Camp FIRE Finance
Everyone know that debt sucks. But paying down debt is one of the major criteria to reach financial independence. You can’t repay your entire debt overnight. You have to be patient. There will be times when your progress will be slow and you’ll have to stay motivated until you’ve repaid that last cent.
Yep, debt sucks. Here are six ways you can stay patient and motivated while paying down debt.
The new hot item on the internet today is trying to become financially independent. It seems like I see one or two new blogs every day that promise their readers the path to financial independence and there is no shortage of web forums that are doing the same. FIRE is a worthwhile goal, but it’ll never work unless you create a recession proof financial plan as well.
The burnout rates in practicing physicians and physicians in training (medical students, residents, and fellows) are simply alarming. The problem seems to be getting worse with the decreasing autonomy, unhelpful/encroaching administrators, and the ever increasing financial burden of our student loans.
While you may think that physician burnout only impacts doctors, evidence shows that it unfortunately leads to bad medical care for our patients, too. With that big of a problem, what would you think if I told you that financial independence may have the power to save our physicians?
Let’s dig in.
The steps to financial freedom are not ‘one size fits all.’ Many people believe that financial freedom is all about their finances, there’s more to it than just that – it’s about more than money.
Sure, you can achieve financial freedom through proper financial planning and following all of the key personal financial ratios.
You should follow solid financial practices like creating a budget, monitoring and controlling your expenses, and saving a good percentage of your money.
Generating multiple sources of income and making numerous investments to help increase your cash flow will also help you achieve financial freedom. But, there is more to financial freedom than just the state of your budget and your portfolio.
Teaching English in Asia isn’t something I knew I wanted to do. Just a few short years ago I was spinning my tires as a mediocre automobile salesperson near my hometown in Canada. I was days away from putting an offer in on some real estate that was sure to make me house poor. Life was steady, puttering away at a normal pace of retiring in my golden years.
Then the perfect storm occurred to shake my life up in a way I would have never imagined.
