facebookHow are you adjusting your lifestyle and/or investments to manage your expenses? Asking because I still want to achieve F.I.R.E by 50 but inflation... - Seedly

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Anonymous

Edited 17 Nov 2022

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Saving Hacks

How are you adjusting your lifestyle and/or investments to manage your expenses? Asking because I still want to achieve F.I.R.E by 50 but inflation...

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I have somewhat reached a stage where I think through what I want vs what I need. And guess what? I found that I dont need a lot of things. Hence, to me it's more of a mindset change rather than lifestyle change.Many had mentioned to do what is essential for a change, what I would say it's a balance of your long term goal & short term goals.

Kent Toh

16 Dec 2022

Consultant at Sprinklr

I rather adjust the mindset, than adjust the lifestyle. Inflation is bound to happen, so does it mean you need to constantly reduce your expenses? How about finding ways and working harder to get more income to support the lifestyle you want? Do you really need to retire at 50?

Reduce impulse purchases and categorise buys into wants vs needs.

Set a saving target so that u can reach your FIRE goal.

From there set a budget to control your expenses.

As for investment, difficult to estimate so can take it as bonus.

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Monitoring my expenses and cut down unncesssary items....

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