So what is FI? FI = Financial Independence. Gotta love acronyms. But what exactly does “Financial Independence” mean?
A pretty common definition is that you’re no longer financially dependent on your parents or some other caregiver. So basically when you’ve moved out and you’re earning money on your own – enough to pay for all your expenses. That also means you aren’t racking up credit card balances!
While this level of financial independence is an important first step, on this site we’ll be talking about something MUCH bigger. So what DO we mean?