Rarely in life do we reach a goal instantly or improve at something dramatically. It takes constant improvement over the long term that will turn the tide in our favor. That concept is "Kaizen". It means a little improvement everyday, until we reach our desired outcome.
So, let's apply that to our own journey to FIRE. What if we could improve a little bit everyday, or month, just maybe 1%. How much could we speed up our timeline to become financially independent? 1 year, 5 years, 10 years faster?
Improve just 1% everyday or every month
How can I apply this concept for FIRE in my life? You can put this to work in many ways, cutting that ridiculously expensive cable bill, negotiating a lower monthly rate for internet, or installing LED lightbulbs in your home that will pay for themselves overtime and save on your energy bill.
Examples of these little changes:
-Negotiate for a lower payment on internet
-Don't buy coffee outside the home
-Bring lunch from home to work
-Install a smart thermostat to control heat
-Get a quote for cheaper car insurance
-Cancel a monthly subscription
-Bike to work a few days a week
-Get a library card instead of buying books
-Hang your clothes to dry instead of using a dryer
-Create a budget
These littles things will add up over time and create a big impact to your bottom line, giving you more resources to invest. This will increase your speed at which you build equity in whatever asset class you choose, getting you to FIRE faster and faster. Imagine you're in an airplane gaining speed down the runway, until you have enough speed for liftoff. That is us on our journey to FIRE, gaining enough passive income, until we can achieve liftoff or financial independence.
How many times have you tried something new, a new diet, a new workout routine, only to quit it after a short while. The change was huge from what you were used to and when it became too inconvenient or something got in the way, you stopped. That's the reason why we're making smaller changes every day, not large ones, but small ones. These smaller changes over time make it much easier to stick with them as they essentially become who we are as a person. Give it a try and see how easy it can be.
Now you can create large changes too, and I recommend those as well. They might be a little more difficult to stick with but will do wonders to your move towards FIRE.
Larger, more difficult changes:
What can you do to improve just 1% today or this week? There must be something that you can think of to change that will increase your speed to FIRE. Hopefully sooner rather than later, you'll be airborne. Good luck out there and remember to be FireMinded!