3 Simple Rules for a Bright Financial Future


Written by Liz

Just your regular 27-year-old, queer, super-introverted, FIRE-chasing, frugal Singaporean, who lives a pretty good life while earning only a modest salary, but still plans to retire at age 40 with $1,000,000. Click here to read more

April 23, 2018

In my previous post, The Most Important Thing to Spend your Money On, I discussed what we should be spending our money on, and what we shouldn’t be spending our money on.

What we shouldn’t be spending our money on is material junk. No material goods. No bags. No shoes. No suits. No cars. While some are necessities (and of course, we may indulge in the occasional ‘want’), most material things just clutter our lives.

So, what should we be spending our money on?


Freedom to be who you want to be. Freedom to do what you want to do. Freedom to command the hours of your day. Freedom from the cubicle.

Freedom to finally start loving your life.

Now that we’re on the same page about splurging our money on freedom instead of material stuff, here are the 3 simple rules you should follow for an insanely bright financial future.


First, Stop Buying So Much Material Crap.

Start eliminating unnecessary luxuries from your life. Get rid of all the expensive fancy stuff that doesn’t bring you happiness. Stop spending your hard-earned money trying to impress people you don’t know or don’t even care about.

At first, the going will be tough. You’d hear your usual Starbucks haunt whispering your name. The bistro around the corner won’t be embarrassed to tantalize you with a delectable, totally Instagram-worthy, but completely overpriced meal. You’d be itching to fiddle around with the latest iPhone, along with the gaggle of geese people queuing for hours just to get a taste.

But no, that won’t be you, the you who desperately wants your freedom. Instead, you’ll thrive on a budget, despite how ‘cheap’ or ‘broke’ everyone else thinks you are. You’ll put your blinders on and relentlessly put away a substantial amount of your pay each month.

Eventually, it’ll get easier. It’ll get easier and easier. Eventually, you’ll stop caring about what other people think. Eventually, you’ll learn how to live on less. Eventually, you’ll realise that happiness isn’t determined by the amount of money you spend on overpriced shit. Eventually, despite spending less, you’ll learn that you’ve become happier.


Second, Start Splurging on Freedom.

Now, you’ve got that whole savings thing down. You’re great at it, so now you need to do something with all that spare cash you have.

Splurge on low-cost index funds with a vengeance. Throw every dollar you can spare at investments. Or maybe you think the stock market would meet its impending crash soon, so you’re saving up to buy stocks at a steal. Or maybe you know exactly what you’re doing, buying underpriced stocks and selling them when they’re overpriced. It doesn’t matter, as long as you make the most out of compound interest.

That’s splurging on freedom.

Or maybe you want to build your own business. Or venture out into this world as a freelancer. Writer? Blogger? Musician? YouTuber? Photographer? Business owner? Whatever it is that makes your heart burst with joy.

You buy a website domain, some website themes, good website hosting. You purchase camera equipment or drones. You pick up a set of drums, or maybe a guitar. You pay for books or courses that teaches you how to do this, or how to do that, or how to do anything you’re interested in.

That’s splurging on freedom too.

You make your money work for you. Every dollar you spend has a purpose beyond trying to impress people you don’t give two hoots about. Every dollar you spend is another step towards unshackling yourself of your corporate chains. Another step towards chasing your dreams to the ends of this world, with undying passion and commitment.


Lastly, Understand that There is No Time Better than the Present.

If you’re waiting for the right time to stop buying more crap, now’s as good as any. There shouldn’t be some new iPhone, new car, new bag standing in your way of saving. Because unfortunately, there’ll always be some new iPhone, new car, new bag being produced.

We all know how efficient conglomerates are at making us part with our hard-earned money. We also know how fallible humans are when it comes to compulsively engaging in retail therapy.

And if you’re waiting for the right time to start splurging on freedom, now’s as good as any. Maybe you don’t want to start chasing your dreams yet because you’re not prepared. Maybe your corporate job is too demanding at the moment. Maybe you have a bunch of other commitments standing in your way – kids, a mortgage, a car loan, student debt.

Well, guess what? Sitting around and thinking about chasing your dreams isn’t going to make you more prepared. Your cubicle job is never going to get less tiring; corporations need to get their money’s worth. Those commitments are still going to be there six months from now, one year from now. Let’s say it takes you a decade to pay off your student loans, two decades to pay off your mortgage. Are you going to let life pass you by for the next two decades?

It’s time. Don’t wait till next month, or six months from now, or next year, or the year after. If you have an excuse today, there’ll always be some excuse holding you back.

Recognise the resistance that your brain is facing. Embrace the fact that it’s frightening. Understand that fear is normal. Then, take the plunge.

Start saving today. Then, start splurging on freedom. Start making your money work for you. Start chasing your dreams today.

Start loving your life today.




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