Frugal chicos journal - ERE in The Basque Country

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Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Time for a monthly update:

JULY INCOME –$11,593

JULY EXPENSES – $3,796

- Rent: $1,200
- Groceries: $378
- Cellphones: $0 - both chica and I are using our work phones.
- Electricity: $58.46 - used much more AC than what I would have liked to
- Internet: $95.83 - We will be calling the company to negotiate the price down
- Misc./Entertainment: $591 (includes $200 fees for flights. We had to rebook our flights to The Basque Country in August since they got canceled. Still waiting for our money back. Airlines suck lately. Spent $136 in mini's 3th Bday celebration inviting a ton of friends to a nice brunch at the beach)
- Day care: $1,473

CURRENT ASSETS: $839,016 ($40,711 increase from last month)
Cash savings: $10,854
Investments: $563,275
Chico’s 401K: $9,859
Chica's 401K: $30.028
HOUSE EQUITY: $225,00

We saved 67.25% of our income

Happenings this month:
- Chica got a big promotion!! 20K salary increase starting 8/1 and will become VP Director
- I will also get a good salary increase by the end of the year and I am being considered for a big promotion perhaps next year. Everything is still TBD though.
- I just started working in the biggest account of my company. So far it has been pretty stressful since I am also working in my old account. However, I think it will be a great opportunity and an amazing stepping stone for the next position which will be global manager.
- I turned 40 on July 9th. I feel pretty good and think I am in a good spot in life. I achieved much more than what I have ever imagined. I feel I have been successful in pretty much every aspect in life, can't complain.
- I ran a half marathon for my birthday celebration. I ran it on my own (not organized) with my brother in law, who is my running buddy. We run it in 2 hours and 3 minutes. I was totally unprepared for it but happy I did it.
- This month I cycled 94 miles and ran 28 miles. I will probably join a gym in October or so to keep the momentum and not lose fitness.
- I sold a bunch of stuff, my acoustic guitar ($75), the bike I found in the garbage ($140) and my skateboard ($40). Total profit: $255.
- I bought an electric guitar. I got a Squire Stratocaster made by Fender in perfect shape for $115. I also bought the PS4 game Rocksmith for $30. So far it has been amazing. The game/tool has been fantastic. I would say I learnt more in these last week than in the entire last year. The game keeps me motivated and has a good structure to take lessons, learn songs, practice solo with beats, arcade games, etc... good hopes here. My "dream" guitar now is a white Fender Strat Player MIM. I might buy it before we move to the Basque in 2 years if I keep playing and enjoy it.
- Pretty stoked to travel to The Basque Country to see my fam and see the condo. Hopefully flights are on time :)
- Construction/remodel of the condo is totally finished. No more money pit in there! - well, we have to furnish it now. We will do it slowly though. Just picking up furniture we like when we have spare cash to spend.

My new girlfriend:
Image[url=https://keyboardtester.co/keyboard-tester]
Last edited by Frugalchicos on Sun Sep 04, 2022 8:31 pm, edited 1 time in total.

2Birds1Stone
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Re: Frugal chicos journal - ERE in The Basque Country

Post by 2Birds1Stone »

Congrats on all of the success and progress at the Chico's house!

In my industry the Global Manager/Account Director role is the most coveted individual contributor role in most companies. Usually you work very hard when customer/employer needs you, but there are periods of downtime that almost feel like a vacation usually several weeks per quarter. The comp is also VERY good for an IC, typically in line with what a more Sr. Manager would earn with 1-2 layers of direct reports beneath them. Hope it works out for you! There's a reason those people typically stay in the role till they retire (usually early) or get very wealthy.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@2Birds1Stone

Thanks! Pretty excited about the opportunity. I honestly don’t think I will have a lot of down times. However, the pay would be pretty good.

It is kind of strange how you get excited about more work, responsibilities and recognition when at the same time I want to get out asap! Haha

ertyu
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Re: Frugal chicos journal - ERE in The Basque Country

Post by ertyu »

Frugalchicos wrote:
Tue Aug 02, 2022 6:08 pm

It is kind of strange how you get excited about more work, responsibilities and recognition when at the same time I want to get out asap! Haha
well that's the best of all possible worlds, isn't it. good in the beginning, good in the middle, and good in the end

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@ertyu

That’s a good way of looking at it. I can’t wait for the end though :)

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Monthly update:

This is not going to be a traditional update. I would like to talk more about actual feelings, plans and short term future. Net worth is still higher than what I ever imagined. We are good on our way to retire within 1 year and 10 months.

