Regardless of your age, income, or past mistakes, you CAN achieve Financial Independence. I’ve noticed a ton of interest around the idea of “Financial Independence” and I think the reason why is this: the global pandemic shut down has made us realize the truth of our financial situation. 78% of workers are living paycheck. If you were living paycheck to paycheck and your income has dried up, then you are suddenly in a difficult situation. You have to hustle to find additional income and make tough choices about what bills and expenses to pay. Even if you haven’t lost your income, you likely know someone who has and this has motivated you to want to take action. While unpleasant in the beginning, this can turn into a good thing. People are hearing about Financial Independence and thinking “gosh, that sounds really good.” The tools that build Financial Independence are available to absolutely ANYONE. However, while Financial Independence is for anyone, it isn’t for everyone.
Three “Legs” of the Financial Independence Stool
Practice Industrious Frugality - This type of frugality is a determination to do more with less, allowing you to save more money in the necessities and put it to work for you over the long term. This is NOT fearful penny pinching, this is thrifty with a purpose.
I refer to the Benjamin Franklin Quote - “Be industrious and frugal, and you will be rich.”
This is absolutely true.
Save Aggressively and Invest Wisely - If you’re just struggling to get by, saving anything can seem like an impossible goal. It’s important to look at progress, not perfection. If you make $40k and just save $50 per month, you’re actually doing better than someone with an income of $500k who saves nothing. In this area, small steps to saving really do add up.
Earn Additional Income - Simply put, earning more income allows you to speed up the timeline to your financial independence goals. This involves building a bigger generating more income to put it to work for you. Additional income can start small. I’m a big fan of the side hustle. (Playlist) Every extra dollar you can bring in will move you that much closer to financial independence. On the other hand, I’ve personally found that it can be tough to decide what hustles are the most worth your time.
More videos you might like:
My F.I.R.E. Playlist:
Check these out, too...
About Me Playlist (more info on me and my story!) -
Side Hustle Playlist -
Affirmations that Got Me a Job -
My Vision Journal System -
Vision Board - First Look -
Room Tour -
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