The first step to achieving financial independence or early retirement is managing the cashflow or in simple words understand your earnings and more importantly your expenses. What is Cashflow? In simple words, Cashflow is the money flowing in and out of your bank i.e. Money earned minus Money spent. As a FIRE (Financial Independence and /or Early Retirement) seeker, I would assume that you … [Read more...] about Know Your Cashflow – Important FIRE Tip
Budgeting and Goal Setting - Tips, Tools & Strategies
The first step to achieving financial freedom to setup SMART goals - goals that are Simple, Measurable, Achievable, Relevant and Time-bound. In this section, we will learn from examples of budgeting, finding out expenses that suck your budget, identifying trends, strategies to stick to your budget and keeping track of progress towards the goal.