Alright, lets break this down in categories:

- YTD: Time flew, we traveled 3 times to The Basque Country, had a great vacation in the Caribbean, our condo is finally done, Chica got a crazy promotion and we celebrated our 10th year anniversary. We have invested about 60K in our investment account and about 15K in our 401Ks. I forecast we have another 33K to invest by the end of the year.

* Feelings / thoughts:
Our recent visit to The Basque Country probably got me thinking for a little bit. One day I was surfing and it felt amazing. However, I got the feeling that surfing like any other physical activity is finite and most of my dreams of retiring early revolve around sports and being active. My point is that I don't want to waste my time shoveling more money passed June 2024 and I want to start living asap!

* My father, brother in law and stress:
My father is a mess and has always been. Hard worker but not smart worker. He has always been a difficult person to be around and our relationship since my parents got divorced is minimal. During our last trip to The Basque Country, we went to his house for dinner and had to wait outside because he wasn't there yet. By the time he arrived, he was drunk... that was a big disappointment but mostly frustration for wasting my time and making me go through all that mental wear. I know he is not going to change and I will have to deal with his BS until the end of his days. However, he is the owner of his actions. This situation was kind of the last drop of all the stress accumulated over the last decade of being an emigrant, work under a lot of pressure and being a parent of a screaming 3 year old. I suffered an anxiety attack where I couldn't breath out of anger and frustration. I have been feeling pretty stressed lately and the least I need is dealing with somebody else's mess and issues.

Similar situation happened with my one of my brothers in law during our vacation in July. Without going too deep into his personal issues, alcoholism or maturity. I can say he blew up on me without any reason and basically left me with a very bad after taste after a nice week off. So basically, both vacations were partially ruined. I will try to avoid toxic people in the future as much as possible.

Work has also being crazy hectic lately not making it easy to feel less anxious or stressed. All this combined with parenting a crazy active 3 year old has been pretty difficult for me.

I made a list of things I need to change to feel less stressed:
- Learn how to say no
-Limit activities with certain in-law relatives
- Establish an exercise routine
- Plan weekends ahead
- Improve diet and eliminate unnecessary alcohol
- Meet friends more often
- Practice hobbies like reading and playing guitar

* Saving Plans for short term future and dreams:
I will try to enjoy the remaining of 2022 cycling for as long as I can. I will probably join a gym in the fall to keep running and work on my strength.
Next year will be our last full year in the US. i might only go once to The Basque Country to furnish the condo and leave it ready for our grand arrival in 2024.

- Savings plans:
We will probably buy all our furniture on January-Feb.
Next year we would also like to save enough for a car. We are thinking about a 10K used car. My current favorite models are Audi A3 sportback and BMW X3. Both from 2007-09 with about 60-70K miles.
I am saving on the side to buy a Fender Strat Player in white with maple fingerboard. I already have saved half of it and would love to buy it before we move if I keep playing and enjoy it
We are considering in saving one of our bonuses to buy a Mercedes Vito Marco Polo from late 90s or very early 2000s. Having a small kid, I think this would be an amazing vehicle for road trips around Europe. I would also love to go on surfing trips with friends or alone with it. Park in front of a beach, surf all day, rest inside the van, do some cooking/bbqing at night and sleep under the stars in front of the beach. All this sounds like the ultimate freedom to me.

Mini Chica will also start going to school in the fall of 2023 so that would liberate close to $1,700 that can go to any of the savings goals above.

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ertyu
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Re: Frugal chicos journal - ERE in The Basque Country

Post by ertyu »

Sucks that happened with your father. Agree with your assessment that he probably won't change.

About your list of things to be less stressed, something that struck me about it is that (with the exception of visit friends), it's mostly a list of things to do less of. My intuition here was that maybe, a list of things to do more of would be more helpful instead. Focus on things that recharge you and build you up. Good luck

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@ertyu

Thanks. Yea, I probably did the list in that way because it is probably easier for me to do less things or avoid certain situations than do more or new things. With a 3 year old and other chores I find it quite difficult to have a structured weekly routine. So far, I just play guitar when I can and usually bike during the weekends. Also, I’m not sure I evolved in this last decade living abroad, but I feel I became an introvert and enjoy doing things on my own like surfing, going for walks, reading, etc. However, I do miss sometimes some short of company I could share interests, share opinions, etc

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Monthly Update:

Decided I am going to switch the monthly updates to more life updates than financial. I noticed my thoughts and energy have been more focused into lifestyle than finances lately. Our finances are pretty much automated and have been making more money than planned. We don't make stupid decisions and live way below our means. Every "big" expense is very much thought out and always save in advance for it. Also, the market downturn doesn't help to make financial updates exciting.

