Hi, I’m The Diarist, I’m 32 years old and live in London, UK. I’m a husband and (new) father to a beautiful little girl.
I work in the IT industry and earn what would be considered an average salary.
I started this website as a place to record my progress towards achieving Financial Independence (FI). I’m hoping that by sharing my journey, I’ll be more likely to stay on track and might also inspire others to set similar goals knowing that with some determination and by following some basic principles Financial Independence and even a comfortable Early Retirement (ER) is possible.
To me, Financial Independence is a target state, but the journey to get there is the bit that’s fun. I see it as a way of life – about following proven principles and not succumbing to modern day pressures to buy the latest and greatest to keep up with the Joneses.
I haven’t always been financially sensible, if anything I was a late comer to the party. My youth was spent getting credit to buy things I couldn’t afford. I thought it was normally to pay the minimum payment on credit cards and didn’t understand the concept of depreciating assets. I bought new cars on loan that depreciated faster than I could pay them off and ended up consolidating my debts using more loans. I spent more of my student loan on clothes and nights out than anything academically related.
Fortunately I found the moneysavingexpert.com debt free wannabe boards and after a lot of excellent advice and hard work I went from a world of a debt to the position I’m now in where I track things like net monthly savings rate and my equity bond split.
I’ve mentioned guiding principles and I’ll share how mine currently look:
- Focus on steady long term gains. Compound Interest is the eighth wonder of the world.
- It’s not about how much money you make, but how much you keep and how you put it to work.
- Invest don’t gamble. Time in the Market, not timing the Market.
- Live a balanced lifestyle free of guilt, but be economical when spending money. Be frugal within reason.
I have no doubt that throughout my FI journey these principles will evolve.
My plan is to publish at least 1x monthly post that shows a cashflow statement of my income, outgoings, investment decisions and total wealth. To see my opening post with details of my starting position, click here.