Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 05-01-2013, 02:11 PM   #41
gone traveling
 
Join Date: May 2012
Location: Fairfax, VA
Posts: 211
Quote:
Originally Posted by hsv_climber View Post
I've read it, but did you?
His budget line clearly states "we ignore Hawaiian air ticket because it was paid by the blog". How is it accounting in the budget?
He also did illegal activity with the lodging. If you are a contractor and your client provides you lodging instead of pay then you need to account that, report the proper value to IRS and then account for that in your budget.
Otherwise, the company that I work for, can just deliver food to my house, pay my mortgage and we can skip the money & the IRS.

Here it is from IRS website:



Taxable or Non-Taxable Income?
So, again, you should really do your homework. Can you provide a source where he says that the plane tickets were paid for by the blog? Can you show where he says he'll ignore that cost?

The Hawaii Project: Final Numbers and a Few Pictures | Mr. Money Mustache I'll help you out. Here is the post with the overall budget, and at the end of the post is all the other Hawaii posts. None of which say anything but "We bought discount airfare tickets".

As for the contractor "compensation"... you're really stretching.

To be clear to others: I'm more of a rabid defender of people spouting unfounded truths on the internet. If you can provide any actual posts that say he ignores large swaths of his budget, then I will be the first to agree with you. Other than that, you should really take his word for it. If I didn't have a mortgage, I'd be pretty darn close to $25k/yr too.
__________________

__________________
bo_knows is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 05-01-2013, 02:12 PM   #42
gone traveling
 
Join Date: May 2012
Location: Fairfax, VA
Posts: 211
Quote:
Originally Posted by daylatedollarshort View Post
Driving from Denver to Toronto round trip @ 30 mpg would cost about $400 in gas alone according to MapQuest, without any other side or day trips.

So they ride their bikes to and from the grocery store in winter in Colorado to save on gas? Really?
Yeah, really. They aren't the only people on the planet, or even this country, that do so either. It's not that hard to believe.
__________________

__________________
bo_knows is offline   Reply With Quote
Old 05-01-2013, 02:16 PM   #43
Recycles dryer sheets
 
Join Date: Sep 2012
Posts: 62
bo_knows, yes, it is all on this page:
Exposed! The MMM Family

- "MMM's hawaii flight accounted for as blog business."

- Clear to see from the numbers that Hawaiian lodging was not included. He did barter it, but he was supposed to report it to IRS (by law) and then show it as "expense" in his budget. It is not there and he never mentioned it on his blog that he reported it to the IRS.
__________________
hsv_climber is offline   Reply With Quote
Old 05-01-2013, 02:22 PM   #44
Recycles dryer sheets
 
Join Date: Oct 2011
Location: Upstate Ruralia
Posts: 283
Has anyone here read "Living Stingy" blog?

I believe the guy who wrote it quit in beginning of 2013 but I thought he made a TON of good points for the 5 years or so that he wrote his blog...

Actually I think you can get a lot of useful information from many different sources on early retirement, but MOST of them stress living below your means as a way of achieving the goal....so as long as one can learn something to further that goal, that would be a good thing, no?
__________________
Lcountz is offline   Reply With Quote
Old 05-01-2013, 02:23 PM   #45
Recycles dryer sheets
 
Join Date: Apr 2013
Location: Jacksonville
Posts: 222
I guess arguing about Money Bloggers on a forum could be considered a free activity to help LBYM
__________________
Arifriekinel is offline   Reply With Quote
Old 05-01-2013, 02:30 PM   #46
gone traveling
 
Join Date: May 2012
Location: Fairfax, VA
Posts: 211
Quote:
Originally Posted by hsv_climber View Post
bo_knows, yes, it is all on this page:
Exposed! The MMM Family

- "MMM's hawaii flight accounted for as blog business."

- Clear to see from the numbers that Hawaiian lodging was not included. He did barter it, but he was supposed to report it to IRS (by law) and then show it as "expense" in his budget. It is not there and he never mentioned it on his blog that he reported it to the IRS.
You're really stretching with the bartering for lodging thing. If I couch-surf on my brother's couch when I stay in Miami, do I report that to the IRS?

As for the flights, it looks like you're partially right. His 2 family members paid and he did not. He must be a total fraud. I wonder of Nords pays on his own dime for the Financial Blog conferences (serious question, I wonder if other bloggers count that as a personal expense or not).

While I think that is a bit of a shady oversight, I also see that his budget would be under $26k even if he included it. *shrug* Your insinuation that his total budget is impossible is a bit offensive to a lot of people that live it.
__________________
bo_knows is offline   Reply With Quote
Old 05-01-2013, 02:31 PM   #47
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
I'm glad that lady who wrote Possum Living isn't on the internet. She'd skin people like rabbits!
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 05-01-2013, 02:38 PM   #48
Moderator Emeritus
 
Join Date: May 2007
Posts: 11,038
I think that MMM's ideas regarding LBYM are pretty good (although his ideas are not exactly new). I don't really care about the rest. I especially don't get why people adulate his persona so much, it feels a bit cult-ish sometimes.
__________________
FIREd is online now   Reply With Quote
Old 05-01-2013, 02:42 PM   #49
Moderator
MichaelB's Avatar
 
Join Date: Jan 2008
Location: Rocky Inlets
Posts: 24,445
Quote:
Originally Posted by Sarah in SC View Post
I'm glad that lady who wrote Possum Living isn't on the internet. She'd skin people like rabbits!
Didn't she have a bunch of recipes?
__________________
MichaelB is offline   Reply With Quote
Old 05-01-2013, 02:42 PM   #50
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Quote:
Originally Posted by daylatedollarshort View Post
So they ride their bikes to and from the grocery store in winter in Colorado to save on gas? Really? Even the buffalo look pretty cold in this pic

