always calculated the SWR based on projected expenses in the The Basque Country.

ItsALongStory
Posts: 30
Joined: Sun Jan 13, 2019 9:50 am

Re: Frugal chicos journal

Post by ItsALongStory »

Super impressive to see how dedicated you have both (all 3??) been to this journey and are making your dreams a reality. We are in a bit of a similar situation whereby we could use a house (not totally rent free though) that my parents own. It was very recently renovated and could be a great spot for us if my wife would agree with the location.

Will keep following here to see how the job goes and what the outcome is on the condo.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

@ItsALongStory

Thanks, this journal and the book where we keep all the info of our monthly meetings are one of my favourite things to do. Yes, we are three: Me, my wife and our 5 month baby :)

It would be great if you can use your parents condo for some time while you get settle into your next chapter in life.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

Today has been the first day that I have been alone in like...6 months!!

It is kind of funny, I didn't really do anything but tracking our NW, play Fifa, play the guitar, cook and clean the house...and I kind of feel a little guilty that I didn't do anything "productive". I can't imagine how people who retire early feel at the beginning of their retirements. My situation is more of a sabbatical time while I apply for jobs though. I know we have enough money to live well and kind of FIRE, but I still feel the pressure that I have to find a job.

I have been applying to every kind of jobs ( I am even doing the test for the Basque police force) and I find it quite hard since it seems I am overqualified for the job offer here. I have skimmed and simplified my resume. I feel life is kind of pushing me to be patient and chill a little. I still have the offer on the table to work with my friends as a tourist guide. I accepted the offer and I actually think it could be something pretty cool to do. I have also been investigating about the option of doing it by myself if my friends' offer doesn't really go through (like creating a website, buying a van, etc..)

These are just a bunch of thoughts and ideas, but I guess it can be a common situation for those who kind of retire early or take a sabbatical and still feel that pressure or feeling that they might need to find a "real job" in order to survive. Perhaps I just need to listen to Chica and stop looking for a traditional job and figure what I need to start my Tourism business.

Oh, on another note...we made an offer for the condo I talked about previously and it got accepted. 82K and needs like a 40K renovation. We consider a great opportunity to hack the housing situation. Very excited about it!!

classical_Liberal
Posts: 1235
Joined: Sun Mar 20, 2016 6:05 am

Re: Frugal chicos journal

Post by classical_Liberal »

Congrats on the condo!

Not that this is applicable to you, but I have always thought being a tour/tourist guide would be a fun gig, at least for awhile. The more variations of types of tours the longer I'd probably like it. Right now I interact with people when it's one of the worst times of their lives (being sick and in a hospital). I think It'd be a great experience to see the opposite side of human nature, when people are happy and excited to be on holiday.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

@Classical Liberal

Thanks!

We are actually designing tours for Chica's parents who are visiting us from the US and I think it could be pretty fun and profitable. It is true that people are much nicer when they are vacationing. I could see the difference when working in the hotel business in Chicago vs Las Vegas.

theanimal
Posts: 1358
Joined: Fri Jan 25, 2013 10:05 pm
Location: Gates of the Arctic
Contact:

Re: Frugal chicos journal

Post by theanimal »

classical_Liberal wrote:
Mon Jan 20, 2020 7:42 pm
Not that this is applicable to you, but I have always thought being a tour/tourist guide would be a fun gig, at least for awhile. The more variations of types of tours the longer I'd probably like it. Right now I interact with people when it's one of the worst times of their lives (being sick and in a hospital). I think It'd be a great experience to see the opposite side of human nature, when people are happy and excited to be on holiday.
If you pursue this, I'd recommend avoiding being a guide for tours that are part of some package. About half the people I led when I used to guide were part of a tour package from some travel agency or cruise line and you would have thought they were in a hospital based on how sick and tired they were/how much they complained. Those packages fill their schedules with one activity after another so after a few days they're just looking to get through their vacation that they just spent $15k+ on.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

