Personal Note On Financial Independence Essay

Personal Note On Financial Independence Essay

Length: 1476 words (4.2 double-spaced pages)

Rating: Strong Essays

Open Document

Essay Preview

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. To some people financial independence might mean yachts, mansions, and expensive foreign cars, while to others it might simply mean never having to worry about bills again, knowing they will always have a comfortable home and the time and resources to enjoy their interests and hobbies. For many, not having to work a second job, or maybe just having sufficient income so their spouse could stay home with the children, would constitute financial independence. (Yamaguchi & Templer, 1982)






Part 2

would Describe the target behavior.
So saving money is a great way to get ahead financially. I must practice saving and do it on a consistent basis. I must make minor adjustments to each day and figure out how much savings I would have over the course of a year. Instead of using credit, I would use cash. By using cash instead of credit or debit people, there would be a lot less money spent. On average people will spend 28% less with cash than with a credit card, and 18% less with cash than if th...


... middle of paper ...


... our spouse is equally disciplined, frugal, and investment-oriented, our efforts toward a better, financially independent life are going to be like struggling in quicksand. (Yamaguchi & Templer, 1982)
Marry the wrong person and the emotional, financial, and social toll it can take on our life will overwhelm almost any progress we can make in your career or pocketbook. 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 psychology.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay on A Personal Note On Credit Rating

- Terminology You Need to Know to Comprehend Your Credit ranking Report NEGATIVE CREDIT CAN COME WITH SERIOUS PROBLEMS Your credit rating is a overview of your "consumer character" and as such, can have some pretty bad effects with the wrong details. Our lives for the most aspect center around the choices we create and we are presented with those choices daily, sometimes many times a day. Poor choices, such as spending too much money or over increasing yourself from a credit viewpoint can have a lasting impact on you and your ability to continue making similar choices at a later time frame and time, sometimes, in the case of a personal bankruptcy, up to ten decades....   [tags: Debt, Credit rating, Credit, Credit history]

Strong Essays
1301 words (3.7 pages)

Essay on Personal Note On Life And Life

- Life can be very difficult when one is trying to make a living. Add another person into the mix can make it more challenging. Now figure a child into that equation, and life can make you just want to curl into a ball. I was born to a young couple, who were both still children themselves. After four years, my mother realized she didn’t want to be a mother anymore. Living as a sole parent, trying to raise a child and working full-time is exhausting; luckily my father had help from family. By being an only child, and raised by a single father, I was passed around from family member to family member....   [tags: Family, Anxiety, Fear, Want]

Strong Essays
959 words (2.7 pages)

Personal And Family Needs For The Health Of Older Patients Essay

- Due to America’s rapidly growing elderly population, nurses need to understand and meet the needs of this specialized group. Gerontological nurses are well-prepared to promote the health of older patients by teaching healthy lifestyles, screening to detect chronic diseases, promoting immunizations, assessing for injury prevention, and instructing self-management techniques (Tabloski, 2014-a). J.B. is an active, 70 year old female client who allowed me to interview her for this paper using questionnaires, assessment tools, and scales....   [tags: Health care, Health, Family, Nursing care plan]

Strong Essays
1455 words (4.2 pages)

The Importance Of Education And Personal Financial Independence Through Life Investments

- Introduction The following executive summary is a hybrid of the investments article, “How to start out investing right” and the four of the six major lessons in the best selling personal finance book, “Rich Dad, Poor Dad.” Two different resources that highlight the importance of education and personal financial independence through life investments. We can agree that today’s society possess numerous amounts of resources to become self-employed and financially independent. However, not everybody takes advantage of such resources and fail to become financially independent due to fear of the unknown and lack of knowledge....   [tags: Investment, Personal finance, Finance, Bond]

Strong Essays
945 words (2.7 pages)

Essay about Five Helpful Personal Financial Services

- Five Helpful Personal Financial Services Fauquier Bank Offers For the customer who is looking for a bank that offers some exceptional financial services in addition to the traditional services offered by most banks, there are several banks that really stand out, and Fauquier Bank is one of them. Honestly, it is difficult to find any bank that does not offer some level of financial services today; however, there are certain banks that place a greater emphasis on offering financial services that are more customized....   [tags: Investment, Bank, Financial services]

Strong Essays
1384 words (4 pages)

How To Solve The Current Finacial Crisis Essay

- The financial crisis that is currently affecting the United States of America is the result of several factors, including the growing number of foreclosures, all of which converged into a “perfect storm” of a severe magnitude. The end result was not only the exacerbation of the already looming housing crisis, but the overall bleak outlook on America’s financial system. The integrity of the financial system was put into question along with the future of America’s economy, including its once thriving housing market....   [tags: Finacial Crisis]

Strong Essays
1123 words (3.2 pages)

Essay on The Declaration Of Independence By Thomas Jefferson

- Thomas Jefferson’s “The Declaration of Independence” set forward a movement for change. He believed all men are born free and should have personal liberty, Abraham Lincoln’s “Gettysburg Address” shed light on the new birth of freedom for all. He believed in liberty for all including economic freedom, and Barack Obama’s “Grant Park Victory Speech” brought back hope as we saw a change. All of this progress made throughout history cannot go for granted. One must teach their children the skills to live free....   [tags: United States Declaration of Independence]

Strong Essays
864 words (2.5 pages)

Personal Note On The Diversity Course Essay

- My hope in participating in the Diversity course is to have a greater understanding of our ever changing work environment continues to evolve quicker, than we can keep up with diversity and culture. Overtime documentation has proven the multitudes of benefits of incorporating diversity from financial gain, fewer turnovers of employees, gaining larger consumer markets, inspiring innovation and creativity, and entrepreneurship. More important, I feel we need to look ahead, and begin forecasting what challenges we will have for the future....   [tags: Psychology, Health care, Discrimination]

Strong Essays
1160 words (3.3 pages)

Benefits Of Personal Financial Plan Essay

- Personal Financial Plan Benefits of Personal Financial Plan: • It assists your current financial picture, cash flows, income taxes and investments. • Optimizes cash flows to achieve maximum potential. • It matches with your financial goals. • It brings financial empowerment and intelligence. • Brings clear and sensible roadmap to financial independence. • Let you measure and track investment performance and goal attainment. • Improves communication around the money with spouse or partner. Key components of successful financial Plan: • Assessment: It compiles simplified version of personal financial statements like B/S and I/S which may include personal assets like car and house etc....   [tags: Finance, Investment, Balance sheet]

Strong Essays
2400 words (6.9 pages)

Suicide Note By Janice Mirikitani Essay example

- Suicide Note Analysis In 1987, Janice Mirikitani wrote and published a poem titled Suicide Note. The speaker of the poem, a female, Asian American college student who commits suicide after receiving slightly-less-than-perfect grades, gives repeated apologies to her parents and tells them exactly how she feels in a suicide note - one most probably addressed to them. In the poem, Mirikitani conveys a sad and somber mood while implementing an extended metaphor to compare the speaker to a bird. “How many notes written…” (Mirikitani 1-2)....   [tags: Suicide, Suicide note, Suicide methods]

Strong Essays
1021 words (2.9 pages)