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Welcome to Budget Like a Sir! My name is Sir Budget and I’m honored to have you here on my blog and I’m glad that you’ve decided to tackle your finances.
I believe for the modern gentleman it is becoming increasingly more difficult to remain true to your values and stay ahead of the game. As a man, you ought to be in charge of every situation. This includes your finances as well.
My mission is to help you build a financial system that works and show you the road to wealth. On the way, you will gain a huge amount of knowledge about money, often referred to as financial literacy. This path will uncover how to create a budget which you can stick to. You will explore the messy details of investing and how to set up a more passive way than picking individual stocks. Finally, we will, as men always did, talk business. It’ll be a pleasure to share with you some of my experiences about freelancing, creating side hustles or starting your own business.
Right now, you’re probably still asking yourself if this blog is worth your attention. So I want this ‘start here’ to be a 5-step-process. You will see:
- Who I am.
- Why I started this blog.
- What this blog is actually about and what it is not.
- What special features does this blog offer?
- Where should you start reading?
Step 1: Get to know me
So who’s behind Budget Like a Sir? As I’ve mentioned before, my name is Sir Budget.
At day, I’m a young software developer from Germany who studies Computer Science and Media and I will soon start freelancing and evolve my business.
With that said, I will cover all topics a little bit broader and go less into details that are country specific. Many blogs write about the US or UK market. I can’t do that. Also my grammer will not be perfect, as I am not a native English speaker.
At night, I’m very interested in blogging (obvious) and in personal finance in general. There are many specific topics I’m interested in. How to make more money on my day job or find additional income streams like investing. I always want to improve my financial system. As a freelancer, I’m also curious how to increase my productivity to become more valuable and raise my hourly rate.
When I read a blog about money, I want to know what the financial background of the author is. So where did I learn the stuff that I know?
My parents didn’t teach me very much about money. Actually, I think this is what most families do. Everything I know about finances today, I’ve gained from podcasts, blogs and books. I want to give you a short overview of my key influencers.
This is not only background information for you but also a big thank you to all of these kind people.
I want to start with Ramit Sethi and his book I Will Teach You To Be Rich. Don’t get fooled by the name. This is not a get rich quick guide or any other unrealistic attempt that only tries to pull money out of the readers pocket. It’s a great practical book that pushed me to start tackling my finances. It shows you how to get rich over the long haul but still buy the stuff you love. There will be a book review soon and I will link from here to it.
Ramit provides very practical advice. On the other hand, one book that changed my financial mindset was Rich Dad Poor Dad written by Robert T. Kiyosaki. This book alters your whole thinking about money. It suggests that you stop working for money and start to let money work for you. Another key takeaway is the difference between assets and liabilities. Through the book, he uses his dad and the dad of a friend of him as his two mentors. Both try to teach him how he should live his financial life. Only one succeeds by doing so. I don’t want to spoiler. So give this a try!
Last but not least I want to point out Timothy Ferriss, the author of The 4-Hour Workweek. That’s a great read for all online entrepreneurs and self-employed in general. For anyone else, this book provides still some very nice concepts on productivity and getting things done as well as free some time.
Influential podcasts and blog
The first on my list is Pat Flynn from the Smart Passive Income podcast. You don’t need much guesswork to see what the podcast is about. Pat analyses many different ways to make money passively. This doesn’t mean you don’t have to work for it. With his words:
Work hard now so you can reap the benefits later.
From an investing point of view, I started working with index funds but soon got interested in value investing (a. k. a. the investing strategy of Warren Buffet or Benjamin Graham). Stig Broderson and Preston Pysh do a great job to explain the concept and provide valuable tools on their website The Investor’s Podcast.
Recently, I found another treasure with the pretty new podcast and blog of Pete McPherson. On Do You Even Blog he talks with great guests (like Neil Patel or Nick Loper) about blogging. For my blog, I try to implement as much as possible of their and his advice. He is also a pretty nice guy, funny speaker and helps where he can. For all bloggers out there: MUST READ / LISTEN!
Step 2: Why did I start this blog and what it is not about?
I started this blog because I think there is a need for it. Sure, also because I would love to be one of those blogger guys sitting in a Starbucks coffee shop and drinking a Teavana Shaken Berry Sangria Herbal Tea while smashing my newest viral post into the keyboard.
However, I think my type of blog is unique. But first, let’s see what’s already out there and I don’t want to copy.
When I’m looking at my Feedly blog list, I see 2-3 types of PF (personal finance) blogs.
- Die-hard frugality & early retirement
- Multi-million dollar businesses
- (High Income)
Let’s talk about all of them in a little bit more detail and afterward about my own style.
Die-hard frugality & early retirement
There are great blogs in this niche. I think one of the best is MMM. He helps you to calculate your monthly expenses, how to get rid of things you actually don’t need and escape this ‘keep up with the Joneses’ madness. It’s all about a minimalistic (and maybe also extreme early retirement) lifestyle. There are other blogs like The Simple Dollar that will teach you how to save some bucks on all the small things. But actually they end up writing a lot about cheap recipes or ingredients and I think I should write about money and not about dishes. Two things I have in mind for this:
- Early retirement implies that you don’t like what you’re doing for money. Personally, I love my job. I don’t want to retire in my 40s.
