10 Tips To Simplify Your Way To Financial Independence

I don’t think the majority of people want to be rich!

I believe that what you really want is to have enough money to freely experience the lifestyle that’s only available to rich people.

If you realize that this is what you truly want, then the secret word to achieving that desire would be: financial independence.

Becoming financially independent means having enough money, so that it doesn’t become the main concern or worry in your life. It means having enough money to freely live your life on your own terms. It means that the paycheck doesn’t have control over you anymore and that you can experience life freely and openly.

The secret to becoming financially independent is very simple …

You achieve financial independence when your income is significantly higher than your needs. 

To achieve that you have to either:

  1. Reduce your needs.
  2. …or increase your income.

Here are 10 tips to help you simplify your way to financial independence:

  1. Use a purse not a credit card. In other words, pay by cash.
  2. If you make good money at work, don’t reward yourself by excessive spending.
  3. Change your job more often. As a rule of thumb, change of job is a gain in experience and income.
  4. The one-hour method: The American life coach and bestselling author, Richard Carlson, has tested this out with many clients: people who set aside one hour every day for the question “How can I earn more money?” achieve financial independence after two years of consistent application of this one-hour method.
  5. Track the money you’re spending using an expenses list.
  6. Give money to people in need, and you’ll feel rich.
  7. Don’t buy something you can’t afford its price AND its maintenance.
  8. Don’t hate money or think that it’s the root of all evil. Otherwise, it won’t come your way.
  9. Believe in abundance. Millions of sperm are produced, even though just one is used.
  10. Save first. Spend second. Always save at the beginning of the month. Don’t wait to save whatever’s left at the end of the month, because generally you’ll have nothing left to save.

What tips have you found useful to simplify your financial life and increase your financial independence?

Watch this content-rich interview with Robert Pagliarini, author of The Six-Day Financial Makeover, where he talks about increasing your financial independence:

And here is a funny video on how to save money: 10 things you don’t need!


*Photo Credit: by Alaskan Dude

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7 Responses to 10 Tips To Simplify Your Way To Financial Independence

  1. Kimberley July 23, 2012 at 1:02 am #

    Great advice, especially:

    #3: Difficult for most American’s who have been hard wired to think that you work your entire adult life for one company…”50 years for a gold watch syndrome”.
    #4: The late author, Richard Carlson, was spot on.
    #6: The way I live my life. GIVING to other’s in need. The opportunities are right in front of us on a daily basis.
    #7: Everything in life requires maintenance whether it is relationships or things. And, there is a cost to everything!

    • Mohamed Tohami July 24, 2012 at 2:09 pm #

      I totally agree with your comments Kimberley, specially the last one about maintenance. We so often buy something, because we can afford its initial price, but we totally forget about the price of its maintenance … which could be a big burden.

  2. financial advisors california July 28, 2012 at 12:28 pm #

    great post..really financial independence require to live happy life.Really superb tips given by you..i will try to apply your tips on my routine life for financial independence…

  3. Zen Presence August 13, 2012 at 2:26 pm #

    I found Your Money or Your Life by Vicki Robin to be the “one” tool that really helped me get a grip on my finances. Bare bone analysing how you spend your life’s energy paying for the things you do and own. Great book.


    • Mohamed Tohami August 13, 2012 at 3:24 pm #

      Great! Thanks for sharing. I’m going to add this book to my reading list.

  4. Online Gym Classes December 13, 2012 at 4:40 am #

    Financial independence is crucial! Being fiscally responsible just makes life much easier. Anyone can do it, but it takes hard work and determination. Like the body, you have to get your finances in shape.

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