This one is for the extreme savers out there — those of you that call yourself frugal but sometimes worry you might border on cheap.
As a frugal person myself, it has become harder and harder for me to spend money without feeling guilty.
I’ve discovered many people also feel this way. We don’t often admit it, even to ourselves, but that guilt is constantly there when spending money.
Stashing your cash is great and can help you achieve goals, but Scrooge McDuck and Mr. Burns didn’t seem very happy and probably didn’t have many friends (Smithers doesn’t count). …
Traditionally, financial independence involves earning, saving, and investing a large sum of money in your early years so that work becomes optional well before conventional retirement.
The idea is to do the hard work upfront in your 20s and 30s — pursuing promotions or taking on side hustles to earn more money while also cutting back your expenses so that you can save half or more of your income.
Some people may choose to stick it out in a job that they dislike because the salary is high and will allow them to reach their financial independence number as quickly…
Financial independence and financial freedom. There are plenty of definitions and ways to think about these terms. In fact, they are often used interchangeably in the personal finance space.
However, by framing them as distinct, with financial independence as a numerical goal and financial freedom as a state of mind, you will ultimately lead a more meaningful and successful financial journey.
While financial independence is an amazing goal, achieving a mindset of financial freedom is equally important. It is also possible to reach financial freedom and the benefits that come with it, well before you reach financial independence.
The following is the voiceover from a video I made to propose to my then-girlfriend (wife in 2 days!).
[Friday Harbor, WA. 12/31/20. 11:51 pm PST]
I’ve talked about investing in education. Starting a business and betting on yourself. Invest in relationships by surrounding yourself with the best people. People better than you. People that motivate you to be better in all of your pursuits.
Today’s article is a bit of an experiment. Typically I teach. I educate about all things personal finance and I focus mainly on seeking financial independence and early retirement. But today, I’m actually seeking your advice.
Before you click away because you think I’m not offering you any help, I will definitely share a few personal thoughts and ideas. But I’m also hoping to have a conversation in the comments. Perhaps your answer is there.
Please leave a piece of advice and also poke around for an idea or resource in the comments that might be of use for you…
Pursuing FI takes a lot of time, energy, and sacrifices that will test your resolve throughout. If you’re pursuing financial independence for the wrong reasons, you’ll be more likely to give in or give up when the going gets tough. And it will.
This why exercise is also important because it forces you to think critically about your goals and values in life more holistically.
Hopefully, hearing what inspires me to pursue FI will resonate with you and help you reflect as well. I’ll also provide some tips for you to help you craft and fine-tune your why.
When I first heard of financial independence and the FIRE movement, I remember thinking: How is this FIRE movement stuff possible? If it’s so easy, why haven’t people been doing this for decades?
It never seemed tangible or possible to me. But the more I looked into it and started taking action; I quickly understood how the everyday person can achieve financial independence and retire early without major sacrifices day-to-day. I also realized
FIRE is gaining popularity every year because it’s getting easier to achieve every year.
I found success in practice, but, more importantly, I found evidence in research…
I’m a personal finance writer and YouTuber. But I’ve been thinking a lot about the creative process lately. I set a massive goal this year of 100 videos and I just published #67. And you what? I finally feel a bit exhausted…
I should have expected it. It’s summer. The world opened back up (*knocks on wood). I’m writing this on my birthday. And I have a wedding and honeymoon next month. Awesome distractions galore. Plus, the personal finance space makes it tough to crank out quality consistently because it requires a lot of research.
How do you achieve financial independence in one year? Can anybody do it? It’s absolutely possible.
Shortly after announcing I was working on a book at the end of 2018, I told a friend my goal was to quit working my 9 to 5 in 2 years. I was going to become financially independent. I had never shared this goal with anyone and I honestly had no real idea how to get there. Living off of indie book royalties surely wasn’t the ticket.
Nearly 3 years later, I’m still working full time and side hustling part-time. That said, I’ve learned…
I’ve been watching a TV show and I’m a little afraid to admit what it is because I am not the intended target audience. It’s called “Never Have I Ever” on Netflix.
Before each episode, the title screen shows and adds a short blurb after Never Have I Ever. It’s a short hint at the lesson or challenge in the episode Devi will have to face.
That got me thinking… can I fill in the blank myself and turn those into fun mini-lessons? Today I present “Never Have I Ever ____ Financially”, a fun game and experiment. …