We share how we are saving one income which has increased out savings rate to 40%. This will help us reach FIRE quicker which is financial Independence Retire Early!
In this video I talk about our journey of increasing our income and decreasing our expenses to increase our savings rate. I give a breakdown of how my husband's income has increased over time and now we are in a position to be able to live off his income and save my income.
This makes our savings rate around 45-50% if we include employer contributions to our retirement accounts. I share how we calculated our savings rate and why savings rate is important because it determines how many years until early retirement.
Mr Money Mustache has a table in his blog the shockingly simple math behind early retirement. It's worth checking out: [ Ссылка ]
I share our monthly expenses to show how we can live off one wage and I also give tips on how we have decreased our expenses. These include: borrowing less than we can afford for our mortgage, keeping an eye on our mortgage interest rate, using credit card points, using cash back apps, practising delayed gratification, doing no spend challenges and making use of the second hand economy.
Welcome to Family Finance where I chat all things personal finance and in particular family finances, how to save money, investing, budgeting and how to stay on track with your financial goals. Our goal is to build our passive income to reach financial independence, also know as FI.
Other videos you might enjoy ...
JULY NET WORTH: [ Ссылка ]
OUR EARLY RETIREMENT PLAN: [ Ссылка ]
OUR STOCK PORTFOLIO: [ Ссылка ]
START INVESTING EARLY?: [ Ссылка ]
Find me on Facebook: [ Ссылка ]
Find me on Instagram: [ Ссылка ]
MY ETSY SHOP: [ Ссылка ]
AFFILIATE LINKS
4 Months Free with SHARESIGHT: [ Ссылка ]
Shop Back: [ Ссылка ]
Cash Rewards: [ Ссылка ]
BOOKS TO READ
Motivated Money: [ Ссылка ]
The Simple Path to Wealth: [ Ссылка ]
Your Money or Your Life: [ Ссылка ]
I Will Teach You To be Rich: [ Ссылка ]
The Barefoot Investor: [ Ссылка ]
Money Made Simple by Noel Whittaker: [ Ссылка ]
Atomic Habits: [ Ссылка ]
The 5am Club: Own Your Morning, Elevate Your Life: [ Ссылка ]
HOW I MAKE MY VIDEOS
I use Keynote to make my slides using images and text for from Canva:
[ Ссылка ]
I then record my audio using my blue yeti microphone: [ Ссылка ]
I then use iMovie to link my audio with the Keynote slides.
Please note: some of these links are affiliate links where I'll earn a small commission if you make a purchase at no additional cost to you.
Disclaimer:
The information on this YouTube channel and the links provided are for entertainment and general information only and should not be taken as constituting professional advice. I am not a financial advisor. The information on this channel is personal to my situation and does not take into account your personal circumstances. You should do your own research and if necessary consider seeking independent financial advice that is related to your unique circumstances.
#savings #financialindependence #savemoney
