Financial Independence

What is "Financial Independence"?

It is the million dollar question that what does it really meant to be financially independent? Is it that much necessary to have at all ?
I know that you are thinking exactly in this fashion. Well if you are not independent financially, then this article is dedicated to persons like you. So go on and know the importance of having financial freedom.
If you quit your job (or maximum recurring income source), if you are still able to live the same life style till the end without loosing any luxuries, then you are called as financially independent.
So if you leave your job and still you are able to live with the same standards in the future for a very long time, then you are one of the financially independent persons.
Well, if you think you are not one of them, then it is the right time to begin with.

Why one should have Financial Freedom?

As the world is full of uncertainties, it is very important to be financially free to face any challenges in the future unexpected. For this you should be in a position where if you quit or loose your job, then also you must not regret for loosing your income source and that particular loss may not effect you more.
I am not saying you to leave your job. But in case if you have no option but to quit, then you should not repent for it.
So now I think that you have understood that if you become financially independent, you are more secured as you have not to bother about loosing your job. Financial independence will give you more security as well as more respect in the society.
You will be admired by your colleagues, neighbors,relatives and family members.
So as you are financially free man, you will be able to give all the joys of this world to yourself and also to your family. This means a good education, good lifestyle and many more.
Financial freedom makes you more confident and more optimistic. Your personality will also cherish.

How to be Financially Free?

Now you have realized the benefits of financially free. So you might be thinking that how can I become that much free from my financial part.
So here are three simple steps for becoming financially free.

Step-I:Planning :-

There must be proper planning before you start anything in your life. If you start any work without proper planning then it will be like a ship sailing without the sailor. Your unplanned ship may anytime hit an iceberg. So proper planning of your goal is of utmost importance. Have a plan about how much you will be saving and how much amount you will be investing from the savings.

Step-II:Saving :-

As we know that money saved is money earned, you must save maximum amount of your earnings in a preplanned manner. Start with saving a little amount(if you haven't started saving money at all) and then gradually increase that amount. I will bet you that it will become your passion to save your hard earned money.

Step-III:Investing :-

Stop! you are not yet became financially free as mere savings will not get you in a really financially independent position. Savings will return you small amount of returns when they are term deposited in the banks. So to be more independent, you should invest your money. I am saying to invest and not to buy any stock or like that.

Now come on get it started right now.
*** There is no right time to begin a right thing ***