The FIRE movement

According to a growing number of Australians, many of whom are millennials, there is more to life than working flat-out, earning and spending, piling on debt, and consuming voraciously. They want financial freedom and more happiness from following their passions and interests by leading a simple life and saving hard to reach early retirement.

These people are followers of the popular personal finance FIRE movement - which stands for financial independence, retire early - who save rigorously, invest sensibly, retire in their prime, and enjoy a modest, agreeable life. Many Aussies have drawn inspiration from Canadian born blogger Mr. Money Mustache, who has largely pioneered this way of thinking. It's not about getting rich quick, but taking a measured path with the security of savings. 

But how much do you need to save, what should your goals ultimately be, and what is the best way to invest? Is this lifestyle right for you?

In this episode of Friends With Money, Julia Newbould discusses the FIRE philosophy with Money journalist Susan Hely, who has been following this community since 2018, and two popular finance bloggers on how they have achieved their own financial freedom - Serina Bird, author of The Joyful Frugalista, and Dave who writes the strongmoneyaustralia.com blog.

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