Aussie FIRE | Financial Independence Retire Early cover image

Aussie FIRE | Financial Independence Retire Early

Chapter 6: Focus on savings before earnings

Jun 16, 2023
15:39

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Quick takeaways

  • Saving more than you earn is crucial for achieving financial independence, boosting your income is essential to expedite the journey towards financial freedom.

Deep dives

Focus on Savings Before Earnings

Saving more than you earn is crucial for achieving financial independence. The foundation of financial independence rests on the ability to save and invest a portion of your income. No matter how much you earn, if you spend more than you make, financial stability will remain elusive. The importance of saving can be likened to maintaining a healthy diet in fitness, with savings being the equivalent of eating the right foods. While earning more money is beneficial, increasing savings should be a primary focus.

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