Save Money & Avoid Fixed Expenses To Have Options

Even if you are not trying to retire early, you should save money and avoid fixed expenses to have options in life.

Car payments, credit card debt and student loans could all keep you locked in that damn hamster wheel. 

I mean, it’s awesome if that lifestyle makes you happy. That’s great. But it’s not how I define progress. 

Progress Is About Expanding Your Options

My definition of progress is not limited to job titles or an extra 5, 10 or 20k per year.

Yes, earning more money is awesome, and it certainly contributes to having more options.

However, an extra 20k per year is meaningless if it doesn’t improve your life or if it fails to expand your options. I think it’s even worse if that extra 20k takes away from the lifestyle you want.

Personally, I’d prefer to earn less and enjoy my day to day lifestyle rather than earn more but be forced to spend my time doing tasks I dislike.

What’s really different about your lifestyle if you’re still living paycheque to paycheque anyways? That situation does not offer any flexibility to take on risk.

On the other hand, saving money and avoiding fixed expenses opens up your ability to take on new opportunities.

Pursue Work You Love

One of the main benefits of saving money and avoiding fixed expenses is the ability to pursue work you love.

Since I’ve been a consistent saver and because I’ve avoided fixed expenses like car payments, I’ve already put myself in a better position to take on risks. And I’m not even close to FI yet.

For example, I am currently pursuing a part-time job…

Yeahhhhh, you heard that right. I’m in my 30’s and I’m pursuing part-time work. Albeit, it’s much higher paying part-time work. But I wouldn’t be able to take on this risk if I had’ve succumbed to the hamster wheel culture. 

Further, I never would’ve had the opportunity to do something extraordinary like taking a year off work.

Concluding Thoughts – FI Is To Have Options

The key takeaway here is to focus on values.

There are a lot of people who appear to have everything. They might earn more and their lifestyle might appear better on Instagram. But if you take a deep enough look, they’re trapped by fixed expenses and because they do not have any money saved.

It is important to note that I believe people should spend money on what makes them happy. 

If you’re a car enthusiast, then by all means, enjoy cars. If you love to travel, which is something I love because of photography, please travel often.

At the end of the day, we only live once and nothing in life is ever promised.

If you focus on building around your values, though, it is possible to create a more explorative lifestyle full of options.

In conclusion, even if you’re not trying to reach early retirement, save money by paying yourself first to be prepared for exciting options that will eventually come your way. Whether it’s a job opportunity or what have you.

Moreover, avoid fixed expenses that subtract from your values. You just never know what opportunities may come your way. 

It’s better to have those options than live a life of regret.

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I am not a licensed investment or tax adviser. All opinions are my own. This post contains advertisements by Google Adsense. This post also contains internal links and links to RTC social media accounts.

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