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Tag: expenses

Know your expenses

Know your expenses

How do you know how much you’re going to need in the future, whether it’s for retirement or early retirement? It’s simple but not as simple. What are your expenses going to be? What income and/or cash flow will you have? Two simple questions but not that easy to answer. Plus, who can predict what their expenses will truly be? One key to financial independence success is to know your expenses. Recently, I had to help my mom, who is…

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Controllable and uncontrollable expenses

Controllable and uncontrollable expenses

Expenses are the things you spend your money on. For example, food is an expense. If you have a car, car insurance is an expense. If you rent an apartment, monthly rent is an expense. If you eat out, that is an expense. And the list of expenses can go on and on and on. If your expenses are more than your income, you’re in negative territory. If you are breaking even, you’re living paycheck to paycheck. If you’re income…

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