I’ve been thinking a lot recently about my college days and why it is that I’ve always loved being a student. My son goes to a daycare near our state university, so I’ve been spending a lot of time on campus lately. Every morning, I drop him off, then head off to the student union to get some work done. Working at the union brings back memories – it’s the same place that I used to study at back when I was in law school nearly a decade ago.
Being in this college environment got me thinking about the surprising parallels between the life of a student and the goals of financial independence. When I think about it, a lot of the reasons I’ve always enjoyed being a student are the same reasons that I imagine many people aim for financial independence. More freedom and time. Fewer people looking over your shoulder. More control of your life.
I’m not financially independent, so I can’t say what financial independence really feels like. But what I do know is that the things that made me happy in school are pretty similar to the things that I want out of financial independence. Here are a few things that come to mind.
Controlling Your Own Time
The life of a student is interesting. You usually don’t have any money – but what you do have is time. Not necessarily a ton of free time (although you definitely do have more free time compared to other stages of your life).
The thing you definitely have, though, is more control of your time. Of course, you have classes. But those make up a small part of your day – a few hours at most. When I was in school (even in law school), classes rarely made up more than 3 hours of my day. The rest of the day was mine to use however I thought best.
I loved having control of my time like this. It didn’t mean I could do anything I wanted. But it did mean I could control what I was doing and when I did it. I seem to work better at night. So that’s when I worked most of the time. During the day, I did the things that made the most sense to me.
It was this freedom I had over my time that made my transition into the working world rough. I was in school for a long time – 4 years of undergrad, plus 3 years of law school. After 7 years where I had a lot of control over my time and a lot of autonomy over my life, going into an office with a boss that controlled the majority of my waking hours was a shock. I couldn’t do the things I wanted to do during the day. In fact, at every job I had, I received stern warnings that I needed to be at the office by a specific time.
It’s probably why when things got really tough at work, I thought about going back to school. Even now, most of my backup plans consist of me going back to school.
Having some semblance of control over your life is important. I think that’s what most of us want – some level of control and autonomy over our lives. That doesn’t mean doing anything we want anytime we want.
But if I want to do something during the day, I want to feel like I can do it without having someone yell at me for not being at my desk.
Long-Term Goals, Long Vacations, And Assignments With End Dates
One thing that always frustrated me about the working world was how things never seemed to end. You’d get an assignment, finish it up, and then immediately have something else to work on. I felt like I was running in place.
I’m pretty good at grinding through things. In college, I could grind through final exams, working 12 hours a day for weeks if I had to. And in my first year of law school, I worked 12 or more hours per day, every day, for an entire semester. What made the grinding possible was knowing that there was an end date. I’d finish up exams or get through a semester, and I’d know that I would have a month off to do my own thing.
Things weren’t like that when I started working at a regular job. No matter what I did, I knew that something else would be waiting for me. You can grit and grind through anything for a while. But grinding through things forever isn’t something that people should do. I know I couldn’t do it.
Students have long-term assignments and long-term goals. There are end dates. It’s all well-defined. Financial independence seems to be similar. You create your own goals and projects. Sometimes you’ll need to grind through things. But when you want to stop, you get to stop.
Not Getting Hassled By Bosses
By far the thing I’ve always hated most about working a regular corporate job was getting hassled by superiors. It’s not a failing on my bosses or that I had bad bosses or anything – it’s really more about me and how I like to work.
I’ve always been an independent worker. I think that’s why school worked well for me. School gives you assignments with long deadlines and general guidelines to follow. But after you get your assignment, there really isn’t much oversight from anyone. You know when it’s due. And you need to get things done by then (of course, this freedom usually meant getting assignments done the night before it was due).
The bane of work for me was the update meeting. Every job I had, I’d have chunks of my day where I needed to give updates about what I was doing. I get why you have to do this. In an organization, you have a lot of moving parts and people need to know what other people are doing and where they are.
But that wasn’t for me. I just wanted work to be like the way school was. Give me something to do, tell me when I need to do it by, and I’ll go do it.
