We all get that time is valuable, essentially equating to money. If I am to spend 8 hours working in an office, my employer has to compensate me. For him, it’s the cost he’s ready to pay to get a task completed. For me, it represents the price I’m willing to accept for the daily grind of waking up early and sitting at a desk for 45 hours a week.

As I strive for financial independence, I’ve built up some savings that generate a passive income each month. I don’t need to go to the office every day or wake up at the same time every morning. However, this freedom comes at a cost. By earning less and cutting down on expenses, I’ve chosen to live without certain luxuries that many people consider indispensable. I’ve prioritized my time and life over money and material possessions.

This is my way of enjoying financial independence. Your goals might differ, and you might reach them sooner or later than I will. For instance, Jacob at Early Retirement Extreme manages on $7K a year, but that wouldn’t suit me. I love traveling, staying in hotels, and dining out. Though I currently don’t have a home, so I don’t pay rent or utilities, at some point, I will want that stability. I can’t imagine constantly traveling with my kids without providing them with a home base. Perhaps, a year of travel would be fine, but ultimately, they need a place to call home.

Interestingly, when people see me, they assume I spend a fortune each month. They think my life is one long vacation because I travel so much. But that’s far from true; I spend less than half of what they do monthly. I deliberately live without a permanent home, a car, or a cell phone with a data plan. I use café WiFi, stay in budget hotels, camp in national parks, and opt for picnics and cheap snacks over expensive restaurants. While this freedom has its costs, it beats being tied to a job I no longer enjoyed, and I am grateful for my financial freedom.