What are you doing to celebrate our Nation’s Independence Day tomorrow? It is the perfect time to begin celebrating your life and become financially independent. Learning is the best first step. Get out there and learn from the pros and educate yourself. If you are assuming you know all about money already, how are you doing with that? Unless you have put yourself into a financially strong position that has your money working for you, you need to re-think your plan.
The key steps to being financially independent are:
- Learn and Live: It isn’t enough to learn about personal finances and money. You have to live what you learned. Put what you know into action.
- Earn More: Increase your earnings. This may mean you get a second job, start a business, or finish getting your degree to land that promotion. Explore your options and make it happen.
- Reduce & Save: Cut expenses and save, save, save! Replace the spending on the “wants” with savings for the “needs”.
- Get Rid of Debt: Quit giving your money away to banks and finance companies through interest payments. Keep it, save it and make it work for you!
- Invest: Make your money work for you. Turn those savings dollars into more dollars with investments.
- Twentysomethings: It’s Time to Declare Your Financial Independence (dailyfinance.com)