In the spirit of the 4th of July we recently celebrated, I have a question for you. Are you financially independent?
I’m curious how many of you responded with a resounding YES! But I’m guessing many of you are either shaking your head ‘no’ or furrowing your brow, wondering if you are.
Let me clarify.
You are Financially Independent if you have enough to meet your needs and satisfy many (not necessarily all) of your wants…free from the stress of overdue bills and struggling to make ends meet.
Financial Independence has nothing to do with how much money you earn, but how much money you keep. You achieve it by spending less than you have and saving more than you need.
But for some of you, spending less and saving more is akin to self-imposed poverty. I’m reminded of an email I once received…
“How can I SAVE money to create wealth (which means cutting back spending) and still have a feeling of ABUNDANCE (which means the desire to SPEND) and not a mentality of LACK?”
In her mind, spending provided the pretense of prosperity while saving felt like self-denial.
To someone with a wealthy mindset, saving means giving the money to yourself (not Visa or Starbucks) so that ultimately you can purchase whatever you please without pressure or worry.
The difference between the two mindsets is not deprivation but delayed gratification.
I remember, as I struggled to clean up my financial mess, my mentor, Karen McCall, saying to me, “It’s ok to have massages, but what if you had one a month instead of every week, and deposit what you would’ve paid into your savings?”
I followed her advice. And because I did, I gave my future self the gift of financial independence.
What could you do to give yourself the gift of financial independence? Leave me a comment.
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