Favorite Financial Tips
I didn’t grow up with financially stable role models, so there are many things I wish I had learned much sooner. A few of my favorite financial tips would be learning about Coast F.I., the benefits of an extended pantry, and how much having a strong WHY can help you reach your goals.
Coast F.I.
Coast F.I. is a subset of the F.I.R.E. movement (Financial Independence, Retire Early). This is a strategy that involves saving and investing more aggressively earlier in your working years, allowing you to ease up on your contributions later and start enjoying life even before retirement. Achieving Coast F.I. can reduce financial stress, provide greater flexibility in career choices, and offer more time and money for personal interests.
If you want to learn more about Coast F.I. or any of the F.I.R.E. types, check out the links below.
Coast F.I. blog post
F.I.R.E. Community page
Extended Pantry
An extended pantry can provide financial stability and peace of mind during emergencies, even personal ones. It can act as your personal warehouse, be a great money-saving tool, and be an extension to your emergency fund.
To learn more about extended pantries, check out the links below.
Stock-up Pantries blog post
Lessons of 2020 page
A Strong WHY
A specific goal and a strong “WHY” can help keep you motivated, especially during tough times. A strong “why” enables you to resist spending temptations allowing you to achieve your financial goal faster. They also say you’re 42% more likely to achieve your goal if it’s written down, so make specific goals, find a strong why, and write it down!
What are some of your favorite financial tips, or what financial information have you learned that you wish you would have learned sooner? I would love to know as we are all learning together, and we can pass these along to help teach the next generations.
