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Welcome to another edition of #AusFIWeekly. You’ll find great handpicked Financial Independence links from Australia and abroad – brought to you by Michelle, a mid-30s semi-retiree sharing my FI adventures at FrugalityandFreedom.com.
I took today’s cover photo during one of the Australia-wide #March4Justice events, calling for action against gendered violence. While there is still plenty of disparity in the financial situations of women and men, it’s worth mentioning that financial abuse is a common feature in domestic violence situations. Learn more about financial abuse here, including resources to help or share. #EnoughIsEnough
Australian Links
How We Removed 80% of Our Unhappiness in The Home – Keepin’ It Frugal
In 2020, we removed 80% of our unhappiness in the home. Using the 80/20 rule, we took stock of what grated on us most, and one by one started eliminating them. The results were huge.
How Lifestyle Creep Can Help You Save Money (Yes, Really) – Project Palm Tree
“While I think that offering such warnings to these younger people is not a bad thing, you shouldn’t feel bad if you yourself have ‘fallen victim’ to Lifestyle Creep. Let me show you exactly what Lifestyle Creep is and why reversing Lifestyle Inflation in midlife can help you catch up your retirement savings faster and retire earlier.”
The Rule of 72 – But Wait… There’s Less!
“No need for fancy exponential maths. Just simple division and some doubling.
Years to double = 72 / growth rate
That’s it. Pretty simple. Just 72 divided by a number.
At 6% it would take 12 years, and at 8% it would take 9 years.”
How to Achieve Financial Fitness – Aussie Doc Freedom
“Achieving financial goals is similar in many ways to reaching fitness goals. Building financial fitness is a long term project that needs to become a habit, like your daily run.”
International Links
Richard Branson, Over-Sharing, and How to Talk About FIRE – Joel, Budgets are Sexy (USA)
“When I first heard about the FIRE movement, I was so excited I wanted to share it with everybody. But many humans still think financial independence (and retiring early) is a grand and wacky idea. Sometimes if I talk about money too quickly, too enthusiastically, or too often, people can get turned off. I sound like a nut job. Now, I’m learning to ease into the conversation when meeting new people.”
Programming Your Mind For Wealth w/ Life Outside The Maze – Earn & Invest podcast (USA)
“Is optimism the key? We talk to Chris from Life Outside The Maze about the benefits of positive thinking including success, health, and wealth.”
14 Life Lessons I learned From the Year of Corona – A Dime Saved (USA)
“People are amazing and have so much ingenuity. When corona hit, I was flabbergasted (in a good way) at the incredible way people adapted to the new reality. From teachers who switched to online platforms to people who started businesses to cater to the new world to non-profits who switched their services to help people in need- I was amazed and awed.”
The Secret to Saving 50% – Retire by 40 (USA)
“Personally, I encourage everyone to shoot for 50% saving rate. This is a good compromise between the length of time (how long you need to work) and how much you can realistically save. At 50% saving rate, it will take 16 years to reach financial independence. That’s a long time, but not really that long compared to a normal working life (40+ years).”
Missed one? Read the archives here. Or get in touch if you have any FI content recommendations.
Yours in pursuit of FI,
Michelle @ Frugality and Freedom
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