Fuck You Money is the New Financial Dream: Here’s How to Get It

Fuck You Money is the amount of cash you need to walk away from a toxic or undesirable situation without worrying about the financial fallout. And in my experience, having enough Fuck You Money on is one of the best things you can do for your mental health. Why? Because it means you can’t be exploited or trapped in an unhealthy situation.

Raise your hand if you have ever wanted to tell your boss, “Fuck you. I’m out!”, but didn’t because you can’t afford to. We’ve all been there. But we zip our lips to avoid saying something we will regret and instead say “Yes sir. Right away, sir!”

But it’s not just your boss. It might be a neighbour, or maybe even your partner. When you don’t have enough cash in the bank for a clean break, you have no choice but to stay and take it on the chin. Here’s everything you need to know about Fuck You Money and why everyone should have it.

What is Fuck You Money and where did the name come from?

The term Fuck You Money has been in popular culture for some time, and its origins are somewhat murky. Essentially, it means having enough money to be able to say “fuck you” to situations, jobs, or people you don’t want to deal with. Because ‘Bye Felicia Money’ just doesn’t have the same ring to it.

One of the earliest and most well-known references to the term can be attributed to John Goodman in the movie “The Gambler” (both in the 1974 original and the 2014 remake). In an iconic scene, Goodman’s character explains the concept of Fuck You Money and why it’s important to have enough cash on hand so that you’re not beholden to anyone.

While the movie popularized the term, it’s hard to say definitively if that’s where it originated. Over the years, many people have talked about the concept, and it has been referenced in numerous books, movies, and interviews. Today, the salty term gets tossed around almost as much as pictures of brunch on Instagram.

But what we do know is that Fuck You Money doesn’t necessarily mean being Rich As Fuck. The exact amount you need to achieve Fuck You status depends on your expenses, where you live, and how you want to live. According to the Urban Dictionary, Fuck You Money is defined as:

“The exact amount of money required in order to tell an individual or organization to go fuck themselves without facing repercussions.”

Some people are genetically predisposed to Fuck You Money, like trust fund kids and nepo-babies born into substantial generational wealth. That’s great for them, but the rest of us didn’t hit the birth lottery. So we have to roll up our sleeves and reach for the ol’ bootstraps.

But here’s the kicker: working for it probably isn’t going to get you there. So let’s look at some ways to figure out how much Fuck You Money you need and then how to accomplish the goal.

How much is enough Fuck You Money?

The exact amount of Fuck You Money required to be fabulously unbothered is a great question. The actual amount is entirely subjective. If the dream is to chill in your parent’s basement, play video games, and order pizza thrice a week, then maybe you need a lot less than someone wanting to jet-set across the world.

For me, I just want the freedom to quit a toxic boss or pursue a risky but exciting opportunity without worrying how I’m going to feed my kids and keep the lights on. I don’t need enough for a private jet or to retire early (because *gasp* I actually love my job). So how much Fu ck You Money is right for you? The answer depends on a host of factors, but two of the primary ones are:

• Where you live
• How you live

Location! Location! Location!

Across Canada, the cost of living varies considerably. Where you live can significantly affect how much money you need to live comfortably. Of course, you can move to a less expensive place to live in Canada or elsewhere. People willing to live in some foreign countries may find that they can reach “FU Money” status with a much lower amount.

Desired Lifestyle

Also, each person has different standards for what makes a comfortable lifestyle. For example, if you are content with a small apartment and a library card, your income requirements will be lower than someone who wants a large home and costly entertainment.

Financial obligations

Be honest with yourself when you complete these calculations. Take time to research your options. If you have existing financial obligations (like a mortgage, school loan, or family), consider the terms of those payments. Finally, total your expenses and determine what you need annually to support yourself right now.

Is Fuck You money the same as the FIRE movement?

No, but Fuck You Money is definitely a critical part of it. FIRE is an acronym for Financial Independence, Retire Early. It’s a vision adopted by a group of people who dedicate themselves to strict savings and structured investments, intending to retire far earlier than is traditional, often before they turn 40. FIRE adherents try to save as much as 70% of their income so they can retire early and live off the earnings from their investments.

FIRE is not the same as FU Money. Still, achieving the financial independence of the movement would clearly provide you with the ability to walk away from anyone or anything unworthy of your time. One helpful piece of advice from the FIRE movement is to consider every expenditure in terms of how many hours you must work to earn it.

