Not having to work (so hard) for money anymore, who doesn’t dream of that? It seems to be possible by simply adjusting your lifestyle. In all likelihood, many people have accumulated capital this way. Not by working much more, but by making a number of small concessions every month. How?
What do you need to be more financially independent? This amount will differ for everyone. It all depends on your current lifestyles as to what you want your life to be like in the future. What are you satisfied with? Does everything have to be big and luxurious and therefore expensive, or can you also live a more frugal life? Many (young) people think: Whoever lives, then takes care. Of course, there is something to be said for enjoying life as much as possible and doing fun things with the money you now have. However, it is not wrong to think about the future. Living now and having money in your hands is of course wonderful. If that is nice now, how would it feel to have some extra money in the future?
Earn some more
First ask yourself what you need every month to be able to make ends meet, or to retire, so to speak. The point is not that you can buy and do everything you want, so no expensive cars, travel, or other luxuries, but just live as you already do, but without having to work too hard. to maintain that life. If you have an amount in mind, you could think about what you could do to earn something extra, for example doing a few odd jobs here and there, selling second-hand items or trying to get a better position through study or working your way up in your current job.
In addition, you could look for ways to reduce your current spending habits, for example by canceling expensive subscriptions, or simply spending less than you normally would. Consider, for example, parking fees. Park your car a block away for free more often, instead of regularly putting money in the machine. Or bring your own lunch from home, instead of paying for your lunch at work every day. It doesn’t seem like much, but every little bit helps.
You put the extra money earned or saved in a savings account. In addition, you could start saving (if you can afford it) twenty percent of your income. For example, you can have this automatically debited from your account every month. You can also set aside all the extras before you are tempted to spend them. The sooner you start, the sooner you will have something to eat. So you don’t have to try very hard to earn more, but you can save quite a bit by simply spending less and putting the money you save away at an attractive interest rate. Choose a savings account that naturally gives you the most interest and leave the money there for as long as possible. Take a look around the internet at all the different types of savings and obtain detailed information from the relevant bank. Of course, not everyone will reach the position of true financial independence. The goal does not necessarily have to be that you have saved the amount you initially had in mind so that you can retire. Above all, it motivates you to go a long way.