A FIRE movement blog for those seeking FIRE, by those seeking FIRE
One of the most important things you can do in your journey to reach financial independence is to eliminate and avoid debt.
If you're like nearly every other American (and Canadian), then you're in debt - and that means that a portion of every single dollar you earn belongs to someone else. The more debt you have, the more your money belongs to someone else.
So you go to work to earn money to pay back your debts - it's a vicious cycle and you end up getting worked to death.
Forget that! Pick a debt elimination strategy, even if it's a different kind of plan, and eliminate your debt ASAP.
Once you've eliminated your debt you should avoid debt like the plague. Debt is the great killer of wealth. Think for just one second how great life would be if you could just keep the money you make?!
Cash would start to pile up faster than you realize! In fact, when you get to keep the money you make it's possible to thrive on a single income (even if you're in an expensive city).
In your quest to reach FIRE it is vital that you eliminate and avoid debt! So click through some of the posts and articles below to find more useful information that can help you eliminate and avoid debt!
If you’re like most people, financial independence is one of the many things on your lifelong bucket list. The road to a financially care-free lifestyle is a difficult one. You have to make some thorough and long-term plans that have to go off without a hitch.
Finances are even more complicated than they seem, especially when you want to get out of having to think about them. Here are five simple tips you can use to fix your finances and get closer to your financial goals.
These outdated financial rules were created by previous generations, but no longer hold true in today’s world.If you’re interested in achieving financial independence and early retirement then you need to consider breaking these 5 outdated financial rules.
[Read more…] about 5 Outdated Financial Rules that Need to be Broken
This Contributor article was written by Good Nelly
Today, I am going to share with you a story from our financial journey. It’s about our debt payoff journey and how we overcome financial struggles that shaped the financial life we have today.
If you think that our financial lives were a smooth ride, you’re wrong. In spite of being a personal financial adviser now, once we struggled to repay debt.
This is our story.
[Read more…] about From Overburdened with Debt to Debt Free Within 3 Years
Mike Tyson once said “everyone has a plan till they get punched in the face.” The opposite was true for me.
It took a solid punch to the face for me to wake up and realize that I needed a plan. This is the story of how my 14 months of unemployment led me down a path to financial independence and early retirement.
[Read more…] about How 14 Months of Unemployment Lead to Financial Independence
This Contributor article was written by Just Start Investing.
Learning how to save 50% of your earnings is a great way to set yourself up for financial independence. Maximizing savings is something anyone can do, regardless of income.
[Read more…] about How to Save 50% of Your Income (or more) In 3 Simple Steps