What Does Financial Independence Mean to You?
What does it mean to be financially independent? Wrapped in that idea of independence is the ability to make good decisions about your money…and then acting on those decisions.

Also included is the ability to budget…to determine how much money you have coming in and how much goes out (is spent) on a regular basis.

It means knowing when you’re in over your head…and when to ask for help. It doesn’t mean hoping or asking for mom and dad to bail you out of a jam.

It means working…and realizing that the entire amount of your take home pay can’t be spent only on things that you want. Instead, you need to begin by paying for those things that you need.

You’ve probably read a lot…and will likely read more…about wants and needs—and telling the difference between the two. There’s a reason: recognizing the differences between what you want and what you need is at the core of establishing a budget and maintaining sound spending and saving habits.

Think about your earning, spending, and saving habits. Are you on the road to financial independence?