Years ago I was watching an interview with Joe Rogan and he mentioned that he was taking some jobs he normally wouldn’t because he was trying to build up a stash of “F*** You Money”. (And, for brevity’s sake, I’m just going to call it Screw You Money since I try to keep the harsh profanity to a minimum in the blog.)
He went on to explain that Screw You Money is the stash of money you have that gives you the freedom to not have to do something you don’t want to do. Imagine your boss is being a real jerk…you put up with it because you have a mortgage, a car payment, etc, etc. But, if you had, say, a million in cash in the bank and the boss starts riding you, you could just say “Screw you”, walk out, and have virtually zero negative impact on your life.
Here’s an article that sums it up very nicely.
F*** you money, as you may have guessed, is uncommitted cash sitting in your bank account which you can use to live on when you need to say “f*** you!” to an asshole boss, customer, or employer of any variety.
It’s really that simple. It’s the stash of cash you will have which will allow you to operate and live as a free human being rather than a slave. I’m not saying you will have to quit work and spend your days stroking your beard on the porch and reading philosophy (although you can do that if you wish), but it will give you the option to quite simply pack up your things and tell anybody you don’t like to get out of your face.
If you carry this idea further, you could probably have a stash of “Screw You Guns”, or “Screw You Food”, etc, etc. A stash that lets you be completely indifferent to the situation involving the stashed items.
In the broader picture, who wouldn’t love to have the freedom to just drop what they are doing and walk away from a situation they don’t like? In some ways you don’t really need a stash as much as you need to minimize your obligations that force you stay in a situation you don’t like. For example, if you don’t have a house payment, don’t have a car payment, don’t have a student loan, and have a few months worth of money in the bank…well…then your Screw You Money stash doesn’t have to be that big. The less debt and obligations you have, the less you would need for your stash.
I’m a big fan of freedom so anything that enhances my freedom is going to get a thumbs up from me. Moral of the story: minimal debt, maximum cash and you have options that you may not have had otherwise.