Most of us dream of fiscal freedom, longingly. We jot down some numbers and are so appalled that we back off from every taking the steps to achieve it. But, some analyzing is required. Imagine the dream is real and doable. But, first you must know what you truly have already. You undoubtedly know your take-home pay number. But, take the time needed to really understand it, that is what do you have to live on after you take out taxes, groceries, rent, incidentals, like that morning coffee, the pack of cigarettes etc. When you have an actual figure, you can divide it by a number of days and have an actual per day figure of money you need to live on. It may sound like a lot of rigmarole. But, consider it in this light. That figure is the amount you must have put aside to stay home and not work for an entire day. Once you have that magic number you can figure out how to cut down your work hours by saving allotments of your special number. You may not be able to leave your job. But, you can certainly improve your life.
Key Takeaways:
- To loosen the shackles of fiscal dependence, it’s important to retool one’s understanding of the money one has.
- Unfortunately, take-home pay is not a true reflection of what we live on, as that number can only be arrived at by deducting an array of normal expenditures.
- Once we have that number, we can actually deduce what we need to go a specific number of days without working.
“”That’s never going to work. The only way to achieve something is to get very clear on what you want, work out what you need to do to get it, then break it down into manageable chunks.””
Read more: https://www.propertygeek.net/blog/financial-freedom-calculation/
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