A few years ago, I was fired. Not because I was a poor performer. It was just that my boss and I had our differences over certain business policies that he had implemented. I knew instantly that these policies were detrimental to the business and I stood my ground. In the end, the company decided to let me go. But that itself is not the point.
It is in moments like these that FU Money becomes important. You may have guessed what the F and U in the term FU Money stood for. And it means exactly that. I had not heard of the term when I was fired from the job but got to know of it much later. I remember reading about the term FU Money in a blog written by the legendary JL Collins. FU Money gives you the space to take a break if required. It lets you do what you want and work when you want to. Often we are prisoners of our work places. We are literally chained at our ankles and we cannot leave. Many would be financially challenged if they lost their job. We are prisoners at work. Only until we find our FU Money.
By the time I had lost my job, I had already set aside my FU Money. Adequate money to keep me afloat for a few years. Enough to stop me from being over anxious about my financial needs. FU Money gives you the confidence to do what you want. It takes away the chains around your ankles. Do you have your FU Money today?
Sit back and look at how you spend your money. Often almost 40% of the money that we spend can be saved. Just writing down our expenses each month is a good place start. It makes you aware of where your money goes. And more importantly it makes you aware of the money that can be set aside to build your FU Money. Each month work aggressively to build your FU Money. Put that money to work. Invest it wisely. And let the returns from your investment get reinvested. And the cycle goes on. Very soon you will begin to breath better. You will realise that you have FU Money set aside that can tide over any eventuality or even give you the chance to do other things. Once you have your FU Money you will feel the shackles fall off your ankles. It will set you free.
FU Money should not be confused with financial freedom. That will be a long distance ahead. FU Money just cushions you from a fall. It gives you the confidence to literally say just that. F U.
