Another Way to Think About Spending: Taxes, Fixed Expenses and Variable Spending
In our first two posts on financial independence, we focused on saving instead of spending and on increasing your savings rate. But, what if you’re trying to find more room in your “budget” to save more money? How should you think about approaching your spending?
The Power of a High Savings Rate
In the first post of this series (“Making A Game Out Of Budgeting”), we talked about focusing on Savings Rate. Today, I want to dive a little deeper into the Power of a High Savings Rate.
Making a Game out of Budgeting
I have former clients who could never get their spending under control and spent every dollar they earned, even though they were making close to $500k per year. At the same time, I have a few clients that have never made anything close to 6-figure salaries and yet have retired when they wanted to, living a better lifestyle now than when they were earning a paycheck! So what’s the secret? It’s all about Savings Rates, not income.