By admin@thesilverpetticoatreview.com 
Prioritize What Is Important
In this 30-day series on achieving financial independence, today’s focus is on prioritizing what truly matters.
As we discussed yesterday, cutting down on unnecessary spending can help you reach financial independence faster. This includes avoiding impulse buys and those small expenses that add up over time without you even noticing.
Take a common example: if you have lunch out with your colleagues every workday, it might cost around $10 each time. That doesn’t seem like much, right? However, if you work 5 days a week for 50 weeks a year, that adds up to about $2,500 a year just on lunch.
Now, think about what else you could do with that $2,500. Instead, you could bring leftovers from home. If you still want some social time, you could meet your colleagues for lunch twice a month. Leftovers are essentially free since they’re from meals you’ve already prepared. By doing this, you could keep $2,250 in your pocket by year-end.
Which would you prefer: having $2,250 saved or spending it on lunches you might not even remember? You can also suggest picnics in the park with your colleagues to stay social. Personally, I’d rather have the cash.
Remember, this saving is after-tax money, which means you’d actually need to earn around $3,000 before taxes to equal that $2,250. You could put these savings toward other financial goals and move closer to financial independence.
So, what’s more important to you? I always valued the money more. While I was working, I didn’t feel the need to go out for lunch with colleagues. My priority was to do my job well and make money; my social life was separate from work.
By prioritizing what’s important to you, you can cut back on non-essential spending. I spend a lot on travel, flights, hotels, and dining out because I love it and it’s where I choose to allocate my resources. Consequently, I don’t have a permanent home. Everything I own fits on my motorcycle, and I don’t pay rent for an unused apartment.
People often wonder how I travel so much and manage to afford it. They forget they are spending $1,200 on rent, $300 on utilities, and $500 on food and going out. On average, I spend less than $1,500 a month on my travel-focused lifestyle. Our priorities are simply different.
To start, jot down what truly matters to you. It could be family dinners, your children, vacations, or the comfort of your home. As for me, my priorities are travel, good food, technology, and high-quality, reliable items. I’m happy to spend more on those things.
Next, make a list of what isn’t as important to you. For me, that includes paying rent for an unused apartment, owning a car I don’t need, brand-name clothes (I prefer durable, high-quality items over fashion trends), and overpriced food and drinks in bars.
By knowing your priorities clearly, you can align your spending with them and save money on what matters less.