Why Lifestyle Inflation is harmful and How to avoid it

Lifestyle Inflation

Lifestyle Inflation is a silent killer of wealth. Thinking differently about Lifestyle Inflation may help in dealing with it. What is Lifestyle Inflation? Lifestyle inflation (lifestyle creep) happens when people spend more and more money to achieve a higher standard of living. Lifestyle inflation can occur in any area – from everyday expenses like a … Read more

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Know your reason (WHY) for pursuing Financial Independence

Finding your Why

Working towards Financial Independence (FI) is great! However, the WHY of Financial Independence is also equally, if not more important. Importance of WHY Many years ago, I watched a TED talk on How great leaders inspire action. I was a consultant back then, and this talk was focused on how companies can get better. However, … Read more

Tips for Saving Money on Utilities: Small Changes, Big Benefits

Saving Utilities

Saving on utilities is easy and can lead to huge savings over time. Here are a few tips for saving money on utilities that I have used. Why Saving on Utilities Matters? Utilities are often an ignored expense area. Maybe because we take things like electricity, water, gas, internet, etc., for granted. However, it can … Read more

Saving money on transportation

Transportation

Transportation does not seem like a big expense item. But there are many components in the transportation area – vehicle cost, maintenance, repairs, insurance, petrol / gas, etc. Add all this together, and transportation can be up to 10% of monthly expenses. How I save money on transportation 1. Not Leasing or Financing a Car … Read more

Financial Independence Planning in 3 Steps

Steps to Early Retirement

Thinking of retiring early? These three steps helped me create my Financial Independence / Early Retirement plan. Financial Independence / Early Retirement Planning Financial Independence / Early Retirement is a worthy goal, but it requires a lot of planning and preparation. Planning for early retirement is also important because we are good at short-term thinking … Read more