FIRE Basics: Saving and Investing
FIRE Basics: Saving and Investing Welcome to the world of FIRE – Financial Independence, Retire Early. If you’re dreaming of leaving the 9-to-5 grind behind and gaining full control over your time, then you’re in the right place. The FIRE movement is all about saving aggressively and investing smartly to achieve financial independence and retire early. Let’s dive into the two core elements of FIRE: saving and investing . Saving: Building Aggressive Saving Habits The journey to FIRE starts with saving as much as possible. The more you save, the faster you can reach your financial independence goals. Here’s how you can get started: 1. Budgeting and Expense Management First things first – know where your money is going. Track every penny you spend and create a budget that aligns with your FIRE goals. Cut unnecessary expenses and stick to your budget. Remember, every dollar saved is a dollar that can be invested. 2. Reducing Living Expenses Living costs like housing, food, and transportat...