Summary
Financial freedom is something I never knew was a thing until people started asking me how I gained it. I’m currently 36, I fully own a condo in Tulum, I make six figures per year, $15k of which is passive income. I officially now have a quarter-million dollars in savings, zero debt, hundreds of thousands of credit card points. I travel on average to around 25 countries per year.
Travel blogger/influencer/creator has been trying to save enough to retire by 40. She gives herself a daily life budget of $100. This includes food, drinks, shopping, tours, and anything else that’s lifestyle or travel related.
Many banks offer as high as 5.5% (right now) interest on your savings. I cannot believe I only learned about High Yield Interest Savings accounts a couple of years ago.
Make sure the account allows withdrawals at any time, and doesn’t charge a fee or penalty. Pay attention to monthly fees! Most banks are free, but I just tried using BlueVine and it ended up giving me a $95/month fee! Check reviews for that bank!
With just APY intererst payments on my existing money, I’m up to around $1200 per month, which is amazing! And that’s still at the lower end, I am about to move money to the higher APY accounts as well.
