What is Financial Independence?
The minimum Personal Finance goal for anyone should be Financial Independence. The basis of Financial Independence (FI) is boosting your knowledge of personal finance to use your money more effectively and efficiently. The primary objective of FI is creating a savings and emergency fund that leaves you safe from the majority of hard falls life can throw at you such as losing a job or having your car break down. This therefore leaves you less dependent on finances for making important life choices. We all go through emergencies and hard times, so its very important to be somewhat prepared for them.
- The Beginning – This topic starts here, and provides a starting point to the lessons. The purpose here is to get you caught up with your current financial situation as well as create a goal to aim for in the future.
- The Basics – This section provides information on important personal finance topics that provide a base for future learning.
- Improving – Here you will start learning the deep and dirty about finance. From budgeting to reducing debt, you should leave this section with a fairly in-depth knowledge of personal finance and a couple ideas to increase your savings rate.
- Optimizing – Optimizing is all about increasing efficiencies in your finances. It focuses on investing and the use of tax advantaged savings accounts.
- Big Decisions – Insight on some of the most financially taxing decisions in life to hopefully make them a little easier to transition through.
- Independence – A closing section to wrap everything up, I am confident you will have a newfound comfort in personal finance upon finishing this section.