Sunday, February 5, 2023

5 steps to financial independence

November 10, 2010 by  
Filed under Articles and Features What is financial independence?

It’s the ability to maintain your standard of living without running out of money, no matter what happens.

Many people don’t think they earn enough money to achieve that kind of security.

But the key to building wealth is not how much you make, it’s how much you keep.

Our 5 simple steps to financial independence are all you need to get started:

Step 1. Take responsibility.

Stop blaming the fact that you’re living paycheck to paycheck on everyone from your parents to the government.

Set your get-rich-quick schemes aside. You aren’t going to win the lottery and the tooth fairy isn’t going to leave a big check under your pillow.

It’s time to accept the fact that you, and only you, are the master of your financial destiny.

You’ve got to embrace the notion that taking responsibility for your future requires discipline and sacrifice.

It means spending less and saving more. It requires you to stop buying things on credit and get out of debt.

At first glance, it may look like you’re giving up a lot. But you’re not. You’re merely learning to live with things you don’t need so that you’ll always have money for the things you do need.


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