@the Animal

I am more into private tours. Wealthy Americans, Brits, Australians, Canadians, HKs and Singaporeans would be the target for the most part. I saw a couple of potential competitors who are charging 400+ euros per tour. I will wait until March to see if I can work with my friends. If not, I will be their competitor (will refer them if I am too busy to take more clients :D )

By the way, it is an honor to have you commenting on my journal. Great admirer of your achievements up there in Alaska :D

classical_Liberal
Posts: 1235
Joined: Sun Mar 20, 2016 6:05 am

Re: Frugal chicos journal

Post by classical_Liberal »

theanimal wrote:
Wed Jan 22, 2020 1:33 pm
Those packages fill their schedules with one activity after another so after a few days they're just looking to get through their vacation that they just spent $15k+ on.
At least some people know how to ruin the best of times, just like some people know how to make the best in the worst. :lol:

theanimal
Posts: 1358
Joined: Fri Jan 25, 2013 10:05 pm
Location: Gates of the Arctic
Contact:

Re: Frugal chicos journal

Post by theanimal »

That sounds like a good setup. The smaller groups were always pleasant. I once had a very nice group of women from SIngapore on a multi day trip. We talked about Lee Kuan Yew and they said they wanted to send me a book later on. I didn't hear anything for a while but a couple months later I received not 1 but 4! books on Singapore and Lee Kuan Yew. It's probably only about 10-20% of guests that are like that but those kinds of interactions made it worth it.

And thank you. You're too kind. I look forward to reading more of Chica and your adventures en España.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

We finally got some time to do our January meeting! All the info is based on what we had as of February 4th

JANUARY INCOME –$8,992
Chico’s Salary – $1,669
Chica’s Salary – $10,461.98 (We subtracted a 30% and kept it aside in a savings account for future taxes. She gets paid as a freelance in gross since 2020)

JANUARY EXPENSES – $1,600
Rent: $0
Gas (Car): $0 - 136.44 - We did a ton of road trips with Chica's parents.
Groceries: $277.36 - They were a little higher since we hosted few more lunches/dinners than usual
Cellphones: $16.63 - Chica's international plan with Lebara
Internet & Chico's phone: $46.53
Misc./Entertainment: $786. It includes the following:
- $157 translating documents for Chica's EU residency.
- $117 Car Battery
- $67 Car Tensor Belt
- $190 Athletic Bilbao tickets for soccer game we went with Chica's parents
Cash Withdrawals: $250

We saved 82.20% of our income. It is crazy we feel we spent a lot and lived a pretty lavish life this last month and we still managed to spend so little.

CURRENT ASSETS: $452,767.92 ($10,006.37 increase from last month)
Cash savings: $107,003 - 80K are in a Savings account with a 1.81% APY.
Investments: $275,777.34 - We finally transferred 70K from our savings account.
Chica’s 401K: $69,987 - It will be rolled into IRA to our Betterment account.

ACHIEVEMENTS/HAPPENINGS THIS MONTH:
- Chica's parents were visiting these last 5 weeks and we all had a blast. They loved it very much and are already planning another long trip for September.
- Chica worked her first month as a freelancer. we are setting 30% of her earnings into a savings account to pay taxes. She gets paid in gross
- We transferred $70,000 from our savings account to our investments account. Luckily we did it during the coronavirus selloff.
- We are still waiting on the condo paperwork to close the buying.
- Still waiting on Chica's residency paperwork approval.
- Mini Chica is already eating solid foods and she can almost sit up!
- I screwed up the one year no clothing purchase challenge. I bought a second hand North Face parka for $65. Great deal though :lol: - I will start the challenge from today...

GOALS:
- Develop the tour guide business idea.
- Continuing having a great time and saving a ton of money.
Last edited by Frugalchicos on Thu Feb 13, 2020 2:46 am, edited 1 time in total.

Frugalchicos
Posts: 349
Joined: Wed Apr 19, 2017 9:23 pm
Contact:

Re: Frugal chicos journal

Post by Frugalchicos »

Some cool pictures of places around my town:
Sopelana
Image
Zumaia's Flysch
Image
Somorrostro
Image
Laguardia
Image
Gorbea
Image
Biarritz
Image
Image

Post Reply