If you start saving more, you are doing the FIRST step towards financial independence.

It is correct. And also conventional wisdom.

Most "FIRE GURUS" advocate being frugal and to save at least 50% of income. Why?

Because a savings rate of 50% (With an assumed investment ROI of 5%p.a), it allows you to possibly reach financial independence in 17years.

BUT cutting back on expenses only is the LAZY way to attain FIRE (Financial independence retire early).

Frugalness has limits to helping you reach financial freedom

Look at the equation again...

** INCOME - EXPENSES = SAVINGS **

You can keep cutting back on expenses, even to $0.

It's theoretically possible to live off your parents and be stingy until 100% of your income is saved.

Want to hear a cool story on frugal minimalist, check a popular reaction video I did previously...

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