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    LBYM Life Below Your Means: Financial Freedom, #83
    LBYM Life Below Your Means: Financial Freedom, #83
    LBYM Life Below Your Means: Financial Freedom, #83
    Ebook89 pages1 hour

    LBYM Life Below Your Means: Financial Freedom, #83

    By Joshua King

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    About this ebook

    Living below your means gets a lousy repetition. People believe this means you can't buy Starbucks, eat out, or go on vacation.

     

    LBYM simply means you live a couple of notches below your income level. If you earn $6,000/month, you try to live on $4,000.

     

    We call the extra money cash flow, and it is the heart of your household. We use the additional income to save and invest.

     

    Saving and investing have different purposes, but all lead to the same results. They help you lead the life you truly want. LBYM is the start of the saving and investing process. Good Luck!

     

    LanguageEnglish
    PublisherJoshua King
    Release dateDec 12, 2022
    ISBN9798215926055
    LBYM Life Below Your Means: Financial Freedom, #83

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      Book preview

      LBYM Life Below Your Means - Joshua King

      Table of Contents

      MILITARY FAMILY INVESTING | Home of the Free PDF

      LBYM Life Below Your Means

      Monthly Dividend Tracker Template: Buy on Etsy

      All Right Reserved Military Family Investing | 01  LBYM Live Below Your Means

      02  The Magic of Cash Flow

      03  The Golden Handcuffs of Lifestyle Inflation

      04  Saving & Investing with $400/month Available

      05  The American Dream is Passive Income

      06  Are You a Spender or A Saver?

      07  40-Year Interest Only Mortgage

      08  Your 401K is Not Enough

      09  Home Maintenance Budget vs. Emergency Fund

      10  My 7 Principles of Wealth

      Try Something New -Free PDF Download

      MILITARY FAMILY INVESTING

      Sign up for Joshua King's Mailing List

      Also By Joshua King

      MILITARY FAMILY INVESTING

      Home of the Free PDF

      www.militaryfamilyinvesting.com

      LBYM Life Below Your Means

      And Increase Your Savings Rate

      01  LBYM Live Below Your Means

      02  The Magic of Cash Flow

      03  The Golden Handcuffs of Lifestyle Inflation

      04  Saving & Investing with $400/month Available

      05  The American Dream is Passive Income

      06  Are You a Spender or A Saver?

      07  40-Year Interest Only Mortgage

      08  Your 401K is Not Enough

      09  Home Maintenance Budget vs. Emergency Fund

      10  My 7 Principles of Wealth

      Free PDF Download

      1)  PDF of the Month: How We Plan to Retire on Dividends 4 (Free 139-Page PDF)

      2)  Free PDF Downloads: Download FREE PDF LIST here

      3)  Financial Mindset: Become CEO of Yourself 2 (Free 196-Page PDF)

      4)  Retirement Planning: Your Retirement Planning Guide 2 (Free 255-Page PDF)

      5)  Investing: How We Plan to Retire on Dividends 2 (165-Page Free PDF)

      6)  Cryptocurrencies: Counting on Crypto 2 (Free 159-Page PDF)

      7)  Real Estate: Financial Independence through Real Estate 4 (Free 112-Page PDF)

      8)  Business: Retire Rich, Retire Comfortable with a Business 4 (Free 149-Page PDF)

      9)  Latest DGWR: Don’t Gamble with Retirement 8 (Free 445-Page PDF)

      10) Everything!: The Biggest Book on Passive Income Ever 2! (book)(Web Edition)(Art Edition)

      11) I bought a Kindle Oasis: Check it out on Amazon

      12) Read My Books for Free: Free Kindle Books Schedule

      13) Book Design: Design Tips on YouTube

      14) Kindle Unlimited: Why I Finally Subscribed Kindle Unlimited (learn more)

      15) Book Reviews: 505 Takeaways from 101 Books (pdf)

      16) Writing: The Publishing Chronicles (Part 1, Part 2, Part 3, Part 4, Part 5)

      17) Best REIT- Fundrise: REITs vs. Homeownership (Join Fundrise)

      18) Follow us: On our Facebook Page and Join our Facebook Group

      19) Support the Channel on Cash App: $Kingmarine1981

      20) For more detailed analysis, join my Youtube: MFI YouTube Channel

      ––––––––

      Monthly Dividend Tracker Template: Buy on Etsy

      Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article.

      All Right Reserved Military Family Investing

      01  LBYM Live Below Your Means

      Living below your means gets a bad reputation. People hear these words and assume you need to eat grits, make honey sandwiches, and recycle toilet paper.

      But that’s not the case at all. Living below your means simply means creating cash flow through your household.

      It also means that you do not subscribe to the notion of lifestyle inflation. Do not worry; I will cover these terms throughout the article. Let’s begin.

      Staying Debt-Free in Your 30s

      How does living below your means (LBYM) look in reality? You already know (and feel) what living below your means would look like in your life.

      The problem is you don’t know what the benefit of living this way would give you. Living below your means allows you to increase your savings rate.

      On a daily basis, LBYM gives you a sense of freedom you never dreamed possible. It allows you to create a budget and have extra money to save and invest at the end of the month.

      Put simply, LBYM is looking at your income and creating a life a couple of steps below what you earn. For example, if you make $5,000/month, LBYM would mean you live off of $3,000/month.

      Your Dream Job: Find It or Create It?

      What prevents you from LBYM? The most challenging part of living below your means is forgoing the consumer culture that companies created for us. They turned us all into spenders that do not think about the long-term consequences of our actions.

      It’s not normal for a 25-year-old to buy a sizable single-family household or a downtown apartment. We used to believe in moving from a studio apartment to renting a single family and finally purchasing a starter home.

      Today, tv shows like House Hunters (one of my favorites) tell us that we need to buy a massive single-family home

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