{"id":49,"date":"2019-07-09T20:48:43","date_gmt":"2019-07-10T02:48:43","guid":{"rendered":"https:\/\/modernfimily.com\/?p=49"},"modified":"2020-12-10T00:22:02","modified_gmt":"2020-12-10T07:22:02","slug":"the-financial-independence-lifestyle","status":"publish","type":"post","link":"https:\/\/modernfimily.com\/the-financial-independence-lifestyle\/","title":{"rendered":"The Financial Independence Lifestyle"},"content":{"rendered":"\r\n

When we first heard of FIRE, we could barely contain our excitement.<\/p>\r\n\r\n\r\n\r\n

Not HAVE to work ever again? Sounds blissful, no? How is this even possible? Everyone we know is drowning in debt. All we had ever known at this point was to work, work, work, and hopefully retire by 65.<\/p>\r\n\r\n\r\n\r\n

We were curious how this would look, achieving this new and bold goal of ours, and we started to analyze our finances to see if it was attainable for us. Here is what we learned.<\/p>\r\n\r\n\r\n\r\n

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The idea of FIRE is enticing, more so if you dislike your job. It provides many people with a \u201clight at the end of the tunnel\u201d. Some find themselves thinking that if they can just hardcore save and invest their money for a set amount of years, once they\u2019ve reached their golden financial independence number, life will be smooth sailing. What most DON’T consider, is that it\u2019s not sustainable to deprive yourself this way in the long term.<\/p>\r\n\r\n\r\n\r\n

When we first discussed financial independence, we tried to \u201cmath up\u201d all of our finances and find out the absolute quickest path.<\/p>\r\n\r\n\r\n\r\n

We found we could reach FI faster if Nic picked up all the overtime shifts available to her, or if we never went out to eat, or if we never spent money on events we might want to attend.\u00a0 We could get there quicker if we never traveled, skipped visiting friends who live far away, or stopped going to Canada for Christmas. We thought, “What if we didn\u2019t buy new clothes for the next 10 years?! We could save ALL that money!” We could elope and forget about having a wedding, which would save us thousands, even though we might feel like we missed out on celebrating our love with those we love.<\/p>\r\n\r\n\r\n\r\n

It would be all in the name of freedom, which would be worth it, right? For us, this felt oh so wrong.<\/p>\r\n\r\n\r\n\r\n

While it looked great on paper, it was an impossible task for us to cut out SO many things we valued immensely. We took a step back and discussed openly and honestly what we both truly value and what we want our lives to consist of.<\/p>\r\n\r\n\r\n\r\n

Some of our more expensive must haves included: travel, spending time with family & friends, eating out occasionally as a treat (we like to prioritize these meals out to be those that we can’t easily make at home), skiing, and living in a rather expensive area due to its proximity to the mountains.<\/p>\r\n\r\n\r\n\r\n

Nature is our therapist and we love spending time in the mountains. While living in Florida, we would spend as much of our time off work as we could away from Florida travelling to mountainous areas to enjoy (mostly free) activities such as hiking and camping. Even with travel hacking, all of that travel cost money, and more importantly, time.<\/p>\r\n\r\n\r\n\r\n

We decided to make a leap across the continent to live in a more expensive area, but an area where traveling places we want to explore is a quick day trip drive rather than a long flight. We can sleep in our own house instead of hotels and cook meals at home to bring along with us instead of dining out for multiple days at a time.<\/p>\r\n\r\n\r\n\r\n

The point is, financial independence is about BALANCE.<\/p>\r\n\r\n\r\n\r\n

This journey is about creating a sustainable lifestyle for you (and your family), that doesn\u2019t feel like deprivation. And everyone’s version of this looks different.\u00a0 There’s no set time frame that you must reach FI by.\u00a0 As long as you are enjoying the journey along the way, you’re doing it right.\u00a0 It’s about figuring out the necessary mindset shift that the fancy house, cars, clothes etc may not be bringing you the happiness you once thought it would.<\/p>\r\n\r\n\r\n\r\n

If you feel deprived, you will not make it for the long haul. The key is to spend some time to really figure out what in life truly brings you happiness. Focus your time and spending in those areas and slash out whatever does not bring you joy. Think of it as the full on Marie Kondo exercise of life – not just the contents of your home.<\/p>\r\n\r\n\r\n\r\n

Try taking things slow, instead of jumping in and cutting out EVERYTHING all at once. Down grade that phone plan, don\u2019t get rid of it. Try to cook most of your meals at home, if you don’t do so already, and go out to eat fewer nights each week. Slowly you can try to adjust that to only going out to eat 1-2 nights a month if you choose. Try taking a 30 day detox from your TV (you’ll likely find you have so much more time to yourself than you ever imagined!). Take a look at all your automatic subscriptions purchases and evaluate if they are giving you joy still or not. Figure out ways you can be resourceful and do things on your own rather than paying for external services to save some money.<\/p>\r\n\r\n\r\n\r\n

While we are rather insistent on not spending spontaneous dollars, when we feel an urge to not cook and order in or dine out, we go for it. The biggest thing is that it\u2019s very occasional, so when we do grab food from a restaurant it feels like a treat. And when it feels like a treat, it feels like it\u2019s worth the money you spent. We don\u2019t feel guilty about occasionally splurging on a big dinner out, because we know it isn\u2019t something we do every day.\u00a0 A big dinner out happens a few times a year for us.<\/p>\r\n\r\n\r\n\r\n

We encourage you to look at your own lifestyle, your own choices. Think about the things that you feel truly add value to your life, write them down. If you’re part of a family, have each person in your family unit do this. Compare your notes, the simplicity and similarities might surprise you.<\/p>\r\n\r\n\r\n\r\n

Let us know what part of this post really resonates with you in the comments below!<\/p>\r\n

Support This Blog<\/h2>\r\n

If you liked this article and want more content like this, please support this blog by sharing it.\u00a0 Not only does it help spread the FIRE, but it lets me know what content you find beneficial.\u00a0 Writing is NOT my strong suit and it honestly takes me hours to write each post so the more encouragement the better!\u00a0 Engaging in the comments below keeps me motivated.\u00a0 You can also support this blog by subscribing to receive emails anytime a new post is published.\u00a0 Thank you FImily!<\/p>\r\n

We believe in stacking up life hacks to keep your enjoyment levels to the max without depleting your bank account.\u00a0 Here are some ways to further educate yourself and save thousands of dollars over your lifetime by making some simple adjustments:<\/p>\r\n