Nearly 80% of American households carry debt in one form or another. It continues to be one of the biggest financial setbacks for most people. Learn how to get out of debt, stay out of debt and break free from the chains.
Nearly 50% of American households say they couldn’t cover a $1,000 emergency without borrowing money. Many people stress over bills and expenses. Take control of your financial plan and set yourself up for a better future.
70% of Americans say that they have job dissatisfaction. When you are intentional with your money, you will succeed and gain the freedom and flexibility to live as you choose.
Everyone Has Their Own Why Not everyone wants to retire early. And that’s not why most people pursue FIRE. It’s important to understand that financial independence is about freedom and security. Most people just want to put themselves in the best financial situation they could possibly be in.
You need to understand why YOU want to get your finances in order.
If you haven’t already figured out why you should want to take control of your money, continue reading before moving on to the next chapter.
Our Why Of FI:
We want to pursue our passions outside of a 9-to-5. We want to live a fulfilling life traveling the world together, and enjoy more time with family & friends. Most importantly, we don’t want to worry about money!
We asked some other bloggers to share their “Why of FI,” check out their responses below!
I must admit that I’m kind of afraid of failure. And one of the other reasons I seek FI is because I can try out different business options without the fear of failure (since I got enough money to support myself).
I want to start something for myself, be my own boss.
Because when I’m FI, I can’t fail. And if I can’t fail, that means I win either if the business would succeed or not. FI is my safe-failure.
My “why” for wanting to become financially independent is to provide security for myself, to be able to explore other career opportunities, and to be able to take some risks in my life.
I feel like I’ve played my life relatively safe, and being FI will allow me to take a few more risks. I’d love to pursue some not typical career opportunities, like video game design, voice over work – something new I can try to tackle. FI for me is all about security and opportunity.
We are pursuing FI because we want to gain the freedom to pursue whatever we desire in future. This is likely to include extended periods of travel, lots of time with family/friends, sport, music and food!
Financial independence would give us the freedom to reduce or remove working hours to suit our chosen activities rather than the other way round. At present, the slog of working 5 days a week is taking a toll.
We don’t currently have kids but do plan to. Being FI would allow us to spend much more time as a family and explore the exciting things in the world. It’s a tragedy how little time most people spend with their kids.
Freedom of thinking and action to do what matters most. I am looking at my options to do the most good (effectively) and make the world a better place. I plan on working on a cause such as global catastrophic risk prevention. I believe FI is a superpower that we can use to make a big difference!
For me it’s about having options. Having the option to read books and listen to podcasts all day. Having the option to take holidays 6 out of the 12 months. Having the option to see my friends and family when I want it. Having the option to pursue my passion projects – for example I love the personal finance blogging world, and I wouldn’t mind working on my blogs 5 days per week!