The majority of humans are money slaves, having their entire lives dictated by money. The antidote, ironically, is personal finance. Yes, thinking about money should not consume your life, but ignoring the topic of personal finance will surely ruin your life sooner or later. The lives of many are dictated by a full-time job, and I found myself in the same situation when I began my career – “cash poor” and “time poor.” As time went on, I hope to transition to a state of being “cash rich” and “time rich.” But sadly, I am witnessing too many people working their entire lives, remaining stuck in the same “cash-poor” and “time-poor” situation they started with, even not being able to retire.
It was this realization that sparked a burning desire within me to seek financial independence. I craved a life where money was not a worry about money, and I could savor the luxury of time to pursue my passions, explore the world, and spend quality moments with loved ones. A time, when I would not have to depend on someone else to deposit a monthly check in my bank account (or customers buying your product if you are self-employed). In this article, I aim to articulate the reasons behind my personal decision to embark on the journey toward being fully financially independent.
To me, there are many different stages of financial independence. This is why the title is “The Path OF Financial Independence” and not “The Path TO Financial Independence”. When you are able to quit your job with a toxic employer without having another job lined up because you got enough money saved for a couple of months, you have already become financially independent for that amount of time. When talking about financial independence, it is often understood that you either are financially independent or you are not. Financially independent in the eyes of many means you never have to work again in your life. This conception of course isn’t wrong, but an all-or-nothing way of looking at it, scares many, and most people on this planet will never be “truly” financially independent in that sense. This way of looking at it is very goal-oriented, which again isn’t wrong, but in my opinion, what you should really strive towards is a process-oriented life. Enjoy the process, because your entire life is a process. How much time is spent actually feeling the accomplishment of a goal achieved? Each step towards being more financially independent should be a rewarding one. Not living paycheck to paycheck is already a step way ahead of most people.
So why did I choose the path of financial independence?
Like so many others, I am trapped in the “rat race” until a later stage of financial independence – the rat race is the cycle of working hard to earn money, spending it on daily expenses and debt payments, and then working harder to maintain that lifestyle. It can feel like running on a hamster wheel, getting nowhere. I yearned for a life where I could break free from this cycle, gain control over my finances, and find fulfillment beyond the constraints of my job.
Achieving financial independence means having the freedom to call the shots in my life. I envisioned making decisions based on my values and interests rather than merely sustaining a paycheck-to-paycheck existence. Financial independence equates to taking charge of my destiny, paving the way for a life of purpose and joy.
Life is unpredictable, and unexpected circumstances can bring financial hardships, so a financial safety net is a necessity for me. By striving for financial independence, I aim to build a robust safety net (and already have) that can protect me from unforeseen challenges, granting me peace of mind and security.
Financial independence is not merely about accumulating wealth; it is also a journey of personal growth and self-discovery to me. It necessitates financial education, disciplined saving, and investing, fostering habits that promote personal development along the way. This allows me to not merely stress about fulfilling Maslow’s lower levels of the hierarchy of needs but to focus on the upper levels like self-actualization. Money worries can be all-consuming, impacting every facet of life. My pursuit of financial independence entailed adopting a mindful and conscious approach to spending, saving, and investing. This not only reduces financial stress but also allows me to focus on the things that truly mattered to me.
Beyond my own aspirations, achieving financial independence means being able to not focus on surviving myself but to focus on others and helping them succeed, whether that means supporting them financially or with my time. By building and preserving wealth, I can create opportunities and support causes that would have a positive impact on society even long after I’m gone.
As I progress on my journey toward financial independence, I hope to inspire others to take charge of their finances and pursue their dreams fearlessly. Help others reduce stress and live more mindful. Financial independence is a journey or path that can be embarked upon by anyone, regardless of their background or income level. Taking your first step on the path of financial independence means you are already ahead of most and having a little financial safety net can already reduce your stress level.
My decision to pursue financial independence is not about hoarding wealth or sacrificing the present for an uncertain future. Instead, it is a quest for a life of freedom, purpose, and meaningful experiences. By taking charge of my personal finance, I can unlock the door to a future where I can thrive financially and live life on my own terms. My journey toward financial independence is ongoing, but it has already transformed my life in profound ways, guiding me toward a future filled with abundance, contentment, and the pursuit of my dreams. I encourage everyone to embark on their unique path toward financial independence and witness the incredible transformation it can bring to their lives. Each path is different.
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