What is a wage slave? The short answer is a wage slave is someone who is stuck in a job out of necessity. Maybe they like the work they do, and maybe they don’t. Either way, they have no option other than to just keep doing it. It is a difficult way to live.
A wage slave can never hope to achieve financial independence, because despite hard work they will never get ahead. Why? Because they spend everything they earn as fast as they are able to earn it. A typical wage slave may appear to be living a lavish life, but appearances can be deceptive when it comes to money.
The life of a wage slave is filled with stress and uncertainty. This is because a wage slave has no emergency fund to use for an unexpected expense. They live at the mercy of an employer, hoping no unfortunate circumstance comes between them and the next paycheck. It makes work in an unfulfilling job excruciating even more painful.
Controlling spending and saving for the future can be difficult, but they are essential steps towards living a richer life. A financial coach may be helpful in reaching your goals, particularly if you have struggled with spending and saving despite making attempts to change. It is never too late to ditch life as a wage slave and pursue financial independence.