8 Steps to Become Financially Independent
Everyone's definition financial independence is different. However, the one common goal is the ability to live comfortably off your investments and having no debt hang over you. Here are steps you can take toward financial independence..
1. Visualize your goal and be very specific followed by a detailed plan.
2. Track expenses & have a budget.
3. Eliminate debt
4. Live below your means or only purchase items that truly serve you and can be bought in cash.
5. Have an adequate emergency fund on hand during tough periods including the right balance of insurance
6. Put your passion even part time to work to add value to others and generate residual income
8. Have a specific investment plan focused on growth. Invest in assets that produce income.
Having a lifestyle you enjoy without worrying about money is the best feeling. Start today with these steps toward creating a life that be past on to your children through example. You will not regret it.