Slow Living: Find Peace, Balance, and Calm in Hustle Society Financial Literacy
Mar 11, 2024
Dive into the journey of financial literacy as personal stories reveal the impact of money choices on a slow-paced life. Learn how early habits of frugality shaped a future full of freedom and empowerment. Discover the importance of researching financial advice yourself and the principles of the FIRE movement, including finding your FI number. Hear about overcoming debt, the art of investing, and practical tips like meal planning that can help save money. Plus, insights on teaching kids valuable financial skills for a sound future.
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Calculate Your Financial Independence Number
- Calculate your FI number by multiplying your annual expenses by 25 to estimate the nest egg you need for financial independence.
- Use a ~4% withdrawal rule as a rough guideline for annual retirement income from that savings.
Own Your Financial Education
- Take responsibility for your finances; no one will save you or always act in your best interest.
- Research widely and filter advice through your values before acting.
Grandparents' Frugality Shaped Habits
- Stephanie grew up with frugal grandparents who saved food and reused items, shaping her money habits.
- Those childhood practices instilled long-term thrift and resourcefulness.