It might be safe to say that we are accustomed to the reality of having to work to earn a living. In fact, many of us are unlikely to know any different; because, since we can remember, Mum, Dad and other family members have been toiling to make ends meet and to provide for themselves and the family.
At the same time though, we cherish the thought of reaching financial independence; that is, to adequately provide for our living expenses from our own accumulated resources. And, the quicker,
the better, most might agree.
But, we hear you ask, “how do I get from being a mere salary or wages earner, to a position where my wealth will be enough to cover my financial needs and dreams?”
This requires a focused and dedicated mindset; one where – by diligently taking control of your money – every cent of your earnings that is not spent elsewhere, is put towards reaching the goal of financial independence.
Are you financially diligent?
Find out by answering our simple money management quiz.
As the quiz may have highlighted, there are often factors which warrant closer attention as you go about making everyday financial decisions; and, perhaps more so when you are committed to reaching a goal of financial independence.
By taking control of your money, you often need to review the options to ensure that your choices and actions are aligned with the best possible financial outcomes. However, with the high and ever-rising costs of living, saving more may be easier said than done.
Replacing a propensity for spending with the habit of saving can often seem unattainable; yet, through determination and a focus on diligent budgeting, even from a seemingly insignificant start, your savings can soon grow into a substantial amount. And, by leveraging the power of compound interest, your money works harder, forcing savings to grow faster.
There are many options available. By consulting with a qualified and licensed financial adviser on your journey to reaching financial independence, you will be better placed to ensure your decisions are better informed and aligned with the most appropriate investment opportunities to suit your specific needs and objectives.
Do you need professional guidance with managing your money?