Become financially independent and retire early
Debt is a viscous cycle. This is especially true if you have a lot of debt. Focusing on paying off debt is key to ending the cycle. However, if a new, surprise expense pops up out of no-where what can you do, other than pay for it with credit? If you’re up to your eyeballs …
Continue reading “Keep an Emergency Fund to Stay Out of Debt”
As medical and health insurance costs in the United States continue to rise, it is important to have a plan on what health insurance plan is right for you on your way to FIRE, while you’re still employed. Types of Health Insurance Plans in the USA POS- Point of Service No referrals required to see …
No. A brand new car is a nice luxury that most yearn for, including myself. I can easily finance a new car, but since my focus is to be financially independent, I will not. What does a brand new car cost you? If you can pay cash, which you should if you can afford it …
Groceries budgets can vary vastly depending on the type of food you purchase. If you are looking to reduce this budget item, you might be surprised how easy you can lower it. I budget $350/month for 2 adults for our groceries and most of the time, we are under budget. Cutting your grocery bill in …
Continue reading “Cooking with FIRE. 15 ways to reduce your grocery budget”
Refinancing your mortgage is a quick way to save extra cash through interest savings. You can also benefit from a lower payment as well, allowing to save more money each month. How much can refinancing really save you? Your savings could be ten of thousands of dollars throughout the life of your loan. Here’s a …
If you live on a fixed income, budgeting your monthly expenses will help you FIRE earlier. Many financially independent people, attest that budgeting helped them reach their goals and allowed them to retire earlier. Knowing where your money is going is half the battle. If you know where your money is going each month, you …
Your savings rate is a very important aspect of FIRE. The more money you save, the less you spend, and the faster you retire and become financially independent. With the below simple formula, you can calculate your savings rate too! The Simple Math Savings Rate = Savings/(Gross Income – Taxes) I will calculate my savings …
Continue reading “How to Calculate Your Savings Rate & Help You FIRE Sooner”
This post describes my background and goals. Everyone’s goals are different. If you want to retire early, when do you want to retire and how much money will you need? Write it down. That’s what I am doing. Hello and welcome to my first blog post! If you are still reading by my first sentence, …
Continue reading “Introduction- Retire Early & Financial Independence Goals”
Learn from your parent’s financial mishaps, don’t follow. I want to start by writing that I love my parents very much. They taught me many great lessons as they raised me, but they have not made the best financial decisions. Both Mom and Dad have high school diplomas. My dad worked labor at a Steel …
Continue reading “12 Financial Lessons from my Parents and my Background”
Financial Free Runner 