The best thing about financial independence has to be the fact that no one controls you and no one can hassle you. Student life doesn’t seem so different. There’s some hassling. But for the most part, you’re doing your thing, on your time.
Final Thoughts
In many ways, the benefits and aims of financial independence aren’t that far off from what it’s like to be a student. It’s not the same, of course. Someone that’s financially independent has money. Someone in school is likely broke.
But both people have more time on their hands compared to most. They both are hopefully using their time to improve themselves and learn new things. And importantly, they both have time that they get to control – at least to a greater extent than most people.
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More Recommended Ebike/Scooters
Check out these other ebikes and scooters I've reviewed:
- Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
- Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
- Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
- Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
- Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
- KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
- Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
- Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
- Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
- Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($100) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Webull (20 free stock shares) – Webull's current promotion gives you 20 free shares valued between $3-$3,000 each if you open an account using my referral link. Here’s a guide I wrote about how to earn your free shares using Webull.
- Moomoo (15 free stocks) – Moomoo is a free investing app currently offering 2 different referral bonuses if you open an account using a referral link. Read my Moomoo referral bonus guide for more information.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Upgrade ($200) – Upgrade is a free checking account that’s currently offering a $200 referral bonus if you open an account and complete a direct deposit. These bonus terms are easy to meet, so it’s well worth doing this bonus as soon as you can. Here’s a post I wrote with more details: Upgrade $200 Referral Bonus – Step By Step Directions.
- Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
- Fairwinds Credit Union ($175) – Fairwinds Credit Union is offering a referral bonus for users that sign up using a referral link. Fairwinds has no fees or minimum balance, so this is a particularly easy bonus to earn. Since this is a smaller credit union, my gut instinct tells me this offer won’t be around long, so if you’re in a position to meet the bonus requirements, grab this bonus before it’s gone. Here is my step-by-step guide on how to earn your Fairwinds Credit Union bonus.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- US Bank Business ($900) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
- GO2Bank ($50) - GO2Bank is an easy bank bonus that I recommend people take advantage of if they have an easy way of meeting the direct deposit requirement. I like that it’s easy to open the account and that the bonus pays out quickly. Check out my step-by-step guide on how to earn your GO2Bank $50 referral bonus.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
- US Bank Business. US Bank is currently offering new business customers a $900 signup bonus after opening a new account and meeting certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $100 for opening an account.
- Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
Great analogy. When I was in school, I was able to make time for all sorts of hobbies and projects. Then the structure of the traditional workday made those things a lot harder to do. I’ve resented it ever since!
There is a little nostalgia to being so openly, unabashedly poor in college. I’ll never have the same value for a dollar as I did in those days. But, you’re right, retirement provides all the same perks, with the added bonus of actually being able to spend money on enjoyable activities.
It’s kind of nice – no one’s judging you. Just do your thing. It’s why I think paying off debt and saving towards Coast FIRE level is easier when you’re younger. You can live on nothing and there aren’t a ton of expectations on you yet. Once you get older, start having kids, a better career, etc, it gets harder to live like you’re a student.
In some ways.. You could actually look at financial independence as a way to get back to school and work on whatever projects you want to whenever you want to.
To those people who think FIRE people will be bored with retiring early… Well… It’s no different from going back to college!
In my state, you can take college classes at out state university for $10 per credit if you’re over 60 years old. That’s something I’d definitely do in the future.
Oh, man. I feel you when you say that “The bane of work for me was the update meeting.” Like you, I get why organizations have them, but as someone who, without fail, gets assignments done on time and in as good of shape as possible, I all but completely resent having to have to take the time to prepare for and participate in those meetings and to experience the accompanying stress of them (even when i’m not the person being interrogated). And that’s to say nothing of the excruciatingly tedious nature of these meetings when they’re group meetings. I’d love it if the prevailing practice for businesses was that one’s solid, good track record gave one a sort of “get-out-of-jail-free card.”
For me, it’s just stressful having to tell people what I’m doing. I know it needs to be done, but the anxiety kills me.