The Number That Will Change The Way You Save Money

In this video, we'll go through what is the most important number that will determine how quickly you can reach financial independence. F.I. is less about being able to quit your job and more about putting yourself in a position to be able to have more control over your life.
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The most important number that will determine how quickly you can reach financial independence is your savings rate. This number is more important than what you invest your money into and the return on investment you receive. Your savings rate is calculated by taking your income minus your expenses and then dividing that number by your income. The reason this number is so important is that the more you're able to save and the less you're able to live on, the faster you'll be financially independent. The saving side of the equation is important but you'll need to find a healthy balance. While I think it's important to continue spending money on the things that are important, you'll want to make sure it doesn't get out of control. Ideally, you'll want to match your spending with your values. That way you're able to figure out what makes sense to spend money on and what makes sense to cut from your expenses. The other side of your savings rate is your income. This should be the main area to focus on because there is no limit as to how much money you make. Increasing your income can be done through a raise at work, getting a new job or position that pays more money, cash bonuses, or some sort of side hustle that you can do in your free time.
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Disclaimer: This video is for entertainment purposes only. Everyone's situation is different so do your own research before making any decisions with your money. If you need help then contact a Certified Financial Fiduciary before trying anything that is mentioned in this video. I prefer a Fiduciary financial advisor that charges an hourly fee as opposed to an ongoing fee based on a % of your portfolio. Always remember that incentives determine the type of advice they give you so one that charges an hourly fee is less likely to be problematic.