Financial independence means that you will never be broke. Whenever you need money, you can easily make it available. Even if this is not the case, you can take care of yourself and your family without any need to call on friends to lend you money. In a country like Nigeria, this is a bit difficult due to the trending economic downturn and the lack of a stable business environment. Regardless, you have no choice than to be financially independent. Jumia Travel, the leading online travel agency shares tips that will help to be financially independent.

Income is not wealth

This is one mistake many people make. They think the more they earn, the more they are financially independent. Yes, it is good to have a high-paying salary. However, the truth is that you are still working very hard to make the money and you are yet to invest it. Beyond your immediate salary, you do not have anything. What happens if you lose your job? Try to do something outside your job to earn more. Just ask yourself if you lose the job, will you be stable financially? If your answer is no, you have to take action.

Financial independence requires a disciplined spouse/bae

If you have a spouse that spends all your money on Indian hair, London bags, iPhones and the likes, you will never be independent. All your money will be going to the upkeep of your spouse and you will not have anything to invest. We are not saying you should not spend but be reasonable with spending and get someone who is not too demanding.

Fund your future

The future is very important. You have to prepare for it, You should always save money to enable you to deal with any unforeseen incident. Life is unpredictable. This unpredictability makes it essential to save.

Be an investor, not a trader

A trader is someone who wants to make a profit as soon as he/she can. They are never patient. If the business is not doing well, they abdicate it and venture into another one. But an investor’s plan is long term. They foresee a future of great profit and they are very patient as they work to position the business to attain profitability. So, be an investor, not a trader.

Diversify

A particular source of income will not bring financial independence until you diversify. Do not put all your eggs in one basket. Distribute it into different basket and soon you will not rely on one income generator.

Live beneath or within your means

If you earn 20,000 as salary and you are living in an apartment worth 500,000 and eating food worth 2,000 daily, you will never be financially independent. The rule of thumb for financial independence is living within your means. Spend less even if you earn more and make sure you invest.

Source: http://www.opinions.ng/6-ways-achieve-financial-independence/

Invest in Forex

Book marking this

person below me is an idiot

https://www.youtube.com/watch?v=ct5NwMlJv04

Very solid points . Learn to build or grow your assets rather than spending so much on liabilities . Save 10-30 percent of your income and invest whenever you discover a wonder opportunity to . Avoid gambling and participating in quick money schemes . Don't be quick to lose money . Always get advice from good and experienced investors before you invest . Always have a great understanding of any business venture you want to go into . Learn to take risks in business , intelligent risks . Sometimes , its not about the facts and figures , pay attention to the gut feeling .

OP, you are Right.
I have been telling my Banker friend this... It's not by wearing fitted suit.

The fastest is Join APC

i hope it werk
.
person never chop today, how e go save money for future.

btw. do u knw death is unpredictable^_^?

Be an asset not a liability

U make sense small @ op, but is it possible for anyone to earn 20k monthly and live in an apartment that worths 500k?
Such illustration is damn too exaggerative.

No 6 is not true. It is the mentality to become broke guys.

important information

Nonsense

Join ritualists

Nice points...

... but, welcome to our town; A place where people spend money they don't have, to buy things they don't necessarily need, just to impress people they don't know.



[s] 2nd to the last point: Diversify - have plenty boyfriends [/s]

Its easier said than done..

stop unnecessary competition

Your income should determine your expenditure. Don't overspend on mundane things.

Most importantly time. TIME! Don't waste your time.


And make money always

Speaking from personal experience.
Number Seven is not true

diversyfying rang a lot of bell.

Nice

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Op, are you financially independent?

EdDave:
Op, are you financially independent?

Stupidly independent

Improve your network someone says your network determines your net worth

nice 1

Good... But what are the reasonable investment that someone can do, cos I think investment is much more easier to do than just saving money in the bank. The problem most people have these days, is that there are a lot of fraudulent business.

You cannot be financially independent when you live within your means. Living within your means involves for instance you earn 20k and you spend 20k, That will make you broke always.Living below your means will also keep you poor for ever. Rather I suggest you expand your means.

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GBJakes:
Good... But what are the reasonable investment that someone can do, cos I think investment is much more easier to do than just saving money in the bank. The problem most people have these days, is that there are a lot of fraudulent business.

..,........


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