- I like what Tim Ferriss thinks about this topic. He said retirement is the worst-case scenario. You shouldn’t work your whole life to the point where you are physically not able anymore to work with tons of money. Early retirement helps here, but as I like my job I would use mini-retirements instead and take off a month or two when I want or need it.
This is a lifestyle that is not designed for everyone and I like luxuries from time to time. I don’t believe that I’m a bad person because of it. I’d also like to change my life and my living expenses without ruining my whole retirement master plan. While I think frugality is a good thing and you can read quite a few posts about budgeting on this blog (well that’s the reason why my name is Sir BUDGET), I also like to choose a less extreme path for my financial life.
Multi-million dollar businesses
Another category that is great but not the way I want my blog to be. There are very successful people like Ramit Sethi and Robert T. Kiyosaki as well as Tim Ferriss that fall under that category. They’ve written a book and/or created a million dollar business. It’s great to read their opinions on so many tasks as they are the gold standard. Sadly, they’ve lost a lot of the blogging style and authenticity while reaching the top. I don’t want you to think ‘okay Sir Budget was able to do this, but I’m not like him. He’s a superhuman.’. I want to be a part of our community and I want us to teach each other. I want to be grounded and on your level. Not 6000 steps ahead.
BTW, I hate it that you can’t contact the blogger, or let’s call it owner directly. Most of the time you talk to one of their employees and you totally have no clue who this person is.
This is a fairly new category or at least I haven’t noticed them before. These are blogs specifically to readers with higher income. One great blog as a leading example is Physician on FIRE. While I think this is the category with the most similarities, I still consider my style as highly differential.
So, now you know what this blog is not about. But what is it about?
Step 3: What am I writing about?
After I’ve told you what my blog isn’t about. I want to share with you my own and I think unique blog style.
There are three pillars my blog is building on.
- Increasing your income
Let’s delve a little deeper into all of them because there is no exclusiveness in it right now.
As my name implies I will write a decent amount of time about budgeting and saving money. However, I dislike the way other PF bloggers are doing it right now.
I don’t think that you have to be a penny-pincher and watch every cent. Sometimes a penny is just a penny. Even worse, tracking every single cent may become tedious and you break your rules or stop budgeting at all. I want to teach how to find the things that are emotionally important to you and cut rigorously on the things that are not.
I will also show how to build a financial system that can make you a very wealthy person over your lifetime. This is not done in 1 or 2 years…more like 10 to 20. However, in the end, you will still have a fixed amount of money every single month that you can spend for whatever you want. Buy an expensive car, a bigger house or save it all for your retirement. You can really use these bucks for whatever you wish as long as you don’t spend more than this fixed amount of money.
After some weeks reading my blog you will gain financial literacy. Equipped with it, you will be able to live a richer life and don’t bother about coming bills that you’re not able to pay. You will be the master of your finances and you will know when and where your money flows. Like a sir!
While reading my blog you will learn about the difference between assets and liabilities. I like the way Robert T. Kiyosaki looks at it. He says assets are things that generate income for you.
Stocks are a great way to start and can also be your only assets as you can diversify them nicely. I like to have multiple income streams but this is one where you can start right now and invest in your future. The best way to start investing is picking index funds and you will learn about them on this blog in a great detail.
If you know what the Pareto principle is, index funds are the 80% solution. You can make a decent amount of money with low risk and low effort. If you want to go a step further and become a little bit more geeky about your investments I will list several other possible investing strategies. Some of them I also use and can recommend highly to those who are willing to spend a little more time to increase your gains.
I will also show some crazy ways of investing like high-frequency trading. I’m not investing like this, but I can give you a short introduction and some guidance where to go from there if you are interested in doing so.
Increasing your income
In my opinion, there are a lot of ways to make more money. I want to unveil the ones I have decent knowledge about or I’m trying out in a case study.
I will show you how to find and start side hustles to generate income through another stream. This is very important and I’m especially interested in passive income streams. Maybe we will be able to earn some money while we’re sleeping.
Another thing that is very important for me, is freelancing. I know you may not have a job that is applicable for freelancing. However, I hope I can also share with you some opportunities to start as a freelancer in another job field. As a freelancer, you need a very specific skill set and I will show you ways to lift your productivity to a higher level.
Last but not least, as I want to build a business over the long haul I will share everything I learn on that way so you can follow me on the way to your very own company!
Step 4: Special features that this blog offer
Okay, I know you want to start reading and walk the road to wealth. Sorry, but on this blog, I like to do some aspects a little differently and I think some of them need a little explanation.
Here are my features:
- Key takeaways
- Book reviews
You see, right now this is very little. However, through the coming months and years, I will add a lot as I have many (good) ideas for this. I can’t unveil them right now as they are super secret.
Okay, you got me. I will share one of them: Investing and budgeting calculators!
Key takeaways will be on every regular blog post. This will be something you can directly take away from the post and implement it into your own financial system to improve it right away.
Book Reviews, on the other hand, will be published every third Friday of the month. I have a rating system that will be explained in more detail in one of my next posts. I will link to it, soon. If you would like me to review one specific book, feel free to write me an email.
Step 5: Select your track and start reading this
So, enough talking. Let’s get our hands dirty and start with one of the paths that will lead to financial freedom, wealth and happiness. Choose your track.
Recommended: If you don’t know which way to select, I think budgeting / build a financial system is a great place to start.
Budgeting (Build a financial system)
Start Investing (Let the money work for you)
Increase your income (Freelancing, Side hustles, etc.)