Income – Expenses = Financial Independence Fuel (aka the potential to save)
Let us look at an example:
Income = $7k/month
Expenses = $5k/month
Fuel = $2k/month
Often, we focus on reducing expenses. If there are areas that can be reduced, awesome! However, we only have the potential to lower our expenses so much ($5k in this example).
In comparison, we have the potential to increase our income exponentially.
Don’t just focus on decreasing expenses, but in the power of investing in yourself to increase income.
Information in this material is for general information only and not intended as investment, tax or legal advice. Please consult the appropriate professionals for specific information regarding your individual situation prior to making any financial decision.