6 Ways To Achieve Financial Independence At Home
As long as you have yourself, you have it all and if you have a smartphone, congratulations because now, you don’t even need a financial advisor. Of course, hard work and more than that, smart work is the fuel to sail this boat. But hey, isn’t that required everywhere you want to excel?
Have you ever wished to be financially independent? Paying off all your bills on time and even after doing so, having enough money to spend on the things you like? Well, it’s my pleasure to tell you that 2020 is your year and that you’ve come to the right place. You don’t need financial planners for yourself because you have got yourself. As long as you have yourself, you have it all and if you have a smartphone, congratulations because now, you don’t even need a financial advisor. Of course, hard work and more than that, smart work is the fuel to sail this boat. But hey, isn’t that required everywhere you want to excel?
Being dependent on someone financially isn’t the best feeling and if you’ve got the opportunity to work towards the attainment of financial independence, then why not? So, let’s just dive into all the possible things that you can do for yourself:
Preparation Of A Budget Of Existing Expenses
Believe me or not, but this is where it starts. Start maintaining a diary in which you just pen down all of your expenses, as and when they happen. By the end of the month, you’d be surprised to see how much you spend. This is where self-assessment comes in that you need to do for yourself.
Evaluate your expenses carefully and if you think you spend a lot on something, try imagining your life without it. If you can do so, you don’t need it. For instance, if you think you spend a lot of your money on shopping, not buying your favorite pair of shoes which is probably not even required, won’t hurt a lot. Now, on that note, prepare a budget for the next month and see the difference.
It’s a completely different feeling to earn your own money. Now, there are two possibilities: either you’re already working or you’ve never worked before. And trust me, that’s okay. For those of you who are freshers and have never worked before, I’d suggest you all do an internship or a part-time job. There’s always the first time and now’s your time.
With the internet at your fingertips, you can pick- up anything you’re good at or interested in. And it’s normal to not know what you’d be interested in, in the future, so you can even try it all out. It would help you in the decision making of your career choice and at the same time, you can even earn some money.
Mobile applications like Indeed, Internshala, glassdoor, frapp, job today, etc. will come handy. If you’re someone who’s already working, you either need another source of income or you need to upgrade the job you are currently doing. You decide to make. You can even volunteer for the events happening close to your place. Events like marathons and public awareness drives usually do need volunteers who are paid for their contributions.
It is said that people living in rural areas have a better lifespan than those living in urban areas (until of course, they have a chronicle disease). And one of the major reasons in support of this statement is that they do their work which keeps them fit. So, if you’re dependent on the domestic help for cleaning the dishes, washing off clothes, cooking, etc.., it’s time to make a shift. Not only would you learn new skills, but you’d also even end up saving a fortune.
Investment In The Various Available Securities
If you do not know the stock market, you can start by investing in mutual funds. There are apps like Groww and ET Money, which can guide you on how and what to invest in. SIP is a means to invest in mutual funds. As they’re based on the method of compounding, mutual funds promise a good return if you are planning on investing on a long-term basis.
However, if you’re someone who has always been fascinated by the stock market, you can educate yourself. Mobile applications like a kite by Zerodha, moneycontrol, etc., can help you out for the same.
Build Upon Your Hobbies
If you have a hobby, consider yourself lucky because you can build upon it and add a little extra income to your pocket. Be it dancing, singing. photography, traveling, teaching, playing the guitar, writing, literally anything would do. You don’t have to be a professional. If you like dancing, you can always choreograph dances for weddings, or maybe help out the ladies in your locality with Zumba for which you can refer to videos online.
If you like writing, you can go to gigs. If you like cooking, you can have your tiffin system. If you think your dressing sense is the best, well, you can be a fashion stylist. If you like photography, you can do photoshoots for influencers. If you like traveling, you can arrange for trips and take different groups for various tours.
If you’re good at sports, you can be a coach for the children in your society or maybe play that sport for a club. If you like teaching or know a language, you can take tuitions for the children of your society. Invest in yourself and I can assure you, it will never go waste.
Believe In The Law Of Attraction
I’ve saved the best for the last and trust me, it works! This law revolves around the thought of ‘pure energy’. Basically, in short, it means that if you believe in something, and if you take honest steps towards your goal, you will attain it. And throughout this journey, you’re supposed to forgive people.
Some various books and sites talk about this law in detail. You should look it up. Even if you don’t believe in all this, there’s no harm in trying it out. This is the year you take full responsibility for your actions. This is the year you start manifesting in yourself.
As thrilling as this may sounds, managing finances is equally difficult for a lot of us. Though managing finances is a highly subjective discussion, there are a few apps that can help you run your financial clock smoothly. Find out more about them here! All the best!
Originally published at https://www.fuzia.com.