2. He Once Made a Pretty Costly Mistake
Everyone makes mistakes. Even Mr. Money Mustache, who is now living a life free of financial constraints, has made a few. While he once bought his son a Rubik’s Cube that promptly broke and considered this a poor investment, this was not the “big” mistake that cost him thousands.
However, in 2004, a much costlier mistake was made by Mr. Money Mustache. This is the year Peter made the decision to begin a real-estate venture with a friend from work. They had two spec houses constructed on the edge of Longmont in a New Urbanist development that was called “Prospect New Town.”
The streets and lots were much smaller than other areas in the town, which made it unpopular for the car-dependent area. The initial house the pair built was originally sold in 2006, for the asking price. The second spec house, which was finished in 2007, got caught up in the housing bubble and collapse. After a serious fight with his partner, Peter wound up losing several thousand dollars on the deal. The house finally sold; however, not after Peter had to learn this financial lesson the hard way.
1. His Blog Currently Makes about $400,000 Per Year
While Mr. Money Mustache has slowed down his blogging pace in recent years, it doesn’t mean he isn’t making money. After all, with a site that receives approximately 3.25 million unique visitors a month, there is revenue to earn. The forum on the blog has almost a million posts on it with over 40,000 topics represented. The majority of his readers, 55 percent, are male. Also, the majority of people who read his blog are younger than him, which he sees first-hand at meet-ups.
Today, his blog earns around $400,000 each year. He was reluctant for this information to go public at first without offering a detailed explanation. The money he makes is from the services and products that he recommends, which include Geico, Lending Club, Betterment, and several others. These company’s pay Peter for each consumer who comes to their site from the Mr. Money Mustache site. He has stated that he only makes recommendations based on research he has done, and his own, personal experience.
He also stated that all of this income is saved and that he plans to give it away one day. Adeney once offered his readers a review of various credit cards, and came to the conclusion that Chase was the best option. When a reader, from this review, clicked on the Chase icon on the page and ordered the card, Adeney received $100. When other people started to do this, Chase representatives looked at his blog and requested that he stop using foul language. He then told them to “bug off,” losing thousands of dollars each month to preserve his right for freedom of speech.
Mr. Money Mustache is not a site for those who want statistics, industry jargon, and the same information they can find anywhere else. The blogs, information, products, and overall vibe of the blog is “real.” The information is to the point and helps you take actionable steps to live a more frugal life that minimizes what you spend on a day to day basis.
If you are ready to make a change in your financial situation, then checking out Mr. Money Mustache is a must. The information provided here gives you an inside look at the man, his life, his history, and what inspired him to help others find financial freedom.
With people all over the world living lives of excess, the idea of reducing expenses, and not wasting money is appealing to many. This is the core audience of the Mr. Money Mustache blog. While there are many other financially inspired blogs out there to use, the uniqueness of this site makes it appealing to people from all financial backgrounds and in any financial situation.
If you want the chance to retire before you reach the ripe old age of 60, if you want to do more of what you love and less of what you have too, and if you want an effective way to reach these goals, then Mr. Money Mustache is your financial guru. Each blog is packed full of beneficial information that helps you reach a state of financial freedom you may have thought was unattainable. Read, act, repeat – when you follow this mantra, you are going to discover that living a life without the worry of finances, how to pay your bills, and how much you earn.