Hi, my name is Chad and thanks for stopping by Financially Balanced, a personal finance blog designed around finding a healthy balance between life and money in the pursuit of achieving financial independence.
In 2016 my wife and I finally paid off what was once slightly over $105,000 in student loan debt. Unlike many other stories you may read, we didn’t demolish our debt in record time or anything like that. In fact, it took us 7 years and 10 months to get to that final payment.
During that time, however, we were simultaneously purchasing our first home, creating and building an emergency fund, saving for retirement, doing a good bit of travelling, and welcoming a little baby boy into our family in 2015.
The key to it all has simply been living below our means and finding the right financial balance between all of the things we want to do and all of the things we need to do.
With all of our debt paid with the exception of our mortgage we are now on the fast track to achieving financial independence by continuing to live below our means, and investing heavily for our future.
Why I started Financially Balanced:
After paying off our student loans we found ourselves with a sizable amount of extra money every month, and no idea on the best route for investing it. I already knew a bit about retirement accounts and that sort of thing, but was lost when it came to investment strategies and choosing index and/or mutual funds. I began reading articles and books on personal finance and stumbled upon the personal finance blog community.
After reading several personal finance blogs, I realized that we had already been doing most of the things necessary to set ourselves up for financial independence. We had already established our emergency fund, were actively contributing to 401(k) plans and IRAs, and had stayed away from consumer debt.
Many of the stories I read, however involved people who either went from living check to check or in serious debt to pursuing a life of financial freedom by making some pretty radical lifestyle changes.
While our story isn’t quite so drastic, I wanted to share a different viewpoint and approach to personal finance – one centered more around the lifestyle choices we make, and how to find a healthy balance between living life and planning for the future., as well as finding the motivation and discipline to make it all happen.
It’s important to plan for retirement, and make good solid financial decisions for your future, but it is also equally as important to live for and enjoy today. I hope to share our financial journey here on this blog as I try to figure out what financial independence looks like for our family, as well as continuing to learn through your comments and thoughts as well.