You may be wondering: “How do I start my journey to Financial Independence?”
Maybe you’ve heard some buzz about FI and are just starting to read up on the topic. There are lots and lots of posts and articles out there that talk through the journey. There are also tried and true methods for getting out of debt and saving money out there. We’ll explore some of these later.
I’m writing this to the person out there that is lost, and feels overwhelmed. Maybe you are behind in your bills and having trouble making ends meet. Maybe you are overwhelmed with everything that is going on in the world, and don’t know what your first step should be. If this is you, then keep reading, this is for you.
The first step towards Financial Independence is to pay yourself a small sum of money.
You are probably scratching your head and thinking I’ve just gone crazy. “Mr. SiFi, you’re nuts. I have creditors on my butt, and need to put food on my table. What in the heck do you mean by saying that I need to pay myself first?”
This is a concept that I didn’t get for a LONG time. I was wondering around this earth for DECADES just spending money when I got it. For a long time, I tried to outran my stupidity and in effect lived paycheck to paycheck.
I used to think that by saving money, I was denying myself and my family something. Read that again… I used to think that by saving money, I was denying something to myself or my family.
Little did I know that saving money was the key to living a more stress-free life. It’s the key to unlocking financial independence! This clicked for me when I ready “The Richest Man in Babylon” by George Clason. In it the “Richest Man” explains that by saving money, we are really paying ourselves.
WHAT?!
You mean to tell me that when I save money, it’s like I’m PAYING MYSELF?
BOOM, Mind blown. That makes sense right?
It was a huge shift in perspective for me.
So for the first step towards FI, I want you to put aside $50. You are paying yourself this $50 and holding on to it until next month. You are worth it right? I’m sure that you have done something this month to earn that payment. Just pay yourself that $50 first, and we’ll explore the next step soon.
