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.