For example, suppose you earn $40 per hour. Let’s also factor in your taxes and deductions to assume you net $32 for each hour. If you spend $100 on dinner, that is more than three hours of work. Put it this way:

You need to trade over 3 hours of YOUR LIFE for a $100 dinner.

Is it worth it? You can make dinner at home for far less (say, a nice meal for $10 if you buy the ingredients and cook for yourself), which equates to only 20 minutes of work.

In contrast, if your car loan payment is $320 per month, that requires ten hours of work. Once you start looking at where your life is going, your priorities change insanely fast.

How to succeed at FIRE

FIRE proponents want to retire as early as possible. Rather than following the traditional timeline of working until 60, 65, or later, this group aims to be free from the rat race before they leave their 30s behind.

They don’t mind sacrificing luxuries now to achieve that goal. In fact, many save more than 70% of their income. Participants in the FIRE movement cut out expenditures you may currently consider necessities, and they put that money into investments to build a retirement fund.

Fuck You Money & FIRE use some of the same tools to achieve their goals

For most people, having a high salary isn’t going to be enough to get you to the financial position to retire early or the confidence that you can afford to tell your boss (or anyone else) to fuck off. Cutting expenses is important, but it’s unlikely to add up to enough money to fund fifty or sixty years of living expenses. So, how can you achieve financial freedom?

Wants vs needs

First, determine how much money you need. As mentioned previously, you may be spending more than you need to. If you consider your priorities, you may be willing to forgo some expenditures.

Some people enjoy exploring ways to cut costs and find real pride in watching their savings and investments grow. If you keep your goal clearly in view, it will make small sacrifices less difficult.

Whether you want to reach financial independence to retire, change to a less lucrative line of work, or reach”FU Money” status, the means of getting there are very similar. You must build your assets to a level high enough to allow you to live on the earnings or minimal amounts of the principal.

Crunch the numbers & make a plan

Use a FIRE calculator to understand what you need to do and how long you need to keep at it. The calculator will use your current age, your goal age for financial independence, your current income and expenses, and other information to determine how much you need to invest and how much risk you would need to accept to achieve your preferred goals.

How to calculate the right amount of Fuck You Money

Yeah, I know. Math. Ugh. But you need to crunch some numbers if you want that real-life Uno Reverse card. Here’s how to calculate your Fuck You Money target:

The Basics: Calculate your monthly living expenses – food, rent, utilities, your streaming services (because a life without Netflix isn’t worth living), etc. Also, you need Netflix if you want to watch some top-tier financial content about investing.

The Luxuries: Add your monthly ‘treat yourself’ budget. Maybe you want spa days, a monthly wardrobe refresh, or trips to Japan because sushi is life.

The Cushion: Always, ALWAYS have an emergency fund. Because life’s unpredictable. Today you’re sipping a matcha latte, tomorrow you might get renovicted.

Now, take your total monthly expenditure and multiply it by 12 (because there are 12 months in a year, but you knew that). Then, multiply THAT by how many years you plan to be fabulously unbothered.

And THAT is your minimum Fuck You Money goal. You’re welcome.

How to save up enough Fuck You Money

Here’s where those bootstraps come in. Remember that pic of overpriced avocado toast you posted on the ‘gram? Think of Fuck You Money as that, but like, a million times better. It’s healthy and delicious, but labour-intensive getting it from farm to table – or from hustle to bank account. Here’s how to do it:

Invest Smartly: Heard of the stock market? No, it’s not just for boomers. Start learning about stocks, bonds, and Exchange-Traded Funds (ETFs). Making money while you sleep? Yes, please.

Side Hustles: Gen Z, you’re the queens and kings of the side hustle. Use those skills. Etsy shop, dog walking, digital consulting – the world’s your oyster, darling. Not sure where to start? Check out the 53 Best Side Hustles in Canada.

Live Below Your Means: Just because you CAN buy the iPhone 15 Pro Max doesn’t mean you should. Save that coin! Is a status symbol worth putting up with your boss’s shit or your deadbeat bae? Didn’t think so.

Continuous Learning: In the era of information, ignorance is a choice. Read personal finance books, listen to podcasts, take courses, become the expert, get that cheddar!

Network: It’s not just about what you know, but who. Rub elbows, slide into professional DMs, attend those boring seminars. Someone out there has the keys to your Fuck You Money.

