If you type in financial independence or early retirement in google, you will come across a multitude of hard core bad ass folks saving aggressively for financial freedom. By aggressively, I mean they are spending $20K a year on total living expenses and are saving 50%, sometimes up to 80% of their income.
When I see stories and spending habits like that, I am both inspired and intimidated at the same time. My first thoughts are, “There is no way I could live like that”, “I live in a HCOL area, and I have no intentions to move, so that’s not happening” , “I have too many financial responsibilities and bills”, etc.
This is the way of thinking turns most people off from starting on the journey to saving/investing which is the ultimate path to real wealth. It’s this perception that is has to be an all or nothing approach that scares many people away from even starting on their journey of financial freedom. But it doesn’t have to be all or nothing, it doesn’t have to be so radical, and the changes don’t have to happen overnight. There is the internal struggle for many people who like the idea of planning for the future but who want to live in the moment. [Read more…] about Moderate Personal Finance