Financial independence.
This is the goal of a lot of people, but unfortunately, only a small group can achieve it. The good news is that you can belong to that group.
No law prevents you from doing that.
The only thing that will hold you back is yourself. If you are too afraid to take the necessary steps and to make the sacrifices needed to be financially free, then no one else can assist you.
To help you out, here is a short road map to financial independence that you can use as a guide:
1. Starting Point
You have to start somewhere.
That starting point is different for each individual, but whether you are living from paycheck to paycheck or you can save money, this is the point you decide to make things better for you and when you take control of your life.
2. Meeting Your Financial Obligations
This is the stage when you are making more than what you are spending. The difference may not be that much, but what is crucial is that you are only spending the money you have.
At this point, you should not be acquiring new debts that can derail the whole process.
3. Stability
This is the level where you have attained some degree of stability. That means you are free from high-interest debts, you can pay bills on time, and you can start an emergency fund.
This is the point where you will start to feel the difference, though it is still minor. Be careful. It will be very easy for you to fall back into your former situation.
4. A Bit of Independence
This is the point where you are really going to feel the blessings of financial independence. Your basic living expenses can now be covered by your extra sources of income. You will have more money that you can spend on minor material things.
5. Freedom
This is the level where you feel free. You no longer have to work, and you can go back to school and do things you have always wanted to pursue.
But you should not be satisfied with being on this level because you can go even further.
6. A Higher Level of Freedom
Now, this is the level of financial independence that most people are dreaming of. This is the point where you do not have to worry about money because you have a very large financial safety net.
In other words, you have more money than you can spend. Few will actually achieve this level, but there is nothing wrong with aiming for it.
This is just a sweet, short guide you can use to get financial freedom. Follow it and you will not be lost. Eventually, you will reach the last level that should be your aim.
As to the details on how you can achieve the levels of this road map, you will have to do more research. There is no single path that will be applicable to everyone. You need to find your own.
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