Recent Updates
I’ve missed you guys! Hopefully you’ll forgive my recent disappearance, as things have been a bit wild in the Mammon Sense household. Just to name a few things…
Mr. Sense and I welcomed a three year old foster girl, turning everything upside down in our world. This wonderful kiddo was originally supposed to just spend a weekend here, but now she’s here indefinitely. This has been a major lifestyle shift for all of us, but we’re sure having fun!
My mom and I are about halfway through co-teaching a biblical personal finance course at my church, covering everything from credit scores to tithing to saving for kids’ college.
I recently ran the Shamrock Marathon in Virginia Beach after a tough training block in lots of snow and ice– Staunton winters can be a challenge! I just signed up for two more marathons later this year. Hopefully all those twenty mile training runs will give me time to think through future blog articles.
There were some personnel changes at my work and shifting around of responsibilities. I received a nice pay bump, along with a whole lot of additional work. I’m looking forward to being much busier, which certainly makes the work day go by quickly.
Despite my busy schedule, I’m still very aware of the craziness happening in the stock market these days. I work in an industry that stands to be heavily impacted by tariffs, and many of my coworkers and customers are understandably freaked out.
Here’s my view: the chaotic nature of the new tariff policies– which will probably have shifted again between my writing this and getting in online– is awful for both Americans and the global economy. Tariffs are just bad economics. Free trade has lifted the financial fortunes of millions of people, and it’s unfortunate that the current administration takes such a dim view of it. The stock market is doing its job and reacting strongly against tariffs, so hopefully the folks in charge will feel the heat. Our current situation highlights why it’s so dangerous for the legislative branch to cede so much authority to the President; the best case scenario is that Congress decides to get its act together, if only because its members fear for their reelection campaigns.
While we wait and see how this plays out, should we be doing anything differently in reaction to the times?
For my part, I’m not making significant changes. It probably goes without saying that I’m not going to start panic selling my investments. I believe the stock market could still have a lot further to fall, but I still think it will trend up over the long term. No one knows where the bottom is, but I plan to keep buying VTI and/or VXUS when my paychecks hit.
I know a lot of people are buying bigger ticket items that they expect to go up in price soon– cars and electronics in particular. I’ve read that most big brand running shoes are produced in Vietnam and other countries that may face much higher tariffs soon, costs which will inevitably be passed on to consumers like me. My husband and I discussed getting a second vehicle now, since we’ll probably need to make a purchase in the next couple years– we hope to pass the Corolla on to Kid Sense at some point, and we also may need something larger if our family continues to expand.
It’s tempting to use some of our cash reserves to get the car, a newer iPhone, and maybe a few pairs of running shoes before the prices go up. But we’re holding off for now*. We may pay more later on, but I like having the money on hand for paying bills if my job takes a hit during the economic turmoil, or available for investing while stock prices are lower. We’ve also grown to enjoy NOT buying stuff, which makes buying a new computer feel icky when the one I have works fine still.
FIRE– financial independence, retire early– is about saving up enough money that you don’t have to rely on paid employment to cover expenses. My family isn’t there yet– we still have a ways to go– but these uncertain economic times are making me appreciate the journey. Our high savings rate over the past few years means we have a sizable emergency fund. I could continue to pay the bills for a long time, even if my job disappeared. Our brokerage account balance has dipped with the market, but there’s plenty of time for it to recover before we rely on those funds.
More impactful than the money we’ve saved is our ability to be happy while buying less. Mr. Sense and I have had the good fortune to be on this FIRE path at the same time as we’ve focused on deepening our faith. The combination has been transformative. We’ve learned to find more joy in our relationship with Christ and in our marriage and family. I used to think I would be embarrassed to drive a lame car, but now I happily ride my bike to work each day. I enjoy it more than I did my (financed) brand new pickup truck from a few years past– though I have to admit I liked the truck a whole lot, too. I no longer stop to pick up a fancy breakfast sandwich on the way to work, but Mr. Sense is always whipping up fresh batches of bagels, which are just as tasty, much cheaper, and come with the added benefit of a home kitchen that always smells like fresh bread.
Learning to be happier while spending less money is the ultimate frugal hack– more sustainable than figuring out how to buy the same amount of stuff while clipping coupons or sacrificing quality. Even though the prices of just about everything are subject to change, the price of buying nothing should stay pretty stable!
*I’m considering a new cargo ebike, something I can put a child seat in for running errands and going to the park. This has been in my mental shopping cart for a while now, and Aventon has a nice sale going on the previous year Abound model… Please comment or send me a message if you have one! Our local bike shop will order one, but doesn’t keep them in stock.