There is no need to punish myself if I spend a little bit more than planned. In my opinion, the whole point of ERE is optimizing my life and make the most out of it in a responsible and enjoyable way. If I spend $40 in Chinese take out (which I very rarely do), it doesn't mean I am worst than yesterday or that my mentality has changed. ERE lifestyle gives me the ability to have options to do what I consider is the best at any given moment.

Financial updates:
Our NW keeps going down but it still is probably somewhere close to the 800K. Still much more money than what I would have ever imagined. We keep investing about 7K from our salaries plus 401Ks.

Life updates:
- Work has finally slowed down considerably. I am officially gone from my old account and just focused on my new account. I am driving some changes that will optimize the operations of the account. My director is very well aware that I want a decent bump on my salary. Counting on it by early next year. Also, we will have to start going back to the office twice a week starting next week. Not that bad.
- I joined a gym and I am enjoying getting back into it and doing some weight lifting. I need to design a plan now that the warming up process is getting to an end.
- I didn't ride my bike in the last 2 weeks. Chica was traveling last week and couldn't ride during the weekend. Weather is changing in Chicago and getting colder in the mornings. I would like to ride for another 3 more weeks if possible. Need to buy some long tights but didn't see any fairly priced tights on ebay or mercari. If not, I will wait until next year
- I have been playing the guitar almost every day and I am enjoying it a lot. I noticed I improved basically in every aspect thanks to Rocksmith and youtube. I have a Fender 3 month play online learning card. Planning in using it after next week (I have to go to the office the entire week for meetings with my client).
- The other day I went to Guitar Center to try out some guitars and was really impressed by a Fender Player Telecaster. I didn't play much with it, but it just felt right in my body and the neck was smooth as butter.
- I am saving $60/week to buy some toys. I would like to buy a used Fender Telecaster ($500) and maybe also a used Squier Classic Vibe Stratocaster ($250). I also want to buy a surfboard 7'2" ($350). I would like to have something smaller for when the waves are bigger and more powerful.
- The other day I realized I basically didn't have any hobbies in my 20s and 30s. I started to develop more interests in the last 2 years or so. Until then, I was just focused in studying masters, post-graduates, working super hard long hours and achieving our financial goals. Now, I am very happy with everything I have going on for myself. As I mentioned above, while I still want to achieve our financial goal, I am more focused on my mental and health well being practicing sports, learning guitar and reading. I am also starting to feel more comfortable spending money in those hobbies if needed/desired.
- I might not travel to the Basque Country next year. My sister is coming for a week in December and my mom will come for a month in July. I am thinking in saving my PTO for staycations, long weekends and maybe a trip to Alaska :)

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Shit has hit the fan. The bed bug issue persists and we are at a point where we have to leave. There couldn't be a worst time to move in Chicago. Right when the cold weather starts and inventory is at its lowest. We have checked 2 places today and they were just straight up shit holes. Rent prices are also astronomically high. The average I am seeing is $1,600-! $1,900 for a one bed in my area (we are currently paying $1,200)

I also feel we are somehow anchored to our area because of 4 reasons:
- Daycare and school next year: I wouldn't like to take mini away from all her little friends. She already has enough moving across the world in 18 months, learn to speak 2 new languages (Spanish and Basque), etc
- Friendships: We made friends in the are that are just walking distance and are a great social support for all of us.
- Convenience: Everything is walking distance from our current apartment. Transportation, parks, gym, groceries, daycare and friends.
- Work: I don't want to increase my commute significantly

I feel the living hack in Chicago is over and I am going to have to bite the bullet and pay a much higher price for a decent place. I am hoping to see a nearby 1 bed apartment for $1,365, if not, we might need to drop close to $2K.

