Financial independence is normally used to define the state of acquiring sufficient personal wealth in order to live, without necessarily having to actively work for your basic necessities. People who are financially independent have their assets generating greater income than their expenses. A person’s liabilities and assets are a vital factor in calculating if they have realized financial independence.

What are the three secrets to achieving your financial independence?

Today we are admitting the fact that there are more self-made millionaires as compared to the past days. It is much easier to fulfill your goals today than you might think due to the increase in financial independence globally. From recent financial studies carried on successful people, there are three major secrets to financial independence that you need to observe in order to be successful. In fact, now you don’t have to jump through hoops to buy XRP. See instructions for how to buy xrp online.

  1. Spend less than what you earn

This is an obvious factor but majority of people live on paycheck to paycheck expecting to win a lottery without considering building their approach to financial independence. Begin by saving a portion of your income. This might be tough sometimes, but begin with just setting a little portion of your earning as savings.

  1. Invest your money wisely- Make your money work for you

Once you have started saving, it is now time to start making your money work for you. You need now to spend much of your time learning on how to invest your money & get Top Trade Reviews. Try getting a secure good interest off your savings and letting that interest grow into the money machine that you deserve.

A portion of your savings should be converted into your “financial fortress” that you should never touch for anything ever.

Your “financial fortress” simply means whatever portion of your saving that keeps you safe. Financial fortress enables you realize that you are ever safe by generating a steady income yearly.
You should never touch your savings in the fortress! In case you are at fix and you have to use part of your savings then you can use the interest. However, your key point of saving is to build your interest bigger for your future projects. Look wisely into all the best Canadian technology stocks then make intelligent investment.

  1. Pledge to dedicate a portion of your savings into fortress and allow it to grow steadily.

The methodology of dedicating a portion of your savings into fortreskkks is used by millions of people globally. The techniques here are accessible to anyone, simple, but most often overlooked.

Majority of the self- made millionaires these days live in places and with neighbors who are very green on the idea that they are millionaires. They pose strong financial independence that grants them the freedom to live whatever life they want to live without any difficulty or strain.

However, many self-made millionaires will not waste their money whatsoever. They know exactly what to spend on at what time ensuring that they completely avoid waste at all cost.

You need to spend your hard earned money on things you strongly care much about, but ensuring that you make smart verdicts with your economy. Always ensure that you keep your financial fortress secure and safe.

Stages of Financial Independence

In life, you cannot roll from being broke to wealthy in one single step! Also, there is no magic that will suddenly change your financial life overnight for you. This journey has to pass through stages and therefore you have no option other than doing it yourself.

You therefore need to calculate through your path that will lead you to complete abundance and financial independence. This path has stages hence you need to celebrate your advancement at every stage you achieve.

Stage 0: Financial Dependence

Everyone begins life from a stage of dependence by depending on others. For instance, you may be young grown-up transitioning from depending on your parents’ care growing gradually until you are self-supporting. You may also need aid from other when things have hit fallen apart in your life as an adult!

Regardless of where you are beginning from, your first step is transitioning from being reliant on others to being financially solvent and self-supporting.


Stage 1: Financial Solvency

Your first stage of becoming financial independence is becoming financially solvent. Being financially solvent simply means the capability of supporting yourself surviving on your income without seeking aid from others and managing all your bills.

Depending on your point of start, there is vast range of strategies you can deploy towards realizing your financial solvency. You may have to create your income for the first time. You may also need to switch from a low or an unreliable income to a better and bigger income. Also, you may need certain ideas to help you renegotiate debts with creditors.

Stage 2: Financial Stability

The moment you reach a point where you are up-to-date on your bills, it is now essential that you build your buffer account. You can call the account any name you wish; rainy day fund, buffer account, emergency fund, cash reserves, or any other name you might think is right for you.

Unanticipated problems do happen, unanticipated opportunities will present themselves and you will require money!  In case you have no money saved in your account, you will definitely fall in arrears on your bills forcing you to fall in debts.

In such occurrences, you will not be in a position to grab advantage of perfect opportunities that may crop up because you have no cash. You need to figure out the amount you need in your buffer account first before saving it, then now declare yourself as financially stable.

Stage 3: Debt Freedom

In case you have debts, you will definitely want to clear it. All debts are not created equal.  Take time and analyze your debts making plans to dump debts that are not getting you any closer to your financial independence.

This directly means that you need to get rid of debts attracting high-interest rates, clear your name from unpaid old debts, dumping all consumer debts that are tied to your depreciating assets, and planning to clear debt on any investment assets or productive business.

Debt freedom simply means being in a financial position to enjoy greater independence and freedom in your life.

Stage 4: Financial Security

Financial security is achieved when all your life basic needs are covered fully by your investment income.

Stage 5: Financial Independence

Financial Independence is achieved when your investment income can meet your present lifestyle expenses. Congratulations if you reach this stage!

On hitting your financial independence stage, you can decide to exit work if you so wish. The crucial point at this stage is to simply know that your verdict is solely up to you and you alone!


Anyone in his rightful mind has the capacity of making themselves financially independent at any time. This whole process takes different duration of time depending on your saving capacity monthly and how much financially independent you would want to be. The journey begins with a single step; you can begin your saving journey today and steadily work towards your set goals gathering more momentum in this journey of becoming financially independent.

Just follow the steps we mentioned.