Saving money is something most young people struggle with. But to save money in college or in high school is vitally important to your future. This article introduces you to the basics of frugality and gives some specific ideas to save money now.
Most people consider all assets the same. They define an asset as follows: “Something one owns that has monetary value.” This definition is widely recognized and accepted. Using this definition, you could make a list of the many assets you own.
Let me introduce you to my friend Craig Curelop. I met him at a real estate meet up. His story is quite impressive but, at the same time, absolutely repeatable by you. His story was so notable that I invited him to speak to my students, and he’s been willing to do so on many occasions.
First off, it’s not a race. Please don’t go to your parents and say, “I bet I can retire before you!” But if this idea sounds attractive or appealing to you, then make it your own secret goal.
If you want to be a Financial Independence Freak, you need to know some basic terms.
The skill of managing our money is a frequent victim of this philosophy. When most are young they don’t like to “waste” time learning about money; there are too many fun things to do. But you need to start educating yourself on personal finance topics NOW. Not in 5 years. Not in 10 years. NOW.
Once you understand passive income and how it works, your life will never be the same, and this is a very good thing.
A freak knows they must break these 7 Life Rules!
Financial Independence = the point at which one’s passive income plus sustainable asset withdrawal is greater than their living expenses indicating that the individual no longer has to work for money.
Freak (n): a person who has withdrawn from normal behavior and activities to pursue one interest or obsession One who is markedly exceptional or extraordinary SheeksFreak (n): A young person obsessed with making intelligent financial decisions to allow themselves to reach early financial independence and live their best life SheeksFreaks learn and think about the… Read more »