I feel appalled and very tired of this city and the challenges that keeps throwing at us. Lets see if we find a place in the next few days. If not, I guess we have no choice but having the exterminators coming every month (which I don't really think it helps much to be honest)

ertyu
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Re: Frugal chicos journal - ERE in The Basque Country

Post by ertyu »

Could you stay at a hotel for a couple of weeks and bug-bomb the place and be rid of the bedbugs? As it is, if you move, there's a likelihood you'll bring them with you. I'm sure you guys have looked into options, but if at all possible, it seems like dealing with them and staying where you guys are is the less troublesome solution. I am talking out of my ass a bit, I haven't had bed bugs so I don't know to what extent they're like roaches in that once a building has them, you have them, and you can keep them down but you can't get rid of them in any meaningful way

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

@ertyu
The problem is that there is an infestation in the building. Even if we get rid of them in our apartment, chances are we will keep them coming from other people's apartments. Exterminators already came 5 times, I sprayed on my own, used different chemicals and it has not done much since we have suffering this plague for the last 9 months or so. I just think it is time to pick up and go. We are trying to work on a deal with the management company where they reimburse us the money we spent in furniture and the moving fee.

ertyu
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Re: Frugal chicos journal - ERE in The Basque Country

Post by ertyu »

Fingers crossed that you don't bring them with you, then. The situation just sucks. Too bad you guys have to give up such a great location.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by guitarplayer »

On the flip side, you could have owned the place (or the scenario could have happened in your condo in the Basque Country), in which case this would be a much more permanent problem!

But I fully sympathize, having to move at an inconvenient time when you have a few things set up is crap - I recently moved at an inconvenient time when I had a fully integrated life with most life activities optimized at my old place. The good thing is that you have plenty of resources and can even splash on a more expensive place short term to buy yourself time to find something more suitable.

Good luck!

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Seppia
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Seppia »

Money is a tool - you have money.
I don’t see it as a huge issue if you have to spend $X more (that you can easily afford) so that you have to get out of a shitty life situation.

I understand the ERE ethos and all, but you are both working IIRC and you have a kid.
Sometimes throwing money at the problem is a perfectly fine solution.

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Re: Frugal chicos journal - ERE in The Basque Country

Post by 2Birds1Stone »

Seppia wrote:
Sun Oct 16, 2022 2:57 am
Money is a tool - you have money.
I don’t see it as a huge issue if you have to spend $X more (that you can easily afford) so that you have to get out of a shitty life situation.

I understand the ERE ethos and all, but you are both working IIRC and you have a kid.
Sometimes throwing money at the problem is a perfectly fine solution.
This.

Not only are you both working, but already FI by most reasonable math.

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Thank you all for you messages.

@ertyu - thanks!
@guitarplayer - that would be a real nightmare. I would burn the building down! LOL
@seppia & 2b1S - money is not even the issue now. We are having trouble finding available apartments in the area and realtors willing to show them to us. I am "happy" paying $2K for a 1 bed with a fitness center and a pool. I am being quite aggressive emailing and texting realtors. I am confident we will sign a new lease this upcoming week (fingers crossed)

ertyu
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Re: Frugal chicos journal - ERE in The Basque Country

Post by ertyu »

hopefully you'll get something in the area you like

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Re: Frugal chicos journal - ERE in The Basque Country

Post by Western Red Cedar »

I just want to echo Seppia and 2B1S. Don't stress too much about the money. You'll likely only be in Chicago for another year or two, so the additional money for a nicer apartment in your desired location is just a drop in the bucket. Dealing with bedbugs is really stressful. I'm sure you'll find something in the next couple of weeks.

To go back to your viking metaphor - you've been quite successful with with a rickety old ship. Now is the time to upgrade and finish the mission ;)

Frugalchicos
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Re: Frugal chicos journal - ERE in The Basque Country

Post by Frugalchicos »

Thanks guys!

@WRC - loved the reminder of the viking metaphor and the old rickety ship.

Well, problem resolved. We just signed a lease for a very fancy 2 bed 1 bath in our area for $2,400 all included (exactly double of what we are paying right now). The building has amazing amenities like a full gym (great for the winter), a crazy roof deck with grills, fire pit, etc overseeing the lake Michigan, amazing lobby with a fireplace, chess room, convenience store, etc

I feel I am going from rags to riches. Oh well, mini will stop going to daycare in July which will save us $1,650 and the time we have left in Chicago will be much more enjoyable now.

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