Posts by Fiology

How To Get Out of Debt in Order To Build Wealth

Fiology Lesson 8: Overcome Debt

Having debt and planning to be Financially Independent feels like starting a baseball game already down five runs. It’s a tough position to be in for sure. However, the good news is you have the ability to come back from your deficit. And before you know it, you’ll be toasting to your well-earned victory. There … Read more

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How to Budget For Financial Independence

This is the Fiology lesson image for how to budget for financial independence. It shows a man and a woman tossing money into the air carelessly. It has the quote "A budget is telling your money where to go instead of wondering where it went." by John C. Maxwell.

Do you know how to budget? There are many philosophies and tools to be familiar with when deciding to give budgeting a try. The first step in developing a budget is tracking your spending. We need be aware of where our money is going and reroute it to where we know it will make a … Read more

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Compound Interest Can Make You Rich!

This is the header image for the Fiology lesson Compound Interest Can Make You Rich! It displays mature trees to act as a metaphor for the how compound interest grows and strengthens our net worth over time.

THE MIRACLE OF COMPOUND INTEREST

Discussion: Compound Interest has been referred to as the 8th Wonder of the World.  Whether Einstein actually said that or not is debatable but what is not up for debate is the ridiculous phenomenon of Compound Interest.  Sure, we’ve all heard the term Compound Interest but how many of us have truly explored its power?  The content in this lesson refreshes our understanding of Compound Interest and brings to the forefront just how positive a force this can have on our lives and the lives of those we care about.  As we go through these presentations, focus on the element of time and how even a seemingly small money move made today can result in long-term wealth.

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“The Big Three” Household Expenses

Fiology Lesson 5: The Big Three

Housing, transportation and food are the commonly referred to as the “Big Three” of household expenses. In general, people spend the most of their money on these three recurring expenses. The more money we have after paying our expenses, the more we can invest. Depending on our circumstances, we may not be able to make … Read more

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What Are the Milestones of Financial Independence?

This is the header graphic for the Fiology Lesson that discusses the milestones of financial independence. The photo displays a group of people with their hands raised in victory for reaching their goal.

The Milestones of Financial Independence (FI) are checkpoints along our FI journey that represent significant accomplishments. They allow us to acknowledge our successes of the past and look forward to our next achievements. The Milestones of FI make it clear that FI itself isn’t a specific number in your bank account. In addition to getting … Read more

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How Much Money Do I Need to Be Financially Independent?

This is the lesson image for Fiology Lesson 3 How much money do I need to be financially independent? It displays a woman placing coins in a pink piggy bank.

Discussion: The traditional investment advice of save 10-15% of your income until you are 65 and you’ll be able to do with your money and your time as you please just doesn’t cut it for those of us who want more out of the brief time we have here on Earth.  We strive to achieve Financial Independence so that we can control what we do with our time as much as practically possible.  Once we determine Financial Independence is the right journey for us, we need to determine the amount of assets needed to provide income for expenses during the Financial Independent phase of our lives.

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Your Why of Financial Independence

This is the lesson header image for the Fiology lesson that helps you determine why you want to pursue Financial Independence.

Discussion:  You understand the definition of Financial Independence.  You are intrigued enough to pursue FI, but why?  It is important to know the why because this journey can be long, challenging, at times boring, and daunting.  The “why” will be needed to help you maintain your motivation?  It will also help you justify your journey when others take notice or are interested in beginning their FI journey.

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What Does Financial Independence Mean?

What Does Financial Independence Mean to Me?

Discussion: Financial Independence generally means having a net worth providing an amount of passive or near passive income that allows a person to no longer actively work for money if he or she chooses.  In future lessons, a foundation of knowledge will be offered and that will provide some of the “how” to reach FI.  It is important to determine what FI means to you.  If we understand the objective, we will better maintain focus during our dynamic journey.

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Free Financial Independence Course

Fiology is a Free Financial Independence Course that answers the question: “What do I need to know in order to plan for and achieve Financial Independence?” Yes, it is completely free. Financial Independence: The term “Financial Independence” returns 175,000,000 results when Googled. There are thousands of sites providing quality information promoting Financial Independence (FI).  This … Read more

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