I wanted to expand on a quick update post I did recently on optimising for income. There are generally two directions you can choose (or better yet, both!) to eke out money for investments; you can cut down on existing spends, or you can try to increase your income.

I find that generally, my willpower is not super strong, so I tend to favour the 2nd option, and I will try to show you why, here.

Cutting down on existing expenditure, or some people like saying, going the frugal way, requires a lot of discipline. Depending on what you scale back on, if that expense has become a habit, can be super tough.

A very popular example, the latte. Say for example, you’re used to having 2 lattes a day, and in the effort to reach financial independence, and potentially retire earlier, you have resolved to cut down by