FU Money gives you the power to walk away from any crappy situation in your life.
Does your workplace have a negative environment? Are you living somewhere that’s bad for your health? Is your boss making unreasonable requests?
With FU Money you can get out of there as no one has any financial leverage over your life.
FU Money is the exact amount of money required in order to tell an individual or organisation to go f**k themselves without facing repercussions.Urban Dictionary
Oh Sh*t Money
FU Money is different from Oh Sh*t Money.
Oh Sh*t Money get’s you out of, well, sh*t.
Car breaks down? Need to travel to a funeral? All your appliances stop working within a few weeks? Pet needs surgery?
These are all situations calling for Oh Sh*t Money, also known as the Emergency Fund, or Mojo for the Barefoot Investors.
Scott Pape, the Barefoot Investor, recommends a minimum of $2,000 kept aside for Oh Sh*t Money. If you don’t have a spare $2K sitting around he says to sell your things until you do – seriously.
Other people recommend having around 3 – 6 months of income saved to cover all Oh Sh*t scenarios.
How Much FU Money?
There is no exact answer to this as everyone has different spending habits.
If you track your expenses, it will be much easier to figure out how much money is needed to say FU.
You’ll know you’ve reached the point of FU Money when you have enough money to at least live frugally with all expenses covered from investments. This is also known as Financial Security.
Of course, the more frugal you can live, the less FU Money is needed.
Oh Sh*t, FU & FI Money
These three types of money all have different purposes.
For shorter term emergencies, use Oh Sh*t Money.
FU Money is longer term as income from investments allows you to live frugally without having to work. Think dividends from shares or real estate.
FI Money, Financial Independence, is having enough money from investments to live your current lifestyle without having to work. The general consensus is to save 25x your expenses and invest in low cost index funds in the share market.
Don’t Burn Bridges Money
As tempting as it is to literally say FU, it’s actually not a great idea.
That’s why it’s important to remember that FU Money is also Don’t Burn Bridges Money.
We are all adults who have the ability to disagree respectfully.
Whether it’s in the workplace or in the community, you’ll never know who knows who. If you gossip, or are rude or aggressive then unintended consequences can ruin your future opportunities. I’m always amazed by the unseen connections between people.
Sometimes all you need is a simple, ‘No, thank you’. Other respectful suggestions include:
- I’ll have to pass
- It’s not a good fit for me
- I can’t take on any more work at the moment
- It’s not realistic for me to…
- I’m unable to work XYZ as I’ve already made plans
Follow this link for a fantastic article on How To Quit Your Job Without Burning Bridges.
FU Money is not about burning bridges. It is about having options.
J L Collins and F*ck You
Blogger J L Collins is well known for his website and book The Simple Path To Wealth and has this to say about saving for FU Money:
- Don’t buy a f’n house. Who needs the headaches. Rent yourself a nice place and let the landlord worry about fixing the f’n toilets
- Need a car? Get an indestructible economy sh*t box and you’re done
- Don’t buy sh*t you don’t really want to impress arseholes you don’t really like