Here's Why You Must Strive For Financial Independence

Often financial independence is confused with someone going out to work and in the process earn his wages. Earning is a means to be financially independent, it in itself is not the independence.

 

Financial independence is a moment, a stage in your life when you are not dependent on your current income to support your lifestyle, i.e. even without your monthly salary or profits from business, you can very well sustain your lifestyle. Now, why is this concept so much important and why should you strive towards it.

 

Freedom:

 

Financial independence gives you the freedom of stepping out from the rat race and maybe indulging for a while in what you love or what you aspire. As humans, we all want to nurture our inner selves and financial independence provides us the outlet as we need not worry about our bills and grains.

 

Confidence:

 

It is often seen that people who are financially not dependent have a higher sense of self-esteem and confidence probably because they know they are sufficiently backed up. This may allow them to take certain decisions which they otherwise might have not taken.

 

Giving back to society:

 

Only when you are sufficiently secured, can you think of giving back to society with free hands. As Hindus, we are compulsorily required to take out certain percentages of profits to help the less fortunate. But only when your own plates are full, can you think of feeding others with open hearts

 

Cover for contingencies:

 

Needless to say, weather changes and so does time. Financial independence harbors you from rough waters if ever you encounter them.

 

Even if you are a homemaker and your husband is earning enough to provide for your expenses, you should still strive to build your own financial independence. You can save some amount which over the years will multiply and you wouldn't even realize that you have reached a stage where you can you provide for your expenses. If you are creative or in possession of a talent, tap it. Begin from your home, start in your free hours and see your empire being built, brick by brick. Good luck.

 

Also read - 7 Financial Tips Everyone Should Know

 

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