Menu Close

How to be financially Independent?

Become financially independent
Reading Time: 3 minutes.

Finance is one of the major factor which decides course of action for any individual. Whatever we work for is to have a sense of stability in our mind regarding money. So we are going to discuss ways to become financially independent.

First we need to know what actually means to be financially independent. It has different meanings regarding to  individual needs. Majority individuals  consider having a home, a car and some savings to be financially independent. So it takes a plan to visualise what financial independence means to you.

Be Free Be Independent

Here are few IDEAS to get you started in process of becoming financially independent :


  • Develop self-discipline: Having a disciplined life is must to achieve your goals. No problem, most of us  are not disciplined. We sleep late, wake up late, waste our time watching tv shows. It happens with majority of individuals. So it takes a motivation/will power to do things you are not accustomed to. So my advice is to start slow. Take one habit a time and develop it over time.
    • Eg. You can just start be sleeping early. Make it a habit. Think of benefits of sleeping early. Later you can add more discipline goals to it like waking up early, reading, investing your time in things you want to do.


  • Spend less: Spend only for things you need. I am not saying you to buy cheap clothes,watches etc. I mean to say spend your money wisely. If you want dresses , buy them during SALE (40-50% off). If you need to buy any gadget you need to think whether it improves your life for the money it costs. You must list down pros/cons before buying anything.Spending time searching for product on different sites may help you save money.


  • Safety first: One of the key issues that is discussed very less is having insurances. It is very important to have at least medical and accident insurance. It may cost you a little each month/year , but help you save in long run.


  • Avoid heavy use of Credit cards: We tend to use credit cards more that we need. A recent study shows people who own credit cards tend to spend more money monthly that others. It is normal human tendency. So better be aware of the purchases you are making with credit cards.


  • Build passive income source: Apart from the money you make from salary , it is very important to have passive income sources which generates money for you. We know investing in stocks ,real estate, gold, cryptocurrencies can involve huge risks. So it is better to study them first before investing. Here is a post I wrote about technology involved behind bitcoin. Investing in mutuals funds can help you achieve big goals in future. Just start with investing small amount monthly.


  • Have a secondary source of income: Having a mainstream career is important. But everything should have a backup. Just think of secondary source of income. It can be investment in case you understand stocks better that others. You can start blogging, Youtube channel etc. You need to invest a small amount from your free time to develop it to a stage where it starts giving you rewards.





  1. Cha

    being financially independent is one of the many goals of all people. but, we lack the first requirement – discipline. no matter how much determined we are to achieve something, but if do not know how to manage and discipline ourselves, it all boils down to nothing. great post! thanks for sharing.

  2. Kelsey

    Those are all important things to think about! I think it’s great that you brought up habits. It’s easy to miss how much our habits affect our finances sometimes, but they really do! And you’re definitely right about working on habits little by little. It feels slow going, but it’s the only way that’s truly sustainable. Similarly, financial independence is slow-going but much more sustainable!

    • Jaimie

      I totally agree! Habits are huge when it comes to finances. It reminds me of one of my favorite books “The Slight Edge” by Jeff Olson. He does a great job helping his readers see how tiny, small, seemingly insignificant habits compound over time and can completely change the direction and outcome of your life. Reading this post, I felt totally convicted, because I have let some things slide and some bad habits have crept in. (Yikes!) Time for some change. 🙂

  3. nicole durham

    i love how you were able to break these down into such simple steps. makes them feel easily attainable and like i could just jump right in and start

  4. Jaimie

    I absolutely love the advice given here! These are such foundational tips for finance! Self-discipline is so important, and it can be hard to stay focused, especially with outside pressure from friends, family and society as a whole.

    For example, my little Ford Focus was rear-ended not too long ago. Of course the insurance company decided to total it (rightfully so), even though it was a lower-speed impact. Family and friends saw it as an opportunity to buy a brand new car, which I didn’t agree with at all. I bought back my car for $281 and fixed the rear end with used car parts for $858. Then I waited and watched. Finding an extremely good deal on a Subaru Forester, I pounced on the opportunity using only the extra funds from the insurance payout. Now I had two reliable commuter cars (which we needed), with no car payments.

    So with self-discipline and spending less, we are further ahead financially. 🙂

    • techislife93

      I agree with you Jaimie, Discipline is must for achieving any goal, not just finance. Having control over one-self help us decide better for every event in our life 🙂 .

  5. Samuel Langley

    Enjoyed reading this post. Obviously financial independence is important for living an independent life and this post really helps point out some of the ways you can very clearly. I also agree with the staying safe as you shouldn’t always buy things you can’t afford, although for houses and wise investments it can sometimes be worth it. Risk and reward in mind though!

Leave a Reply

Your email address will not be published. Required fields are marked *