Road to Financial Independence, don't need a budget?
Financial independence does not mean wealth. It also does not mean that you do not depend on any other people, or that you never work. What it does mean, is that you have sufficient sources to provide for your financial needs without having a scheduled job, and without depending on once person, or one source. For those of you whose eyes bug out at the thought of using a calculator or making a budget and don't know where to start, it is easier than you think, and does not have to be hard.
While on this journey to personal financial independence, I am going to start sharing some of our personal journey as well as some ideas, tips, and tricks. We have done this without high paying jobs and without even having a budget (gasp). Yes, that is right. We have never really used a budget.
I have an accounting degree and I do not use a formal budget. It is just a bit too constricting and time consuming. What we do instead, is monitor our spending and make sure we have enough to cover the things we need, or really want, and save ALL of the rest. Simple as that. We have and are raising 4 children, splurged on expensive vacations, an international adoption, paid cash for a new home, and sent our kids to private school.
We are normal people, work regular blue collar jobs, have extravagant spending occasionally, and are 44 and 47 at the moment, and super close to being financially independent and "retiring" early. I mentioned that I have an accounting degree. However, I have never actually worked as an accountant, and make much less than an accountant typically does.
Saving money is really the key. We have lived on one income even when we had two and saved most of the second income automatically. We are married, but if you are single, you can still have a second income if you are creative. I will cover second incomes in a future post.
If we can do it, so can you!
Love,
Marie
photo is from pixabay.com
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