Money on the Fast Lane: Tips To Speed Up Financial Independence

It’s not uncommon for people to be disappointed when they realize how long it will take them to save the money they need to so they can officially declare themselves part of the  FIRE family.

It’s natural to want to speed up this journey when you know how satisfying the destination will be. Here are some helpful tips which can get you to where you want to be faster.

One of the fastest ways to increase your bank account balance is to sell off things you no longer need.

#1 Sell Assets You Don’t Need

#2 Use Debt Smartly

People can take too simplistic a view of debt and when used smartly it can help you to a healthier long-term  financial situation.

#3 Track Ruthlessly

If you have a target age in mind for financial independence, the only way you can know whether you are on schedule is to track ruthlessly.

#4 Invest Passively

It’s easy to get sucked into scams when you become too obsessed with a FIRE lifestyle. If the results seem too good to be true on social media, they  often are.

#5 Buy Quality

Being financially responsible and being cheap isn’t the same thing. You want to build a sustainable base for your future self not be caught up in  the present.

FOR MORE ABOUT TIPS TO SPEED UP FINANCIAL INDEPENDENCE, VISIT RADICAL FIRE