Risk it for the biscuit: Investing to achieve Fuck You status faster

Investments have risks, but accepting risk is how you can sprint to the finish line instead of walking there. Let’s paint a picture: You’re diligently setting aside $2,000 every month (props to you!). In a year, you’ve got $24,000 chilling in your account. Sounds great, but if your dream is rolling in a cool million or more (because honestly, a mil might just be the starting line for FU Money or FIRE lifestyle), you gotta play the game of investment multiplication.

For example, suppose that you can save $2,000 each month. Over the course of a year, that’s $24,000. But if you have your heart set on a million-dollar bank account (not a lot for FU money or FIRE), you need to make that money reproduce itself, or you will never get there.

Year 1: By the end of the year, you’ve stashed away $24,000. Now, you won’t earn 8% on the whole amount since you’ve been saving incrementally, but let’s pretend for a sec. You’d bank interest of approximately $1,920. So, your grand total? $25,920.

Year 2: You keep saving, and with your previous earnings, your account now holds $25,920. With the magic of that 8% return, you pocket about $2,073.60 in interest. Adding in your additional savings for another whole year, you’re rocking a $51,994 balance.

That’s the power of compounding. Don’t believe me? Run the numbers through the Hardbacon Compound Interest Calculator to see for yourself:

But let’s be real. Crossing that million-dollar mark? It’s going to take patience, persistence, and probably a killer playlist. So, get comfortable, keep learning, and remember: it’s not just about the destination, but the journey to financial freedom and the ability to say “Fuck you. I’m out!”

Save more & get advice

Instead of $2,000 per month, can you challenge yourself to save $4,000? That’s what the FIRE participants are doing. Who needs Netflix when you can entertain yourself by reading investment advice? Who wants to spend $100 on a new outfit when you know you had to work three hours to pay for it, and the purchase keeps you from your freedom?

Risk vs reward

Instead of letting your hard-earned savings languish in a savings account or conservative fixed-income investments, you may want to take some risk in pursuit of potential higher rewards. Many investors like to put some of their funds in stocks, which have the potential for higher earnings, and some in more secure, less flashy investments like bonds.

Ask an expert

It’s up to you and your goals but consider getting expert help. You may want to look into an online broker. These discount brokerages can help you decide where to invest according to your risk appetite. Many forgo the minimum requirements of more traditional financial advisers and have the resources to offer you a wide range of potential opportunities.

Do your research

Do some research first because, depending on your plans, online broker fees may take a bite out of your investments and any profits. You may also want to consider using a robo-advisor. Despite the implication of automation, the advice you get from a robo-advisor isn’t calculated by a formula but is devised by an actual portfolio manager.

Still, since the advisor doesn’t interact with you directly, you can get advice and conduct transactions for less money. However, most of the investments are exchange-traded funds, which mirror index funds but at a lower cost.

Now back to the Fuck You Money goal

We’ve talked about how to save, how much to save, and how to get your money working harder. These things can help you get closer to that magical moment when you have the freedom to say “Fuck You” to your boss or anyone else who is keeping you from being your fabulous self.

But here’s another tip to think about: you might not need as much money as you originally calculated. Why? Because you probably will be doing something that brings in income.

Work on your own terms

Whether you are working toward an actual early retirement or simply the confidence of knowing that you can walk away anytime, chances are you won’t want to stay idle forever. For example, suppose your FIRE dream involves moving to a fabulous beach-front property in South America. In that case, you are likely at some point to get tired of counting coconuts and decide to create adorable little tourist souvenirs from coconuts.

If your FU moment leads you to travel the country in your camper, you may turn your anecdotal musings on life into a popular blog that brings in money from ads and affiliate links. Or you might keep yourself busy with occasional odd jobs to reduce the outflow from your account.

In most circumstances, the end of your participation in the rate race will drastically reduce your wages but may not entirely eliminate your income. Factoring this into your formula may allow you to reach your goal sooner.

Let your motivation help you get started

If you can’t sit through one more meeting with your manager, or you are done stifling your creative instincts by spending 8 hours a day trapped in a cubicle farm, start planning your escape now.

You can realistically save thousands without that much effort. If you are more motivated, you will not let a bit of deprivation now stop you from reaching your FIRE or FU goal quickly. The sheer pleasure of knowing you can leave at any time, without fear of financial consequences, will be like a delightful secret. In fact, it just might make your boss easier to like.