Attain 'FU Money' ... Without the Money

Ever hear of "FU Money"? It’s this idea that once you reach a certain amount of wealth, you have the freedom to refuse tasks, jobs, or relationships that are unfulfilling or harmful, and allows you to live true to your values and desires.

Sounds empowering, right? Haven’t we all been in situations where we’ve been undervalued and underappreciated, and fantasized about delivering that ultimate one-liner or…gesture?

SO, SIGN ME UP!

How can you achieve FU Money and get that empowering feeling we all want? Here are some examples:

1) 25x Rule:

This rule comes from the 4% safe withdrawal rate theory. If you’ve saved and invested 25 times your annual expenses, you theoretically have enough to sustain your current lifestyle indefinitely. For instance, if your annual expenses amount to $40,000, your "FU Money" target would be $1 million.

2) 3-6 months Living Expenses Saved:

Having 3 to 6 months worth of living expenses saved up is often seen as a good milestone. So, if your total living expenses for a year amount to $40,000, and you’ve saved about $10,000 to $20,000, you have the ability to take a break from work, switch jobs, or even careers, without worrying about immediate financial consequences.

3) Full Mortgage Payment:

If you've saved enough to completely pay off your mortgage, that lump sum could be considered your "FU Money". This gives you the freedom to make significant life changes without worrying about housing security.

4) Passive Income Streams:

Let's say you've invested in stocks or real estate, and these investments yield an annual return of $30,000. This passive income can be considered your "FU Money" as it can help you maintain a certain lifestyle without a regular paycheck.

BUT WAIT…WE HAVE A PROBLEM HERE

If you really think about it, the whole premise behind FU Money is fundamentally flawed. It perpetuates the notion that only upon amassing a certain amount of wealth can we finally serve our authentic needs.

In other words:

FU Money has us believing that we have to stack up a whole mountain of cash before we can start living true to ourselves.

The reality is that FU Money is not about the money. It’s a shift in mindset that empowers you to take necessary action when you feel you’ve been treated unfairly, disrespected, or unappreciated. The myth is that only money can provide this power.

How do I know this? Because empirical research consistently tells us that patterns of behaviour do not change overnight, and clinical experience demonstrates this to be true. Just ask "Jason,” who has lived a frugal lifestyle for years, but finds it impossible it is to start spending his amassed fortune. Or “Jennifer,” the high powered executive who can pay for her retirement 5 times over, but still works long hours and neglects her health and relationships.

Money alone doesn't provide the power we need to say yes or no in a way that serves our best interests. Mindset is more important than money.

WHAT IF I TOLD YOU FU MONEY CAN BE ACHIEVED…WITHOUT THE MONEY?

Don’t wait until you hit some arbitrary number before you start paying attention to your own needs, set healthy boundaries and value your time and wellbeing. The reality is that money is not the only way to achieve this, and is, in fact, a rather flimsy way of achieving it in practice.

Here are some concrete ways you can achieve “FU Money” without the money:

1. Disentangle the Money-Happiness connection: When you disentangle the myth that money=happiness, you have the ability to say “no” to things that don’t serve you that are based on money, like a job you don’t like, consumer culture, societal expectations and anything else that requires you to trade your happiness for money.

2. Skill Acquisition, Mastery and Confidence: By becoming highly skilled in your occupation and develop mastery in an area, you increase your marketability and demand. You are more empowered to say no and yes to what truly serves you because you are confident in your own personal value. This also applies to learning basic skills like cooking, repairing things, growing your own food, etc., These skills can reduce your living expenses, increase your sense of independence, and make you less vulnerable to increasing costs of living.

3. Psychological Minimalism: A minimalist mindset isn't just about owning fewer things; it's about focusing on what's truly important rather than accumulating more “stuff.” When you're content with less material things, you have fewer financial commitments, thereby reducing your reliance on money in the first place, increasing your freedom to make choices that align with your values.

4. Building Strong Relationships and Networks: Developing deep, meaningful relationships and being part of a supportive community can also be a form of "FU Money". If “money” is essentially a storage of value and exchange, strong interpersonal relationships fit this definition. Strong relationships provide a sense of fulfilment, security and emotional well-being that money alone cannot provide.

Practicing Resilience and Adaptability: Life is unpredictable, and setbacks are inevitable. Resilience – the ability to bounce back from adversity – can be seen as a form of "FU Money". If you know that you can adapt to whatever comes your way, you're not as beholden to maintaining a specific income or lifestyle.

CONCLUDING THOUGHTS

In each of these cases, the idea is that you're developing a mindset or skills that help you reduce your dependence on money, therefore providing you with the freedom and flexibility that "FU Money" typically represents.

While it's essential to set and pursue money goals, achieving financial independence should be seen as part of a well-rounded plan for attaining freedom. It’s crucial to strike a balance and not postpone living by your core values until a specific monetary milestone is reached. Instead, foster a healthy relationship with money that recognizes its importance alongside other vital aspects of life. This way, you can achieve a compelling and fulfilling sense of freedom that extends beyond mere wealth accumulation.