Breaking Free: The True Meaning of Financial Independence
What is Financial Independence?
Financial independence, isn't merely about accumulating wealth. Instead, it's about developing the wisdom, knowledge, and understanding to make informed financial decisions independently. This independence reduces risk and equips us to handle life's uncertainties.
Are you making financial decisions independently, or are they dependent upon others, such as the government, parents, and friends' advice?
If you are unaware of a problem you are highly unlikely to avoid and prevent it from causing chaos in your life.
How to become Financially Independent?
Prerequisite
A person becomes financially independent long before they see a million dollars in their bank account. It starts with a mentality shift that provokes them to take responsible for their finances.
Step 1
Become aware of the truth that surrounds finances by collecting knowledge. This doesn’t require much effort.
Step 2
Is to process this knowledge so that you understand how and why it works. Getting knowledge with understanding is very important. Without it, knowledge is useless information.
Step 3
Is to apply wisdom to your circumstances. This is using your understanding to make informed decisions relating to your finances.
A financially independent person learns from their mistakes and develops confidence in their ability to make wiser decisions as they learn and grow.