Financial Independence | Just One Percent Better

Category: Financial Independence

Financial independence can be an emotional journey. Budgeting, debt payoff and investment can guide make your life just one percent better.

The goal of financial independence is simple: have enough passive income to cover your living expenses. Once you no longer rely on a job for money, you have the freedom to do what you want with your time.

Financial freedom does not necessarily mean leaving your job. Many financially independent people continue working in fields they love. Some start their own businesses. Pursue the arts, or philanthropy.

Financial independence does give you the most valuable, non-renewable resource in the world: time. You can always make more money. You can not make more time. This precious resource of time will be invaluable in your journey.

The pursuit of financial independence on your journey to a life that’s just one percent better everyday can be a difficult one. Like most things, your attitude is critical, and will make or break your experience.

And while the idea of exposing your finances might be stressful, even emotional, it is bound to provide vast relief once you rip off that initial band aid. How you making your finances work for you, and work towards your future, depends on where you are now. But there are some common guidelines.

A high debt, consumer driven lifestyle is more dangerous than we realize.

Going against the grain of our consumer-driven, materialistic society is difficult. Most are a slave to “more”, going deeper in debt to get fancy cars, stylish clothes and expensive homes. Being focused on paying down debt, increasing savings and building passive income for investment is not mainstream. Many want to look rich, but not be rich. But this debt building lifestyle that many take for granted is more dangerous than we realize. To illustrate, I present this real-life, cautionary consumer tale of my friend Bob*.