Reader photo: Buffalo roam through Longmont-area snow storm - Longmont Times-Call
Actually, most of the time the climate here is fairly conducive to outdoor activities if you are not in the foothills/mountains (Longmont, Denver, etc. are not up there). If you can pick your days (as opposed to being forced to get it doen on the weekend), its even more doable since you can just skip doing errands on the coldest days. Dress appropriately and its not an issue. Since moving here I now own several pairs of insulated pants and other similar clothing so I can do my thing outdoors in the winter.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 05-01-2013, 02:46 PM   #51
Recycles dryer sheets
 
Join Date: Sep 2012
Posts: 62
Quote:
Originally Posted by bo_knows View Post
You're really stretching with the bartering for lodging thing. If I couch-surf on my brother's couch when I stay in Miami, do I report that to the IRS?
Have you met your brother because he contacted you online and offered lodging in exchange for your services?
(that what was MMM's arrangement, which he wrote about on his blog).

In your wild defense of MMM, you are missing what I am writing. I did not say that it impossible to live on $25K. My family budget was even lower last year (HI was mostly employer-subsidized).

What I am saying is that MMM is not living on that budget, while he claims that he does. Of course, ha ha one-liner post is the best explanation on that issue.
__________________
hsv_climber is offline   Reply With Quote
Old 05-01-2013, 02:47 PM   #52
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
brewer12345's Avatar
 
Join Date: Mar 2003
Posts: 16,391
Quote:
Originally Posted by MichaelB View Post
Didn't she have a bunch of recipes?
I believe she gave one for homemade rabbit sausage, as a matter of fact.
__________________
"There are three kinds of men. The one that learns by reading. The few who learn by observation. The rest have to pee on the electric fence for themselves."



- Will Rogers
brewer12345 is offline   Reply With Quote
Old 05-01-2013, 02:47 PM   #53
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,384
One thing I can't understand- by this time who hasn't read about every possible idea on how to live beneath his means? Most of these things have some cost in the day to day satisfaction of living life, albeit to some people the cost is often fairly low compared to the good feelings they get from doing it.

It would be hard for me to spend principle; it is just built in to my psyche. I would feel like a bleeding idiot if I spent enough money to make me nervous about my long term standard of living.

But I get zero thrill our of avoiding coffee shops, or any other category of spending that appeals to me. And no thrift shops or flea markets. If I want bedbugs, I'll take shiny new ones.

Ha
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is online now   Reply With Quote
Old 05-01-2013, 03:01 PM   #54
Moderator
Sarah in SC's Avatar
 
Join Date: Sep 2005
Location: Charleston, SC
Posts: 13,456
Quote:
Originally Posted by brewer12345 View Post
I believe she gave one for homemade rabbit sausage, as a matter of fact.
It is awesome that she later became a NASA scientist. I have both editions of the book.
__________________
“One day your life will flash before your eyes. Make sure it's worth watching.”
Gerard Arthur Way

Sarah in SC is offline   Reply With Quote
Old 05-01-2013, 03:02 PM   #55
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: Feb 2013
Posts: 5,326
Quote:
Originally Posted by hsv_climber View Post
What I am saying is that MMM is not living on that budget, while he claims that he does.
+1. In the budget exposed there is $172 for dentist visits. Really? We have 4 people going twice a year for cleaning and exam and we pay a lot more than that just for the deductibles with dental insurance. Then add in extra when somebody needs a filling, a filling replaced or has a chipped tooth. And that doesn't include one time big expenses like orthodontia, root canals and wisdom teeth that need to come out.
__________________
daylatedollarshort is offline   Reply With Quote
Old 05-01-2013, 03:09 PM   #56
Thinks s/he gets paid by the post
heeyy_joe's Avatar
 
Join Date: Nov 2012
Location: Madeira Beach Fl
Posts: 1,403
Quote:
Originally Posted by haha View Post
This thread reminds of something P.T. Barnum is supposed to have said. Anyone remember what it was?

Ha
What is more interesting is whom he was referring to when he said it.
__________________
_______________________________________________
"A man is a success if he gets up in the morning and goes to bed at night and in between does what he wants to do" --Bob Dylan.
heeyy_joe is offline   Reply With Quote
Old 05-01-2013, 03:17 PM   #57
Recycles dryer sheets
 
Join Date: Sep 2012
Posts: 62
What did P.T. Barnum say?
__________________
hsv_climber is offline   Reply With Quote
Old 05-01-2013, 03:21 PM   #58
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
haha's Avatar
 
Join Date: Apr 2003
Location: Hooverville
Posts: 22,384
Apparently all he said was there is a customer born every minute. He was a skilled showman, and an optimist.

There's a sucker born every minute - Wikipedia, the free encyclopedia
__________________
"As a general rule, the more dangerous or inappropriate a conversation, the more interesting it is."-Scott Adams
haha is online now   Reply With Quote
Old 05-01-2013, 03:23 PM   #59
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
 
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 10,032
Quote:
Originally Posted by haha View Post
This thread reminds of something P.T. Barnum is supposed to have said. Anyone remember what it was?

Ha
I believe it was "There is a sucker born every minute"
__________________
Moemg is offline   Reply With Quote
Old 05-01-2013, 03:25 PM   #60
Recycles dryer sheets
 
Join Date: Sep 2012
Posts: 62
Great quote.
__________________

__________________
hsv_climber is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


 

 
All times are GMT -6. The time now is 07:04 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.