Why I Decided to Share Our Finances

Sharing your finances, your income, your expenses, and your lifestyle with the world is seen as taboo. We all grow up hearing that it is unacceptable to ask how much money someone makes. But if we all started to share our income and expenses with each other, I believe we can liberate ourselves and help each other grow towards the atypical life of freedom.

When I shared Atypical Life with my parents, the first comment was:

Do you really want to share all of this information online? What about your family? Who is your target audience? ~Pops

I appreciate my dad’s input and understand where he is coming from. In his generation, it was seemingly unacceptable to share one’s income, even with their own family. I never learned how much money my own dad made until he was retired. I will not share it here, since sharing income is a very personal decision.

I hope to answer his concerns below.

Do you really want to share all of this information online?

scary man
What the media wants us to think all people are like.

Of course, I want to share my finances online. The world is full of people that are scared by the media. The media does their best to make the world seem like a scary and unsafe place to live. The internet is only full of trolls and those trying to steal your personal information, right?

I am an optimist and do not believe all of the scare mongering that the media likes to put out. People are good at heart. I have no qualms about sharing my finances online. I have an engineering degree from a renowned university and make a reasonable salary for that degree. I have taken the chances that have been afforded to me and have been rewarded for taking those chances. Why is this something to hide?

If we all were to share our finances online, then we would be able to better compare how we are doing against the rest of society. Is the job we are doing underpaid in comparison or are we living the good life with a good company paying above average wages? This question and many more could be answered if we had access to the information that I want to provide to all of you.

The human resources department of every large company does market research to determine wage levels and set pay grades. This allows them to make sure they do not “pay you too much”. It goes to show, the information is out there and shared anonymously between companies, but is not available to the public, to do their own fact checking.

glassdoorGlassdoor is a company that allows you to share your income and job titles anonymously. This website is a great way to post your income levels for all to see if you don’t want people to know your identity. You can contribute to the benefit of all by sharing your income and job, so we all can do comparisons across the industry and the economy. It is also a good way to research prospective companies since you can leave reviews on the company culture and other information that is not easily available online.

Why I Share my Atypical Finances

I want to share my financial information to help people. Living the atypical life is great, but being able to help others achieve the atypical life is truly exciting! Through this blog, detailing my finances and tips on how to live the atypical life of freedom, I hope to inspire more to pursue freedom on their own terms. I will share my income while I am employed by my company along with the other benefits of employment.

The second part of sharing my finances is sharing my expenses. There are 2 reasons I want to share my expenses:

  1. to help my readers see that low expenses really are possible.
  2. to help keep me accountable and lower my expenses further.

mr money mustacheMr. Money Mustache was the first financial independence retire early (FIRE) blog I came across and he inspired me to pursue the atypical life of freedom. One of the main takeaways is that the lower your expenses, the less money needs to be saved for early retirement, and the more money you can save each month. These 2 effects compound together to bring freedom super quickly. By sharing my expenses with my readers and the world, I hope to inspire you to reduce your expenses as I reduce mine in the pursuit of freedom.

As seen from my 2017 goals, I hope to lower my monthly expenses by $300 per month on miscellaneous expenditures. By blogging about my monthly income and expenses I hope to control my own habits so that we can live the atypical life of freedom from the man sooner.

By sharing my investment strategy and investment contributions, I hope to educate you about investing. Investing is always shrouded in mystery and portrayed as something best left to the experts. I hope to share my own journey through investing and show the endpoint that is super simple. I will be sharing all of the information that I wish I knew when I started out on this journey 7 years ago. By sharing this information, I hope to shorten the length of time to investment enlightenment for all to follow.

Identity Theft Concerns

I am not concerned about identity theft. Atypical Life is anonymous (obviously my name is not Atypical), and will certainly stay that way until at least I leave the workforce. Sharing my income, expenses, and investments are just sharing values. In order for identity theft to happen, a thief would also need account numbers and lots of my personal information that is not available. Because of this, I am not concerned.

Atypical Life Target Audience

I will answer my dad’s final 2 concerns here. My target audience is all of my readers and the public that wants to know about freedom.

I hope to help people through my openness about finances and share with others our story about how we achieve freedom.

I would love to share Atypical Life with my family, however, there is the concern that they may be jealous because of the income level I am at after only working for a few years out of college. I understand the concern here, and will likely share this only with my family that I think would enjoy the read and learn something along the way. There really is no reason to be jealous of my income because it was all earned and deserved. Because of my engineering degree, my starting salary out of college is significantly above the average college graduate, but actually low to median for engineering salaries. This coupled with my acceptance of an expat assignment in China has allowed us to pursue an atypical life.

In Conclusion

Yes, I will share my finances here on Atypical Life. Sharing of our finances both income and expenses, I hope to inspire my readers to reduce their expenses, increase their income, and achieve the atypical life of freedom sooner. Sharing your finances online and in general is a deeply personal decision, and I believe the benefits to ourselves and society greatly outweigh the risks.

Thanks Pops for sharing your concerns and helping me to realize that freedom is paramount. blog post text

Do you have a blog? Do you share your finances online as well? Why or why not? Let me know in the comments.

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