Financial indepedence
- innovatebiomed
- Feb 3, 2020
- 1 min read
Updated: Mar 17
“If you want to be financially-free, you need to become a different person than you are today and let go of whatever has held you back in the past”
To become Financially indepedent should be one of your most important goal.
The first rule for financial indepedence has always been spend less than what you earn.
Keep track of your expenses.
Live on a monthly and yearly budget.
Reduce or avoid unwanted expenses.
Save at least 10% of your income in a separate account and name it financial freedom account.
Increase your savings as your income increase.
Decide when do you want to retire from your job.
Calculate your financial freedom number – how much money will you need to live the rest of your life comfortably when you retire.
Make that number as your financial freedom number and start moving towards achieving that number.
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