Intentional Spending: The Key to Unlock Early Retirement

Being mindful of your money will set you free.

Regardless of how much money you make, it’ll never be enough to have everything you want in life.

You have to be mindful of your real goals.

Then spend with those real goals in the forefront of your mind.

Intentional spending doesn’t mean no spending money.

Intentional spending means prioritizing your money, being conscious of where it’s going (and not going), and what matters most to you.

If early retirement is your goal, then keep that in mind every time you spend money.

• Don’t spend frivolously on expensive homes, cars, and toys, if what you want is to retire early.
• Don’t budget without a “required to fund” section labeled early retirement.
• Don’t let someone else influence your spending habits, they have completely different goals!

If your goal is to just have fun at the moment, then spend recklessly!

But since you’re reading this article, I know that’s not the case.

Intentional spending is the key to unlocking early retirement (financial independence, financial freedom, lifestyle freedom).

Everything comes down to how you spend and prioritize your dollars and cents.

You can earn $40,000 a year or $100,000 a year, but if you only save $100 a month for early retirement, it’s not going to happen.

A goal like early retirement takes commitment, (short-term) sacrifices, and focus.

You’ll have an occasional slip and buy something big that you don’t need — that’s okay! You’re human.

But to be able to get back on your budget is a critical habit for every slip.

Look at where you’re spending money.

Did you mean to spend that much on toys?

Did you mean to spend that much on drinks?

Did you mean to spend that much on car payments?

Or did life just happen and suddenly the money is gone?

Unintentional spending is easy.

And it’s the default path most of society takes.

Not worrying about the future, not reaching the goals that would make their heart flutter, and not taking accountability for their destiny.

That’s normal.

Reprioritize where your money is going.

But a goal that breaks free of the default path is NOT normal.

It requires purpose and attention.

It requires intention.

Create your dream (i.e. early retirement), allocate a budget item for it, and then do everything you can to make that happen.

That’s the type of intentional action that will get results.

The tough money decisions will make early retirement happen, or not.

It becomes so much more than reaching early retirement.

If you practice intentional spending, then you create “happiness” for yourself.

You’re putting your hard-earned dollars toward your dreams, your true wants, and the life you want to live.

That’s happiness.

That’s intentional living.

And all it takes is intentional spending.

Do you already practice intentional spending?

What scares you about it?