Prairie FIRE Canada

month

January 2019

Why I am treating my personal finances like a business.

The reality is that we are all running two types of business when it comes to personal finance: (1) An Active Labour Business; (2) A Passive Investment  Business.

The Missing Link to FI

In my wild and crazy journey in discovering the FIRE movement, I was inspired to create and stick to a budget, and I began tracking my net worth over time. By doing this over a year, I discovered something that was so obvious that I think many bloggers and personal finance gurus take for granted.

I call it the “Missing Link.” What I finally discovered was that your net worth is totally savings dependent. The fastest way to FI is to manage your budget well and use your savings to either purchase assets or pay down debt (preferably both).

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