in financial matters means you will never be broken. You can easily make it
available whenever you need the capital. And if that is not the case, you
should take care of yourself and your family without having to call friends to
borrow money from you. This is a bit difficult in a country like Nigeria due to
the ongoing downturn in the economy and the lack of a stable business climate.
Be that as it may, you have no choice than to be financially independent.
of people make this one mistake. They believe the more they gain, the more
financially stable they are. Yeah, getting a high pay salary is nice. The fact,
though, is that you are still working really hard to make the money, and that
you still have to spend it. You don’t get anything beyond your immediate
salary. What if you lose your job? Seek to do something outside of your career
to make a living. Just ask yourself if you lose the job, are you going to be
financially stable? If your response is no, then you need to act.
independence requires a disciplined spouse
will never be autonomous if you have a spouse who spends all of your money on
Indian clothes, London bags, iPhones, and the likes. All of your money will go
to your spouse’s care and you’ll have nothing to invest in. We don’t suggest
you shouldn’t spend but spend wisely and get someone who isn’t too demanding.
future is vitally important. You must plan for it, you can also save money so
you can manage any unexpected incident. Existence is impossible. That
unpredictability makes saving necessary.
investor and not a dealer
dealer is someone who wants to make a profit. They never get relaxed. If the
company does not do well, instead they abdicate it and move into another. But
the strategy for an investor is a long term one. They expect a future of great
benefit and they are very diligent as they work to position the business to
achieve profitability. So, be an investor and not a dealer.
you diversify, one specific source of income does not offer financial freedom.
Don’t bring all eggs in a single basket. Distribute it into various baskets and
you won’t be relying on one source of income long.
beneath or within your means
financially stable if you earn 20,000 as a salary and live in an apartment
worth 500,000, and eat food worth 2,000 a day. Financial freedom the rule of
thumb is to live within your means. Even if you earn more, spend less and make
sure you save