The Frugal Fren on Nostr: Levels of financial independence: ⚠️ Dependence: You spend more than you earn. ...
Levels of financial independence:
⚠️ Dependence: You spend more than you earn. Your income is not enough to support your life and your debts.
0️⃣ Self-sufficient-ness: You spend less than you earn. Your salary is enough to finance your life and your debts.
1️⃣ Stability: You have no consumer debt, and you saved your monthly cost multiple times (emergency fund).
2️⃣ Debt Freedom: You paid off your high-interest debts.
3️⃣ Starter Saver: You saved 1 times your current annual expenses.
4️⃣ Medium Saver: You saved 5 times your current annual expenses.
5️⃣ Expert Saver: You saved 10 times your current annual expenses.
6️⃣ Financial Security: Your saving's cashflow pays your basic survival needs for the rest of your life. (Eating ramen and housing)
7️⃣ Financial Independence: Your saving's cashflow pays your current lifestyle for the rest of your life.
8️⃣ Financial Freedom: Your saving's cashflow pays your wanted lifestyle.
9️⃣ Financial Abundance: Your saving's cashflow provide you more money then you will ever need.
Use this as a guide to find your current level, and to set goals for yourself to reach the next step.
#financialindependence #financialfreedom #fire #retireearly #grownostr #plebchain #coffeechain #value4value #valueforvalue #money #finance
⚠️ Dependence: You spend more than you earn. Your income is not enough to support your life and your debts.
0️⃣ Self-sufficient-ness: You spend less than you earn. Your salary is enough to finance your life and your debts.
1️⃣ Stability: You have no consumer debt, and you saved your monthly cost multiple times (emergency fund).
2️⃣ Debt Freedom: You paid off your high-interest debts.
3️⃣ Starter Saver: You saved 1 times your current annual expenses.
4️⃣ Medium Saver: You saved 5 times your current annual expenses.
5️⃣ Expert Saver: You saved 10 times your current annual expenses.
6️⃣ Financial Security: Your saving's cashflow pays your basic survival needs for the rest of your life. (Eating ramen and housing)
7️⃣ Financial Independence: Your saving's cashflow pays your current lifestyle for the rest of your life.
8️⃣ Financial Freedom: Your saving's cashflow pays your wanted lifestyle.
9️⃣ Financial Abundance: Your saving's cashflow provide you more money then you will ever need.
Use this as a guide to find your current level, and to set goals for yourself to reach the next step.
#financialindependence #financialfreedom #fire #retireearly #grownostr #plebchain #coffeechain #value4value #valueforvalue #money #finance