Monday, May 29, 2023
booked.net
Reducing our footprint!   For every issue we print, we plant a tree!

No products in the cart.

  • About
    • Contributors
    • Disclaimers
    • Terms & Conditions
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
  • Home
  • News
  • Opinions
  • Lifestyle
  • Events
  • Columnists
  • Videos
  • Advertise!
    • Online
    • In Print
    • Classifieds
No Result
View All Result
No Result
View All Result

Ways To Achieve Financial Independence

Jane Doe by Jane Doe
April 1, 2019
in You May Also Like
Reading Time: 3 mins read
18
SHARES
85
VIEWS

Whenever people think about financial independence, they think of a bulk sum of money that they can use to change their lives. They usually think of winning the lottery or getting an inheritance from some rich distant relative they didn’t know about. Truth be told, however, achieving financial freedom isn’t about getting a huge injection of money into your bank account, but a lifestyle. Financial independence means that you have enough of an income to sustain your living expenses for the entirety of your life without the need to work a full-time job.

You might also like

Tips for Choosing the Perfect Engagement Ring

The Advantages of Online Auctions

Summer Wedding – Everything You Need To Make It Special

We’ll look into ways that can help you achieve financial independence and find what works for you.

1.    Keep a buffer on your budget

It wouldn’t do well to spend as much money as you’re earning. While only you can decide how much of your paycheck you have to live with every week, it’s generally a bad idea to use up 100% of it every single time. It really doesn’t matter if you’re earning 10 times of what you are now, if your savings have nothing to show for it, you’re still going to stress over your finances. Whenever you plan for your weekly or monthly budget, allow breathing room on your expenses, so you can actually save a bit of money in case of emergencies.

2.    Set aside money for investment and real estate

A huge mistake many people make is living paycheck to paycheck, with very little regard for the future. There will come a time when you are no longer physically able to work, and the money will stop flowing. What will you do then? Putting money into investments will allow your finances to grow and allow you to secure your future, even if you no longer have to work.

Real estate generally is a good place to start for a savvy investor. If you don’t know a thing about real estate, however, there are advisors and resources you can make use of to help you maximize your investments. One such article on 1031 Exchange Real Estate talks about making the most of the money you earn in your prime and help you improve your real estate portfolio.

3.    Live within your means

One of the best ways to achieving financial stability is by simply curbing your expenses. Many people don’t have an idea how much they spend every month and find themselves constantly struggling days before getting their paychecks. By simply keeping track of your expenses and spending less, you can ease up a huge strain on your money.

A good way of lessening your expenses is to not rely too much on your credit cards. Don’t buy something you don’t actually have money for, because that basically mean debts, and debts mean interest rates, meaning you’ll end up paying more eventually. Pay with actual cash or use a debit card instead.

Living a frugal lifestyle to achieve financial independence doesn’t necessarily mean living cheaply. It basically just means that you need to put more effort into saving your money for the future and for investment. If you have a decent salary, you can live off of as much as 50% of it and still be comfortable. Discipline is the key. You should own money, not the other way around.

Author

  • Jane Doe
    Jane Doe

    The information contained in this article is for informational purposes only and is not in any way intended to substitute care or advice from a professional.

    View all posts

Next Post

Free $200 of Energy Saving Upgrades at Cornwall Spring Home and Leisure Show

Inner Site Sidebar

Advertise Here
Facebook Twitter Instagram Youtube TikTok
Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom left corner!

Content Safety

HERO

theseeker.ca

Trustworthy

Approved by Sur.ly

2022
The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within. The opinions and statements of our columnists are not to be presumed as the statements and opinions of The Seeker, and should not substitute professional or medical advice.
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • Opinions
  • Lifestyle
  • Events
  • Columnists
  • Videos
  • Advertise!
    • Online
    • In Print
    • Classifieds

© 2023 Reducing our footprint!   For every issue we print, we plant a tree!

You were not leaving your cart just like that, right?

Enter your details below to save your shopping cart for later. And, who knows, maybe we will even send you a sweet discount code :)

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Go to mobile version