Lean FIRE is a variant of the FIRE movement that offers a quick path to retirement through saving enough for long-term sustenance. Unlike full FIRE, Lean FIRE requires a much smaller portfolio, making it ideal for low and medium-income earners. To achieve Lean FIRE, you have to accumulate a portfolio that can support a frugal …
The Ultimate Guide To Achieve LEAN FIRE: (Step-by-Step) Read More »
As humans, we naturally want to figure out how we’re doing compared to other people. Today, I’ll calculate how much people on average save monthly, so that you can know how well you’re doing. Let me get straight to the point: The average monthly household saving in The U.S. is $404. The median monthly savings …
This Is How Much People Save Per Month, On Average: Read More »
There are several ways of estimating how much you should save per day. Most people go for a percentage of their income, which is fine and well, but in my opinion rather arbitrary. In this article, we’ll do it more thoroughly. Here’s the short answer: Generally, you should save 20% of your annual income. To …
Freelancing has become one of the most popular ways to make a living in your own time, according to your own rules. But with the rising costs of living in the US, it’s becoming harder for freelancers to offset their expenses. Marketplace highlights that consumer prices jumped 9.1% in 2021, the highest it ever has …
How Forming an LLC Will Save Freelancers Money in the Long Run? Read More »
For most people, $400 isn’t life-changing money. But $400 a month, consistently, can be. Whether you’re saving for a vacation, a new car, retirement, or just to build up an emergency fund, $400 a month can be the difference between success and failure. Let me get straight to the point: To save $400 a month, …
Few people manage to save half of their income. But those who do, and stick with it over, are sure to be rewarded for it in the end. But just how good is it? How much better is it to save 50% rather than the average savings rate? Here’s the short answer: Yes, saving 50% …
Saving a quarter of your income is challenging, but doable. But is saving 25% good enough? Should you aim higher? Here’s the short answer: Yes, saving 25% of your income is good. It is five times better than the American average savings rate of 5%. Given a median income, saving 25% of that equals $14,153 …
Becoming rich is just a matter of accumulating enough assets, but can you get there through saving? No, saving money can not make you rich. You need to invest your money. The reason is that savings grow linearly while investments grow exponentially due to compound interest. I’ll give you a bunch of examples and charts …
Canceling Netflix will not make you rich. Dropping the occasional Starbucks coffee will not save your finances. In this article, I’ll give you a fast, no-BS way to consistently save a lot of money. Here’s the short answer: To save a lot of money fast, concentrate on housing, transportation, insurance and food. On average, these …
In this article, I’ll give you a list of calculations showing how much different sums saved weekly will turn into after one year. I’ll provide 52 different examples of weekly sums saved for a year. Oh, and if you’re a weekly saver, consider this cool challenge: Save the same amount of dollars as the week you’re in. …
If I Save X Per Week, How Much Will It Be In A Year? Read More »
