They didn't feel 'wealthy' until they gained control of their money
For us, financial independence means having the freedom to choose what you want to do and when. That's why we invest so much and are working to get rid of student debt — for the freedom to make our own choices. Since the income increase for my partner was recent, we left our budget the same. That's where the budget item for "goals/savings" comes in. That $3,000 is the income increase and "leftover" amount each month after we've paid for everything else.
For the first few months after he received the pay bump, we put this money away for our wedding fund. Once we save up enough for that, we started putting it away for a large student loan payment. , we would re-allocate the money we're putting toward student loans to re-build that fund. If we needed to travel for work, family, or fun, we would take a portion of this "leftover" money and save it for that expense.
Having the extra money is a life-changer for us. It's allowing us to prepare for our future in a way that we couldn't have dreamed of. For two people, $800 a month isn't low. Our health is important to us, and we eat a vegan plant-based diet. We also love to cook and this means we make all kinds of vegan-friendly recipes. Trying new recipes means buying new and different ingredients.
Getting a pedicure or a massage for us is a treat and would come from that section of the budget if we decided it was worth spending on. We don't have cable and rarely go to the movies. The last time we went, we used the free movie tickets that were gifted to us over a year ago. We find free ways to entertain ourselves like hiking, borrowing my aunt's kayaks, or going for a bike ride. If we are going to spend money out, it's usually on food with friends. We've decided our money's mission is to enable us to travel, eat well, and bring others with us when we do.
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