Stay in touch:

Financial independence the thrifty way

Welcome to The Thrifty Choice where we dig into topics like investing, early retirement and being financially independent.

I'm Thrifty-B and together with my wife Thrifty-Wife and new born son Thrifty-Junior we plan on being financially independent within 10 years.

Being financialy independent means not being a slave to our salaries, owning our time and being free to pursue any job, passion or hobby that brings us fulfillment regardless of money.

I hope you follow our journey and find value in the articles, calculators and tips posted along the way.

The Thrifty Choice
  • Eliminate debt.
  • Lower expenses by being thrifty.
  • Invest at least 50% of all income.
  • Reach financial independence and retirement within 10 years.

Tracking your savings rate is a major corner stone metric when it comes to the financial independence journey.

Savings rate is simply a percentage calculated by taking the amount you save each month and dividing it by your income.

Given how complex defining income can be, is there perhaps a simpler, more accurate and ultimately more useful way to represent how much we're squirrelling away for FI?

What's more impactful on your financial future between lowering expenses or receiving a financial windfall?

Most people with bad money habits and a mountain of debt live in constant hope of receiving a financial windfall to solve all their problems. But what if there was another option to secure your financial future that you could start doing right away?

Lowering your cost of living might not sound sexy, but take a look at these numbers and you might be surprised at how they can change your future.

When investing for retirement or financial independence, it's tempting to get caught up in stock picking. We all want to get the best returns possible on our money and find that hidden stock that's destined to increase one hundred fold.

But is picking winning stocks the only way to ensure a comfortable retirement?

Insurance is a grudge purchase which we tend to set and forget. We push it to the back of our mind, diligently pay our premiums and hope that we didn't miss any fine print if we ever need to claim one day.

As our lifestyle changes, it's important to review our insurance so that we aren't under or over insured. As much as we all hate paying those premiums, it's a harder pill to swallow finding out when we claim that we're not as well covered as we thought.