drawing by the author
Financial Independence describes the state in which the assets of a person generate enough income to sustain or even exceed his or her expenses. Financial independent people don’t have to work anymore to cover their basic needs as their wealth throws off enough passive income (e.g. dividends, rents, interests etc.).
We love eating out but never made it a habit.
Cooking at home is an exciting element of our systematic approach to keep our savings rate consistently over 50 % and there is plenty of room for further improvement (see page Savings Rate and post How to shape your Finances? Track your savings rate). We
I have never been a big spender. I have always been a much better saver instead. Money is energy, often traded against time and effort. It is too valuable to be wasted. The consumerism mantra “one earns to spend” is a very tricky one.
You cannot have a voluntary, independent life while drowning in debts and living from paycheck to paycheck. As long as you have to work hard for your money to make a living, you are stuck in a treadmill and will never be free. You cannot rise to the top of your capabilities and pursue your dreams.
draw and shape your (financial) life
drawing by the author
You must put yourself in a position – financially and mentally – in which you have options. Read more… »