Know Your Cashflow – Important FIRE Tip

early retirement depends on knowing your cashflows

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 know the importance of saving money and to save you need to spend less than what you earn and bigger the difference better it is. If you want to be successful in the FIRE journey, you … Read more