The Importance Of Financial Independence

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Part 1 Financial Independence occurs when you’ve saved enough to support you for the rest of your life without needing to work for money. You might choose to work for other purposes such as passion and purpose, but you no longer need an income to meet your expenses. Simply put, financial independence means the ability to manage your money in such a way that you have sufficient funds to live your chosen lifestyle without assistance from others. In other words, enough money to meet all your needs whether you work or not, because a job is really assistance from someone else, and that someone is an employer. Notice that this definition doesn’t mention amounts of money or the symbols of having money that we often attach to financial independence.…show more content…
Watching that growth is what will gradually shift your point of view. Your beliefs and behaviors will follow. If you believe money will solve all your problems, then you worship money. If you worship money, you’re likely to do anything it takes to get it. Even if it means hurting those you love. And you’ll likely use it to buy the things you want — things that show status. If you believe money is the root of all evil, you’re likely to be satisfied with what you have and won’t be doing much to save for the future. You may not be in debt, but you may also lack a cushion for emergencies. If you have a general mistrust surrounding money, you may not discuss it, or you may lie if you’re asked how much you earn. You may cheat to get more of it, believing that it’s something you’re owed. Utilize a financial planner and remember spending habits. Cut down on frivolous spending, for instance, not buying 10 scented candles from Bath and Body Works for $22.00 each. Refrain from shopping with these items in…show more content…
As we try to build a life, he or she will be out spending money on status symbols making it nearly impossible to achieve financial independence. To truly build a life of financial independence, we need to have the kind of support that allows us to take risks because no matter what happens, there will always be someone waiting at home that loves unconditionally. It may sound surprising, but a tremendous amount of financial success is based upon proper temperament, budgeting, discipline, and

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