Are you always running short of funds? Do you still have to borrow money sometimes to at least live comfortably? Do you get to pay your bills on time? If you answered mostly yes, then you are in danger of being financially unstable. You cannot afford the things you want and sometimes, even the things you need. Don’t go sulking out there. You better move your body. If such is the case better tell yourself that you cannot afford to be that way always. You have to be financially independent. What is financial independence? Financial independence is the capability to determine and support yourself through your own endeavours. There are 7 ways or habits to follow to gain financial independence. With the right attitude and the proper goal in mind, you might just find yourself beaming with pride because of achievement.
1. Hand a focused vision
Start with a vision. What is your vision for your life? Where are you definitely heading? You want financial independence. You want to be able to stand on your own and have a more stable and secured life, for yourself and for your family. Keep that vision in mind. Hold on to it as you start to realize that vision. The choice and decisions you will make in the future will have to head towards the direction of your goal. Return to that vision when things get doubtful or tough.
2. Invest your money wisely
Generate income. Your income will be the financial foundation of your vision. This will basically come from your job’s income, but don’t settle with that. Aim to increase your income. Invest your time, money and effort into a beneficial enterprise. Start a business that you feel passionately about and make sure it will work. Think carefully of every detail in your enterprise and work on it. Do not settle with good enough results. Aim for excellence, quality and integrity to succeed.
3. Save up
Although it is not considered compared to a good investment, it is still a good way to keep money for your future. Just make sure you maintain the money in your savings account. Avoid touching it unless it is really necessary. Give value also to your coins. Every single kobo matters. Even if it is considerably small amount; it will find some use for that.
4. Spend wisely
Don’t spend all your earnings. As they say, don’t earn to spend. Buy only things that you really need. Tighten those belts for now as you bank for a more secured future, choose to live simply. Forget the seed to show off on other people that you can’t afford. If you want to achieve financial independence, you must hold on to your money as much as possible. Avoid incurring debts as much as you can. Take control of your finances as much as possible. Make ends meet in the meantime for later on in life, you will surely afford to be leisurely.
5. Keep contingency plans
You must plan ahead for events in the future. Have contingencies. Make certain that your financial assts are secured. At this phase, it is a good option to get an insurance policy. Insure your life, health and property even loved ones. Protect your interests whenever you enter into any engagement. Make sure that your endeavour is legal, that you are financially capable, and that it is feasible within your means. This way, you will have optimal performance and desirable results. You could prevent harmful losses in the long run.
6. Take care of yourself
Health is wealth. The only way for you to achieve your dreams and be able stand on your own is when you are physically and psychologically able to do so. Have regular check ups with your physician. Have a healthy diet. Exercise regularly. Health will be your asset to achieve financial independence. Only a good physical standing would allow you to enjoy the fruits of your toils today.
7. Be unstoppable
You must keep yourself focused to achieve the goal of being financially independent. Do not let yourself be distracted by whimsical desires. Do not spray. Do not procrastinate. Every kobo and every minutes counts, as what you do today will have a lot to say on what you will have in future. Take advantage of every opportunity that will come your way. Keep yourself confident. Tell yourself, you will not be a loser in this game. You have to make it.
Culled from The Adviser
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