As you celebrate today, I urge you to set your sights on financial independence.
What is financial independence?
To me, it is peace of mind. I know that I can pay all my bills on time. I will never be without a roof over my head, food in my belly, or clothes on my skin. If I ever need money I don’t have, I know I can borrow.
But independence does not come free; it demands a great cost. Reaching financial independence requires sacrifice, but it’s well worth it. It requires spending less than you earn and saving as much as you can.
For me, I never bought anything I could not afford. I went without gadgets, designer clothes, and fancy jewelry. Of course it hurt. But, looking back, it was the best financial decision I ever made. I used my credit card often. When the bills came, I paid each one in full and on time. Not only did I save on late fees and interest, I built an enviable credit score. This took a lot of time and planning. I set aside an hour a week to examine my spending, savings, and budget.
A few years ago, I took up vegetable gardening. It is the most rewarding activity—you till the soil (very hard work), plant the seeds, water them regularly, and within three months, you are rewarded with a bounty. My first season was a flop. I learned from it, and today I know that I will always have food to eat.
Many years ago, we decided that every extra dollar that comes into the household will go to pay down our mortgage. Now that the mortgage is paid off, I know I will always have a roof over my head.
For clothing, there have always been wonderful department store alternatives: Goodwill, Designer Consignor, Clothes Mentor. Why would I shop anywhere else?
If you want to learn how you can achieve this financial independence, join our Money School. The only cost to you is your time. Classes, coaching, and counseling are absolutely free.
Here is to your financial success and peace of mind. Cheers.