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Day 1: What is your Why of FI?

Thank you for joining us here at the 5 Day FI Challenge!

This is five days of action that will propel you on your path to financial independence.

As our name suggests choosing financial independence is the key because the path to FI is a mindset.

It’s not a set of rules and it certainly isn’t a get rich quick scheme.

It’s a long-term path to success. It’s a community of millions of people all across the world who realize they want more out of life.

They want to live by their own rules, not society’s. They want to spend their precious time on this planet in ways that light them up, not by clocking into 9 to 5 jobs, five days a week.

You have to want it though, because stepping off the traditional path isn’t easy, and taking actions to make your life better takes energy and commitment.

So congratulations – you’ve already taken that first step by signing up for this 5 day challenge.

Today's Action Step #1: Finding your North Star

The first thing I want you to do is imagine what a life of financial independence would look like for you. What would your life look like if you didn’t have financial stress?

If you didn’t have to stress about every bill that’s coming in.

About having enough money?

Is my paycheck going to come in early enough? Can I afford to buy this? Do I have enough cash in my checking account?

What would it look like if you could get beyond that?

If you could get to a point where you had the financial freedom to make choices that light you up. That’s your North Star and it’s so important to be focused on that from the very beginning of your financial independence journey.

Today's Action Step #2: Cut just one thing

The easiest way to get started with FI is to find that one place where your spending is just a little bit unconscious. Where you’re just spending and you didn’t even realize it.

I challenge you right now to take 10 minutes and go through your checking account and credit card statements for the past 2 months. 

We’re not looking to change our whole lives today, we just want to take one small step. So find just one single thing where you didn’t even realize you were spending money on and eliminate that expense right now.

Some Examples:

  • A fee you didn’t need to pay, like ATM Fees.
  • A subscription you no longer use.