Here we are in July, steeped in seasonal reflections on Independence.
Wikipedia’s rather lofty definition of financial independence is “a term generally used to describe the state of having sufficient personal wealth to live indefinitely without having to work actively for basic necessities.”
Not sure how one “lives indefinitely” but we are pretty confident that “financial independence” does not happen to only trust fund heirs. In fact, financial independence can be attained even on a modest salary. Sure, it’s easier if you have a lot of money but the simple formula remains — spend less than you make.
The problem lies in that stack of monthly bills on your desk and those unexpected expenses – like that $1,200 dental crown you lost while eating that $7 sandwich. These realities can make it easy to pronounce defeat and let external forces determine your financial destiny.
In this season of liberty, betwixt July 4th and Bastille Day, we prefer to focus instead on how “we the people” can take control of our budgets and pursue financial freedom.
In the spirit of Liberty and the Enlightenment, we share with you links below to more information about financial independence and a video. Check out what others had to say on the matter.
Share your thoughts on this topic in the comments!
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