A lovely, kind reader has sent me some scanned copies of some actual issues of the The Tightwad Gazette. I am really excited to read them – thanks so much, Gill! In one of them there is an absolutely fabulous article about financial independence (FI).
This is a concept I only recently became aware of when I read a book Your Money or Your Life, by Vicki Robin and Joe Dominguez, recommended by Ilona from Life After Money. I whizzed through it, but have yet to work through all of the exercises in it. This article has inspired me to have another go.
Frugality goes only so far
I am very frugal and strive to save as much as I can, but I don’t earn enough to save the kind of money that will enable me to retire very early. I am simply hoping to save a decent contingency fund and buy a camper van. Yet I am sure following the programme towards financial independence in Your Money or Your Life would enable me to achieve this more quickly.
In the book there are many stories of people striving to save a large amount of their income (sometimes as much as 50-75%!). Their aim is to retire in their 30’s and 40’s, quitting the rat race to pursue activities that make them happy and fulfilled. They do this by reducing their outgoings, living frugally and seeking to increase their incomes through various means and investments.
Step into the Frugal Woods
The internet is awash with people attempting to do the same today. There are blogs and Twitter accounts aplenty inviting you to follow their journeys towards financial independence and offering to show you the way.
One that was recently recommended to me by a reader is Frugalwoods.com, which I am enjoying immensely. It is well written and inspiring. These people leave me wishing I had come across the idea of frugality many years ago. Take a look!
Are you working towards financial independence? How is your journey going?
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