Pro Tips to Accelerating Your Financial Independence
- When you score a raise or bonus, invest at least half of it for the future - this is the most painless way of increasing your savings rate.
- Whenever you pay off a loan or credit card, increase your savings by the same amount you no longer need to send to your creditor. This is another relatively painless way to save more.
- Every few months, review your spending and trim 3% off each discretionary category (e.g., eating out, shows, etc.).
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- Avoid immediate disaster. Request bill extensions or payments plans from creditors.
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