SIMON BROWN: Slowly, slowly eat that elephant

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You’ve set yourself the big, hairy, audacious goal of retiring debt free and cash flush. But how do you actually make it happen?

Investing and saving are all about setting goals, but as humans we are surprisingly bad at it.

The first is that you have to define financial freedom in real terms. And then you need to break it down into bite-sized pieces. This is what we miss when setting those huge goals; making them bite-sized means we get to succeed along the route to the final destination. Becoming debt free may mean making changes to one’s lifestyle. More eating at home, or simpler holidays; spending less every month. Again, this is real and tangible, will put more money in your pocket and place less pressure on your income.

 

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